Kruidvat sells Bitcoin gift cards with high fees

Kruidvat is selling gift cards that allow customers to buy bitcoin, available in Belgian stores and soon also in the Netherlands. The Bitcoin Starter Kit has a balance of 25 to 500 euros, but there are costs associated with the purchase. Cryptonow charges 2.90 euros for the physical wallet and 4.9 percent in commission and execution fees. After activation, the cheapest card of 25 euros leaves only about 21 euros remaining. Nearly 16 percent of the paid amount disappears in fees before the value of bitcoin changes. The recipient must create an account and verify their identity to convert the balance. The bitcoin can be stored online or offline on a physical wallet. Crypto expert Gwen Busseniers describes the starter kit as accessible, but financially less attractive due to the additional costs and the price risk of bitcoin.

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