The blockchain has been the greatest tool in the fight for decentralization in the past decade and we don't get tired of saying that it doesn't look like there is any reverse movements in sight. Major problem with FIAT currency is the limited speed at which money can move and reach designated hands.
The blockchain has been the greatest tool in the fight for decentralization in the past decade and we don't get tired of saying that it doesn't look like there is any reverse movements in sight. Major problem with FIAT currency is the limited speed at which money can move and reach designated hands. If any of you have ever tried to extend monetary help to someone on a Sunday afternoon then you are well aware of what we are talking about. We are dedicating our following article to talk about ATM cards that operate with bitcoin.
Why bitcoin card over FIAT?
Most of the bitcoin ATM cards allow you to use your funds upon 1 confirmation and you can withdraw it from any automated teller machine that accepts your format card. Just like regular bank cards, bitcoin ones come in VISA and MasterCard while allowing to withdraw funds through any machine which accepts international cards.
Now in a case where your relative or a friend lives in Shanghai and you are trying to send them some money on a Sunday then your options are limited and close to none while if the person in need happens to own a bitcoin card then that problem could be solved in the matter of one bitcoin block. Send bitcoin to your friends card wallet and have them withdraw the money as soon as new confirmation, which usually takes right around 10 minutes, hits in you have your money!
BitPay is known as one of the biggest global bitcoin payments service provider and enables thousands of merchants around the globe to accept bitcoin payments for their goods and services. Their latest addition to the bunch is physical bitcoin VISA cards that carry huge limits!
If you happen to reside in one of the countries that BitPay delivers their card to then you should opt for the low fees and trustworthiness of BP when choosing your bitcoin card.
Your card is loaded by unique wallets that are generated each time before depositing (sending bitcoin). Your funds are available for withdrawal or PoS-payments as soon as your transaction gets one confirmation.
XAPO is only banking services provider which gives you a bitcoin ATM card which doesn't convert the funds into FIAT up until the moment that you perform the transaction. Meaning is that your funds are always stored in bitcoin and only converted whenever performing a payment or withdrawing cash from the ATM.
This is a convenient way for anyone wanting to reap extra gain on the price fluctuations while not minding the possible downfall of it. Since the funds are never converted then you are unable to withdraw your money before 6 confirms have passed.
Xapo card cannot be ordered if you are living in the USA and carries slightly higher fees than any other cards.
SpectroCoin is more of an exchange platform than just a wallet and bitcoin cards provider. There is no unique twists or additions to the bitcoin plastic card that Spectro provides.
Your funds are converted into FIAT upon you loading your card. Funds are available for spending as soon as your transaction hits 1 confirmation.
These are top three choices when it comes to the bitcoin ATM cards as of today but don't get us wrong these are definitely not the only ones out there. There are quite an extensive selection if bitcoin ATM cards available to each and every preference but majority of them are same in the basics. Have you been using any of the bitcoin cards? Do you know of any other good bitcoin card provider? We are looking forward to your comments below.Filed under: General, Bitcoin ATM Card, Bitcoin, BitPAY, XAPO, SpectroCoin