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.
Xapo, a company that markets bitcoin wallets over the Internet, has recently brought the idea of a debit card to the surface. Wired posted an article, stating that bitcoin customers will soon have access to a debit option that will allow them to spend this type of currency in various stores. As of now, this option is limited to locations which take MasterCard and Visa only. However, this is an example of the evolution that is being seen as far as the distribution of digital money is concerned.
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.
According to the article, users will have only one card to use for bitcoin distribution without any restrictions in place. This is yet another positive piece of news, as I am sure Bobby Jain will be able to attest to. The way that the card will work is that the credit card number will check in with Xapo in order to see if sufficient funds are available to finalize every purchase. It's a sophisticated system that can be seen in the long run, as names like Jain will attest to.
As time goes on, I am sure that the audience for bitcoins will grow with this particular set in place. One of the main concerns that people may have, as far as finance is concerned, is the idea of flexibility. From what I have seen, a bitcoin debit card entails a greater level of use. From this idea alone, I have no reason to believe that Xapo's idea will not only be able to gain traction but prove to be an effective concept in the long term.
Xapo, a company that markets bitcoin wallets over the Internet, has recently brought the idea of a debit card to the surface. Wired posted an article, stating that bitcoin customers will soon have access to a debit option that will allow them to spend this type of currency in various stores. As of now, this option is limited to locations which take MasterCard and Visa only. However, this is an example of the evolution that is being seen as far as the distribution of digital money is concerned.
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.
According to the article, users will have only one card to use for bitcoin distribution without any restrictions in place. This is yet another positive piece of news, as I am sure Bobby Jain will be able to attest to. The way that the card will work is that the credit card number will check in with Xapo in order to see if sufficient funds are available to finalize every purchase. It's a sophisticated system that can be seen in the long run, as names like Jain will attest to.
As time goes on, I am sure that the audience for bitcoins will grow with this particular set in place. One of the main concerns that people may have, as far as finance is concerned, is the idea of flexibility. From what I have seen, a bitcoin debit card entails a greater level of use. From this idea alone, I have no reason to believe that Xapo's idea will not only be able to gain traction but prove to be an effective concept in the long term.