Company Of Canada Special Issue Debit Cards For Bitcoin.

Company Of Canada Special Issue Debit Cards For Bitcoin. | Canada was in crypto -currency headlines just last week after Robocoin that's unwrap the first ever ATM Bitcoin was operating in a coffee shop in Vancouver . Now it seems the Canucks are going full bore over Bitcoin adoption with Canadian companies with Coinkite and Virtex announcing Bitcoin Their debit card services to the public .

Coinkite , the more ambitious of the two , has its sights set on becoming is what They call a " Crypto - Bank . " What this means , essentially , is that's They plan to offer many of the same services as banks like checking and savings accounts , just only for crypto -currency . This avoids many of the regulatory issues Involved with calling themselves a traditional bank . Among Coinkite 's more intriguing services is solely for For further physical Bitcoin debit card. Using a new POS system supplied to merchants from Coinkite , users with a swipe cans Coinkite Their Bitcoin account debit card in-store , transferring funds instantly between the customer and the merchant .

While Coinkite 's Bitcoin payment service is certainly novel , the company must still deal with the Difficult task of convincing merchants to pay to use and set up new POS hardware to make Their Bitcoin debit cards Usable ( merchants cans print out a QR code and have users pay Their through phone , but as we've seen , mobile payment adoption is a hassle all on its own .

This is where Virtex 's Bitcoin debit card shines as a truly viable Bitcoin payment service. Technically a Bitcoin exchange service, Virtex handles both digital and standard currency. Utilizing this , Virtex has been Able to bypass Virtually all of the hassles that's come with Bitcoin payment services by Their Treating Bitcoin like a standard debit card prepaid card. Users cans Their exchange bitcoins from your account into Canadian Dollars and load syringe straight ur Canadian Their branded bank cards . These cards work with Interac POS systems and ATMs , of Which there are over 750,000 and 58,000 Terminals already available in Canada .

Like all debit cards , there are still fees attached for Most Transactions . Withdrawing money at an ATM will cost you $ 2 from Virtex plus LTD Whatever the ATM charges , and paying for things in-store will run you $ 1.50 per transaction .

Could you say while exchanging your bitcoins into standard currency BEFORE Using it with Virtex is technically cheating , until Coinkite 's POS system Catches up to Interac , Virtex may be the easiest way to pay with bitcoins yet.

Regardless of which company Catches on , both are major breakthroughs in Bitcoin payment services and liquidity, and another step Towards universal adoption Bitcoin .

Source : PaymentWeek

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