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.
For those who do not know, Xapo is a company that offers online bitcoin wallets. An article on Wired said that Xapo is about to expand its reach by introducing the first debit card that would allow users to spend their bitcoins like actual currency. It is important to keep in mind, though, that this feature is only limited to locations that except MasterCard and Visa. If you did not believe that the age of digital money was upon us before, it is likely that you will see it that way now.
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.
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.
For those who do not know, Xapo is a company that offers online bitcoin wallets. An article on Wired said that Xapo is about to expand its reach by introducing the first debit card that would allow users to spend their bitcoins like actual currency. It is important to keep in mind, though, that this feature is only limited to locations that except MasterCard and Visa. If you did not believe that the age of digital money was upon us before, it is likely that you will see it that way now.
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.
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.
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