E-Coins Launches A Bitcoin Debit Card - Essay Example

In order to bridge the gap between traditional finance and crypto currency, E- coin has recently launched a multi- sig bitcoin wallet and debit card.

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These products will allow the bitcoin users to load bitcoin onto debit cards which can be used at any POS terminal that accepts VISA cards – in USD, EUR, and GBP.

The company stated, “Inspired by blockchain decentralized technology, the company dedicates a great part of its efforts in growing the popularity and usability of crypto currency while trying to make transactions simple, safe, and hassle- free.”

E-coin has currently shipped around 1.8K cards to more than 130 countries, having more than 20k registered users.

As E-coin debit card works like a VISA card, support for it has already been built in, with more than 30 million ATMs and 25 million merchants accepting VISA worldwide.

The company further stated, “For a currency to gain adoption it needs to circulate. Although already quite popular, bitcoin is still not very easy to get and spend for an average Joe.

Our bitcoin debit card does not solve the whole problem, but it does solve half of it – it makes spending bitcoin as easy as spending dollars or euros, or any other traditional currency.

This is one step towards wider adoption of the crypto currency.”

E-coin has also launched an affiliate program which is an easier alternative to API. The existing customers will be able to refer their friend, clients or followers and earn bitcoins.

The users will also receive a 25 per cent discount on the price of the card if they register through referral links.

Unlike Xapo that has launched its bitcoin -based debit card in 2014, E-coin have successfully passed the beta stage as the customers are able to order debit cards with no limitations, waiting lists, pre- orders etc.

The program is structured in such a way where the affiliates will be able to earn 10 per cent of gross fees on their referrals in the first years and 5 per cent on every year after that.

The company concluded, “We offer instant loading, good exchange rate, multi- signature protection of users’ wallet and quick and responsive customer service.

Based on what we hear from clients, forums, etc. that is the combination of these factors makes our service stand out.”

Until now, the program is running quite well and number of signups is higher than in general.