I got my BitPay card today!
Most of us are probably investors, traders or miners. And the majority of people may see Bitcoin and cryptocurrency as an incredibly confusing and unpredictable thing as a whole, and it's enough to drive them away for good.When I talk to people about Bitcoin, some of the first questions I'm asked are things like, "So can I change my Bitcoin back to cash? " or "But where can you spend Bitcoin?".
The BitPay card, along with other prepaid cryptocurrency debit cards, will create an accessible means to use bitcoin for the masses. The appeal of being able to pay for something with bitcoin is enough to entice many. It intrigues people when I show them you can buy things with it, almost makes it more real for them. It helps to convince the unconvinced because it makes using Bitcoin much more accessible to the average user. The BitPay mobile wallet is quite good too, not the safest by far, only as safe as your device itself. But again, it is an accessible means of holding Bitcoin and even buying it from exchanges like Coinbase and Glidera straight from within the app.
You wouldn't want to hold a lot of Bitcoin for a long time on one of these cards though, as it is no longer Bitcoin once you've sent it to the card.
It is exchanged from the current price of BTC to your selected fiat currency.
This means you no longer get exposed to the volatility of the bitcoin market.
You can look at this as a good thing OR a bad thing, but it is definitely something to keep in mind.
Always keep your long term/large investments in a safe wallet
I haven't used this card yet, but I am waiting for a more stable period in Bitcoins price, so I can spend some and buy back at a similar or lower price. I hate to spend Bitcoin and miss out on profit in the long run, but when I do use it and spend some, I'll let you all know how my experience goes! I am based in the UK and my selected fiat currency is GBP, Visa is everywhere, so I am assuming it will be a breeze.Let's all work together to keep the blockchain revolution Steeming along.
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