Bit-x is a licensed UK based cryptocurrency trading platform that aims to revolutionize the entire Bitcoin ecosystem with its Bitcoin debit cards. The company claims that the BIT-X Debit Card is a revolutionary debit card with real-time currency conversions where a user can use it everywhere, to shop online, pay for goods & services, withdraw cash at ATMs worldwide using any of their cryptocurrency balance.
In the announcement, Bit-x said:
If you’re already a proud BIT-X Debit Card owner, please register an account on BIT-X and add your card number on your Balance page. Verification is not obligatory, however your limits will be lower than for verified and partner bank approved users’ cards. To raise your limits please click “Raise Limits” on your Balance page.
The Debit Cards Can be Used Anywhere Debit Cards Are Accepted
The company informs that the Bit-x Cards issued by it can be used anywhere debit cards are accepted. Also, the users can withdraw money from ATMs worldwide, direct from their Bit-x account containing BTC, LTC, USD, EUR and GBP. The card can also be used for online shopping and at point of sale (POS) terminals worldwide.
At the occasion the company says that it is offering free trading with no fees until September on its trading platform. Nonetheless, debit cards are designated in either USD or EUR, and can be ordered from any country in the world. Interestingly, no verification is necessary to begin using the card; however, basic verification comes with added benefits.
Verified or Not Verified, All Users are being allowed to Use the Debit Card
For instance, the verified users will be allowed to deposit sums that exceed 300 USD of BTC, LTC, USD, EUR and GBP. Thus, the company has put premium for those who go one step ahead and verify themselves; however, the users who are not verified are not being stopped from using the services. The company is trying to attract every user whether verified or not.
Interestingly, the company also claims that with Bit-x’s debit card users do not have to manually fund cards for each use i.e. funds are pulled direct from users’ Bit-x wallet. Nevertheless, when the users are paying online, in ATMs, or in shops, Bitcoins are exchanged.
Thus, funds are exchanged in real-time as the transaction is executed at the current market exchange rate. The entire process eliminates Bitcoin price volatility issues which could be a major bone of contention for many users.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org