In 2012. CNN ran an article with a high-profile headline about the creation of bitcoin cards. At that time, Eric Voorhees, head of communications at the BitInstant exchange, announced the creation of the first plastic card with support for digital coins. And it was indeed issued jointly with Mastercard, but this project did not cause much excitement among users. Later BitInstant closed down, its CEO was arrested for money laundering, and Eric Voorhees became the CEO of another company, which has nothing to do with debit cards yet.
How to get a bitcoin card
In recent years, there have been a number of firms that have caught fire for the idea of issuing cryptocurrency cards. In 2015, the Bitfinex exchange announced a partnership with Blade Payments and announced the issuance of debit cards for its customers. In 2016, BitPay processing service in partnership with Visa presented its own bitcoin debit cards. Using them, platform users were able to load funds in cryptocurrency, pay for purchases through POS terminals, and cash out at ATMs. A year later, BitPay representatives said that the cards would be available in 131 countries, and that about 20,000 people around the world had already applied to pre-order the payment tool. Convenient terms will be available to you at https://cryptopay.me/referral-program.
Also in 2017, the Singapore-based startup TenX launched an ICO and raised 245,000 Ethereums to launch a cryptocurrency bank card project. The company is still afloat to this day. Customers of major Japanese cryptocurrency exchange bitFlyer were also able to use Visa prepaid cards. A debit card for cashing out digital money and purchases was also issued by the British company London Block Exchange.
On July 10, 2018, the Litecoin Foundation bought about 10 percent of German bank WEG Bank to create a Litecoin card, which then never came to fruition. Nor was the LitePay processing service launched due to “hostile actions” by payment card issuers.
It took the creators of LTC an entire year to make the issuance of plastic cards possible again. On June 18, 2019, the official Litecoin Foundation Twitter account announced a partnership with digital asset exchange Bibox and blockchain company Ternio. The partnership will include the issuance of physical debit cards that allow paying for goods and services using cryptocurrencies.
A week before the announcement, Coinbase said it would issue a cryptocurrency debit card in six other European countries: Spain, Germany, France, Italy, Ireland and the Netherlands. The card is tied to Coinbase’s mobile app, and holders can use it to spend BTC, LTC, ETH and other digital coins in places that accept Visa cards.
Despite numerous announcements appearing online, not all debit card projects have been brought to a logical conclusion. According to many developers, the creation and mass adoption of cryptocurrency “plastic” is being hampered by various problems that exist in the digital industry. Although you can use a reliable modern solution https://cryptopay.me/.