Bitcoin is considered to be the best companion of the tourists. Thanks to the universal nature of the digital currency, it can be used anywhere in the world, provided the merchant accepts it. But now we have bitcoin-powered debit cards. These cards are like normal debit cards issued by banks except that it is connected to a bitcoin wallet.
Most of these bitcoin-powered debit cards are connected issued by authorized issuers of well-known electronic payment providers like Visa and MasterCard . These cards will work at any point of sale terminals that are part of the network. This way, people can continue to pay with bitcoin without having to worry about whether the merchants accept bitcoin or not.
These Bitcoin debit cards also have an advantage over regular cards. Use of a regular card is usually governed by the card issuing bank. So, banks will have the ability to block these cards whenever they want. In addition, travelers may have to inform their bank about their travel plans if they intend to use the card overseas. Otherwise, the bank may block the card when used in a new country for the first time. Bitcoin Debit Cards and Bank Issued Cards
Banks have various anti-fraud measures to prevent unauthorized usage of the debit card and these security measures are generally responsible for preventing the card payments and ATM cash withdrawals abroad. In many instances, banks are slow to react to customer requests with regard to international usage, leaving the customer helpless in a foreign country.
Unlike bank issued cards, where the user has limited control over his/her account, bitcoin-powered cards offer more freedom to the customers as users can control the funds associated with these cards and its usage. Most Bitcoin debit cards have a dedicated wallet with a maximum limit to which […]
