I don't see a problem with it as long as you are keeping track of your finances and you know that you are not spending more than you can afford to lose.
Many peoples debit card is also tied to the account that they use to pay their bills. In this case, you are going to want to be very careful what you are spending so that you don't over extend yourself and not have the money that you need to pay your rent, mortgage, utilities, etc.
There have been times in the past that I have used a Debit card to purchase crypto currency and I have have not had any issues. My biggest problem with it is the fees that the bank charges you to use the Debit card in this way.
For example some banks will charge up to a $10 fee for a the purchase. This can get pretty expensive if you are making a lot of small purchase over the course of a week to work the averages. Likewise the fee seems to increase with the amount that you purchase. If you were to purchase $500 or more of crypto the fees could be much higher.
Debit cards are definitely the quickest way to purchase crypto unless you know someone that you can just give cash and have them transfer it to you. Bank transfers can sometimes take up to a week or more for the transaction to finally clear and the crypto that you bought to finally show up in your wallet. This can be a huge deal if you are trying to take advantage of a market dip and convert that currency from one coin to another.
Typically with a debit card your currency is in your wallet within a matter of minutes if not seconds.
Just to recap, as long as you are not spending more than you can afford to lose, I wouldn't have any misgivings about using a debit card to buy crypto.
Buying crypto with a credit card or debit card is not actually a bad idea but the person that wants to buy the crypto with the card must ensure that they are using the right and secure cryptocurrency exchange in other to ensure that their credit card or debitcard information is kept safe and prevented from data theft...
Buying cryptocurrency with a credit or debit card is a transaction that works fast and makes it easy for a person to quickly buy any cryptocurrency of your choice...
Example of a Good exchanger where you can buy cryptocurrency with credit or debit card is binance.com,the exchange is trustworthy and reliable..
If we use a debit card, no problems will occur. Fixed risk, meaning that the money that has been used will be risked.
Unlike the case if we use credit cards to buy crypto currencies. There are 2 risks that can arise when crypto prices actually experience a sharp decline.
1. You lose money.
2. Your credit is stuck, and debt becomes bigger.
So, reconsider if you want to use a credit card because there is a big risk in it.
I think it is a great idea, especially for a platform like ours where it is almost impossible to purchase steem except through exchanges. I see an inflow of more money if this is possible. Many will be willing to invest their fiat into the crypto market without the hassle of going through exchanges
I remember the first time I wanted to purchase steem. It was an impossible feat. I had to trust my money in the hands of individuals I did not know and I was not willing to take that risk. So you see it will really be helpful if something like this created.
I know that there are certain exchanges that make provision for this, however, one still has to go through the hassle of converting one coin to another, a needless process which can be bypassed if one can buy the type of coin they want to purchase.
That will be one of the most amazing things that will happen to crypto in the latest. I think Tenx are on the go for this but if Steem -my beloved crypto could go this world, then the moon will be our starting point.
However, there are pros and cons to this, Steem must first earn a mass adoption as a currency known everywhere in the world and investors have to consciously utilize it in realtime transactions.
In our business places, if we begin to use Steem for services, then soon, using a debit card would be widely accepted,