[kbody]

This is one of the worst crypto-debit cards I've seen. Coinbase's card has a "Crypto Liquidation Fee": 2.49% of transaction. (Even Gemini, the most expensive cryptoexchange has 1% exchange fees, while the median is probably around 0.2%)

You are better off selling manually on an exchange (0.1-0.25% fees) and transferring to a sane bank with debit cards and minimal fees like N26(EU) or Charles Schwab(US).

Have a fiat buffer, but control your holdings and don't get milk by fee-vampires like Coinbase.

[briatx]

Or you could skip a step and just use a regular credit card with cash rewards and receive 1-2% of transaction amounts cash back.

I'm not sure why people want to make it harder (and more expensive) than necessary.

[bufferoverflow]

But then you're missing the whole point - storing your money in a deflationary currency.

I moved 95% of my savings into cryptocurrencies years ago, and it's been orders of magnitude better than the silly 1-2%.

[BoorishBears]

And some people moved their savings into cryptocurrencies half a year ago and it's been orders of magnitude worse than the silly 1-2%.

Kind of like advising putting your savings in naked options plays because it worked for you that one time.

[bufferoverflow]

The difference is, inflationary currency is guaranteed to lose value over long term. One-year fluctuations are not very important to me, this is short-term thinking.

That's why even now I buy as much cryptocurrency as I can.

[dragonwriter]

> The difference is, inflationary currency is guaranteed to lose value over long term. One-year fluctuations are not very important to me, this is short-term thinking.

The whole point of currency is short-term; it's the virtual particle of the economy intended to lubricate the flow of useful goods without incentivizing hoarding of itself over investment in productive assets.

[bufferoverflow]

> The whole point of currency is short-term

Not if you're saving for retirement or your kid's college fund.

We never had any deflationary currencies till recently. Now we have a choice.

If you want to quickly spend your money, go right ahead, nobody is stopping you.

I prefer to spend for what I need, and save the rest, and it's been working great so far. That's what most financial advisers advise anyway - live within your means, and create a financial cushion.

[BoorishBears]

>One-year fluctuations are not very important to me, this is short-term thinking.

Very easy to say this when 6 month fluctuations haven't wiped out your savings.

People with this same thinking got in 6 months ago and have lost more than 50% of their savings.

When this happens during a recession it's everyone, the government is working to fix it, the world literally grinds to a halt and tries to dig out of it.

When this happens in BTC it's a "yearly occurrence" and "don't worry just HODL".

[bufferoverflow]

> People with this same thinking got in 6 months ago and have lost more than 50% of their savings.

Well, nobody guarantees growth, especially short term.

But 50% loss after a 1000% growth is still better for many people experiencing hyperinflation. Bolivar lost more than 90% of its value in the last 6 months [1].

And hey, if you prefer dollars or euros, all the power to you, use them. But I won't, cause I know it's designed to lose value.

[1]: https://i2.wp.com/cdn.investinblockchain.com/wp-content/uplo...

[briatx]

* Bitcoin is not yet deflationary as new coins are still minted for reward blocks.

* Bitcoin is not guaranteed to go up and has so much volatility that you are essentially gambling.

* Bitcoin is inferior as a payment system, even when they use debit cards to interface with mainstream PoS.

* Bitcoin has probably topped out and we are nearing the end of it's hype cycle.

[bufferoverflow]

I didn't even mention Bitcoin. You're fighting a straw man.

[originldirgibl]

As opposed to the silly 75% decrease in Bitcoin from December 2017. So deflationary.

[bufferoverflow]

You're confusing value fluctuations with monetary deflation.

[ozzyman700]

I personally have not been able to use a credit card on coinbase for a while now

seemingly this is a US thing [1]

[1]https://support.coinbase.com/customer/en/portal/topics/79653...

[kbody]

Sure if they are available in your country, in my case they are not, so I don't have any experience with those.