Post
Topic
Board Bitcoin Discussion
Re: Visa Launches An Exclusive “No Limit” Bitcoin Card
by
Rikafip
on 14/07/2022, 16:44:20 UTC
Of course this card provides no technical benefits to other Visa-based cards, but to me that's never been the benefit of having these cards.
The main benefit is that you can spend your crypto in an easy way. Another big advantage is that majority of them have cashback program so if you use your card regularly, it adds up.

In many European countries BTC purchases via these cards leads to 0% tax (as it's for a purchase), as opposed to simply selling to fiat and buying what you want. So clearly there is an enormous tax-based benefit in being able to purchase something with 0% tax as opposed to up to 40%.
That is maybe for now, but all this will eventually change (my guess is very soon, within year or two) and Binance will start sending reports to tax offices across Europe countries and then we will have to pay the taxes. Theoretically, we should already report all our crypto debit card spending, but I don't know anyone that is doing that.