Post
Topic
Board Exchanges
Re: Bitcoin debit card
by
Puppet
on 16/02/2015, 09:45:22 UTC
Sure, the reason for that is that we currently have 3 official and 1 unofficial exchange rates for our currency (and very strict currency controls and limitations in place), which makes inflation skyrocket, as we only have "access" to the worst exchange rate (black market). So, we keep looking for alternatives to safeguard our income, one of which is bitcoin (and fiat currency in general, other than our own.)

I can further explain this in detail if needed; suffice to say that a card such as this one would be highly welcome.

Not sure how you think a visa card is going to alleviate these problems. The card is denominated in US$, and each time you make a local purchase or withdraw money at an ATM, its the official exchange rate that will be applied. Im fairly sure you wont be able to withdraw US$ at an ATM there, nor can you make payments in $, it will all be in Bolivares at the official exchange rate.

A card like this might be handy if you want to make (internet) purchases abroad, but I suppose you'll have import taxes that make that about as pointless? or am I missing something ?