8 Major Bitcoin Debit Cards: How Private and Anonymous Are They?

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CoinTelegraph contacted the eight major providers of Bitcoin debit cards with the question: Can Bitcoin debit cards really be private or anonymous? Below are the results, categorized by region and level of disclosure required. Financial privacy: Bitcoin vs. banks One of the main advantages of using Bitcoin over traditional funding methods is privacy. When a Bitcoin transaction is sent, its record is permanent and public on the blockchain, but not tied to any particular identity. Many users, such as those who frequented the Silk Road, prefer Bitcoin for exactly this reason: it’s anonymous and private. However, one of the major challenges of using Bitcoin is the limited number of merchants and services that accept it as payment. Enter Bitcoin debit cards, a product that takes Bitcoin and converts it into currency for use at traditional merchants. The challenge with Bitcoin debit cards is that, by and large, they tend to require the same level of financial disclosure of traditional financial institutions. While this is still an advantage over banks, which can shut down the account of a customer at any time under any pretense (especially under pressure from government), it still does not constitute financial privacy. Full identification (US) Coinbase Coinbase has …

E-Coin Launches Bitcoin Debit Card Affiliate Program

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E-coin specializes in bridging the gap between the traditional financial institutions and Bitcoin by allowing Bitcoin users to store Bitcoin safely with its multi-sig wallet service, as well as allowing users to load Bitcoin onto debit cards that can be used at any POS terminal that accepts VISA cards — in USD, EUR, and GBP.   “Inspired by blockchain decentralized technology, the company dedicates a great part of its efforts in growing the popularity and usability of cryptocurrency while trying to make transactions simple, safe, and hassle-free.” The E-coin debit cards work like their traditional counterparts; simply load funds into an account that can be managed on the web and the E-coin mobile app. To date, 1,800 Bitcoin debit cards have been shipped and are readily available to order and use. E-coin ships to 173 countries, and the cards can be used in any country. Since the E-coin debit card works like a VISA card, support for it has already been built in, with over 30 million ATMs and 25 million merchants accepting VISA worldwide. “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 …

A Quick Review Of BTCLend A Peer-To-Peer Bitcoin Lending Network

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Don’t get caught in a jam While I have never been a big believer in loans in my life, crypto currency technologies have greatly changed my view on that subject this year when a new upstart launched in San Pedro California on January 17th  2015. BTCLend has a very solid platform with a familiar and simple to follow GUI that many crypto users may be familiar with if you have used BTCJam. After that, all the similarities drop off fast. BTCLend is banking on features that have already proven successful for others while at the same time developing potential features that many have asked for in the crypto currency lending space.   You Can Sign up Here Now and Create your BTCLend Wallet!   Signing up with BTCLend is straightforward, it is very much like opening a bank account and you will need to become verified at higher levels to gain a higher credit worthiness rating. After two months of operations BTCLend Currently has 71 open loan listings with a total of  ฿ 60.59855 in total funded loans to date. While BTCLend has been successful at creating an alternative to BTCJam for the crypto world. They have also learned from …

COIN.MX REVIEW – IS IT A TRUSTWORTHY BITCOIN EXCHANGE ?

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CoinMX is one of the leading Bitcoin exchanges allowing you to purchase Bitcoins with a credit card today. I’ve heard a lot about it and decided to finally try it for myself. This review will describe my personal experience with the exchange as well as different opinions of other CoinMX customers I’ve managed to gather from the web. CoinMX is an American based Bitcoin exchange based in Dallas Texas. It was established in early 2013 and has been accepting customers worldwide since. The first thing I’ve noticed is that other than a physical location there are no individuals shown on the website who actually run the site. This always sets off an alarm for me as many of the scams I’ve encountered have this characteristic. However, I’m not going to eliminate an exchange based on that alone.   Verification is a bitch, but things go smoothly after.. Once you create an account on CoinMX you’ll need to verify your identity. Unlike other exchanges CoinMX asks you to shoot a video of yourself holding a government issued ID (e.g. passport). This was a pretty awkward moment in my life as I’ve never been requested to shoot a video for verification but I complied. …