Resolved US credit cards

[petman]

Any guess-timates on when credit cards will be accepted?

 

[RedFox 1]

Still working on it, please check back soon, if Bitcoin is an option for you, we give you a 10% discount.

 

[Ivan]

Latest info is "first week of October".

 

[rshin87263]

The first week of october has passed any update ?

 

[John]

It will be updated as soon as it is available. Did you see the Bitcoin with Paypal guide?

Guide - Pay in Bitcoin with PayPal for US customers

Due to the nature of our products, it happens frequently that RedFox is not able to process credit/debit cards - especially if they are issued in the US. But there is a workaround if you have a verified PayPal account in the US: pay with crypto and get a 10% discount on top when paying with...

forum.redfox.bz

 

[DQ]

The first week of october has passed any update ?

I am going to make a suggestion and it is just from the customer perspective.

The credit card availability in the US is functionally only available in spurts from time to time. This is not Redfox's fault but has more to do the tyrannical nature of the world banking systems. That aside, I think you would do best to just do a little research and follow the guide linked above. Is it a little bit of a pain? Yes. Is it initially a little time consuming? Yes. But once you do it not only will you have cool software from Redfox to use but you will know more about crypto and bitcoin and have a functioning account you can use if you need too for something else and have a new payment option you don't have now.

If you are concerned about security, good, that's the proper attitude. But if all you need bitcoin for is to buy Redfox software you are fine. No one can steal from a crypto account you have nothing in. Where people lose money is when they have investments in crypto and someone steals all or part of it. If you have nothing stored in crypto there is nothing to steal That's not to suggest you play fast and loose with an crypto exchange account, you want to guard that like you would you bank login, but like your bank without something in it there is nothing to steal.

I personally suggest taking the time to pick an exchange (Coinbase is a well known and trusted on but there are many) and just buy your Redfox license with just enough crypto so that little to nothing is left in the account. And then when you are done, remove your payment method from the exchange.

Just my 2 cents on that.

 

[Tucoisbad]

You can also use the Cash App to buy and send Bitcoin from the USA, it's very easy.

 

[DQ]

You can also use the Cash App to buy and send Bitcoin from the USA, it's very easy.

Just from my perspective I find that a bit suspect. The reason crypto is a little bit of a hassle is because their is no bank involved (the entire reason for it) so you have to move around funds in a somewhat manual fashion as if you were the bank. If it's "easy" then someone is being the bank for you. Cashapp is not a bank technically but it operates so much like one they are FDIC backed. And I think they partner with banks.

I am not telling anyone to do anything or not do anything but using a bank for crypto essentially defeats the actual reason it's a good thing. But clearly everyone is free to do as they wish.

 

[RedFox 1]

Just from my perspective I find that a bit suspect. The reason crypto is a little bit of a hassle is because their is no bank involved (the entire reason for it) so you have to move around funds in a somewhat manual fashion as if you were the bank. If it's "easy" then someone is being the bank for you. Cashapp is not a bank technically but it operates so much like one they are FDIC backed. And I think they partner with banks.

I am not telling anyone to do anything or not do anything but using a bank for crypto essentially defeats the actual reason it's a good thing. But clearly everyone is free to do as they wish.

Synchrony Bank handles all PayPal credit, but it has nothing to do with BTC, BTC is BTC, it goes through a Blockchain, not a bank, it doesn't matter where you get or where you send it, it goes through the Blockchain. Nothing to fear with either one. As a matter of fact, its very good to learn.

 

[DQ]

Synchrony Bank handles all PayPal credit, but it has nothing to do with BTC, BTC is BTC, it goes through a Blockchain, not a bank, it doesn't matter where you get or where you send it, it goes through the Blockchain. Nothing to fear with either one. As a matter of fact, its very good to learn.

BTC or crypto is a great thing to learn and I mentioned just that a few posts up. My point was if you buy your BTC from a bank or bank like entity, you have negated the reason for BTC. That post you replied to was not me criticizing BTC, it was me being suspicious of Cashapp.

 

[RedFox 1]

BTC or crypto is a great thing to learn and I mentioned just that a few posts up. My point was if you buy your BTC from a bank or bank like entity, you have negated the reason for BTC. That post you replied to was not me criticizing BTC, it was me being suspicious of Cashapp.

Even Coinbase has what they call "KYC",(Know your Customer) they need names and bank accounts attached to the names. Where can you buy BTC without identification? There is nothing to fear from a bank a Coinbase, or a Cash app.

 

[DQ]

Even Coinbase has what they call "KYC",(Know your Customer) they need names and bank accounts attached to the names. Where can you buy BTC without identification, There is nothing to fear from a bank a Coinbase, or a Cash app.

Well then we will have to just agree to disagree overall. But my assertion was not that there is anything to fear. My only point was the entire reason BTC exists are so funds can me moved (and held) without a bank or a government. So if you are using a bank or bank like entity you are negating the reason for BTC.

I am not saying don't do it or to avoid it. I am simply just laying out information and opinion.

 

[RedFox 1]

Well then we will have to just agree to disagree overall. But my assertion was not that there is anything to fear. My only point was the entire reason BTC exists are so funds can me moved (and held) without a bank or a government. So if you are using a bank or bank like entity you are negating the reason for BTC.

I am not saying don't do it or to avoid it. I am simply just laying out information and opinion.

And I totally respect your opinion, but the fact remains that with BTC you can certainly trade goods for Crypto, and buy Crypto but in order to obtain it you need to go someplace to buy it or accept it for goods, and those places are mostly all tied to a banking infrastructure. Thats all I was trying to say.

 

[DQ]

And I totally respect your opinion, but the fact remains that with BTC you can certainly trade goods for Crypto, and buy Crypto but in order to obtain it you need to go someplace to buy it or accept it for goods, and those places are mostly all tied to a banking infrastructure. Thats all I was trying to say.

And I respect yours my friend. But my statement stands, if you use a bank for crypto you are defeating the purpose (and power) of it. Using an exchange yourself and doing what a bank would do is one thing. Using a bank or bank like entity to move crypto is easier and I understand that fully but it just takes away the freedom it provides. Just my 2 cents not at all trying to argue.

 

[RedFox 1]

Fair enough

 

[annann]

Any update? The bitcoin solution does have additional government filings involved for those acquiring and transferring digital property. Has anyone in the US had to go through these additional filings?

Internal Revenue Bulletin: 2014-16 | Internal Revenue Service

www.irs.gov

 

[RedFox 1]

Any update? The bitcoin solution does have additional government filings involved for those acquiring and transferring digital property. Has anyone in the US had to go through these additional filings?

Internal Revenue Bulletin: 2014-16 | Internal Revenue Service

www.irs.gov

No, that is only if you bought or sold over 10,000 USD worth of BTC, it is a requirement. There is nothing like you described, that was an old referendum that never went into effect.

 

[annann]

Just to be clear, this is the current Notice and is the current guidance since October 2023.

Even this site states: https://tokentax.co/blog/how-to-report-cryptocurrency-on-taxes
Do you have to report crypto under $600?
Is it necessary to report crypto transactions under $600? US taxpayers must report every crypto capital gain or loss and crypto earned as income, regardless of the amount, on their taxes.

and...

Form 1040 Schedule 1 asks, “At any time during 2023, did you (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?”

The answer to this question *has* to be "yes."

 

[RedFox 1]

Just to be clear, this is the current Notice and is the current guidance since October 2023.

Even this site states: https://tokentax.co/blog/how-to-report-cryptocurrency-on-taxes
Do you have to report crypto under $600?
Is it necessary to report crypto transactions under $600? US taxpayers must report every crypto capital gain or loss and crypto earned as income, regardless of the amount, on their taxes.

and...

Form 1040 Schedule 1 asks, “At any time during 2023, did you (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?”

The answer to this question *has* to be "yes."

Yes and what do you think taxes will be on 159 €? I assure you your tax rate won't change.

 

[Ivan]

If you buy crypto to make a purchase, your crypto assets remain at zero USD. So nothing to declare.
If you have no assets, where the capital gain should come from?