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It seems to me like an expensive way to pay. Correct me if I am wrong but these debit cards have higher fees compared to using a fiat based Mastercard or Visa r
by richardknop 9y ago
It seems to me like an expensive way to pay. Correct me if I am wrong but these debit cards have higher fees compared to using a fiat based Mastercard or Visa right?
Because for every transaction you have extra crypto <-> fiat conversion which must have some fee attached to it by vendor who does the conversion.
- dmos62 9y agoNormal fees are 1% loading fee and 1$ monthly maintenance fee. In some situations, for example as a substitute to paypal, this is less expensive. Paypal charges 4% for withdrawing funds. Correct me if I'm wrong.
- richardknop 9y agoPaypal is probably more expensive. But why would you use Paypal instead of normal debit/credit card? Not sure what is advantage of Paypal these days.
- dmos62 9y agoI agree that Paypal isn't that interesting. As for crypto cards, they have the advantage of an anonymous way (in the case of foregoing Know-Your-Customer processes) of spending potentially-anonymous currency (crypto currency).
- jklein11 9y agowhich implementation of cryptocurrency is anonymous? My understanding of bitcoin is that it is basically a hash of all previous transactions. The people who ripped off Mt. Gox went through great lengths to obfuscate their transactions but were unsuccessful.