Bringing Bitcoin to as many everyday consumers as humanly possible is what every virtual currency-related company has set out to do. Some companies will have an easier task in this regard, as they provide a tangible item that consumers can get acquainted with. E-Coin, a Bitcoin debit card provider, recently launched their virtual card service for customers from all over the world.
Bitcoin start-up E-Coin has launched a virtual bitcoin debit card that works where VISA is accepted. The virtual bitcoin debit card has until now existed in the realm of possibilities largely due to the idiosyncrasies of the global financial system.
Many of you may be familiar with services offered by payment processors such as Neteller in which you can create a virtual credit card and use said card for online purchases, anything that would not involve presenting the card in-person. Well, E-Coin is bringing the same feature into its bitcoin debit card service. If you want a bitcoin debit card to use solely for online purchases or Paypal, this is the way to go. You skip the necessity of waiting for your card to arrive and can start using it immediately. E-Coin uses BitGo multi-sig for security.
Bitcoin is on a slow march to become a more globally used virtual currency and the latest area of the globe where an impact is being made is Morocco. According to an E-Coin representative, 15% of the website traffic for this Bitcoin debit card provider is coming from Morocco and quite a few people are signing up for their debit card service.
The team at E-Coin has made it clear that this virtual bitcoin debit card will, at some point, work with ApplePay as well. If ApplePay is a term you have not heard before, its a type of payment processor in which you store debit or credit cards onto an application on your phone and use your phone as an access point to using all of your credit/debit cards. The idea of a virual bitcoin debit card used to sound preposterous a couple years ago, and now, we have virtual bitcoin debit cards. The cards will be VISA meaning that most stores will accept it.
E-Coin wants to make managing your personal finances easier with their debit card that allows you to pay for goods and services instantly by converting bitcoin into U.S. dollars, euros or British pounds.