The E-coin debit cards work like their traditional counterparts; simply load funds into an account that can be managed on the web and the E-coin mobile app. To date, 17,000 Bitcoin debit cards have been shipped and are readily available to order and use. E-coin ships to 150+ countries, and the cards can be used in any country. Since the E-coin debit card works like a VISA card, support for it has already been built in, with over 30 million ATMs and 25 million merchants accepting VISA worldwide.
CoinTelegraph spoke with E-coin founders Pavel Matveev and Dmitry Lazarichev about competition in the bitcoin debit card market, the importance of multi-sig security, and crowd investment with BnkToTheFuture. Since launching their first Bitcoin debit cards to the public in late January 2015, e-coin has been working to build out its platform and push Bitcoin adoption mainstream. In an effort to offer users a convenient way to spend bitcoin wherever Visa is accepted, the company is looking to strengthen its position as a major player in the cryptocurrency debit card market
E-coin is looking to position itself as the most useful and comfortable tool for spending bitcoin anywhere in the world with the rollout of their cypto debit cards. The startup introduced an innovative way for Bitcoin enthusiasts to easily and securely convert crypto into fiat currency and spend funds through the global Visa infrastructure.
E-Coin is somewhat new to the Bitcoin business, having been established in 2014 by a team of Russian natives. In that short time, they have managed to launch a very competitive Bitcoin debit card that is ideal for casual Bitcoin users, and are now trying to spread the word via an affiliate program.
Bitcoin and other virtual currencies are still relatively new in the world of finance and technology. Due to the disruptive aspect of these new payment methods, institutions, governments, and individuals are rather wary of embracing the new forms of money. One way to win over some souls is by uniting existing payment technology with virtual currencies, even though it is not the perfect solution.
With multiple Bitcoin debit cards in existence today, companies have a hard time distinguishing themselves from one another. E-Coin, one of the lesser known Bitcoin debit card providers, recently introduced cards for EUR, USD, and GBP denominations. Doing so removes any conversation rate fees associated with their previous cards, and makes it easier to spend Bitcoin.