Plan A, B & C - Any Ideas?
I have been hunting for a possible route out of crypto thinking a bank card linked to crypto was the answer. That was the plan anyway until first Coti and then Binance don't allow for their cards in South Africa. Bummer as that has put a spanner in the works regarding my initial thought process. Seriously stupid if you ask me as one could use the card here as it is Visa, but just not have a South African address.
source
A temporary spanner for now as long term my future is definitely not here and has to be overseas somewhere else. Nothing is ever straight forward especially in Africa and my last hope going down this type of rabbit hole now resides with crypto.com and their visa debit bank card. That takes 6 months though of staking to be eligible for their bank card and sounds like a long time and there has to be other options.
Looking tonight I had no idea that there were so many debit cards linked to crypto. This is one area that has exploded over the last 12 months and just wish banks had made things simpler to do business with. My current bank accepts no digital transactions from crypto related accounts so the easy decision is to close the account and move banks. The problem is I don't reside in the UK anymore so more thought has to go into this. Crypto friendly countries that allow bank accounts from non residents is my next port of call as I have no other choices left.
The latest travel ban has also put a spoke in the works for now as the other plan was to travel and register with Coti overseas using my brothers address in the UK. This actually doesn't seem so stupid as waiting 6 months is just too long and surely the travel ban will be lifted in the new year at some point.
I was thinking of asking the community for any ideas as the leofinance members are pretty clued up in this type of thing. I am honestly not 100% sure what the best move is right now so any ideas would seriously be appreciated.
Posted Using LeoFinance Beta
I live in Hungary, and I have a bank account at OTP Bank. Cryptocurrency transfers are properly working to and from Coinbase. I have not tried other cryptocurrency exchanges so far.
Foreigners (and also local people) can open a bank account in various currencies, but I currently do not know about their current bank account opening rules.
I give you some !PIZZA.
Have a nice day and have a nice weekend.
All the best. Greetings from Hungary.
Thanks xplosive as I am looking at every idea.
Posted Using LeoFinance Beta
PIZZA Holders sent $PIZZA tips in this post's comments:
@xplosive(9/10) tipped @cryptoandcoffee (x1)
Join us in Discord!
This will not get better in the future, I expect the banks to get forced to ban crypto related transactions. I am very curious to what the community can provide us here!
One way is to use www.bitrefill.com which although not a card, does allow you to buy gift cards that can pay for purchases. There are thousands to choose from and available in 160 countries, so the it says on the blurb!
I'm hoping that 2022 will be the year the use of crypto to make everyday purchases becomes cheap and straightforward!
I am looking forward to the straightforward part and why I am looking for a debit card. Not a massive rush but something I need to sort out at some point and will fly if I have to.
Posted Using LeoFinance Beta
Well keep us updated please cos I think a lot of people are going to be in the same boat and wanting to finally 'use' some crypto.
Will do and know what I need to do as it involves travelling.
Posted Using LeoFinance Beta
I don't think it is still very much accepted in using it because most government are against crypto so using a card is even at if it in mentality to see it function in the country.
That's quite disappointing, I have been on the lookout on your posts hoping for success as you hunt for a crypto debit card since am keen on getting one myself.
This is exactly the same situation with Xapo crypto debit card.
There must be some SA rules preventing the use of crypto debit card here in SA, this guys are keen on getting there hands on our crypto so bypassing them is something they will make difficult for us but with crypto there's always ways.
It is disappointing so I guess I need to travel to fix this early next year. I see it as a worthwhile trip as this is important to sort out.
Posted Using LeoFinance Beta
is paypal an option? if you can pay everything with them it might be a solution for you
Posted Using LeoFinance Beta
Hi @felander not really as the fees are rather high plus it is easier going directly to a debit card. I have already made up my mind it looks as though I am going to have to travel to fix this.
Posted Using LeoFinance Beta
I have a crypto.com card. And its like revolut . You top it up with funds. Its great. Every transaction you make then earns crypto (CRO) their native token. To get one of their visa cards you will need to stake a certain amount of CRO depending on the card. From there once you keep your stake , you earn crypto on purchases and also get a rebate on Spotify Netflix and Amazon. Plus you can withdraw crypto as well which is something you may need seen that you are a whaley whaley now . Ha. Its a good card. Perfect for you. CDC is a nice platform as well.
Thanks for the info. The 180 days staking before applying is a let down though and one I will just have to do. Need to check if available for here or also have to be in the 1st world to get one.
Thta rule wasn't there when I got one . the 100 days of waiting after you apply is even worse but they are excellent after all that is over with !