You need to KYC, pay 1000 usd yearly, wait for the card and its not available worldwide…
Discussion
You have to provide your phone number on Bitcoin Jungle and when you want to use SINPE, you have to sign up to Bullbitcoin/Toropagos additionally - which also asks for your name and email address.
So in order to spend your BTC, you have to get two third parties involved + SINPE + the receiving Bank.
There is not much difference to me. Neither of them are p2p payments.
That’s correct. It’s still easier and faster than selling bitcoin and using fiat. It’s an excellent solution for anyone wanting to live on bitcoin standard
It is not a bitcoin standard if you have to exchange it to colones or usd in order to spend it, that should be clear.
It is selling your bitcoin and living on a usd standard. No difference to selling gold and spending the usd.
Dont get me wrong, i like Bitcoin Jungle and i was on most of their events.
But we should be honest about what is happening.
Custodial wallets and trusted third parties are not p2p electronic cash.
Well I agree with all you said but still as a person who doesn’t hold fiat this is just super useful. I will not wait for the whole world to accept bitcoin because I may end up dying before that happens. So I highly appreciate those fiat hacks that let me use my bitcoin, even if there are third parties or custodial. They are solving a real problem for me
good!
That's pretty cool.