RE: Should I Use My Visa Shift Card for Everything??

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Should I Use My Visa Shift Card for Everything??

in bitcoin •  7 years ago 

The only fee I pay for the Shift card is a $10 one time fee to get the card. There are no annual fees and/or recurring fees. Yes, it costs me a bout 4% to buy BTC at Coinbase. My thought was to just buy BTC weekly with the fee and then use the card to pay for my lifestyle (which is pretty simple).

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I use my steem and SBD from here, and sell for BTC, and load that onto mine to spend. So that way you never have to buy it, if you can make enough on here, that would be lit! I bet you could make $50 or $100 a week on here soon, and that would be great to exchange into BTC to load on there every week. I had a post I made a few months ago for example that made $53 about the west coast electric highway , and 7 days later you get the steem so you could do that once a week easy!

Sounds like a good plan. Mainly for 2 reasons:

  1. By investing a regular amount at a scheduled frequency, you'll be dollar cost averaging BTC which, overall, is the best way to invest in it.
  2. If you were to use this visa only when the price is at least 5% higher than the last buy (and staying within that amount), you can break even and actually be bridging using btc and old mediums to start using it.

Just like if you spend less than you make, here, if you spend less than you invest, you'll spend profits and gain capital. All the while the only risk is what is on the exchange (ideally you move extra amounts to your own wallet).

I like the idea.

Thanks. I am going to go all in I think and give it a try.

Actually, you can deposit money from you bank account into your Coinbase USD wallet, then go to GDAX which is owned by Coinbase (same login username and password) to do a Limit Buy and there are no fees. I do the same thing in reverse when I am transferring money from BTC back into my bank account.