Crypto Wallet Vows to Offer BTC Withdrawals to Credit Cards

[Carsten]

Another project to have a card to withdraw crytpo to fiat.

"A multicurrency wallet has announced that it will allow users in the European Union to withdraw Bitcoin to their Visa credit cards.

Lumi Wallet says its new feature has been built with simplicity in mind, with an easy-to-follow Know Your Customer procedure. Transactions can also be initiated quickly, meaning crypto enthusiasts don’t need to jump through endless hoops."

https://cointelegraph.com/news/crypto-wa...edit-cards

[BobBobert]

I have not heard of Lumi before (that I can recall) but whilst you can buy BTC and ETH you can only sell BTC using it. I say "only" but it is the obvious one to go for of course. Definitely a market for this but I think most people would not need to sell BTC is such a rush as to maybe get a poorer rate.

[Carsten]

I have not heard of Lumi before (that I can recall) but whilst you can buy BTC and ETH you can only sell BTC using it.  I say "only" but it is the obvious one to go for of course. Definitely a market for this but I think most people would not need to sell BTC is such a rush as to maybe get a poorer rate.

According to their website they support many different tokens https://lumiwallet.com/assets/, but only btc, eth, eos and bch  coins.

Sure there is a market for this. Exchanges are greedy when converting to/from fiat.

[Hugues]

This is what I read earlier today:
https://www.theblockcrypto.com/linked/56...debit-card

[Carsten]

I don't use Coinbase. Too expensive and even worse there are rumours about people who cannot withdraw for more than the equal amount of $10 in Bitcoin.

[Hugues]

I don't use Coinbase. Too expensive and even worse there are rumours about people who cannot withdraw for more than the equal amount of $10 in Bitcoin.

Just to let you know crypto is getting more and more adoption.

[Carsten]

I don't use Coinbase. Too expensive and even worse there are rumours about people who cannot withdraw for more than the equal amount of $10 in Bitcoin.

Just to let you know crypto is getting more and more adoption.

Yes and we are happy for that. A farce took place this week where Junior was transferring 0.5 Euro to an exchange account to get his bank account verified. His bank flagged the transaction as suspicious and stopped it. He got told to call them about it and they claimed that the account he was sending to was a scam account. He told them it was not and even said that he took the full responsibility for the transaction, but ..... Next day they called him and excused that they were wrong. The worst is that they keep so much track of what we do that they are almost worse than Facebook and Google. What is also very bad is that they don't do the transfer instantly. No no it has to be processed and approved. It's a ridiculous old system and why we really need crypto that can do what the banks can't in milliseconds.

[BobBobert]

Horror story but I can see the sense of the bank intervening. However they should have then acted better/faster once they knew it was ok. Banks approve faster here in the UK now than even just a year ago. The one I find strange is putting a cheque into my account - if I go to the bank and use a human, it takes 3 days, if I go to the bank and use the machine beside the human, it takes 24 hours to clear! But it used to be 5 working days so now much faster but still not fast.

[Carsten]

Horror story but I can see the sense of the bank intervening. However they should have then acted better/faster once they knew it was ok.  Banks approve faster here in the UK now than even just a year ago.  The one I find strange is putting a cheque into my account - if I go to the bank and use a human, it takes 3 days, if I go to the bank and use the machine beside the human, it takes 24 hours to clear!  But it used to be 5 working days so now much faster but still not fast.

Normally when I transfer money to the account from the same bank junior is using it's there later in the day. Maybe because I'm ranked high in the banking system. What it really means is that the more money you have the cheaper it is for you.  It's an evil system.

[Hugues]

Horror story but I can see the sense of the bank intervening. However they should have then acted better/faster once they knew it was ok.  Banks approve faster here in the UK now than even just a year ago.  The one I find strange is putting a cheque into my account - if I go to the bank and use a human, it takes 3 days, if I go to the bank and use the machine beside the human, it takes 24 hours to clear!  But it used to be 5 working days so now much faster but still not fast.

Normally when I transfer money to the account from the same bank junior is using it's there later in the day. Maybe because I'm ranked high in the banking system. What it really means is that the more money you have the cheaper it is for you.  It's an evil system.

Such a system is a shame. When it comes to paying to the bank; will they also wait a few days longer for people with few money?
I don't think so.
Ban the banking system!