Felt like using my BitPay card today...
To show how easily crypto is accessible nowadays and answer some questions to people that have a hard time calling this "real life".
This was my lunch...
I know, not fancy lunch, but I had little time to eat.
Here is the transaction:
How did I do?
Assuming you already have the BitPay Card (like the one I show here), and the BitPay app/account, it's quite simple:
- Go to your phone app and load up your card with any BTC amount you wish (up to the limits, which I think to be 10k USD, but double check that on BitPay website). It will take current BTC price to convert BTC->USD. The load up process requires you to choose Normal Bitcoin Fees, which might (in some occasions) be a bit high. This will soon improve after 1 August (hopefully).
- After the transaction verifying (1 confirmation only), you will be able to spend the amount you loaded into your card. That amount will show instantaneously at your card, but I feel it will be more secure if you wait for at least 1 verification (2-5 minutes usually).
- Using the PIN code, I have did a debit VISA transaction at my workplace to buy a 3.5 NZD sandwich. That costed me, 2.59 USD plus 3% (0.07 USD) for converting USD to NZD.
How nice and simple was that!?
RESTEEM if you wish to show others what you have learned... and,
VOTE for Witnesses
Good advice. I'm American in Vietnam. I have BTC. I might get a card and do that. Does the card come from Bit Pay or a 3rd party or something? I'm asking because I'm thinking about my options. I'm thinking about different banks in Vietnam and there are probably other options too. Good post. Thanks for sharing. Enjoy your lunch. Joey Arnold Oatmeal.
You open an account at BitPay and then you can ask for the card. There are other providers that will have the same "type" of functionality (Monaco card for example) and other already out there, but I have only tested this one.
BitPay will have an associated bank that funds the VISA debit card that you hold, in USD dollars.
All you need is to fund the BitPay personal BTC wallet that you will have to create. Then, from there is 1, 2, 3, done.
Lol I just posted a question to you, but you have answered it here! Thanks again.
In Vietnam, people pay in Vietnamese Dong money (VND) and all of my money is VND. Do you think BitPay works with VND? I'm asking because you specifically mentioned how BitPay works with banks, with VISA cards, in USD.... not VND....
All you need to know is if the place where you going to buy something accepts VISA. If so, then this one will work. The VISA "Company" converts the USD dollars on the card to any other currency that VISA is working with. For that, the bank that is backing the USD behind your VISA card is asking a 3% commission on the conversion of the USD to X currency. That was my 0.07 USD transaction fee above.
The budgeter inside me is screaming $1.00 for a loaf of bread, $1 for some ham at the supermarket, ditch the butter lol save .59cents and have more sandwiches.
Thanks for the transaction!
=) I usually get food from home... but because my work is not always punctual, sometimes I need to execute plan D (B and C failed already).
Good to know bro, I've been wondering the best way to spend crypto since it has increased in value. I was wondering if the hype around the Monaco card was something to watch for. How easy was it to get a "bitpay" card? Thanks for the informative post, re-steemed!!
Ha! =) I hope it will increase a lot more... after the fork. The Monaco card is still pending the card release date. But it will be somewhere late August I believe. The BitPay card was quite straightforward, waited less than 2 weeks I beleive, after having my ID verified (2 days). Works great. There are two more cards I know of, and another one with virtual cards, but I have not tried those. Soon this will be a mass murdered market, so hard to miss. But I guess the early adopters or fast to market will gain a bit of "popularity" like BitPay. The essence is good because like any open market, competition will emerge (like Monaco is already trying to give) and better solutions will keep coming. =)
Yea I think I might try bitpay, cheers for the info on this, I really appreciate it. I think we are at the edge of a large growth phase so would expect to see may more as you mentioned
Cool cool. :)
Def real life. My first money went at a stubborn credit card. I'm cutting the consumerism, and welcoming the freedom :)
Yes indeed. There is still a bridge to cross (crypto to crypto consumerism) in terms of complete freedom, but we are on the right track I would say.
Well yes you are correct. I just basically want out of the consumer credit bs. I racked up a lot in college bevause i couldn't get enough loans or scholarships to cover everything. >_<
Great information on a useful app. I love it when we share useful stuff. Resteeming!
I wish I could always do like that. It sure makes people happy (me) to receive such feedback. Thanks
Great stuff!!! probably the most expensive lunch you will ever buy!!! :D
I hope so!
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Hehe, to pay my lunch...
Great information, thanks!
Love to see cryptos in the real world. Eat up and SteemOn!
Looking forward to the day when paying with bitcoin will be just as common as using cash
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Done! Paid for my lunch... it's crazy this whale system. Not sure how good is this for Steemit, but I will be watching.
And you can use that card anywhere in NZ?
Anywhere that accepts VISA yes.