Bitcoin has finally come into the prepaid debit card market. In the UK that is.
The Bitcoin Company, who is offering the card, has stated through a representative that the card funcations, ”…as a normal prepaid credit card. The difference is users can buy it with bitcoins, and fund it with bitcoins.”
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The card will work with Bitcoins and also be able to be loaded with pound or Euros. The card is able to be used anywhere Visa and MasterCard are accepted, as if it were a non-Bitcoin debit card. The card can be loaded online, through SMS, and in select retails stores.
The card will come with a initial fee of 0.787139 BTC which as of today at 1230 UTC according to Mt.Gox, the primary exchange site for Bitcoins, converts to 53.04 GBP or 81.86 USD. Based on its company website, “The Bitcoin Company” was founded three months ago “when Bitcoin was rising”. However, it does say that the leadership of the company have been involved with currencies and processing for years.