The popularity that is associated with Bitcoin is hard to deny but I do not know if popularity is enough. Yes, the service itself is generally very well-known but it seems as though there are other ways to go about sending and receiving money through the Internet. After all, PayPal accounts are pretty commonplace these days. It looks like bitcoin customers will have more to sink their teeth into, as Bobby Jain will attest to, as news about a debit card option rose to the surface.
The bitcoin wallet company known as Xapo looks to be at the forefront of this concept. Wired put forth an article that talked about how bitcoin customers will be able to utilize this unique type of currency, putting it forth in order to be used at a number of stores. Keep in mind that, as of now, this option will only work in areas that take MasterCard and Visa. While this might seem limiting on the surface, the mere idea of this option indicates a shift in the way that digital money is given and received.
As it stands, any bitcoin user will have the opportunity to link his or her account to a debit card option. I have no doubt that this will gain quite a bit of traction, as it cuts back on the limits seen in the past in terms of places to spend this currency in. Xapo has the goal of bringing bitcoin distribution to another plane and I think that the company is on the right track. This is especially true when given the fact that Xapo has a backing of $20 million to speak of.
The article made mention of the fact that every bitcoin customer, if they take up this option, will have only one debit card that can be used with as few restrictions as possible. To say that this is a positive nugget of news would be an understatement, which is a point that Bobby Jain could agree with. If you'd like to know specifics, the number on the credit card can check into Xapo in order to verify that sufficient funds are available. Names along the lines of Jain will attest to the fact that this concept is, on paper, quite sophisticated.
Will this option be able to attain a strong user base? I do not know if it will be able to do so at the onset, since bitcoins are not used by everyone. However, this does not account for the long-term picture, which gives me hope that bitcoin customers will take up the debit option once it comes into effect. I have no reason to believe that they wouldn't want to try it, either. To me, it only helps them to spend this type of currency in ways that will help them the most.
The bitcoin wallet company known as Xapo looks to be at the forefront of this concept. Wired put forth an article that talked about how bitcoin customers will be able to utilize this unique type of currency, putting it forth in order to be used at a number of stores. Keep in mind that, as of now, this option will only work in areas that take MasterCard and Visa. While this might seem limiting on the surface, the mere idea of this option indicates a shift in the way that digital money is given and received.
As it stands, any bitcoin user will have the opportunity to link his or her account to a debit card option. I have no doubt that this will gain quite a bit of traction, as it cuts back on the limits seen in the past in terms of places to spend this currency in. Xapo has the goal of bringing bitcoin distribution to another plane and I think that the company is on the right track. This is especially true when given the fact that Xapo has a backing of $20 million to speak of.
The article made mention of the fact that every bitcoin customer, if they take up this option, will have only one debit card that can be used with as few restrictions as possible. To say that this is a positive nugget of news would be an understatement, which is a point that Bobby Jain could agree with. If you'd like to know specifics, the number on the credit card can check into Xapo in order to verify that sufficient funds are available. Names along the lines of Jain will attest to the fact that this concept is, on paper, quite sophisticated.
Will this option be able to attain a strong user base? I do not know if it will be able to do so at the onset, since bitcoins are not used by everyone. However, this does not account for the long-term picture, which gives me hope that bitcoin customers will take up the debit option once it comes into effect. I have no reason to believe that they wouldn't want to try it, either. To me, it only helps them to spend this type of currency in ways that will help them the most.