E-Coin is a Bitcoin debit card that's been developed to bridge the gap between cryptocurrency and fiat money. Quite early on in a crowdfunding campaign, more than $63,000 has been raised online in support of the card.
The virtual debit card is intended to work in the same way as a physical card, permitting its user to load funds, withdraw money and most of all, make purchases online anywhere major credit cards are accepted. In addition to this, E-Coin makes it possible for users to spend Bitcoins on websites that do not accept them as payment, and it can also be used through third-party services like Apple Pay and PayPal.
Like credit and debit cards, the E-Coin does limit withdrawal and spending amounts, but these can be increased when a user provides documents for verification. As it stands, there are about 10,000 Bitcoin debit cards already in use.
Cryptocurrency Payment Cards
The E-Coin Bitcoin Debit Card Accepts Payments Like a Credit Card
Trend Themes
1. Cryptocurrency Payment Cards - The E-Coin Bitcoin debit card is bridging the gap between cryptocurrency and fiat money, paving the way for wider acceptance of digital currencies in traditional payment systems.
2. Virtual Debit Cards - The development of virtual debit cards like E-Coin presents an opportunity to make online purchases using cryptocurrency in a similar way to traditional credit cards.
3. Increased Adoption of Bitcoin - The growing popularity of Bitcoin debit cards indicates a trend towards wider acceptance and integration of cryptocurrencies into mainstream financial systems.
Industry Implications
1. Financial Technology (fintech) - The integration of cryptocurrency payment cards into existing financial systems presents disruptive innovation opportunities for FinTech companies to create new payment solutions.
2. E-commerce - The acceptance of Bitcoin debit cards by e-commerce platforms opens up disruptive innovation opportunities for online retailers to tap into the growing market of cryptocurrency users.
3. Payment Services - The compatibility of E-Coin with third-party services like Apple Pay and PayPal suggests disruptive innovation opportunities for payment service providers to expand their offerings into the realm of digital currencies.