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 …