With Bitcoin’s increasing popularity, people are making use of it on an increasingly daily basis. People are spending their bitcoins not just with online merchants, but also in real world locations. The biggest hurdle is that a person mostly needs to use an app to perform Bitcoin transactions. This is why smartphones have become an integral part of a Bitcoin user’s tools.
Pulling out a smartphone every time a Bitcoin transaction needs to be done can be exhausting, though. This is where the various Bitcoin debit cards come in. Instead of inputting addresses in or capturing QR codes, all a person has to do is to give over the debit card and have it swiped in a card reader or use it for digital transactions.
The main reason a person would want to get a Bitcoin debit card is for the sake of convenience. The possibility of instant payments is alluring for many. This is combined with the fact that people know how to use debit cards. The technology has been around for decades and this removes a lot of the awkwardness that many people feel when it comes to using Bitcoin.
Another reason is that they provide people with a way to be able to do more transactions. Most debit cards have an arrangement with Visa or MasterCard, two of the biggest credit card companies in the world.
With their help, a Bitcoin debit card would be accepted in many stores where they would normally not be accepted. Additionally, many debit cards offer an ATM option where they can be used to withdraw cash from a local ATM. This lets people skip over another obstacle to Bitcoin usage, which is the difficulty of converting it to fiat currency.
To meet the demand for Bitcoin debit cards, several services have sprung up. These include Bit-X, E-Coin, Shift, CryptoPay, Xapo, and SpectroCoin. Each of them shares some basic features like being accepted in a variety of stores and being able to instantly convert bitcoins into the appropriate denomination. With the competition between them, however, these debit cards are doing their best to set themselves apart from the other Bitcoin cards.
For instance, SpectroCoin debit cards boast having one of the highest withdrawal limits among the crop. A verified SpectroCoin card actually has no limits on daily withdrawals. This makes it excellent for shopping and for travel needs.
Xapo, CryptoPay, and Shift debit cards take pride in its association with Visa. This gives users access to the Visa merchant network, which significantly increases their purchasing power. Low fees and the fact that they can be ordered from many parts of the world make these a good choice for anyone who wants to get into debit cards.
Bit-X and E-Coin are two of the more feature-packed cards out there. Bit-X is aimed at protecting the user from the volatility of the Bitcoin price market, while E-Coin emphasizes security with its better encryption and an insurance policy for potential lost bitcoins.
Debit cards are a good sign that Bitcoin is becoming increasingly normalized in use. People should aim to pick one up to make their Bitcoin dealings faster and easier.