Hong Kong Exchange ANX Launches Bitcoin Debit Card
Hong Kong. Can't get cash, Bitcoin isn't helping
This seems like a great use-case for Bitcoin to me: I can't find a way to get cash at the moment here. I'm just on a tourist visa at the moment, waiting for a better visa to be processed. When that finally gets processed I'll be allowed a local bank account, which means I can withdraw cash. Cash is required for the transport system here. Unfortunately my debit card was eaten by the ATM the other day so I have to take cash out via a credit card. This is very expensive. Cash is so common here I'm having to pay through the nose while a new card arrives. I have to pay fees also for the debit card on cash anyway. 1) I contacted many used goods sellers asking if they would be happy to accept Bitcoin. They all refused. A shop selling used goods replied that they can accept a credit card... but they charge 3% for the privilege. 2) In the population of 7 million here there is 1 person selling cash in exchange for Bitcoin on Local Trader. That person is not replying to messages. 3) Local Bitcoins has a few traders but all except one are wanting bank transfers. Banks will not take a customer here without a local ID card. 4) Even a few Taobao sellers in China have refused to accept Bitcoin. That might have been handy. 5) ANXBTC is based here but they are quite expensive for cash withdrawals and it will take a while to setup I'd imagine. Any other ideas? I only need around 10,000HKD (1,000USD) to cover buying the things I can only really get with cash over the next (hopefully just) 2 or 3 weeks. In the end I think I'm going to have to just pay the fees. It totally sucks. There should be a card you can load with cash and then withdraw. I can only assume such a thing gets abused? Edit: Thanks for all your support :) I'll be in contact
Wagecan shut down their bitcoin-to-mastercard service. Looking for an alternative ...
I live in Southeast Asia and I have used Hong Kong-based https://wagecan.com for over 6 months, I guess. The service was certainly up to snuff. They are an agent for http://transforex.com. I recently received an email from wagecan, however, that the Hong Kong Monetary Authority no longer allows God-knows-what and that they have to terminate their global service. Duh. So, I thought that I would use http://anxbtc.com, also in Hong Kong, but they have also had to shut down their global bitcoin prepaid card service. So, now I am looking for an alternative to these services, in another country, to avoid the Hong Kong Monetary Authority. Just like before, I just want to dump bitcoins onto an address, let the service do the market operations, and notify me that I can draw a given amount of USD with my prepaid card from pretty much any ATM. I also use proper bitcoin exchanges, but then for larger amounts. The dump-draw-forget prepaid card services are really good for smaller, quick and dirty, I-need-a-few-hundred-bucks-now situations. So, goodbye Hong Kong and its financial services, for now. What's my next destination? Any suggestion? ;-)
For those looking for a bitcoin debit card that can be used globally and not just in Australia...
I don't want this post to sound like an ad, but Hong Kong-based ANX is one of the lesser-known exchanges and I think most people simply aren't aware that their debit card product even exists. I've been using the international debit card from ANX for the last couple weeks, and it has helped me transition to paying for almost EVERYTHING in bitcoin (in a roundabout way, I suppose). It has a much higher limit than typical pre-paid debit cards. Other cards I've used in the past would have a $3,300 annual limit and could not be topped up once that limit was reached. The card can hold a balance of $50,000 (usd) and is limited to $1000 ATM withdrawal per day. Also the $50,000 limit is not annual, it can have that much at one time and can be recharged up to that point an unlimited amount of times. The card is free to use for POS/online purchases, but unfortunately charges 1% for ATM withdrawals. I think the exchange rate they give you when recharging is also slightly less favorable than spot price (even though they claim no top-up fee). Alas, they have to make money on this product somehow, and those fees do not seem too ridiculous. The initial cost to get the card is somewhat steep (mine was 0.37 BTC, including shipping), but it has more than made up for that in proving itself useful to me. So far I've successfully used it at ATMs, brick and mortar POS, and for purchasing online goods. Here's a link to compare the different kinds of cards they offer: https://anxbtc.com/pages/#/card-compare Note: I am not employed by ANX, just a very happy customer! I've been using their platform for trading for more than a year without issue.
Ken Lo, CEO of ANXBTC Bitcoin Exchange scans his mobile QR code by a Bitcoin ATM during a demonstration in Hong Kong Thursday, March 13, 2014. The Bitcoin Exchange unveils the first Hong Kong The ANX Bitcoin Prepaid Debit Card removes a substantial barrier for Bitcoin users by allowing them to use Bitcoins in traditional credit card payment systems. ‘We believe prepaid cards will play an integral role in a Bitcoin consumer’s day-to-day financial life,’ said Ken Lo, Chief Executive Officer of ANX. ANXbtc was founded by a trio of professionals from the banking technology and compliance industries who are vocal in the bitcoin industry. Their Hong Kong-based headquarters staffs a team of 30, and has an open door policy for customers – whether to meet the team or simply use the bitcoin ATM located on-site. Hong Kong-based exchange ANX is introducing a reloadable debit card that can be used across the globe. ANX customers load their cards from bitcoin balances (effectively selling bitcoins to ANX) or Asia Nexgen (ANX) ANX is a trading platform for buying and selling Bitcoin in AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD currencies. The exchange was established in 2013 and is legally registered and based in Hong Kong. Asia Nexgen was one of the first Bitcoin exchanges in Hong Kong to be issued with a Money Services Operator (MSO) license by the Hong Kong Customs and Excise Department.
Buy bitcoin with credit card no ID verification (4 ways)
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