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Bitcoin Product of the Week - BitPay’s First Bitcoin Debit Card Raises The Bar

Bitcoin Product of the Week - BitPay’s First  Bitcoin Debit Card Raises The Bar

Bitcoin Product of the Week - BitPay’s First Bitcoin Debit Card Raises The Bar

The current crop of Bitcoin debit cards, the first generation, are fraught with limitations. Many are not available to American citizens, one of Bitcoins biggest markets. $200 USD ATM maximum withdrawal limits, and a lifetime limit of just $1000 USD, without ID verification, is another common one. BitPay’s first Bitcoin debit card was revealed at this year’s Consensus conference in New York. The new BitPay card solves many of the issues common to the early adopters within the Bitcoin community who still have to live in a fiat currency economy.

This is more like it

Bitcoin Product of the Week - BitPay’s First  Bitcoin Debit Card Raises The BarFor those who would rather not jump through hoops that include utility bills and banking statements to use a debit card, BitPay has you covered. Verification is amazingly simple, with only basic identification required (name, address, DOB, and social security number.) The card is bought for $9.95 worth of Bitcoin, which is also about half the going rate for a Bitcoin debit card, and it will be received in about two weeks.

The Atlanta-based company wanted to keep card use for purchases, or deposits, in the U.S. are free, and this was one of the ideals, according to BitPay’s CEO Stephen Pair. ”There’s a fee to start the card and for accessing an ATM. We intentionally wanted to make loading bitcoin free of charge," he said.

If you actually want to receive a good supply of cash from your BitPay card, the card won’t stand in your way with low limits. Daily limits are $3000 USD and each ATM use will allow $750 USD. The card can hold up to $25,000 USD and up to $10,000 can be spent daily. If you lose the card, give them a call and you’ll receive a new card in the same 7-10 business day timeframe as the original, and the same $9.95 worth of BTC will be deducted from your account balance.

Personally, I have been in the market for a new card, and this checks all of my boxes. Higher limits, less personal identity information needed, low costs to acquire and it is available in all 50 U.S. states. It looks like BitPay did their homework and hit the Bitcoin debit card market where it needed the most work. Well played!

Author : Evander Smart

Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

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