So with all these new ICO's for crypto debit cards, it can be very confusing as to the fundamental difference between each card. Below is a short summary of each card outlying the differences.
Token Card
- Debit Card for Ethereum and Ethereum Contracts (anything that runs off of Ethereum can use this card)
- ~1% fee charge for use
- Partnered with Melon Port, Digix, Bancor, and a few other cryptos
- Cash and Burn Policy - for each purchase, a percentage of the the purchases go into a pot. To claim a percentage of the pot, you send your token to an address and you get a percentage of of what is in the pot and the token is destroyed.
- They allow users to buy crypto from their app directly from fiat money to use on the card
Monaco Card
- Debit Card for select high premium coins (They do an anaylsis of each coin and only choose select coins that they think will last to purchase goods... Not Limited to just Ethereum Tokens)
- ICO was announced only 1 month before launch (Didn't sell out right away, took days)
- Same cash and burn properties as Token Card (Potentially copied Token Card as Token Card was released first)
- Bad Reputation as many think it could be a scam (whether it is or not, it is the public image)
- Marketed to be the "Premium Crypto Card"
- Lower Transaction Fees then Token Card
TenX Card
- App that is already on the market
- ICO just launched and sold out really quick
- .01% Cash back - Meaning you get a TenX Token (%) for each purchase you make
- Push notifications every hour saying how much you earned (unknown whether they will be sent via Ethereum Network. If so it will be very costly)
- They want to eventually allow all Crypto (Main) coins
- 0 Transaction Fees
I do not give financial advice, but my favorites are (in this order) Token Card, TenX Card, then Monaco Card (take that as you will). What do you think? Let me know below.
If you like this post feel free to "Resteem" this post and follow me at "https://steemit.com/@cryptowallet"
Thats a great analysis of some of the more popular cards. Thank you! I found this helpful
Cool. Thanks for the info. Does anyone know how this stacks up compared to bittpay and shift?
Exactly what I'd like to know. I mean these two cards are already working and being delivered to market. I've used both at actual merchants without any problems.
With this development, cryptocurrencies are becoming mainstream to the public. In fact, in Philippines and Thailand, it has been officially approved as a legal payment method which went viral. More information about this here.
I was personally really impressed by the CEO of monaco making 21 videos answering questions and posting them on youtube:
After watching the videos, it gave me a much better understanding of how the CEO thinks.
That was nice, but he only did that because people called his card a scam... If no-one said anything, he probably wouldn't have done that
Yea, I heard the rumors. Hopefully Monaco turns out to be legit. I like the name and concept, although I also like Tokencard as well. Thanks for the review Mr cryptowallet.
Is there anything wrong with that? Seems like the appropriate response to getting called a scam. Otherwise this might have been a bit of overkill.
Without any fees???
merchant pays the fee, similar to every other VISA card we currently use (merchant = seller, for example Amazon, eBay, Walmart, 7 Eleven, etc.)
Does Tenx have no transaction fees? If this is true I think they will be the clear winner.
correct – merchant pays the fee, similar to every other VISA card we currently use (merchant = seller, for example Amazon, eBay, Walmart, 7 Eleven, etc.)
Great analysis. Thanks a lot for the information.
TenX appears to be a Winner. From the detailed groundwork to an elegant concept to a tightly delivered whitepaper... Partnering with other proven Winners... Geolocation in progressive Singapore and sound legal foundation... But, most of all the TenX Team's underlying philosophy and spirit of fairness.
Couple those elements with a top team, a boots-on-the-ground wallet and existing credit cards, excellent and continuous communication throughout the processes and just the gut feeling that this Team have their stuff together and will achieve their stated objectives - well, as I observed earlier, Folks, we have a Winner and a definite HODL with PAY.
As with everything, there are no guarantees expressed or implied, but TenX appears to have considered and mitigated to the degree possible at this stage, "... The known knowns, the known unknowns..." and as for the "unknown unknowns"... Who can know? In any event, a Big Well Done to the TenX Team!
Hodling'
Dr. Julian Hosp of TenX continues to make videos and continues to keep people up to date even after the ICO. You get the definite feeling that things will move along quickly. It's great to have such an energized, competent team.
I didnt like the way they falsely advertised Vitalik CEO of Ethereum was involved in the project, So i passed on it sorry. Token Card did however just join Ethereum Enterprises... something to consider
there quite a lot of ico's lately,but talking of the crypto debit card, i think i like the concept of Tenx card and have invested on there ico as well,hope it went well. kindly follow me @cryptohunt for more crypto talk.
Looks like we're on the middle of the Crypto Card wars. I have bitpay which is absolutely awesome but i think i might get one of these as well. Are these available in the US? I know the ico was closed to people in the US, i wonder if the card is as well?
These guys are quick to respond to their correspondence. I asked when the visa card would be available in the USA; I received a reply within 24 hours stating that the goal is to have them available by Q4-2017.
Which one are you referring to????
I believe he's referring to the TenX Card
wow nice post :)
Crypto Debit cards are really handy to convert fiat money to crypto. This is an interesting post.
Umm I'm pretty sure it's the other way around. I don't think you can deposit cash into your account, at least not yet but you can withdraw cash from your crypto.
How does the government track your spending on these cards for tax purposes.
good question.. lol
Are the goods purchased not already taxed? Otherwise don't we have double taxation here?
nice video
At the moment i use Shakepay. I bought with it my first normal Stuff today (Milk 🐮). That was a super and exciting feeling 😄
Cool, great topic and videos
This post has been ranked within the top 50 most undervalued posts in the second half of Jun 26. We estimate that this post is undervalued by $74.56 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jun 26 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
totally just re-steemed this.. I would jump aboard getting one!
Thanks for this post and listing the pros in your opinion for each of these cards. Can you elaborate on why you have them ranked in that order (Token, TenX, Monaco)?
Great review.. I have been looking at few and was not totally sure which one I would go with. This really helped. Thanks
Any info is nice, however, what currency does TenX accept? Is the value held as BTC or tethered to a currency of choice. Are they available in US?
Currently only BTC, but other crypto on the way like ether & dash. Recommend downloading the app, then you can see the status atm
Don't they already accept ECR20 tokens?
These debit cards core ideals are valid, and want to bridge between virtual and real world usage. They have each their selling point. But finally it might not be enough because even traditional normal "co-branded / shared" debit/credit cards are facing an identity crisis; giving points, airmiles, shopping points, branding with football teams - its minor differences that don't add big value or create a wave of paradigm shift.
Without that, the cards can survive, the ICO, the tokens yes. But they won't have the capacity to take-off to a higher level. So do be careful and research further - is it reasonable to invest too much or not into these tokens.
To top it all, DASH came up with a debit card that has no commission taken from the fees.
Still - debit card / credit card - their wings are clipped due to the fact they have compliance with the regulatory board(s) and with the debit card underlying system.
All the best!
Why is Bitpays card or Shift not listed in this overview? It seems like they both are the only two with working cards.
https://bitpay.com/card/
https://www.shiftpayments.com/card
One of my biggest concerns is whether or not purchases made with any of these cards, including existing ones like BitPay and Shift, will make it easier for the powers that be to associate my identity with any crypto wallets behind them. Would be interested to gain insight from anyone who has experience using them.
KYC compluance makes it possible, yes .
Thanks for the comparison. I was Googling these and found you. I have a little TenX coin already and defnitely think it's got the headstart and might be the big winner overall. But I also just purchased some TKN and MCO today based on all the buzz and tips from the "alt gurus" out there. As an industry meeting an emerging need, crypto-debit cards are sure to catch on. They might not all three go tot the moon, but they might all three do well.
Someone told me that TenX won't be available to US customers. Do you know whether this is true or not?
Maybe Q4 2017
https://www.dashforcenews.com/tenx-dash-debit-card-slipping-dates-proposal-update/
and
So when does the token sale end for Ten X?
oh it looks like it started july 8th , so october 8th ;~)
Centra?
Interesting blog. Interesting to see I'm not the only one that is thinking about this. I've been asking myself. How many people really do a proper background check before seriously investing in an ICO? I found this great website: https://www.coincheckup.com Complete Coin analysis about the team, product, communication transparency, advisors and investment statistics.
Hi; Wirex community manager here!
Great review; I just wanted to ask if you've tried any other providers or have you even tried Wirex?
Bitcoin debit cards are not something new; we've been around since 2013 and we have over 850,000 customers that have transacted over $1Bn.
We are working on a new card provider and are hoping to get it online as soon as possible available worldwide:
https://wirexapp.com/introducing-new-contactless-wirex-payment-cards/
Unlike all these new comers, we've been around since 2013, we have our own inhouse dev team (our biggest overhead) who've created an amazing blockchain that links banking to Bitcoin; ensuring the lowest possible rates: (https://themerkle.com/what-is-w-pay/)
We are also one of the first to offer a SegWit enabled Bitcoin Wallet with a mobile app; that would allow you to convert your Bitcoin (or 45 other Crypto's) into $,£ or Euros instantly.
We also have an in-house support team that can help out when you get into difficult situations (~~~ embed:Bitcoin/comments/70npq3/someone_stole_61_from_my_wirex_account_help/) reddit metadata:fEJpdGNvaW58aHR0cHM6Ly93d3cucmVkZGl0LmNvbS9yL0JpdGNvaW4vY29tbWVudHMvNzBucHEzL3NvbWVvbmVfc3RvbGVfNjFfZnJvbV9teV93aXJleF9hY2NvdW50X2hlbHAvKXw= ~~~
Try us; promote us using an affiliate link and make a dividend on every transaction that your your affiliate link leads to!
How to earn Bitcoin by being a Wirex Affiliate:
https://www.facebook.com/wirexapp/videos/619419768228527/
We hope to see you try our platform:
https://www.wirexapp.com
Raphael
Wirex Community Manager
I've heard that there has been a recall for TenX cards outside Europe. Does anyone know if this is temporary?
Yes there is. Its even worse now as Visa has cut ties with the card issuers. Bitpay and Monaco were not affect. Probably shift as well.
Not temporary.
Wavecrest was shut down by VISA for good.
Its customers (TenX, Cryptopay, etc) sent cards to users outside Europe where they had to license to operate.
VISA doesn't tolerate breaking of rules and banned Wavecrest and with it every card which operated under it.
One of the very few survivors is Monaco because they apply for operation region by region through Wirecard. It takes longer, but is here to stay by being compliant.
Can anybody help with the reading and writing of steem cards? Wouldn't it be the same thing as writing tracks on a magnetic strip?? Just curious as to how simple this might be to just create an idea , create a website, sell your coin in an ico , and create a debit card with your coin... Any ideas or does #steem take the cake?
With time it may just be possible.
Any info on what happened to tenX after wavecrest was revoked?
They are in limbo.
Nothing on the horizon.
You're on the @abusereports naughty list! Bad Steemian!