A little while ago, we introduced our loyal readers to E-Coin, a company selling Bitcoin debit cards which are available right now for a very modest fee. Earlier today, I received a new email from the E-Coin team regarding the new design of its Bitcoin debit card, which marks the first step towards issuing branded cards.
New Neutral Bitcoin Debit Card Design
Due to banking relations with MyChoice Corporate in Gibraltar — a subsidiary company of Wave Crest Holdings Ltd. — E-Coin can not yet issue branded Bitcoin debit cards. Customers who already own an E-Coin Bitcoin debit card will have received a black card with the MyChoice logo located in the top left corner.
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Xapo, a competitor in the Bitcoin debit card space, also uses MyChoice in Gibraltar to issue its cards to customers. Like E-Coin, Xapo is working towards issuing its own branded debit cards in the future. However, if you are on the Xapo waiting list, you may have to wait a few more months until you receive your card.
Georgy Sokolov told Bitcoinist:
“Convincing traditional financial institutions to start working with Bitcoin is not easy. However, we are successfully overcoming these barriers, and our bitcoin debit card is working perfectly within existing Visa infrastructure.”
Positive Outlook for E-Coin’s Own Design
Bitcoin enthusiasts from around the world are flocking towards E-Coin in order to obtain their very own Bitcoin debit card as soon as possible. Considering the card only costs $10 USD and is available to customers in over 160 countries [except the United States], this recent success may play a role in regards to the timeframe in which E-Coin will be able to issue its branded debit card.
“Obtaining permission to use our design of the card openly advertising bitcoin is another difficult task, and we are happy to have moved closer to solving it. The new design is still generic, but it is neutral, which is a step forward. The next stage will be our own bright and “bitcoin” design which is currently advertised on the home page ( www.e-coin.io), so watch the space.” — Georgy Sokolov.
One of the main advantages of using a Bitcoin debit card is the fact that these cards are not linked to a bank account in your name. However, each card is individually linked to the user’s Bitcoin cloud account on the E-Coin website. Funding your E-Coin debit card is subject to a 2% fee, which makes you card usable at over 30 million ATM’s and 25 million merchants around the world.