Bitstamp Launches Debit Card Offering with AstroPay

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange Bitstamp has announced its launch of a prepaid debit card offering, which will be denominated in USD, GBP or EUR.

Bitstamp ranks among the top crypto exchanges in USD volume, and typically among the top eight in overall volume. It joins Hong Kong-based ANX as an exchange also offering debit cards.

In its announcement, Bitstamp did not mention any function of Bitcoin on the card, which is being issued in cooperation with AstroPay, a virtual prepaid card provider.

Users who order the virtual card, which can be used for online shopping, have the option to add a plastic card to their account.

For limits up to $3,000, no additional Know Your Customer (KYC) Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Read this Term) information is needed. Above $3,000, but below $75,000, basic due diligence (BDD) is required in the form of ID and proof of address. Above this amount, enhanced due diligence (EDD) requires BDD procedures plus a certified document showing source of funds. The card's maximum limit is $125,000.

Cards of accounts that have completed BDD or EDD requirements can be used in ATMs.

Funds can be moved from a Bitstamp trading account to the card, and are charged $10 for amounts up to $1,000, and 2% if higher.

The cards are not available for US citizens.

The plastic card costs $10, the fee waived for the first 100 users.