The E-Coin Bitcoin Debit Card Accepts Payments Like a Credit Card
Laura McQuarrie — November 6, 2015 — Tech
References: bnktothefuture & cryptocoinsnews
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.
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.
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.
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