Method for Using Bitcoin With a Visa Debit Card
- This topic is empty.
-
Posts
-
I ran across this while reading about the Uber upheaval in Buenos Aires, Argentina.
Citizens like using Uber for obvious reasons but it cuts into the way “The System” is set up so local use of credit and debit cards for Uber payments was blocked. People, being naturally creative problem solvers, have begun using a Bitcoin funded Visa debit cards to get around local controls. The company providing the card is called Xapo.
You can buy Bitcoins directly from them, store them on their “secured” servers supposedly in a practically war-proof vault in Switzerland. You can then fund your Bitcoin wallet from your vault holdings and from there fund your Visa debit card.
I am suspicious of Xapo after reading on their website that Larry Summers, former Secretary of Treasury under Clinton, is on the advisory board?? Dee Hock, founder of Visa, and John Reed, former CEO of Citibank, are also on the list?? This ain’t no “Dream Team”.
I post this to see if there are others out there using this or other avenues for holding Bitcoins or other cryptocurrencies with ways to morph them onto a usable debit or credit cards. It sounds like this one is taking off so others are sure to follow.
I don’t know if you can use Bitcoins you may already own or buy elsewhere and download them to this card? I will do more research. I would be hesitant to store much in a vault owned by this “Dream Team”.
I will post this on the SMC forum to see if it will generate some useful information.
- You must be logged in to reply to this topic.