NetCoins Prepaid VISA Thread
I know there's an existing thread announcing that it's in the works, but figured it'd be good to anchor a product thread with fresh DP's in the OP (which I can update as we go). If the mods are against this, feel free to merge, but I hope we can see value in starting a new thread for the product.
Note that the card is still being issued via waiting list, but I already got mine ordered and even took the virtual card for a test drive.
Linky me up!
but @Titaniumtux...why should I sign up?
what about downsides?
My suspicion is we'll see more features roll out later. Since the card is being issued to those on the waitlist, I'm pretty sure they'll focus on their card rollout before improving user interface.
Note that the card is still being issued via waiting list, but I already got mine ordered and even took the virtual card for a test drive.
Linky me up!
but @Titaniumtux...why should I sign up?
- it's linked to CAD balance on a CEX (centralized exchange). If you're wondering whether your funds are safe on a CEX, afaik NetCoins is the first publicly traded CEX in Canada
- Aside funding via e-transfer (CAD only), can also fund via SWIFT in CAD or USD
- Can fund on native chains as well. There's a Best of CeFi thread where all this is discussed. Some CeFi's waive one or more withdrawal fees monthly (Celsius, CoinLoan, InLock, Nexo, etc.), some allow multi-chain transfers (Celsius, Crypto dot com, InLock, YouHodler), while some have reduced withdrawal fees (Haru)
- NetCoins offers 1% cashback in BTC, without the crazy exclusion categories list on CdC
- 1.5% FTF so wouldn't use it as lead card for forex, but already a discount compared to most CC's
- Upon signing up, can request the virtual card (which can be linked to mobile wallet immediately), and the physical card (gets sent via mail)
- Easy R word incentive (reminds me of the early days of Koho). Easy $50 for both when the new signup buys a certain amount of crypto. For the crypto-phobes, can swap to USDC, then back to CAD, and still get the bonus
- Newton de-listed XRP but NetCoins supports it
- NetCoins offers limit orders and competitive spreads
what about downsides?
- card can't be managed in the mobile app
- Card doesn't offer the extensive features found on vanilla Koho prepaid card (joint account, premium, etc.)
My suspicion is we'll see more features roll out later. Since the card is being issued to those on the waitlist, I'm pretty sure they'll focus on their card rollout before improving user interface.
Last edited by titaniumtux on Mar 16th, 2022 12:13 am, edited 1 time in total.
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