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Some Top-Notch Bitcoin Debit Cards

Bitcoin debit card is a handy way to bridge the gap between the world of bitcoin and traditional financing. The users can buy bitcoin with debit card or load it with bitcoins; which they can later spend at places/stores that accept credit card.

A downside of bitcoin debit card is that the users can’t spend bitcoins directly. However, it does allow them to store balance in bitcoin.

For those asking what are some top-notch Bitcoin cards and how to make Bitcoin transactions through a debit card, this post is the perfect place to be at. Here we have discussed some top-notch debit cards that you can use to make bitcoin transactions. So, let’s get started with knowing how bitcoin debit cards work.

SpectroCoin Visa Debit Card:

A prepaid Bitcoin debit card. SpectroCoin can be used at any ATM across the world. The card is funded instantly so the users don’t have to worry about exchanging bitcoins in advance.

Some highlights of SpectorCoin are:

  • All the franchises that accept Visa/Master card as a form of payment also accept SpectroCoin. This includes physical shops, ATMs, PayPal, online sites, etc.
  • Available in both virtual and physical form. Virtual cards take only a few seconds to create and can be used to spend bitcoins anywhere around the globe. On the other hand, physical ones take up to 1-4 weeks. These cards can also be used to pay with bitcoins throughout the world.
  • SpectroCoin cards can be instantly loaded from SpectroCoin wallets.

Xapo Debit Card:

Xapo was one of the first debit cards introduced to the market. However, it has yet to make an appearance in the US markets and is currently available only in European countries.

The card takes up to 1-4 weeks to be delivered with the initial cost of $20 and an annual fee of $12.

Coinbase / Shift Card:

Shift is the first bitcoin debit card available to the residents of the US. Using shift card costs no money. However, the purchase price of Shift card is $10.

BitPay Visa Debit Card:

The only Bitcoin debit card that is available in all 50 US states. BitPay costs $9.95 to purchase and takes around 10 days to arrive.

BitPay can be used in person, online and ATMs that accept Visa card.

Cryptopay Debit Card:

The most established bitcoin debit card with 23000 cards already issued. The card is pretty simple to use and allows users to spend bitcoins anywhere around the globe.

The card can be purchased both online and offline and is issued in two forms – virtual and physical.

One of the paramount benefits of Cryptopay is that it doesn’t require the users to provide personal information – giving them complete anonymity to make transactions. Bitcoin users dig this!

Costs range between £15.00, €15.00, $15.00 and £2.50, €2.50, $2.50 depending on user’s location.

Conclusion:

These are some most reliable and widely used bitcoin debit cards to make bitcoin transaction(s). All the cards are pretty easy to purchase, cost extremely low and make bitcoin transactions easier than ever. You can also find more information on their official websites.

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Buy Apartments in Turkey Using Bitcoin

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If you’re looking for a new luxury apartment, you might be surprised to know that now you can actually purchase one with bitcoins.

Recently, Dubai had announced an apartment project where Bitcoin owners can purchase these chic apartments.

Well, Turkey isn’t far behind as the owner of the MiaVita Beytepe project in Ankara, Turkey just announced that their very own luxury apartments are available for purchase using the digital currency.

Erdal Daldaban, the project manager firm owner, had enthusiastically said:

“We decided to make sales via Bitcoin, which has recently attracted the attention of Turkish investors with its recent value route, considering that we could also attract the attention of our customers who appreciate their investments like this.”

Why Bitcoin?

Daldaban says this is the reasonable next step:

“Bitcoin and digital money has become an element that can no longer be ignored by the global economy.”

This is mainly because of its current value in the market and the increase in its adoption around the world.

During last week, a home in Austin, Texas was bought using bitcoin news and a house in London was put up for sale on a minimum price of 500 bitcoins.

 

News Credits: steemit.com

Image Credits: fox40

Tags: Bitcoin Turkey, Bitcoin trading

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Facts about Blockchain Funding by Chinese Investment Group

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News about generating blockchain funds by a Chinese company are in the news right now. But before discussing about that news, we must have a watch on the history and importance of blockchain. Designed in 2008, blockchain is the backbone of Bitcoin and all the other cryptocurrencies. Blockchain system works by taking in digital transactions and storing them in pieces of digital information called blocks. These blocks are in turn linked together to form ledgers. In case of blockchain, such ledger can be defined as a list of digital transactions. Each time you wish to change the data inside a blockchain database, the software adds a block to the chain containing all the information required to verify the changes. The block will have a unique identifier (a hash) and can be encrypted depending on the underlying software use-case for it.

blockchain funds

Importance of Blockchain Technology in other industries

Blockchain has also a serious impact on various other industries. Even IBM has started work on their own blockchain projects. The main reason for it is that blockchain has played an important role in maximizing the technology’s capabilities, such as autonomous records and easy to access contracts. Even the Pharmaceutical giants are planning to use blockchain to prevent frauds and secure their transaction records. Now let’s come to the point and elaborate why blockchain funds have become so important for China to show active participation in it.

Why China is interested in Blockchain Funding?

Due to such an important role of blockchain in digital transactions, especially cryptocurrency, it has been reported that a government-led investment firm known as Investment Association of China (IAC) is going to establish a funding center to strengthen the blockchain development in China.

This news leaked out when a document related to that entity was circulated by IAC on the internet. IAC reports directly to China’s National Development and Reform Commission.

Later, vice chairman of the IAC, Liu Ren confirmed the document’s authenticity. He further explained that IAC had to take an initiative in this regard due to the growing importance and popularity of blockchain in cryptomarket. That’s why their association decided to provide fundings and maintained standards for the good of cryptocurrency industry.

However, he did not disclose that whether the funding will be provided from the state or private sectors.

This new blockchain funding center will also seek further working with overseas blockchain projects to generate further investment options. It will also provide consultation services to those persons or firms that are interested in blockchain investment. In short, Chinese government is quite serious in its efforts to develop investment plans for the domestic as well as foreign blockchain industry. Chinese Ministry of Industry and Information Technology recently announced that it will soon launch a committee in order to set national standards for blockchain technology.

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Top 5 Advantages Of Bitcoins That You Didn’t Know

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Bitcoin is a digital currency that first came into circulation in 2009. The identity of the creator is still disclosed.

In recent years, Bitcoin has attracted interest from numerous people of different lines of work, but there is still a large portion of the public that still doesn’t know what is Bitcoin and how does it work. Simply stated, Bitcoin is a peer to peer, decentralized, digital currency system, designed to enable online users to make transactions via the digital currency. In other words, it’s a virtual currency.

Let’s take a look at some of the advantages of using this currency.

What Are The Benefits Of Bitcoins:

  • Its Tax Free:

When a user buys something using euros, pounds, dollars or any other type of flat currency, he is supposed to pay some additional sums in taxes. Every item that is purchased via cash has a certain amount of tax on it.

On the other hand, Bitcoin is tax-free. No sales taxes are involved when you pay with bitcoin in transactions made.

The zero taxation makes Bitcoin an extremely useful form of currency, especially when it comes to buying luxury items.

  • There Are Minimal Transaction Fees:

Exchange costs/fees are part of all sorts of wire transfers. On the other hand, no such costs come with Bitcoin transactions. Since there is no monitoring bank or governing authority to keep the flow of bitcoins in order, the transaction costs are extremely low, or even zero in some cases.

  • Flexible To Pay:

The fact that Bitcoin payment system is online makes it extremely handy for the users to make transactions. All you have to do is tap your smartphone screen a few times or do some clicks on your PC to transfer the coins.

The flexibility in payment methods means you can make the worldwide transaction without even having to leave your bed. Amazing! Isn’t it?

Read our guide to learn more about Bitcoin payments.

  • User Anonymity:

Bitcoin transactions are distinct and give you complete user anonymity. Every purchase made through bitcoins is never connected to you and there is no way for it to be tracked back to you. However, if a user is willing to reveal his identity, he does have the option of to publish his transactions – but in most cases, the users prefer to stay anonymous.

  • Lastly, The Currency Is Free from Third Party Influence:

One of the biggest advantages of using Bitcoin value is that it eliminates third-party influence. There is no central bank or a government authority controlling the flow of bitcoins, which ultimately eliminates the chances of your transaction being disrupted.

Bitcoin transactions are based on peer to peer system and it allows the users more freedom and greater liberty to make a purchase.

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Floyd Mayweather – SEC Charges Legendary Boxer with ICO Fraud

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The U.S. SEC (Securities and Exchange Commission) has filed charges against the Centra Tech ICO (Initial Coin Offering), claiming that the legendary boxer, Floyd Mayweather promoted a token sale, which was allegedly a sham security offering.

According to the SEC complaint, the co-founders of Centra ICO are involved in the ICO fraud and made material misstatements as well as omissions that were intended to trick the investors whereas, the Centra ICO was also an “unregistered securities offering.”

ico fraud

SEC Ceases ICO

According to the Securities and Exchange Commission, Centra only pretended to have relationships with major financial institutions and lied about it. The major financial institutions which sent Centra several cease-and-desist letters are:

  • Visa
  • Bancorp
  • Mastercard

In addition to that, some of the executives showed in Centra’s advertising materials were also fake. The co-director of SEC’s Division of Enforcement, Stephanie Avakian stated:

“We allege that Centra sold investors on the promise of new digital technologies by using a sophisticated marketing campaign to spin a web of lies about their supposed partnerships with legitimate businesses.”

Furthermore, he added:

“As the complaint alleges, these and other claims were simply false.”

The Securities and Exchange Commission originally subpoenaed Centra in the month of February as part of its wide-investigation into ICOs.

Centra ICO Dependence

The Centra ICO is quite well-known because of its use of celebrity endorsements to advertise its product. Floyd Mayweather, who is known as a legendary boxing champion and has made paid-endorsements for numerous ICOs, had worked a lot on the promotion of the token sale on various social media platforms and got more than 5,600 like and 1,500 retweets. DJ Khaled was also hired by Centra for the promotion of the ICOs; however, no celebrity was named in the summons.

Steve Peikin also stated:

“As we allege, the defendants relied heavily on celebrity endorsements and social media to market their scheme…. Endorsements and glossy marketing materials are no substitute for the SEC’s registration and disclosure requirements as well as diligence by investors.”

The SEC has also cautioned that some of these ICO endorsements by celebrities might be illegitimate especially if the parties don’t make any obligatory public disclosures. On the other hand, Mayweather’s tweet promoting the token sale, such as, doesn’t specify that it is a paid advertisement.

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Xcoins Review

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Today we’ll be reviewing Xcoins, which is a new peer-to-peer lending platform that was launched recently.

Xcoins Review

Buying bitcoins is risky business for everyone, especially due to the possibility of a chargeback. However, Xcoin claims to have found a way around this, since they loan you bitcoins instead of selling them to you. Here’s how it works:

Visit the site and select to “loan” some bitcoins. You’ll be asked to verify your ID and requested to deposit the USD equivalent of how much you’d like to borrow + credit card/ PayPal processing fees + a fixed amount that will be acting as the interest rate on the loan.

Fortunately, there is no ongoing interest on the loan since it is just a one-time payment. Usually, these fees go up to more than 20%.

Selling (or lending) Bitcoins on Xcoins

Xcoins even gives the option to lend bitcoins. You can decide how much you wish to loan in USD and deposit that amount in your Xcoins account. The system automatically matches you with suitable buyers and they will deposit money directly to your PayPal account.

Xcoins Review

In this scenario, you are lending .5 BTC. You would make 15% profit and Xcoins would make 10% profit.

Xcoins put the risk of the transaction on the lender that wants to make money from the premium. There is currently a 15% premium on the bitcoin lending as seen above. So as long as you get a fraudulent customer for less than 15% of the time, you’d end up with a profit.

Xcoins claims that they thoroughly screen all the people that want to buy bitcoins, to reduce the amount of fraud. Also, new users can only withdraw a limited amount of bitcoin and the limit only increases after the user develops a good reputation over time.

What are the benefits?

The main benefit for any seller is obviously to earn around 15% interest when selling bitcoin on the platform.

For the buyer, the advantage is that you don’t need to wire money to an exchange. You can get bitcoin instantly through PayPal or credit card by just paying a slightly higher premium.

What are the risks?

Once you turn over your bitcoins to the buyer, they can choose to challenge the PayPal transaction and unfortunate to the seller, PayPal almost always sides with the buyer. So, the buyer would end up with both the money and bitcoins and you’d be left with nothing else than remorse. This is why you get paid a premium.

 

Conclusion – Will I be using Xcoins?

Being a buyer: Xcoins still seems a little unstable to be used for large purchases since it is very new. Although, if the only way you can acquire bitcoins is through PayPal and you’re willing to pay the price, this might be a substitute to VirWox.

Being a seller: No one would want to risk being flagged by PayPal, thus I wouldn’t recommend this to others as well. However, if you want to try it out, go ahead and please share your experience with us right here in the comments section. We’d love to hear all about it!

In case you’re looking for other platforms where you can purchase Bitcoins, be sure to check out Wirex, VirWox, LocalBitcoins, Cryptonit and Paxful.

 

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