Re:Coinbase Card
by vmception on Wednesday October 28, 2020 @08:41PM
(#24925844)
There have been times than I was more liquid in cryptocurrencies but it would take 3-5 business days (up to 8 actual days) before it would be in a bank account, and so therefore I was essentially illiquid.
There have been times when I don't want some financial institutions to get transactions from crypto financial institutions, which comes into play when I am considering a wire transfer from an OTC desk. OTC desks require larger amounts before talking to you.
Coinbase for example doesn't always have wire transfers available for withdrawals.
So just being able to spend from a debit card - which also gives rewards - is good.
The conversion possibilities between crypto and fiat change practically every month though. With the paypal and instant debit integration coming out over just the last few weeks after a decade of not existing and being specifically one of the financial institutions I wouldn't want to see my crypto use because their compliance officer would freak out on autopilot.
Regardless, I don't know or care how many people do it, I don't write blog posts or contribute to international headlines just because it was a solution for me. I have a transferwise card too, shrug.
There have been times when I don't want some financial institutions to get transactions from crypto financial institutions, which comes into play when I am considering a wire transfer from an OTC desk. OTC desks require larger amounts before talking to you.
Coinbase for example doesn't always have wire transfers available for withdrawals.
So just being able to spend from a debit card - which also gives rewards - is good.
The conversion possibilities between crypto and fiat change practically every month though. With the paypal and instant debit integration coming out over just the last few weeks after a decade of not existing and being specifically one of the financial institutions I wouldn't want to see my crypto use because their compliance officer would freak out on autopilot.
Regardless, I don't know or care how many people do it, I don't write blog posts or contribute to international headlines just because it was a solution for me. I have a transferwise card too, shrug.