London Startup Launching Visa Card for Spending Bitcoin and Ethereum (opens in new tab)

(standard.co.uk)

43 pointsultimatejman8y ago14 comments

14 comments

There are multiple companies doing this. Check out TenX and Monaco for example.

Is anyone actually spending Bitcoin? Given the ludicrous growth, it seems prudent to just leave it in the bank.

Prudent and Bitcoin are two words that don't belong in the same sentence. You never know when and if you're in a bubble until its too late, but the ludicrous growth isn't a good sign of stability.

JosephRedfern8y ago

Either way, the "correct" way to spend BTC/ETH doesn't seem to be via a series of transactions made via a VISA, does it? Why would go not go directly via an exchange?

2 more replies

colecut8y ago

Spending bitcoin is the most convenient way to cash out some profits from the ludicrous growth

corford8y ago

I'm wondering how long it will be until Revolut fully commit to supporting BTC on their cards.

hacker_98y ago

"The Visa card, which will be issued by Gibraltar-based pre-paid card provider Wavecrest, will be linked to an app that allows users to buy and hold cryptocurrencies through the LBX exchange. Customers will also be able to withdraw money using the card. Cryptocurrencies will be converted to sterling at the time of withdrawal."

Great, so I can put in £200 at the start of the day before work, then when it gets to lunch and the bitcoin market is currently crashing, I can withdraw my full savings now valued at £2 and buy half a sandwich, bargain!

mpeg8y ago

Bitcoin has never, even in the biggest crashes, gone down 100x in value.

It has gone up 100x in a few years, though.

buchanaf8y ago

Heck, I would simply be worried about a 1x drop.

1 more reply

miohtama8y ago

Wavecrest is the issuer for 90% of crypto debit cards. So there is nothing new here and these cards have existed since 2014.

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