BIT-X has launched the first true Crypto debit card that will be issued and processed through its partner MasterCard.
The Bitcoin Debit MasterCard can be used to shop online, pay for goods and services, and withdraw cash at ATMs worldwide in the form of BTC, LTC, USD, EUR or GBP.
The card will be accepted anywhere MasterCard is accepted at ATMs, online or at POS (Point of Sale) locations and shipped throughout in the world.
The card, which is denominated in either USD or EUR, does not require any identity verification except for higher card limits, which need user side verification.
With the Bitcoin Debit MasterCard, customers need not manually fund cards for each use as funds are situated directly in a user’s BIT-X wallet.
Bitcoins are exchanged only after using the card meaning that funds will not be exchanged before hand, not after but at the time of the transaction, at the current market exchange rate.
BIT-X public relations head Marco told Coinbuzz: "Funds are converted on the spot, straight out of their Bit-X Bitcoin wallets. Bitcoin can now be spent everywhere without worrying about price volatility! Members of the community wanted the ability to spend their Bitcoins worldwide so we gave them the Bit-X Crypto MasterCard."