Can You Spend Crypto Anywhere | EP#205

in dtube •  9 months ago  (edited)

I’ve been looking for a crypto card solution to be able to spend at any point of sale or at ATMs in Canada and until recently have been unable to find one.

Introducing Localcoin and Bitvo. I met both companies at Futurist in Toronto and was more than thrilled to find out they had solutions for this that work for Canadians. I’ve loaded both cards with $50 of BTC and am going to try withdrawing from an ATM and spending money at a point of sale system.

Now the main hurdle here is not having an Interac chip and only being able to swipe your card. Regardless, it’s game-changing to have access to this technology.

For me, now it’s just about determining which of the two were better.

Things To Note For Both Cards

  • Reloadable prepaid cards
  • Spend anywhere Visa is accepted
  • No photo ID required to get them
  • Only can withdraw funds from ATMs where Visa or Plus is accepted (I had issues trying from other ATMs and realized this) Use this link to find one near you
  • You can easily view your entire transaction history as you would with a regular credit card

Some things to note right away are:

  • No fees for activation and no monthly fee
  • $1 fee for purchase transactions and withdrawals
  • Converts your crypto when you use it (volatility in value)
  • You can find more information about the card and its fees and limitations here
  • What they need is the ability to use stable coins with their card and this will be the better solution.

Some things to note right away are:

  • Card issuance is $5 and the initial card load is $5
  • Future reloads are $2.00
  • Changing your pin costs $1.50 and checking your balance at an ATM costs $0.75
  • Monthly fee of $2.90
  • ATM withdrawal fee is $2.50, but domestic POS is free
  • May be charged a fee by third party at ATM even if the transaction isn’t successful (I was charged $0.50
  • Let’s you convert your crypto when you fund your account to CAD (no volatility issues)
  • I had issues originally loading, but support helped solve it
  • You can find out more about the card’s fees and limitations here:
  • It would be better if they could avoid monthly fees and decline transaction charges.

For Bitvo I took out $10 from an ATM and for Localcoin I bought furnace filters at a Walmart and both worked fine. I did have some trouble trying to withdraw money from the ATM at the bank with both cards presumably because it wasn’t Visa compatible.

Overall though, I am happy with them both. They both have their drawbacks and benefits. At the end of the day they are worth having if you want to be able to spend your crypto without having to sell it and claim it. This is the future of payment processing, we just need to work through the current hurdles towards mass adoption.

Let me know if you’ve tried out any Canadian crypto cards including these two and what your experience was with them in the comments below!

Check out all my social platforms and relevant links

Feel free to donate to me to help keep me going:

ETH: 0xE0d930a0aa8e57e037D749a868ade5682a34e88e or scottcbusiness.eth (from any eth wallet)
BTC: 3Bh49RK9GM6Q15a6q13MMfvMbrWihJMast
LTC: MRLLJe9Fywxq1f9ehjDDZNT8ar7MKx3ZS1
LBC: bVb9Hm5EjLUmmTdEypgMJAKd71J3QkUhng
NEO: ASttKYZ6moY5Wkvytc1t1YTjqMDrDR2YGT
You can also now send BTC, LTC, and ETH to scottcunningham.zil via Moonlet, Counter, or Coinomi
If you support my work and haven't downloaded Brave browser yet, please use this link

▶️ DTube
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hi, @scottcbusiness!

You just got a 22.9% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.

Hi @scottcbusiness!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.436 which ranks you at #2325 across all Steem accounts.
Your rank has not changed in the last three days.

In our last Algorithmic Curation Round, consisting of 95 contributions, your post is ranked at #17.

Evaluation of your UA score:
  • Some people are already following you, keep going!
  • The readers appreciate your great work!
  • Try to work on user engagement: the more people that interact with you via the comments, the higher your UA score!

Feel free to join our @steem-ua Discord server

Congratulations @scottcbusiness! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You distributed more than 18000 upvotes. Your next target is to reach 19000 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!