Bitcoin Debit Card!!!

[_smudger_]

Nice!     

[Suspicious link removed]j.com/digits/2014/04/24/first-bitcoin-vaults-now-xapo-debuts-debit-cards/

Xapo, the maker of underground bitcoin vaults, debuted a debit card on Thursday, marking its latest bid to woo more customers to the virtual currency.

The company — which currently offers two main services, a vault for people to store their bitcoins and a wallet to facilitate transactions — says the Xapo debit card will function like a normal debit card, except one backed by bitcoins instead of traditional currency. The card will be linked to the customer’s Xapo Wallet and will function anywhere traditional debit cards or credit cards are used, off or online. The digital version of the card is free, but a physical card will cost $15.

“We are focused on making bitcoin more secure and safer and making it easier to use, the debit card is something that our customers have requested,” said Wences Casares, the founder and CEO of Xapo.

Xapo, which recently raised $20 million, is part of a growing group of startups that is trying to build infrastructure to make bitcoin more palatable to consumers. The virtual currency’s short history has been somewhat volatile, shaken by reports of hackers stealing bitcoins. Mt. Gox, the Tokyo-based bitcoin exchange folded in February, after losing hundreds of millions of dollars after hackers took advantage of vulnerabilities in bitcoin software.

Mr. Casares believes that it is possible to create a system where average consumers feel comfortable and secure about holding and using bitcoins. To that end, Xapo owns a network of underground vaults to store users’ bitcoin information. The company charges an annual fee to store deposits but all deposits are fully insured. The wallet and debit card service are free, except for the $15 charge to get a physical copy of the debit card.

[underhood]

Check sifro.co With us you can actually make money

[gagalady]

Bitcoin debit card is really cool feature, but as far as I heard companies charge a huge fee for withdrawing bitcoin with that debit card. What is the most trusted and cheapest BTC debit card companies to use?

[underhood]

Our card will work in a way that you are in control of money (private key for spending is only on card). Fees are non-existent if you have bitcoins (if you have only EUR USD in account then exchange fee is applied)

[gagalady]

Our card will work in a way that you are in control of money (private key for spending is only on card). Fees are non-existent if you have bitcoins (if you have only EUR USD in account then exchange fee is applied)

No fees? that sounds great. I must check your website, could you tell what your card can do and all  advantages of it? thanks.

[underhood]

We are now in search of some investment to build infrastructure... We are opening an exchange based on real world company in Slovak Republic (EU). Every user will receive card. Exchange fees are used to fund our company (pay for expenses) all income from fees that is left is distributed between users as interest on deposits.

Card has 2 modes one is cold storage wallet (key is only yours and we don't have access to it). Second one is sifro payment card which is linked to your sifro account. We ensure immediate confirmation of transaction and limits (daily, monthly and so on).

Card is dual interface allowing for payments in contact and contactless way (NFC like when you have NFC enabled visa/mastercard). Also you are able to receive payments. We also offer support for merchants and our platform allows for very easy integration into the eshops/ATMs and POS.

Any questions are welcome-

[underhood]

As for the status... We are running exchange platform on testing mode (with test bitcoin network to verify everything). We have prototype cards.

We are working now on ensuring everything is smooth and secure... which I have to admit is taking longer than i expected but please bear with us. We are paying attention to security and have some security measures which have not been implemented anywhere else... this takes us longer time to implement but we don't want sacrifice security. Our goal is security is #1 and development costs and time costs are secondary.

In long term future we are also planning credit cards for customers in Europe

[gagalady]

As for the status... We are running exchange platform on testing mode (with test bitcoin network to verify everything). We have prototype cards.

We are working now on ensuring everything is smooth and secure... which I have to admit is taking longer than i expected but please bear with us. We are paying attention to security and have some security measures which have not been implemented anywhere else... this takes us longer time to implement but we don't want sacrifice security. Our goal is security is #1 and development costs and time costs are secondary.

In long term future we are also planning credit cards for customers in Europe

Alright, as i understand you are brand new company, take your time and make announcements here, I'll get back to you and check It.

[underhood]

Not brand new

[yayayo]

Without question this is useful. However it would be better if bitcoin is used directly.

What we need are affordable and easy-to-use bitcoin payment stations for business. Some bitcoin card device would also come in handy.

ya.ya.yo!

[bitbudget]

What we need are affordable and easy-to-use bitcoin payment stations for business

Are you talking about a smartphone or a tablet with a QR code from Bitpay? What can be simpler?

[keelba]

This confuses me. This seems to take away one of the single most important elements of Bitcoin: DECENTRALIZATION.

This is basically going back to traditional banking services and taking ownership and control of my money from me.

The idea that "our customers are requesting this" just means that your customers are not quite there yet and need to get a better understanding of Bitcoin.

Imagine if a company in the early 2000s started selling a software program that makes beeps and blips on your computer to make it sound like a dial up modem, even though you are now direct connected with high speed Internet, because this is what the customers are requesting.

[BurtW]

This confuses me. This seems to take away one of the single most important elements of Bitcoin: DECENTRALIZATION.

This is basically going back to traditional banking services and taking ownership and control of my money from me.

The idea that "our customers are requesting this" just means that your customers are not quite there yet and need to get a better understanding of Bitcoin.

Imagine if a company in the early 2000s started selling a software program that makes beeps and blips on your computer to make it sound like a dial up modem, even though you are now direct connected with high speed Internet, because this is what the customers are requesting.

Great analogy!  What people need to learn is that if you have the private key(s) it is a wallet.  If someone else has the private key(s) it is an account and you have loaned your BTC to the person or entity which does have the private key(s). 

"Neither a borrower nor a lender be;" (from Hamlet)

Only lend your BTC to people or entities you totally trust or you will get goxxed.

[Guido]

yup, saw earlier
loving it

proper link: http://www.coindesk.com/xapo-launches-bitcoin-debit-card-accepted-at-all-mastercard-locations/

[moriartybitcoin]

This card is total garbage. They will request ID/verification, report your funds to the IRS and FinCEN, block certain countries, and it might not even work.  Where is their card right now?  Not available. You have to sign up to 'pre-order'. 

If you want the only REAL and WORKING Bitcoin Debit Card in existence, use https://BitPlastic.com

ALL COUNTRIES OK, no Identity verifications, and IT WORKS ...

[yayayo]

What we need are affordable and easy-to-use bitcoin payment stations for business

Are you talking about a smartphone or a tablet with a QR code from Bitpay? What can be simpler?

That is still too complicated in many situations where staff has a lot of other things to do (imagine a crowded bar). An ideal solution would be a bitcoincard that can be loaded with real bitcoins and then be scanned by the payment terminal (the owner needs to confirm via passphrase).

ya.ya.yo!

[wuzamarine]

Check out this anonymous debit card.   https://bitplastic.com/
They will even wash your Bitcoin for you   

[danstanit]

Check out this anonymous debit card.   https://bitplastic.com/
They will even wash your Bitcoin for you   

That website seems pretty cool, thanks for sharing. Is this yours?

[keithers]

Eventually this will work like a normal debit card, with everything happening in the background...just like most people don't really know how their current debit card works...it just does.

[yayayo]

Eventually this will work like a normal debit card, with everything happening in the background...just like most people don't really know how their current debit card works...it just does.

Yeah that would be ideal.

People here can't assume that the general population is as tech-savvy as the bitcoin community. Mass-adoption will happen only when using bitcoin doesn't require thinking about the process or knowing about the technical background.

Even if people have to install some app will hinder adoption. The best solution is a tangible hardware item which is instantly usable.

ya.ya.yo!