Hello guys,
I just got xapo bitcoin card and i would like to ask something. When i use this card at my country to withdraw money does this inform the central bank of my country ? Or does it has to do with the country's central bank the card has been issued ? I have verified my card as well with my real documents so i can use full but always with caution.
How it will appear on the transaction i do to the local bank here ? As bitcoins cash exchange or just money withdraw from another account ? Will this be known to the local bank here that i withdraw personaly or all this info stay only for the bank that has issued the card ?
I withdraw small amounts each time (under 3k per month)
Clean coins ofcourse,
Let me know guys please
Thank you in advance
First of all, does this card actually work? Xapo is a company I REALLY distrust. They try to appear both Silicon Valley AND Wall St, but are registered in Hong Kong where there are no bitcoin laws.
THEY own the company which underwrites their "insurance" and nobody else's, so if (when) they get hacked and go bust they then have to compensate themselves!
They try to give the impression your bitcoins are kept safe in a military-grade nuclear bunker with a satelite they part-rent over head for some reason, they don't explain what the satellite is for.
Bitcoins can't live in a satellite or a bunker, they don't exist. Not physically. Not even electronically. They don't "flow" through the internet like IP packets or or emails because they are just an idea.
The only thing which exists is a computer file called the blockchain which is like a giant chalkboard with everybody's bar tabs on it. If I pay you one bitcoin, my number goes down by one and yours goes up by one and it feels like a coin has moved between us, Nothing has moved becauise there is nothing TO move.
You can bet that the bunker and the satellite won't protect the bitcoin of xapo users because their bitcoin lives in the blockchain like everybody else's. Somebody with the public and private key will rob the nuclear bunker while sitting on the toilet at home. The satellite won't see anything. The insurance company will go bankrupt the same second that Xapo is hacked.
http://www.coindesk.com/xapo-looks-outer-space-latest-bitcoin-security-push/
Xapo must think we are idiots.
You are the one with the bitcoin debit card, you tell US how it works.