Xapo introduces a Bitcoin debit card
Posted by: Timothy Weaver on 04/24/2014 02:50 PM
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Want to spend those Bitcoins? A company called Xapo is introducing a Bitcoin debit card and will allow cardholders to spend their Bitcoins anywhere that something like MasterCard is accepted.
Xapo offers a Bitcoin Wallet so that when a customer wants to pay with Bitcoins, it first confirms that the funds are available in the Wallet and clears the transaction. Xapo then removes the appropriate amount of coins from the wallet and sells them thru Bitstamp, which is currently the largest Bitcoin exchange.
Xapo is not the only one in the game. Cryptex also offers a card that works with an estimated 90 percent of ATMs, and at retailers where Discover is accepted. Cryptex is a little different in its method in that it charges a fee to make the exchange, similar to exchanging currency in a foreign country.
For safety sake, Xapo also offers a Bitcoin Vault service. Charging a 0.12 percent annual fee, the Vault insures users against hacking, theft or bankruptcy.
Xapo is accepting pre-orders for Bitcoin debut cards now, and expects to ship them in two months.
Xapo offers a Bitcoin Wallet so that when a customer wants to pay with Bitcoins, it first confirms that the funds are available in the Wallet and clears the transaction. Xapo then removes the appropriate amount of coins from the wallet and sells them thru Bitstamp, which is currently the largest Bitcoin exchange.
Xapo is not the only one in the game. Cryptex also offers a card that works with an estimated 90 percent of ATMs, and at retailers where Discover is accepted. Cryptex is a little different in its method in that it charges a fee to make the exchange, similar to exchanging currency in a foreign country.
For safety sake, Xapo also offers a Bitcoin Vault service. Charging a 0.12 percent annual fee, the Vault insures users against hacking, theft or bankruptcy.
Xapo is accepting pre-orders for Bitcoin debut cards now, and expects to ship them in two months.
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