BitStamp Launches Bitcoin Debit Card For EU Citizens


         BitStamp Launches Bitcoin Debit Card For EU Citizens

European Bitcoin exchange BitStamp launched a pre-paid debit card that can be loaded with bitcoin on Wednesday.

According to the London-based exchange, the debit card is accepted at anywhere major credit and debit cards are accepted. The card’s balance can be denominated either in British pounds, euros or American dollars.

The debit card has three stages of verification, each with its own spending limit. The most basic stage requires no know-your-customer verification and allows for €2,500 worth of transactions annually. Government ID, proof of residence, and a certified source of funds document is required for the highest annual spending limit, €125,000.

Crypto Debit Card

The debit cards can be ordered now. They are first received in a digital form that can be used only at online websites. A physical card for usage at brick-and-mortar retail stores can be ordered for $10. The card will take 10 to 15 business days to arrive.

After receiving the card, users can transfer bitcoin from a BitStamp account to it; a $10 flat fee will be taken for transfers of $1,000 or less. A 2 percent fee will be taken for anything above that.

Card holders will be able to see their transaction history, retrieve their PIN, order new cards and more at cardportal.com.

The debit card was launched through a partnership with the European and Latin American payment processor AstroPay. The London-based company operates the largest payment network in Latin America and has partnered with several Bitcoin companies in the past, including Latin American Bitcoin exchange Bitex.la, cryptocurrency development company Ripple Labs and the now-defunct exchange Mt Gox.

The card currently is not available to U.S. citizens. The Bitcoin exchange hopes to expand the service to United States, but BitStamp founder and CEO Nejc Kodrič said no launch date has been determined.


Bitcoin Price Analysis: Could Three Times Be the Charm for This Resistance Level?

Bitcoin remains in its tightly coiled range as the market continues its sideways trend for the third week in a row.

Bitcoin Schmitcoin

Op Ed: Defining Decentralization: How Ambiguity Continues to Divide Crypto

In the pursuit of mass adoption, decentralization shouldn’t be our goal, but instead a means to achieve the many different, and equally important, goals that exist for cryptocurrency users.

Paul Puey

Op Ed: Why It’s Unsafe to Store Private Crypto Keys in the Cloud

Unless cybersecurity becomes part of the fabric of blockchain and crypto with stakeholders taking it more seriously, it will take much longer for this amazing technology and currency to get the mass adoption that it deserves.

Paul Walsh

Op Ed: How Bitcoin’s Protocol of Peace Can End the Nuclear Age

Bitcoin offers an alternative to a universal security system backed by men with guns. It creates a new model of security based on cryptographic proof that can resist unlimited applications of violence, making a bulletproof network.

Nozomi Hayase