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Derek Ross 2y ago

Fold is launching their Visa Debit Card in El Salvador, a county that is 70% unbanked. I'm confused.

https://bitcoinmagazine.com/business/fold-bitcoin-rewards-app-announces-expansion-into-el-salvador

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Derek Ross 2y ago

I fully understand why El Salvador needs Bitcoin. I don't understand why they need a Visa Debit Card they the majority of people can't use. What am I missing?

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Pablo Xannybar 2y ago

I'm guessing they did it because:

* Regulations are obviously very favourable so it's easy

* The cost to them is low

* The articles written about it are free advertising for their product

Basically PR value.

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Derek Ross 2y ago

you're probably right, it's low cost PR.

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falsefaucet 2y ago

BUT IT HAS A WHEEL TO SPIN!

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Enki 2y ago

That makes no sense to me. You would also think they would want to fix the US side of their business because i don't know about you but i'm probably not going to be renewing my card come the next renewal date.

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Derek Ross 2y ago

im not renewing either 😃

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Enki 2y ago

Fun while it lasted I guess 😅

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Bitcoin or Slavery 2y ago

It's for the 30% banked

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Bitty 2y ago

It says you don’t need a bank account-it’s prepaid