Skip to main content

Using your Bitcoin in everyday purchases and withdrawing it straight to cash



A lot of Bitcoin users love the currency, but if you need to use some of it in the real world, there are generally speaking a ton of hoops, as well as long wait times.

  • For instance, a normal workflow would be:
  • Transfer Bitcoin to exchange
  • Exchange Bitcoin to local currency (USD, CAD, etc)
  • Wire the currency to a third party service
  • Transfer to bank
So there is a lot of room for improvement here.

Bitcoin Debit Card

You've likely heard of these, especially if you've been in cryptocurrency for a while but they are actually pretty great to have.

I use WageCan and haven't had one bad experience so far. I want to outline the positives and negatives of these kinds of services (but specifically WageCan).

Pros

  • Use your bitcoin for everyday purchases.
  • Withdraw money from ATMs.
  • Bitcoin you leave in your wallet earns 0.009% interest every day.
  • Cheap debit card

Cons

  • Transaction fees
  • Depending on the card you may need to wait a short period of time from loading to using

To summarize, as with any service you will end up having some kind of fee table to deal with but from my experience, these fees are VERY reasonable and well worth it. I've used WageCan for a couple years now and I've probably used 1.5-2 BTC through their debit card service without a hiccup.

If you're looking to bridge the gap between buying online and having bitcoin ready to spend right in your pocket, this Bitcoin Debit card is an excellent solution.


Do you have experience with WageCan? Or do you have experience with other Bitcoin Debit cards? Let me know in the comments!
Labels:
Location: Toronto, ON, Canada

Popular posts from this blog

MinerGate

MinerGate is very interesting Mining pool with it's own mining software AND web mining (something that I've personally never seen).

It is primarily used for mining cryptonote coins. If you have a slower CPU/GPU machine, it might be something you can get a reasonable yield out of. With much lower global hash rates, you have less competition for shares.

Some cryptonotes have to be exchanged into a different coin before bitcoin but some like BCN can be exchanged straight into BTC (if that's what you're looking to do).

Start Mining Simply download their GUI miner, and you can start at least mining with your CPU almost instantly. The second route is to navigate to their home page and scroll down past their GUI and download their open sourced mining software (if you dont like using these, just stick with the GUI).

Fairly easy to set up, they're basically plug and play. Here's a simple set up for the Claymore CryptoNote GPU:

setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_…
Read more

BTC-Flow

Today I'll be giving a bit of a look into BTC-Flow. It's a game based bitcoin faucet that has me pretty into it. No more of the jumping from site to site clicking your way through pop ups and other fun activities.

The concept of the game is that you run a  company. At first, your company mines bitcoin and has a earning rate of 0.0000015 BTC/Min and your max capacity is 0.000012 BTC. Your part in running this company is getting the bitcoin from your company either before or after your max capacity is hit. You then need to click once your bitcoin capacity is reached to put that balance into your main bank. From here you basically repeat this as much as you'd like. If you really enjoy this, you can "level" your business with bitcoin to increase capacity and earning/min at any point.



If you like faucets, you need to check this out. BTC-Flow.com
Read more

Antminer S3 Setup Guide & Review

OverviewThis is for the Antminer S3, mine are batch 11. So to get started, the units are very nicely made from my experience, and actually not too bad to get started with. You're going to need your miner, a PSU (power supply unit, like the one in your PC) and an Ethernet cord.


S3+ Specifications:

Hash Rate: 453 GH/s±5% with great OC potential
Power Consumption: 355 Watt at the wall 
Power Efficiency: 0.78J/GH on wall
Power Supply: 12V DCSize:  331 mm x 137 mm x 160 mm Fans: Two 14038 fans mounted on both front and back ends
Operating Temperature: 0 °C to 35 °C
Read more