Mastercard Bitcoin Debit Card Now Available

By May 20, 2015Bitcoin Business
Click here to view original web page at www.newsbtc.com
Mastercard Bitcoin Debit Card Now Available

Story Highlights

  • Danish exchange CCEDK launched the new Bitcoin Debit NanoCard MasterCard
  • This bitcoin debit card is in compliance with EU financial industry regulation and is covered under fraud protection policies

A cryptocurrency exchange in Europe announced the launch of a Mastercard bitcoin debit card, which is in compliance with the region’s financial regulators. Danish exchange CCEDK said that the Bitcoin Debit NanoCard MasterCard will enable withdrawals from their multi cryptocurrency exchange to ATMs and MasterCard-enabled merchants worldwide.

Other bitcoin debit cards have already been available in the past but CCEDK says that this particular one is different from the rest since it “is regulated by The European Union (EU) MasterCard rules” and is covered by fraud protection programs.

Bitcoin Debit Card Features

Critics have noted that this bitcoin debit card doesn’t guarantee anonymity or privacy protection unlike competitors such as BitPlastic. However, the fraud protection feature might be its selling point, as any financial movements of CCEDK’s customers are strictly regulated under European anti-money laudering (AML), know-your-customer (KYC) and counter-terrorist financing (CTF) guidelines.

Apart from that, users can tap into MasterCard features such as unlimited withdrawal limits, depending on the verification with CCEDK and its banking partners. Aside from that, the exchange also has some plans to add more cryptocurrencies to the mix.

“At first, the Bitcoin Debit NanoCard MasterCard will only support bitcoin, but CCEDK plans to implement further cryptocurrencies as there is demand – including NuBits, BitUSD, NXT and LTC. In the meantime, other coins can of course be exchanged for bitcoin on the exchange, to be used to fund the NanoCard,” said a CCEDK spokesperson in a written statement.

The MasterCard bitcoin debit card is set to start shipping by mid-June. For point-of-sale purchases, Level 1 users can spend 250 euros per year and other fees apply for services like having your name embossed on the card, card activation, card delivery via email, card delivery via airmail, cash withdrawal at ATM, and POS transactions.

Danish exchange CCEDK launched the new Bitcoin Debit NanoCard MasterCard

This bitcoin debit card is in compliance with EU financial industry regulation and is covered under fraud protection policies A cryptocurrency exchange in Europe announced the launch of a Mastercard bitcoin debit card, which is in compliance with the region’s financial regulators. Danish exchange CCEDK said that the Bitcoin Debit NanoCard MasterCard will enable withdrawals from their multi cryptocurrency exchange to ATMs […]

Leave a Reply

All Today's Crypto News In One Place