I am looking into getting a Crypto debit card: https://wirexapp.com/
Just wondering if anyone uses them and what is your experience with this card or similar cards
My thinking is this and please correct me if i am wrong. I hold 7 different coins in my wallets and next year i think we should see a nice increase across the market. I would like to ‘cash out’ some of my gains to be able to spend. Am i right in saying that i can transfer from my wallet to my Kraken exchange and convert this into a stablecoin so i keep the value. Here i can then transfer it across to the crypto card and spend in shops…etc
I dont think i should send my Bitcoin to the debit card as the price is very volatile. Dont know much about Stable coin
Another option is to transfer the bitcoin across to the Wirex card and then transfer it into Euro.
Not sure from a tax point of view how these cards work either. Is it teachnically ‘cashing out’ if i spend in store
Thanks in advance for any tips or advice