SpectroCoin, a bitcoin exchange and wallet based in the UK, has released bitcoin debit cards denominated in USD and GBP, in addition to its existing EUR denominated cards. Using these cards, users will be able to avoid the fiat conversion fees needed with regular debit cards when using a specific denomination in a foreign country, Cryptocoinsnews reported.
“SpectroCoin offers Bitcoin prepaid cards, which can be used at any ATM around the globe or shops as an ordinary payment card. The card is funded instantly, so you do not have to worry to think about exchanging your bitcoins in advance. The card can be denominated in dollars (USD), euros (EUR) or pounds (GBP)”, the website reads.
The company says that the card is accepted anywhere where VISA or MasterCard is accepted and can be funded easily via SpectroCoin Bitcoin Wallet.
In order to get a card, a user needs to go to the deposit section on their SpectroCoin account, where they will see deposit options. Users can select the currency according to their preference. They need to enter the amount of money they want to receive and select MasterCard or Visa as the deposit option.
Moreover, the user will be asked to enter personal details, including mobile phone number, email and billing address, and they confirm the details and click “pay.” Once this process completes, the card account is funded and ready to use.
The price for the physical card is $9.00/€8.00/£6.00, while the price of the virtual card is 0.5 in USD, GBP and EUR. The fee for expedited shipping is $75/€69/£50.
A 3% currency exchange fee is charged if a user pays in a currency other than the default currency (USD/EUR/GBP).
