[illiteratepotato]

so im in the process of cashing out from some books via bitcoin cash. I will pay less than 1 cent to send them from my intermediary wallet to bitpay to load my debit card and it will be included in the next block. It will be this consistent for a very long time as far as costs and tx time is concerned. this is how bitcoin used to be -- fast and nearly free to transact.

you can avoid everything that sucks about bitcoin core by using bitcoin cash.

also the circle invest app recently launched so you can go from book > intermediary wallet > circle invest (your bank) if you want to send funds directly to your bank account and want to avoid coinbase. i used to use the circle app a lot before they shut down. now that its back i definitely will use it since i'm blacklisted from coinbase.

[mrpapageorgio]

so im in the process of cashing out from some books via bitcoin cash. I will pay less than 1 cent to send them from my intermediary wallet to bitpay to load my debit card and it will be included in the next block. It will be this consistent for a very long time as far as costs and tx time is concerned. this is how bitcoin used to be -- fast and nearly free to transact.

you can avoid everything that sucks about bitcoin core by using bitcoin cash.

also the circle invest app recently launched so you can go from book > intermediary wallet > circle invest (your bank) if you want to send funds directly to your bank account and want to avoid coinbase. i used to use the circle app a lot before they shut down. now that its back i definitely will use it since i'm blacklisted from coinbase.

Unless you bet with Bovada, good luck finding a book that will take Bitcoin Cash without charging you a fee to convert.

Also, Circle invest does not allow you to withdraw/deposit in Bitcoin, so it's useless for 99% of people here trying to fund/withdraw from a book. Only good it does is for speculating in alt coins.

[illiteratepotato]

used to have a bovada account. now they wont let me register.

bookmaker and BOL have been good for dealing with bitcoin cash deposit/withdraws. i haven't noticed any conversion fees with them.

[mrpapageorgio]

used to have a bovada account. now they wont let me register.

bookmaker and BOL have been good for dealing with bitcoin cash deposit/withdraws. i haven't noticed any conversion fees with them.

Where does BOL take Bitcoin Cash? Only cryptos they list are Bitcoin, Litecoin and Ethereum.

[illiteratepotato]

on my BOL account i have bitcoin, bitcoin cash, dash, eth, litecoin for both deposit/withdraw.

on another note, i tried playing with abra today and after some retard math i found its cheaper to just load my bitpay for cashouts when dealing with sums under $10k because their exchange rate is better. bitpay honors market rate when loading your card while abra charges ~1.5%

You still come out ahead, saving around 0.75% compared to abra after factoring in the $2 bitpay atm and third party atm fees.

[mrpapageorgio]

Just got the Bitpay card today. Gonna take it for a spin this weekend. I see in the fee schedule it says you can withdraw the money surcharge free from a Moneypass ATM, does that include no $2 fee for withdrawing from an ATM on top no fee from the ATM (my bank is part of the Moneypass network so it'll be very convenient)?

[illiteratepotato]

Just got the Bitpay card today. Gonna take it for a spin this weekend. I see in the fee schedule it says you can withdraw the money surcharge free from a Moneypass ATM, does that include no $2 fee for withdrawing from an ATM on top no fee from the ATM (my bank is part of the Moneypass network so it'll be very convenient)?

the fee will be $2 for every $750 u withdraw when using a moneypass atm. other atms will be $2 plus whatever that atm charges.

i hope this lasts for a long time.

[TheMoneyShot]

Just got the Bitpay card today. Gonna take it for a spin this weekend. I see in the fee schedule it says you can withdraw the money surcharge free from a Moneypass ATM, does that include no $2 fee for withdrawing from an ATM on top no fee from the ATM (my bank is part of the Moneypass network so it'll be very convenient)?

the fee will be $2 for every $750 u withdraw when using a moneypass atm. other atms will be $2 plus whatever that atm charges.

i hope this lasts for a long time.

Maybe one of you guys can answer this? Are you 100% sure you can receive 750 max for $2? Aren't these ATM's independently owned and they set the prices also the limits? Some of these ATM's could have a 200 limit... and you'd be screwed.

It's tough finding an ATM that allows 750 MAX.


A poster mentioned before... you can go to Walmart and get a 1000 Money Or for $0.70 using your Bitpay card.... take that Money Or and throw it in your bnk to cash. Not a major fan of this... but if you really need the cash... it's a cheap option.

[mrpapageorgio]

Maybe one of you guys can answer this? Are you 100% sure you can receive 750 max for $2? Aren't these ATM's independently owned and they set the prices also the limits? Some of these ATM's could have a 200 limit... and you'd be screwed.

It's tough finding an ATM that allows 750 MAX.


A poster mentioned before... you can go to Walmart and get a 1000 Money Or for $0.70 using your Bitpay card.... take that Money Or and throw it in your bnk to cash. Not a major fan of this... but if you really need the cash... it's a cheap option.

The Moneypass ATMs (at least by me) also include U.S. Bank and major local banks. I think U.S. Bank's allow $1k (it's at least $500). My local bank that is part of the Moneypass network I think allows $1k. A lot of the 7-11 ATMs by me are Citibank which allows at least $1k to my knowledge.

Of course, all of this also depends on what your card issuer will allow as a max ATM withdrawal in addition to what the ATM will let you take out max. The local gas station ATMs are the ones that do low limits like $200, but most of the ATMs owned by an actual bank are usually at least $500.

Not desperate for the cash, but I'm of the philosophy of why pay extra fees if I don't have to. I can pay a lot of my utility bills with it, but it's nice to know my options if I want to take out cash.

[illiteratepotato]

Maybe one of you guys can answer this? Are you 100% sure you can receive 750 max for $2? Aren't these ATM's independently owned and they set the prices also the limits? Some of these ATM's could have a 200 limit... and you'd be screwed.

It's tough finding an ATM that allows 750 MAX.


A poster mentioned before... you can go to Walmart and get a 1000 Money Or for $0.70 using your Bitpay card.... take that Money Or and throw it in your bnk to cash. Not a major fan of this... but if you really need the cash... it's a cheap option.

like mrpapageorgio said you can run into gas station atms that have a 200 limit per withdraw and bank atms that have a limit of 1k per. but no matter what the max is 750 per withdraw and 3k total in a day because those are the limits on your bitpay card.

also, i guess this hasnt been mentioned in the thread yet but you can withdraw straight to your bank account. the way it works is you login to your bank account and link your bitpay card's account and routing number to it like you would an external bank account.

https://support.bitpay.com/hc/en-us/...-bank-account-

the article is poorly written and doesnt specify but i think you can do up to $10k at at time for a flat $5 fee. i cant test it because my bank isnt on their approved list.

[Optional]

like mrpapageorgio said you can run into gas station atms that have a 200 limit per withdraw and bank atms that have a limit of 1k per. but no matter what the max is 750 per withdraw and 3k total in a day because those are the limits on your bitpay card.

also, i guess this hasnt been mentioned in the thread yet but you can withdraw straight to your bank account. the way it works is you login to your bank account and link your bitpay card's account and routing number to it like you would an external bank account.

https://support.bitpay.com/hc/en-us/...-bank-account-

the article is poorly written and doesnt specify but i think you can do up to $10k at at time for a flat $5 fee. i cant test it because my bank isnt on their approved list.

I think you can just walk into your bank with the card and deposit direct to your bank account too.

[littlekona]

Chase ATM INSIDE the branch allows for 1000 per trans....I normally just use the card for all my bills and purchases but for cash I do walmart MO or go to stores that allow 200$ cash back and do multiple transactions buying candy bars

[Underdog5229]

same here. Local grocery store allows $200 cash back on debit transactions, so I just buy a 0.25 cent pack of gum a few times and take $200 out each time so only cost 200.25 each time.

[mrpapageorgio]

Got mine on Wednesday and trying it out since. Loading money was easy enough using my Ledger Nano as the wallet and Electrum as the wallet manager (which I now use instead of Ledger's own wallet software). Network fee seemed a little high, but I think there was heavy traffic at the time.

For a $10 activation fee, I will say I'm disappointed there's no chip attached to the card. It did cause me to not be able to use it at one place that only takes CCs with a chip, but otherwise has worked.

One other issue I'm dealing with is their phone app is being buggy when trying to sync the card to the app so I can use it to check the balance without having to login through a browser. The app keeps refreshing to the welcome screen where you initially start attempting to sync the card to the app.

Overall, a good way to get cash quickly if you need it, but it won't be my primary method of liquidation unless I need cash fast or want to spread it around instead of selling everything through GDAX.

[Bigredfyah]

Is there any Canadians in here with a bitcoin debit?
I use to have Xapo Debit and it worked great but they pulled the plug on it.
Bit pay won't work for Canadians....

[goduke]

So my normal cashout method went away so this looks like the way I have to go going forward. So that I don’t have to scroll through a bunch of pages can someone provide me the best step by step from book to eventually Bitpay card process that keeps everything running smoothly please?

[TheToffer]

Book to Co-Pay Wallet to Bitpay Card...

It's never been easier...

[goduke]

I did Airbitz. It really was that easy. I got my card within 5 days

[Pinoy-T-X]

I did Airbitz. It really was that easy. I got my card within 5 days

Please explain how Airbitz works, thanks

[goduke]

Please explain how Airbitz works, thanks

I just used that as my intermediary wallet between bitpay and the book. In order to get the bitpay card there were a few wallets you could choose from to pay for the bitpay card. I just heard decent things about that one. Everything seemed to go smooth.

[TheMoneyShot]

same here. Local grocery store allows $200 cash back on debit transactions, so I just buy a 0.25 cent pack of gum a few times and take $200 out each time so only cost 200.25 each time.

Very smart idea. Have you tested it out higher than $200 in one transaction? Or more than one transaction within 24 hours for a higher dollar amount? I'm curious.


Did Bitpay charge any additional fees on your statement?

[goduke]

Very smart idea. Have you tested it out higher than $200 in one transaction? Or more than one transaction within 24 hours for a higher dollar amount? I'm curious.


Did Bitpay charge any additional fees on your statement?

Pretty sure based on my fee sheet debit transactions cost 5 dollars in fees

[Brewcity]

Pretty sure based on my fee sheet debit transactions cost 5 dollars in fees

No debit charges do not charge any extra fees. As a matter of fact on the fee sheet it says...how to save on fees? Use debit at stores and get cash back. Only fees are i believe $3 at the atm.

[goduke]

Youre right. It was ACH debit that cost 5 bucks.

[TheMoneyShot]

Very smart idea. Have you tested it out higher than $200 in one transaction? Or more than one transaction within 24 hours for a higher dollar amount? I'm curious.


Did Bitpay charge any additional fees on your statement?

Pretty sure based on my fee sheet debit transactions cost 5 dollars in fees

No debit charges do not charge any extra fees. As a matter of fact on the fee sheet it says...how to save on fees? Use debit at stores and get cash back. Only fees are i believe $3 at the atm.

Youre right. It was ACH debit that cost 5 bucks.

So for $200 at the grocery store.... it cost you $3.00 in all the fees combined?

I assumed it was $0.00???

[littlekona]

So for $200 at the grocery store.... it cost you $3.00 in all the fees combined?

I assumed it was $0.00???

there is no add on fee at grocery store or any retail store you get cash back from purchase ZERO fee...just the add on purchase of the candy bars and other junk esp if you do multiple ones mucho candy!

[Brewcity]

there is no add on fee at grocery store or any retail store you get cash back from purchase ZERO fee...just the add on purchase of the candy bars and other junk esp if you do multiple ones mucho candy!

What he said! Lol it dont cost anything at grocery store to get cash back. Only fees there are, is if you get cash at an atm.

[TheMoneyShot]

there is no add on fee at grocery store or any retail store you get cash back from purchase ZERO fee...just the add on purchase of the candy bars and other junk esp if you do multiple ones mucho candy!

So the max cashback would be $200? Or is it any amount?

[Underdog5229]

So the max cashback would be $200? Or is it any amount?

You will have to ask your local store what the max cash back amount is as it is different at some stores. some only allow you $100, but most around me allows $200. I normally do 2 or 3 $200 cashback on 25 cent pack of gum each time i go. No extra charge for doing it. statement show a debit of $200.25 for the gum and 200 cash back. Walmart allows 100 cash back also, and when im in wally world i just go to the automated self check out lane and grab 4 or 5 packs of 25 cent gum and do 4 or 5 seperate transactions with cash back. takes less than 15 seconds per transaction.

[littlekona]

You will have to ask your local store what the max cash back amount is as it is different at some stores. some only allow you $100, but most around me allows $200. I normally do 2 or 3 $200 cashback on 25 cent pack of gum each time i go. No extra charge for doing it. statement show a debit of $200.25 for the gum and 200 cash back. Walmart allows 100 cash back also, and when im in wally world i just go to the automated self check out lane and grab 4 or 5 packs of 25 cent gum and do 4 or 5 seperate transactions with cash back. takes less than 15 seconds per transaction.

one thing with Walmart self check outs...if you do multiple ones make sure you jump to different self check out lanes as I have had one not have enough funds it spit out 40bucks instead of a hundred and it took like 2 days for the other 60 bucks to get credited back to my card...I use woodmans grocery store the most they allow 200 through the full service teller...I just go to different lines

[Pinoy-T-X]

A question for US bettors using bitpay, when do you declare taxes on your btc transfer to your bitpay card? When it reaches a $20k transfer?
(As per bitpay after 200 transactions and $20k they send you a 1099k tax form)

[Wilfred]

A question for US bettors using bitpay, when do you declare taxes on your btc transfer to your bitpay card? When it reaches a $20k transfer?
(As per bitpay after 200 transactions and $20k they send you a 1099k tax form)

I think that’s for business accounts?

[littlekona]

I think that’s for business accounts?

Has to be as its a prepaid card where some peeps even have there payroll checks deposited to...would be double taxation....i would not worry about reporting tax unless its some sort of extreme circumstance with big money going in and out...then i would think Patriot act and kyc banking rules would come into play

[Pinoy-T-X]

Has to be as its a prepaid card where some peeps even have there payroll checks deposited to...would be double taxation....i would not worry about reporting tax unless its some sort of extreme circumstance with big money going in and out...then i would think Patriot act and kyc banking rules would come into play

I understand what you mean.

When you say big money, you mean hundreds of thousands?

[ClippersSux]

I'm receiving "insufficient funds" error message when I tried to send bitcoin from bitpay wallet to the bitpay debit card. Anyone know how to fix this? I've already tried lower the amount by a few hundred bucks.