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by thiagooffm 3176 days ago
Bad idea, I've got plenty of crypto, but I wouldn't pay a percentage of it for a company to get me liquidity to use it as a card.

Just sell some and get a normal card. It's a bad money-wise decision for now.

When they start to settle transactions for the same pricing they do for normal CCs, with the same monthly fee, it's worth it, otherwise, bad idea.

This is like travelling to a country and using your CC everywhere, when you could get a better currency exchange rate by not using it and just getting some fiat. If you gonna take those kind of decisions, why invest in crypto at all?

I know that some people gonna hate this, perhaps because they do got cards or they are the companies which make money doing that.

2 comments

Second the bad idea. I've been dabbling in electronic currency systems since the days of E-Gold and I've never seen a debit card last more than a couple of years before Visa/MC decided to seize the cards and all the values on them for violating their TOS or money laundering concerns. They also are highway robbery in terms of inflated fees for whoever is operating the scheme because of the risk involved. Because I live in a semi large city I've always just found somebody local willing to convert to cash through localbitcoins or bitcoin-otc or who can pay in a local bank transfer method that doesn't involve correspondent bank wire transfer fees.

The few times I've needed to receive an international wire for contract work I've done or exchanging coins I used a middle man currency exchange service (VBCE.ca) that received the wire for me and paid via a local method.

In some countries, your solution is more expensive than the BTC CC fee.
then good, but most of the countries, not rly