Crypto Enthusiasts Resources, Ep. 9: Prepaid Bitcoin Visa Cards: Bitwala
This is the ninth day of my 30 days challenge dedicated to crypto resources. Each day I will post a relevant resource (used by me, or recommended) and at the end of each post you'll see a list of all the previous articles.
The bridge between fiat and crypto is becoming more and more stable and one of the areas where this is happening very fast is at the debit cards level. Since VISA / Mastercard are not really banks, but payment processors, they are more likely to embrace a new store of value, simply because this falls under their business terms. As a result, we've seen quite a few debit cards powered by a mix between Bitcoin and fiat.
One of the cards that I'm experimenting with is Bitwala. I'll leave you to discover the fine print and decide if this is a good financial tool for you, and for the impatient I will leave some short blurbs:
- online Bitcoin wallet
- VISA debit plastic cards linked to your wallet
- payment to bank accounts (SEPA included, with a low commission: 0.5%)
I met a few of Bitwala team members live, at a conference in Bucharest this spring and left with a good impression.
Like their competitor, Spectrocoin, Bitwala is preparing to launch their own crypto-backed bank, but this is out of the scope of this short article. If there will be interest, I will come back in a different post with more info.
Previous Resources
- Crypto Enthusiasts Resources, Ep. 8: BlockchainDevJobs.com
- Crypto Enthusiasts Resources, Ep. 7: Jaxx Wallet
- Crypto Enthusiasts Resources, Ep. 6: /r/Jobs4Bitcoins
- Crypto Enthusiasts Resources, Ep. 5: Icotracker.Net
- Crypto Enthusiasts Resources, Ep. 4: Coinbuzz.Stream
- Crypto Enthusiasts Resources, Ep. 3: Bitcoin Magazine
- Crypto Enthusiasts Resources, Ep. 2: BitcoinTalk Forum
- Crypto Enthusiasts Resources, Ep. 1: Altcoins Ups And Downs
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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The idea of a card linked to your wallet is great idea, but where can you use it..How many places do they accept it? I'm aware that as bitcoin becomes more and more adopted by mainstream, the more places will come...
It's a VISA card, it's accepted anywhere in the world where VISA is accepted, which means pretty much everywhere. I tested it.
So it is VISA who does the change between bitcoin and fiat currency?
Nope, you pick the amount to change and Bitwala actually makes the swap to fiat. Commissions are relatively high.
Aaah, okay... Thanks for clearing that up!!
@dragosrua, did you check other similar services as Monaco, Tenx or Xapo before you decided to test Biwala?
I have been thinking of trying on of these companies but have not had time to compare their fees and offer.
It depends whether or not these services are available in my country (Romania / Europe). I'm testing Spectrocoin, Wirex and Bitwala so far.
Hey @dragosrua , since I live in a neighboring country I would like to know ( very much ) which cards work in our part of the world.
super post i like it
This is quite a feat for the king of cryptocurrency. It is predicted that bitcoin might reach the $10000 mark by 6 to 10 months time
Nice... Cool!! Steem On!
i will try this card out looks great :D
Im always interested in how to use bitcoin for everyday activities and the technology behind them.