Bitcoin debit card

[dtd069]

its $2 to withdraw at a money pass ATM( thats what bitpay charges). and you can only withdraw $750 at a time and 3k for the day. However if you just go to a bank and go inside and ask for a cash advance on the card it will be free! I tried both methods yesterday. But go to a big well known bank.. some of the smaller banks dont offer the cash advance.

Actually i just looked at my bitpay transactions and they charged me $2. damn lol

[TheMoneyShot]

why arent you copying and pasting the amount just like you copy n paste the address?

I do copy and paste. But, I always triple check the amount and also the address.

Haven't read many posts in the thread. So it's free to load the card from a btc wallet & how much to withdraw from an ATM?

Pretty much free to load the card. Only cost is on your end with blockchain. Like $0.11-$0.13 cents. I've loaded the card numerous times... I think I lost around $0.50 one time because apparently the bitcoin fluctuated?

I've never used the card at an ATM. From what I've read... Max is around $750 per transaction... some ATM's could have a lower max. Also, some ATM's could charge an extra fee as well as the $2 bitpay charges.

its $2 to withdraw at a money pass ATM( thats what bitpay charges). and you can only withdraw $750 at a time and 3k for the day. However if you just go to a bank and go inside and ask for a cash advance on the card it will be free! I tried both methods yesterday. But go to a big well known bank.. some of the smaller banks dont offer the cash advance.

Actually i just looked at my bitpay transactions and they charged me $2. damn lol

I'm just curious about this cash advance option you did with the card... Not trying to be so personal... but for example... it would be kind of cool if you had like $1,500 on the card... and the bank allowed you the entire amount for only $2.00?

Could you state the amount you received for $2? And are you sure that was the only charge? Thanks.

[dtd069]

the cash advance is Free on bitpays end. However the bank will charge $2 for each cash advance amount of $750. Keep in mind bitpay only allows you to take out $750 at a time with 3k being your daily max... so it would cost you $4 in fees to take out $1500 in your example and $8 to take out the full $3,000...

So its pretty much the same as going to a moneypass ATM. In the atm's case Bitpay would charge a $2 fee and the atm would waive the fee. So it would cost the same $4 to withdraw $1500

[Memento]

I told you guys $ orders at Wal Mart are the cheapest way to cash out......75 cents per $750. Also, Gemini converts at 25 bps...so $2.50 per $1000 to convert from BTC to USD and they ACH transferred my money this week in 1 business day! That is as good as it gets if you don't need money in hand immediately and don't want to leave your house.

[dtd069]

I told you guys $ orders at Wal Mart are the cheapest way to cash out......75 cents per $750. Also, Gemini converts at 25 bps...so $2.50 per $1000 to convert from BTC to USD and they ACH transferred my money this week in 1 business day! That is as good as it gets if you don't need money in hand immediately and don't want to leave your house.

is gemini equivalent to coinbase? where you can buy and sell bitcoin...

[gauchojake]

Loading my new card to try it out and the network delay in confirmations is ridiculous.

[TheMoneyShot]

Loading my new card to try it out and the network delay in confirmations is ridiculous.

Enjoy I typically just pay my common monthly bills with it. Love it. Cable/Gas/Electric/Cell

[ATC727]

Does the IRS get notified of US players transactions with these ?

[dtd069]

lol no.. IRS doesn't give 2 shits sir

[Stroyer]

I ordered my Bitpay card last Tuesday and I received it yesterday. I was pleasantly surprised with how quick I received it given what I've read on here. However, I went to load it up yesterday with a small amount just to test how it works, and here I am almost 12 hours later and the transaction still has zero confirmations and the money never made it onto my card. Has anybody experienced any trouble when loading up bitcoin to the card?

It seemed simple: Clicked 'Add funds'. Entered my amount. Selected the "open in wallet" option. It then opened up right to the wallet I use and everything was pre-filled for the transaction. I hit send.

I have a ticket open with their support right now, but I am a little concerned with my first experience loading the card. Thank god I did not send a large amount of $.

The transaction BTC amount sent when transferring to the card must be exactly the same as requested. If you use the mobile link it provides it will go thru most times without needing more then one confirmation. If it is not exact it can require 2 or 3 btc confirmations. This is because you might request an amount that has a different exchange rate then sent.

[Memento]

is gemini equivalent to coinbase? where you can buy and sell bitcoin...

Yes, but exponentially cheaper.....25 bps trades...no cost to add money or cash out...good exchange rates. No other fees. Just not instant to send btc after loading a account...3 day wait which they allow you to trade if you want just not send until it clears...1-2 day to get money back to ach checking account. No wait time after btc usd conversion to send to bank account.

[astrodomer]

What link can I go to in order to apply for a card?

[Optional]

https://bitpay.com/card/

[astrodomer]

https://bitpay.com/card/

[krb8]

Be aware I made the mistake of making a deposit on draftkings back in October and today my card was not working. I called and was told I was making gambling transactions. Only thing is why didn't they close it back then since I've had no gambling related transactions since. They told me I spent $17k on gambling transactions which is totally false. I've used it on stubhub and other normal activity. I always loaded my card from my blockchain wallet. They are allowing me to withdraw the remaining $8k I have left so at least they didn't confiscate it. Sorry I screwed that up.

[littlekona]

Be aware I made the mistake of making a deposit on draftkings back in October and today my card was not working. I called and was told I was making gambling transactions. Only thing is why didn't they close it back then since I've had no gambling related transactions since. They told me I spent $17k on gambling transactions which is totally false. I've used it on stubhub and other normal activity. I always loaded my card from my blockchain wallet. They are allowing me to withdraw the remaining $8k I have left so at least they didn't confiscate it. Sorry I screwed that up.

Yes..Draft Kings half my credit or debit cards wont work there because the code comes up gambling or money services....BUT fandual is smart they use paypal as processor and you can use CC or account and gets processed no problem...whats strange is I thought they are merging so they would have same technology

[themike78]

Be aware I made the mistake of making a deposit on draftkings back in October and today my card was not working. I called and was told I was making gambling transactions. Only thing is why didn't they close it back then since I've had no gambling related transactions since. They told me I spent $17k on gambling transactions which is totally false. I've used it on stubhub and other normal activity. I always loaded my card from my blockchain wallet. They are allowing me to withdraw the remaining $8k I have left so at least they didn't confiscate it. Sorry I screwed that up.

That is interesting because I thought draftkings was completely legal and not considered gambling. That is why they take ************. You could probably fight that.

[temple2010]

Just got the card this week- fuking thing rocks!! Best thing to happen to everybody here-cheers

[evo34]

lol no.. IRS doesn't give 2 shits sir

Oh, they give more than two shits. Why do you think the IRS subpoenaed ALL user records from 2014-2015 at Coinbase?

Their argument was simply that most users are probably not reporting income generated via Coinbase, so the IRS has a right to investigate the entire group if it so chooses. Bitpay is subject to the same possibility.

[Optional]

That is interesting because I thought draftkings was completely legal and not considered gambling. That is why they take ************. You could probably fight that.

Lots of completely legal businesses must use a high risk tx code for merchant processing. Not quite sure what/who you would fight with about this.

[pockets89]

All you guys withdrawing thousands on this bitpay card be aware that bitpay will send all your transaction info to IRS dont think your activity is going unnoticed so make sure to pay taxes.

[GoldRush7]

All you guys withdrawing thousands on this bitpay card be aware that bitpay will send all your transaction info to IRS dont think your activity is going unnoticed so make sure to pay taxes.

Care to elaborate? Are you speaking from experience or just making an assumption?

Anybody that used the card in 2016 - did you receive any sort of form to file with your taxes? I just started using mine this year, but would be good to know in order to be prepared for next year.

[Catch77]

Withdrew at least 3k via *********** last year no irs form thus far. I do not think they are bound to IRS reporting. Its a bank account. Not an investment account like etrade or TD ameritrade. IRS is concerned with "income". Bitpay has no idea of what goes through your account is income or not. What if I'm simply transferring my already taxed funds through my bitpay account. Impossible for them to report anything to IRS.
Furthermore bitpay is not an "exchange" either like Coinbase was advertised as. Bitpay is simply a normal bank account that allows you to deposit via Bitcoin. The only reporting they are bound to is if you are making single transactions greater than 9,999. If you are you deserve to be beat about the head.
I'll stand corrected if given more concrete proof.

[hello1234567]

All you guys withdrawing thousands on this bitpay card be aware that bitpay will send all your transaction info to IRS dont think your activity is going unnoticed so make sure to pay taxes.

Is this true? Has anyone call BitPay and asked them about this?

[kaliboyz]

Guys I need help. Just topup my card but got this E-mail. Any help will be appreciated. Thanks.

[TheMoneyShot]

Oh, they give more than two shits. Why do you think the IRS subpoenaed ALL user records from 2014-2015 at Coinbase?

Their argument was simply that most users are probably not reporting income generated via Coinbase, so the IRS has a right to investigate the entire group if it so chooses. Bitpay is subject to the same possibility.

Evo do you work for the IRS man? Give it a rest.

The difference between Coinbase, Circle... and everyone else... they allow you to Buy and Sell Bitcoins. Trading.

All you're doing with Bitpay is converting Bitcoins to Debit crd. There's nothing wrong with this.

[TheMoneyShot]

Guys I need help. Just topup my card but got this E-mail. Any help will be appreciated. Thanks.

Never had this happen before. I guess wait 1 business day... and see what happens on Tuesday?

[Optional]

Is this true? Has anyone call BitPay and asked them about this?

As two people explained already, there is zero evidence of them submitting W1099 type forms for these type of user accounts so far.

Don't call up and basically ask them to flag your account. If they do ever have to report, they will tell you.

But of course everything you do there can be traced to you IF someone goes looking. You do recall giving them a SS # and some ID don't you?

YOU chose to do that. Don't be playing the panic merchant like Pockets89 by acting surprised your activity can be linked to you now. (just as it is with circle and coinbase btw)

Guys I need help. Just topup my card but got this E-mail. Any help will be appreciated. Thanks.

Did you email and ask? Could easily be just a random tech error as it says.

[TheMoneyShot]

Withdrew at least 3k via *********** last year no irs form thus far. I do not think they are bound to IRS reporting. Its a bank account. Not an investment account like etrade or TD ameritrade. IRS is concerned with "income". Bitpay has no idea of what goes through your account is income or not. What if I'm simply transferring my already taxed funds through my bitpay account. Impossible for them to report anything to IRS.
Furthermore bitpay is not an "exchange" either like Coinbase was advertised as. Bitpay is simply a normal bank account that allows you to deposit via Bitcoin. The only reporting they are bound to is if you are making single transactions greater than 9,999. If you are you deserve to be beat about the head.
I'll stand corrected if given more concrete proof.

As two people explained already, there is zero evidence of them submitting W1099 type forms for these type of user accounts so far.

Don't call up and basically ask them to flag your account. If they do ever have to report, they will tell you.

But of course everything you do there can be traced to you IF someone goes looking. You do recall giving them a SS # and some ID don't you?

YOU chose to do that. Don't be playing the panic merchant like Pockets89 by acting surprised your activity can be linked to you now. (just as it is with circle and coinbase btw)

You're correct Optional.
The only thing that anyone should be worried about is typical "V # S A" terms, guidelines, and bylaws on any CC or debit. I wouldn't be trying to buy a missile launcher online. I also wouldn't be doing "gambling" related things with it.

Whatever you typically do with your normal CC or debit. Do the same with this one.

[kaliboyz]

As two people explained already, there is zero evidence of them submitting W1099 type forms for these type of user accounts so far.

Don't call up and basically ask them to flag your account. If they do ever have to report, they will tell you.

But of course everything you do there can be traced to you IF someone goes looking. You do recall giving them a SS # and some ID don't you?

YOU chose to do that. Don't be playing the panic merchant like Pockets89 by acting surprised your activity can be linked to you now. (just as it is with circle and coinbase btw)



Did you email and ask? Could easily be just a random tech error as it says.

They emailed me today, so I think their support is closed on the weekend.

[GoldRush7]

Guys I need help. Just topup my card but got this E-mail. Any help will be appreciated. Thanks.

Same thing happened to me last night... I emailed them and it was taken care of within a few hours. Not sure what the deal was though.

[kaliboyz]

Same thing happened to me last night... I emailed them and it was taken care of within a few hours. Not sure what the deal was though.

Thanks bud, I just emailed them. How long does it take for them to email you back? I know you stated *a few hours*, but if you can give me a little specific how did it goes, then it would be very helpful. I'm a little anxious. Thanks again.

[GoldRush7]

Thanks bud, I just emailed them. How long does it take for them to email you back? I know you stated *a few hours*, but if you can give me a little specific how did it goes, then it would be very helpful. I'm a little anxious. Thanks again.

Just looked at my time stamps and I emailed them around 6:30 and I received a response around 7:45. Might be different on Sunday... I'm confident they will take care of you though... It was the same exact message I received.

[kaliboyz]

Thanks buddy!! I emailed them this morning and they fixed it.

[evo34]

Evo do you work for the IRS man? Give it a rest.

The difference between Coinbase, Circle... and everyone else... they allow you to Buy and Sell Bitcoins. Trading.

All you're doing with Bitpay is converting Bitcoins to Debit crd. There's nothing wrong with this.

So converting bitcoin to USD is not trading? Are you effing kidding? You know literally nothing about taxation and the IRS. Even less than Optional, who doesn't live here and most certainly doesn't know/care about the topic. I'm posting for people who do care, so they have complete information.