Using prepaid card for cyrpto.

Discussion in 'Bitcoin and Cryptocurrency' started by MisterSuperGod, Dec 3, 2019.

  1. According to ABRA, select prepaid debit cards can be used to purchase BTC.

    i wish i had known about this last year when i tried every which way to buy crypto with a prepaid debit, before ultimately giving up.

    Hopefully this info is helpful to someone in the future.

    You can add money to your Abra Wallet using the following Eligible U.S. American Express Cards: Any valid (1) American Express Consumer Card issued by American Express, (2) American Express Card issued by a licensed third-party licensed to issue American Express-branded Cards and (3) registered American Express general purpose reloadable prepaid cards* including American Express Serve® and Bluebird® cards.

    *Prepaid cards require a positive balance before the card(s) may be added in-app.
    Grayscale Compounding likes this.
  2. Praeceptorem

    Praeceptorem Member

    Is that easier for you than using cash to buy locally at an atm or is this to insure anonymity?
  3. JC Grifter

    JC Grifter Member

    I was looking into trying bitcoin to start making purchases instead of WU. My understanding was using bitcoin was Anonymous. Why do I have to put in my full name, address, last 4 ss# picture of my ID, and a picture of my face? That’s my first issue. Second I had planned to buy the bitcoin through cash app and then transfer it to another wallet (I downloaded blockchain) every time I copy and paste the address or scan the QR code with the cash app, it says can’t locate address. Am I doing something wrong? I’m about to just go back to WU
  4. Easier if you have an ATM nearby. At last check, the nearest for me was hours away.
  5. If you're using an exchange, Uncle Sam wants to know about it so that he can get his fat fingers on a piece of the profits.

    Some ATM's only require ID for large purchases or you could go with something like local bitcoins to keep anonymity.
  6. JC Grifter

    JC Grifter Member

    What do I do with it after I purchase from an ATM? Wouldn’t I still have to transfer it to a wallet? My issue was all the info I needed to enter to creat the wallet in the first place making it not secure and Anonymous. So wouldn’t they also be able to track my transaction to a source then ? Or am I not thinking about this correctly?
  7. MindlessWork

    MindlessWork Member Supporter

    Oh yes thanks to US laws ALL exchanges that do business with US citizens are required to collect and verify ID information otherwise they will not be allowed to do business with US citizens. I am sure there are some that fly under the radar and not ask for any ID of any sort.

    I also believe the EU requires something similar to KYC and AML.
  8. All transactions are kept on a public ledger, there's really no way around that, but give this page a read about anonymous wallets.

    Choose From This List Of Best Anonymous Bitcoin Wallets Of 2018
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  9. JC Grifter

    JC Grifter Member

  10. The deposit cryptocurrency option under the add money tab (after clicking your desired coin) will give you an address.
    JC Grifter likes this.
  11. JC Grifter

    JC Grifter Member

    Thanks again for your help!
    MisterSuperGod likes this.
  12. MindlessWork

    MindlessWork Member Supporter

    I tried using various prepaid cards (even a BlueBird card) with coinmama, making sure they can be used workie. Only thing that worked was my bank's debit card.