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Bitcoin-funded debit/credit cards are on their way, expect them in 6-8 weeks

Bitcoin-funded international debit/credit cards are on their way

| Business, Financial & Legal News | Posted: Aug 22, 2012 5:26 am

Bitcoin lovers are going to find this news heartwarming, where during an IRC chat with BitInstant co-founder, Charlie Shrem, it has been revealed that his company are 6-8 weeks away from launching a Bitcoin-funded international debit/credit card that will be issued by two yet unnamed major banks. One of them will be international, with the other domestic.

 

TweakTown image news/2/5/25422_06_bitcoin_funded_debit_credit_cards_are_on_their_way_expect_them_in_6_8_weeks.jpg

 

The Bitcoin-funded card will act like any normal debit or credit card account, and should be accepted wherever MasterCard is accepted, which is virtually anywhere. The first 1,000 Bitcoin debit/credit cards will be issued for free, but after the first 1,000, the cards will set you back around $10 per card.

 

Shrem also revealed that each card will sport a QR code on the front that can be scanned to complete transactions that are under $1,000 and a printed address on the rear featuring the user's Bitcoin Address. Future Bitcoin-funded card owners should expect to pay a 1% fee to fund the card, and a $1.50 ATM withdrawal fee. What are your thoughts on the Bitcoin-funded future of debit and credit cards?

NEWS SOURCES:Techspot.com

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