I don't get why people like these companies that sell you gift cards and similar stuff for Bitcoin and make you pay more than you would pay if using fiat. Is the goal to make Bitcoin look inferior?
Discussion
I've never had this problem. What service do you use?
different ramps
What service are you referring to?
I dont like companies or governments in general, who only want to gain bitcoin but never pay bitcoin.
Governments want taxes in bitcoin, but they never pay people back bitcoin. Be aware of this.
I think if you’re 100% in Bitcoin and don’t want to use a kyc fiat exchange but need to buy from a business that doesn’t accept Bitcoin, this is a service to meet that need
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That woupd not be smart. Bitcoin only is for now not the right thing. Cash is also needed.
You can cash out at ATMs if needed or sell P2P at meetups.
Might have something to do with KYC and the lack thereof?
Ya I believe most people do not because they want a way into fiat if they are 100% #bitcoin
Bitrefill does not overcharge, you pay 1:1. But you're right some other companies do.
Are you sure? I tested in the past and the spread was higher.
Checked before my post, didn't find a spread.
I will test again so. Thanks.
I tested now and the spread is 9%.
I think nostr:npub1lyqkzmcq5cl5l8rcs82gwxsrmu75emnjj84067kuhm48e9w93cns2hhj2g is being tricked because he is believing the Bitcoin price Bitrefill is showing him. The cards may have no markup, but the intrinsic Bitcoin price they use to do the conversion is fraudulent. I don't know if this is the explanation, but could be. That's how many of these loved "Bitcoin-only" companies trick people.
I agree with you. In my opinion, being in their infancy, they try to cash in as many sats as possible (having minimal competition). Also, the "bitcoiners" are happy because they think they are contributing to the development of the Bitcoin standard when, in fact, they're not.
So you contribute to implement a Bitcoin Standard by having your money on a bank and pay with credit card?
If it is only one entity (or very few) cashing in sats it is not Bitcoin standard. I would try to convince activities that sell what I am looking for to do that or I would look for someone who already does it. The truth is that centralization is convenient and you can see that in these things as well.
Yes, using https://www.xapobank.com/ for example you pay with dollar or bitcoin using card and receive sats as cashback.
I see it as capitalizing on the general positive image that bitcoin is beginning to garner with the nontechnical.
it will be for this reason that the project on nostr does not collect adhesions
Hi had this kind of experience with #[2].
See: I bought a 3.1 dollar phone refill. Should be be 15 BRL because 1 dollar is more and less 5 BRL. But instead of 15 BRL I received 12 BRL.
cc #[5]
Hi there - what you experienced was a currency conversion bug. We contacted you about it and refunded half your order to make up for it.
Otherwise, when you spend your bitcoin in our app, you're earning rewards back each time and saving on your expenses. There's also no KYC requirements.
These are the use cases that keep our customers coming back. We'll have more on and off ramps available over time too.
Yes I was refunded. Is the bug fixed?
I think it's for people avoiding capital gains tax. That's the people I know who do it anyways
yes more merchants need to accept Bitcoin directly.
Because they want your sats
i use thebtcco in australia for gift cards at grocery stores like coles and i actually come out ahead (which makes sense because because then they don’t pay the 1.5-3% processing fee)
you just need to avoid prepaid VISA/similar cards
btc to giftcards is super underrated, but it might work different outside of aus. the biggest scam is ‘zero fees’, huge spread exchanges like strike
If you buy gift cards with bitcoin it avoids using a kyc exchange the would report a sale to irs. If one had highly appreciated bitcoin one could buy a gift card as a way to try and dodge taxes. Maybe selling gift cards for bitcoin could be a way to also avoid kyc exchanges to purchase bitcoin.
privacy perhaps if you a pro, but I agree should be a discount when using btc …