I need to pay via credit card but i want to use bitcoin for that. I know that there is a paywithmoon.com service but it seems it doesn't work anymore. I found https://thebitcoincompany.com/ service, can you help me to find out is it a good service and it's not a scam? or can suggest some analogue?
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35 sats \ 0 replies \ @k00b 13 Jul 2023
It's definitely not a scam. I haven't used their prepaid cards but I know many people that do. It's run by someone I know.
The CEO is abitcoinperson on Twitter and also founded Open Sats.
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51 sats \ 2 replies \ @ae52f929c 13 Jul 2023
There was a thread posted just earlier you might find useful. The timing on your question is coincidentally perfect! #208286
On that list I like Bitrefill the most. You can use it to buy prepaid Mastercards. That list also mentions BitPay which is probably nearly what you are looking for.
Be aware of how tax laws in your area work and try to get a clear understanding of how BitPay exchanges Bitcoin to Dollars when you make a transaction using their card.
If BitPay is directly selling your Bitcoin to dollars then this is a capital gains tax event you need to track. Coinbase has a card and this is what they do.
However it is possible BitPay just credits your account instead. If that is the case then the credits on the account isn't the Bitcoin you sent to it. That Bitcoin got sent to Bitpay reserves and your account got credited a value that represents Bitcoin and fiat.
That means that BitPay is selling their own Bitcoin out of their own reserves and is responsible for all of the tax events that selling Bitcoin generates. But you don't have to worry about it because you're not selling Bitcoin to do the transaction. They just do the math to maintain the credit on your account.
Strike does something like this as well but unfortunately never released a debit card.
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0 sats \ 1 reply \ @batman OP 13 Jul 2023
is it possible to return money from prepaid cards?😅
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0 sats \ 0 replies \ @ae52f929c 13 Jul 2023
I am not too sure but I don't think so. In the case of something like BitPay assuming it works as I described above they probably would also allow you to transfer back into Bitcoin. Instead of you sending Bitcoin to BitPay they will subtract the credited amount from your account and send Bitcoin to any wallet address you specify. Again the Bitcoin you're getting is just Bitcoin from BitPay's reserves. It isn't the same Bitcoin you deposited. There are some interesting implications in the details of that people can take advantage.
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31 sats \ 0 replies \ @02674f045a 13 Jul 2023
I have used their prepaid cards.
I would buy them using LN then load the number into my Google Pay app which allowed me to pay anywhere that accepted Visa via NFC.
I had to stop when Visa started charging $2/transaction for purchases in my country.
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