Bitrefill Debit Card (EU)

cryptoandcoffee in #hive-167922 • last month

Bitrefill Debit Card link if you want to find out more or possibly sign up especially if you are living in the EU.

I was asked again this afternoon to please check out the Bitrefill card to see if it is any good. I actually enjoy doing these quick research posts as you my just find something that suits your lifestyle and is also a possible crypto off ramp. I don't regard my bank as an ideal off ramp and why I am always on the hunt for something better.

The Bitrefill card is what it says and is a visa debit card that you can top up with either crypto or cash, Euro's in this case. This is basically a Euro Debit card for crypto so anyone not living in the EU including me may as well switch off lol. Still this doesn't stop us learning as this will become more widespread sooner than later and guaranteed Bitrefill will be available outside the EU. They already have a South African link for Bitrefill, but this is more gift cards than genuine use case. The physical card is what I am after and not an app that cannot be used for ATM withdrawals.

source

There are two types of cards with one being virtual so in other words an app which links o various wallets. There is a virtual card coming which will allow for ATM cash withdrawals.

Looking at the service fees there are none besides the loading of the wallet/card which is 1.99%. In other words 2% because 0.01% doesn't make it any cheaper. This is a Visa card so there will be Visa fees applied even if Bitrefill don't charge you anything.

They do highlight that Bitrefill is not a wallet and is a prepaid debit card with a daily and monthly limit. There are 3 levels offering different limits being starter €7,500 daily and €7,500 monthly, Plus €10,000 and €15,000 and Freedom with €10,000 and €15,000. The difference between the 3 cards is Freedom offers a unlimited cash out which the others have, but do not specify the amount.

Bitrefill seems friendly enough offering the services we require as an off ramp and if I was in Europe I would definitely add this to my collection. You can never have enough off ramps and having a top up fee of 2% seems reasonable enough which can then be used world wide due to being a Visa debit card.

The crypto's that this card supports as top ups are Bitcoin, Ethereum, USDT and USDC on Ethereum ERC 20 and BNB which we know is Binance Smart Chain. When you add crypto as the top up be aware the company who runs and operates this card will do the transaction/conversions according to their prices so I suggest it will most likely work out slightly more than 2% when you calculate the final fee. This is where they make their money and it may or may not be as they say. I am just playing devils advocate on this and would like to think my fears are unfounded. I would still get one if it was available so don't let me put you off and just want you to have your eyes open.

MiCA (EU Crypto regulations) is going live any day now so I expect to see a flood of different options similar to this between now and the end of the year.

Posted Using InLeo Alpha

#offramps #crypto #eu #debitcard #review #regulations #thoughts #pob #waiv

last month in #hive-167922 by cryptoandcoffee

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bozz last month

I think we are going to see more and more of these cards in the future. I just hope we can continue to get them from reputable sources.

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cryptoandcoffee last month

Reputable sources most definitely and I think with regulation that will happen there will be no questionable cards.

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bozz last month

I hope so!

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theringmaster last month

Aaaaa, flexibility and convenience, great combo. I'm really impressed by its crypto support and the potential for hassle-free transactions worldwide.

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2 votes

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erikah last month

So I should get one for myself you say. This is good news for me as I've been looking for the best alternative ever since Binance has terminated their contract with Visa. Or the other way around. Thanks for this as it helps me a lot.

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pokermaria last month

I checked it earlier, but it's really far from best available in EU.

My no1 is Wirex based on cost.

And the rest operates with similar fees, so what is priority? where the company registered!

For EU people, much better to use tax paradise registered companies, cards, but at least UK, Gibraltar registered ones. And this bitrefill registered in Sweden, so red flag!

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cryptoandcoffee last month

Maybe, but there will be many more coming from now until December and expect many to disappear with the new regulations about to happen under MiCA. Somehow don't expect things to stay as they are with regular banks having to provide the on and off ramps by law.

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pokermaria 29 days ago

Everything is up to the money. How much bribery these companies ready to pay for law-makers, but they are pretty cheap so I don't expect significant changes.

It's the same like they do with the tax-heaven registered companies employing eu workers, and operating in the eu. Basically, they don't need to follow any EU laws, and there are a lot like this, but there is not even statistics about it (EU burocrats love making million nonsense stat, strangely not about it, where millions, billions fly away yearly, and employees will stay without soc. security because of them, have to work under eu min wage, in not eu law based conditions).

Just one example, there are dozens more like this in eu.

so i don't think significant changes.

anyway, the country I live in the eu, has pretty decent way to deal with them: if you got a crypto-card, you can use it for paying by card monthly till the amount of minimum wage tax free. if it exceed, you pay 15% tax, also, none of crypto transactions, gains are taxable, unless you take out of your money from crypto space, then it's 15%, too.

however, the danger: they have softwares what are tracking your transactions starting from crypto card wallet (as they got the ID verification there), and exchanges. So, if you are making transactions from any other crypto address (or even just receiving directly from someone - this is why it's really stupid), they will link addresses, and traffic to your name. And lovely gov orgs can go after you based on that, just seeing estimated income. Then, you have to prove, it's not like that...

and eu registered card issuers have to make report to govs about the slaves having accounts there regularly, however not EU registered companies doesn't have to, only and only if the gov org directly asking it.

So it's pretty much how the tax heaven registered companies employ eu workers, operate in eu. Everything is up to how much they put in lawmakers pocket. so don't expect big changes.

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porqpin last month

I have recharged my phone with Bitrefill in my home country a couple of times. And it is sure user friendly

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