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Bitcoin Upgraded To ‘B’ By Weiss Ratings

Weiss Ratings revealed yesterday that it has upgraded Bitcoin from a ‘B-‘ to a ‘B’. However, it still recommends holding out for a price correction before buying.


Highest Rated Bitcoin Just Gets Better

The, perhaps most respected, independent ratings agency, Weiss rates cryptocurrencies based on four factors, technology, adoption, risk, and reward. These are often split to give two ratings, one for tech/adoption, and one for risk/reward. A combined average of these is used to work out an overall rating.

Bitcoin’s tech/adoption score has been rated a solid ‘A’ for some time now, largely thanks to improvements such as Lightning network. The risk factor has always dragged it, and all cryptocurrency, down.

However, recent price gains have improved the reward, bumping risk/reward up to a ‘C-‘, and giving Bitcoin an overall rating of ‘B’

Top Of The Heap, But Not A Buy… Yet

So Bitcoin rules the roost, according to Weiss. After ten years at the top, the grand-daddy of all cryptocurrencies still sets the standard by which others are measured.

But despite the upgraded rating, vastly improved adoption, and significant technological evolution, Weiss doesn’t recommend buying bitcoin at the moment.

The reason? Bitcoin’s success is its downfall; those recent price gains have led Weiss to anticipate a “substantial price correction.” After which, we are recommended to “buy with funds we can afford to risk”

That’s a far more conservative message than the ‘best buying opportunity since 2015’ that it heralded last month. But Weiss still says that we are enjoying the first phase of a new bull market, and that risk/reward rating will continue to improve as a sustainable bull market unfolds.

Some People Are Never Happy

So, Weiss tweeted a positive development for Bitcoin. Surely nobody can be upset or offended by that? Anyone? Anyone? Bueller?

Well, there was one section of the crypto community which had something to say about the matter. Can anyone guess who it might have been?

Yep, the Ripple army seems to have taken Weiss’s tweet as a personal affront. Three out of the five comments on the post mention XRP, seemingly because Weiss had omitted to mention it in the actual tweet.

How very dare Weiss not mention XRP in a tweet about Bitcoin. I mean, it’s not like Weiss is also very positive about XRP or anything. Or like Ripple is also graded a ‘B’, along with Ethereum.

Oh no. I mentioned Ethereum in a sentence about Ripple. Well that’ll be the floodgates open then…

What do you think about Weiss’ ‘B’ rating for Bitcoin? Share your thoughts below!


Images via Shutterstock

The post Bitcoin Upgraded To ‘B’ By Weiss Ratings appeared first on Bitcoinist.com.

Source: Bitcoininst

Visa, Paypal Say They’ll Pay $10 Million to Run ‘Facebook Coin’ – Report

Big companies like Visa and PayPal are reportedly willing to pay millions for the privilege of running a node on the Facebook cryptocurrency network.


Facebook’s foray into crypto has been met with mixed reaction. Some are hailing it as the next step in a global financial revolution, while others have expressed concerns over the company’s shady past record when it comes to security, privacy and data abuses.

Nevertheless, U.S. tech and finance giants clearly want a slice of the Facebook crypto pie. According to the Wall Street Journal, a number of financial and e-commerce companies, venture capitalists and telecommunications corporations have already pledged to back the new project.

Big Names Want In On ‘GlobalCoin’

The report added that over a dozen firms, which include Mastercard Inc, Visa Inc, PayPal Holdings Inc, Stripe Inc, Booking.com, and Uber Technologies Inc, have formed a consortium and agreed to pledge $10 million each to secure governance over the new crypto coin.

It was reported last month that the social media giant was recruiting backers and aimed to raise $1 billion for the crypto project.

Fearing Bitcoin, VISA and Mastercard Reclassify Crypto Purchases as 'Cash Advances'

The currency dubbed ‘Libra’ or ‘Global Coin’ is expected to be officially announced next week. The stablecoin will be pegged to a basket of government-issued currencies — similar to the IMF’s SDR (special drawing rights) basket of fiat currencies — to avoid the volatility of cryptocurrencies.

The report was not very complimentary of bitcoin stating,

It has been a decade since bitcoin was born, yet consumers hardly use it—or the hundreds of other cryptocurrencies—to pay for things. Facebook is betting it can change that with a crypto-based payments system built around its giant social network and its billions of users.

The usual regulatory concerns have been raised as governments get anxious about the potential for money laundering. According to the WSJ, Facebook won’t exactly control the new coin, neither will the individual members of the consortium, which is known as the Libra Association.

Citing people familiar with the situation, it added that some could serve as nodes for blockchain transaction validation.

Facebook is still the direct developer of the greatly guarded technology so its influence over the coin is likely to be as strong as it has over the data on the social media platform. Just like Google, Facebook has a highly secretive algorithm that determines what users can and cannot see in its news feed.

‘Facebook Coin’ Will Boost Bitcoin

Co-founder and partner at Morgan Creek Digital Anthony ‘Pomp’ Pompliano said that the move was especially bullish for Bitcoin adoption considering two of the backers are Visa and Mastercard.

Participating in the Libra project allows companies like PayPal, Visa, and Mastercard to exert some level of control over the new ‘cryptocurrency’ and its centralized governance. This makes the new coin unlike Bitcoin that’s an open-access cryptocurrency allowing anyone to download the software and run a node.

Therefore, ‘Facebook Coin’ is unlike to pose any real threat to the future of decentralized peer-to-peer finance. Instead, it already looks to be more like a competitor to banks or even Starbucks Rewards than P2P ‘digital gold.’

Will Facebook crypto be a threat to bitcoin? Add your thoughts below.


Images via Shutterstock

The post Visa, Paypal Say They’ll Pay $10 Million to Run ‘Facebook Coin’ – Report appeared first on Bitcoinist.com.

Source: Bitcoininst

The Current Bitcoin Retracement is Over, Says Fundstrat

Fundstrat’s Robert Sluymer believes that bitcoin and many altcoins will soon experience significant price gains going on the back of positive signals from technical indicators.


Bitcoin Set to Test $9k Again

According to Bloomberg, the Fundstrat technical strategist expects an end to the price retracement that has been going on since the end of May 2019. In a note to investors quoted by Bloomberg, Sluymer wrote:

Another upside attempt appears to be developing for most cryptocurrencies. Increase exposure. We expect Bitcoin to stage another rally from current levels toward next resistance between $8,800-$9,000.

Sluymer’s forecast comes from a reversal in the bitcoin relative strength index (RSI). The Fundstrat analyst says momentum has shifted from negative/neutral, towards a more positive trajectory.

Bitcoin Set for Another Run at $9k

Bitcoin price 00 gained more than $3,000 in May, breaking beyond $6,000 before flaming out at $9,100. With BTC refusing to fall even further below the mid-$7k region even with the ‘CME gap’, there is a growing narrative that bitcoin has found a new support level at $8,000.

The $9,000 resistance level will prove crucial in determining whether BTC can make a run for $10k before the start of Q3 2019. BTC/USD could yet fail to stay above $9,000 which might be the catalyst for the next 20-30% price decline.

Bitcoin’s early June run saw it fall by about 10 percent – the largest weekly loss for bitcoin since plummeting to $3,100 in December 2018.

Tether recently added a fresh supply of ‘newly minted’ $150 million in USDT. BTC price has historically responded positively to fresh injections of Tether funds.

Crypto Winter Well and Truly Over

Apart from bitcoin, Sluymer also picked Litecoin as an interesting proposition in the short-term, especially with its upcoming halving. LTC gains appear to have cooled slightly over the past 24 hours but were up more than 33% in the week prior.

Sluymer expects slight pullbacks as the 4th-ranked crypto approaches the $145 resistance point. Litecoin is up more than 350% since the start of the year and its current price of $135 is the highest since May 2018.

Fundstrat’s co-founder Tom Lee also believes that cryptos are in for some significant price gains, even beyond the short term. Delivering an address at the CryptoCompare Digital Asset Summit in London, Lee declared that the crypto winter was well and truly over.

The Fundstrat chief analyst reiterated previous comments about how a weakened U.S. dollar was positive for BTC price. According to Lee, millennial investors will help push BTC price even higher.

Do you think bitcoin will be able to hold above the $9,000 price mark? Let us know in the comments below.


Images via Bloomberg and, Shutterstock, Twitter @PatCrypt

The post The Current Bitcoin Retracement is Over, Says Fundstrat appeared first on Bitcoinist.com.

Source: Bitcoininst

Cryptocurrency and Cannabis: Risky Investments with a Twist

While classifying investments based on growth potential and risks, investors tend to cluster cryptocurrency, cannabis, and biotech together. While cryptocurrency has several more dimensions of risk, Rob Wertheimer of Melius Research gave a strong point of difference between cannabis and cryptocurrency in an interview with Yahoo Finance, June 11, 2019.  Consumer Perception is King Cryptocurrency has…

Continue reading at BTC Manager

Find out: A major cryptocurrency hit a 13-month high today

Crypto markets in general have been in consolidation for over a week, largely waiting for Bitcoin to make its next move. Litecoin, however, has not been waiting around as it continues to surge hitting a new high for over a year.

Yesterday’s green has been followed by today’s red for Bitcoin and the majority of altcoins. The only one bucking the trend is Litecoin which continues to push higher as halving fomo intensifies. A few hours ago during early Asian trading LTC hit $140, its highest price since mid-May 2018. The move has added a further 10 percent to Litecoin over the past few hours. It has since leveled out at around $139.

litecoin

Litecoin prices 24 hours – coinmarketcap.com

Market cap has now reached $8.6 billion eclipsing both Bitcoin Cash and EOS which were above LTC just a few weeks ago. Daily volume is at $5.6 billion and there seems to be no stopping the Litecoin train at the moment.

Litecoin’s Next Move?

Traders and analysts are looking towards the charts again for possible areas of resistance and profit taking opportunities. Trader ‘CryptoFibonacci’ has found some short term resistance where the Fibonacci levels line up…

Continue reading at NEWSBTC.com

Stop Calling Facebook’s GlobalCoin a ‘Bitcoin Killer’

Unless you’ve been on an Internet hiatus for the last month, you’ve probably heard about Facebook’s secretive Project Libra and the upcoming launch of the company’s GlobalCoin. While there’s still little that we know about the new stablecoin, several figures and news outlets are already dubbing it the next Bitcoin killer. Notice our intentional use of the word “next.”

New York Times calling Bitcoin a failure

Ah, yes. Bitcoin, the failure that currently outranks the second largest cryptocurrency by a factor of five. | Source: The New York Times

Every year or so, an exciting, new cryptocurrency project pops up, causing self-proclaimed gurus to forecast Bitcoin’s demise repeatedly. Yet, the king crypto still stands and holds the number one market cap spot by a mile.

So even though ruthless Facebook is behind GlobalCoin, it’s unlikely to dethrone the king. Let’s take a look at why.

Bitcoin market dominance

Bitcoin has been, is, and will most likely continue to be, the most dominant cryptocurrency. | Source: CoinMarketCap

GlobalCoin Is the Antithesis of Bitcoin

Bitcoin is as valuable as it is because it’s decentralized, resistant to hyperinflation, and censorship-resistant. GlobalCoin is the opposite.

GlobalCoin is obviously centralized as it’s under the monopolistic control of Facebook. To add insult to injury, it looks as if Facebook is teaming up with the same institutions that brought on a need for Bitcoin in the first place. The Wall Street Journal reports that Visa and Mastercard may also be in the mix. We can’t wait to hear about the GlobalCoin fees if that rumor comes to fruition.

Additionally, GlobalCoin is a stablecoin containing a basket of world currencies. This type of cryptocurrency is better protected against hyperinflation than other stablecoins that are pegged directly to, say the U.S. dollar, but it still has its faults.

Who decides how this basket is balanced? Will the currency weightings change over time? What if a particular currency hyperinflates? The answer to all of these questions requires a central authority that’s susceptible to corruption and selfish interests.

Bitcoin’s most vital feature is in its censorship-resistance. Anyone can own bitcoin, receive it from anywhere, and send it to anyone they please. Your funds will never become frozen, and your transactions can’t be blocked. Facebook has a history of censoring user accounts and banning people from its platform. We can expect it to do the same with your finances.

Finally, rumors are circulating that several nodes will operate the GlobalCoin network, which on the surface, should make crypto enthusiasts happy. However, Facebook is reportedly charging $10 million to run a node, keeping the average Joe out of the “decentralization” process.

Facebook Has (Anti)Trust Issues

Facebook is already under a slew of regulatory scrutiny for its Instagram/Whatsapp/Facebook conglomerate. Adding in a financial product that integrates with all three products isn’t going to help its anti-antitrust case.

Although a Facebook explosion, in which the Federal Trade Commission (FTC) would force the company to spin off Instagram and Whatsapp, is unlikely, it could negatively impact the usefulness of GlobalCoin. Without platform interoperability, GlobalCoin is no better than Facebook Messenger’s current money transfer system.

To GlobalCoin’s defense, Facebook is allegedly working with the U.S. Commodity and Futures Trading Commission (CFTC) to ensure that everything is above board. With the SEC, IRS, and other government agencies wanting some control over crypto assets, however, staying compliant may be easier said than done.

Mark Zuckerberg Is More Heartless Than a Bank CEO

The stories of Bitcoin creator Satoshi Nakamoto paint him in a positive light. He appears to be an incredibly intelligent person(s) who was, and most likely still is, fed up with the corruption of government and financial institutions.

Satoshi Nakamoto included “Chancellor on brink of second bailout for banks” in the Genesis Bitcoin block. | Source: Bitcoin Wiki

Zuckerberg, on the other hand, would probably sell out his mom for a new grey t-shirt. His company has been at the forefront of scandal after scandal regarding user privacy, data breaches, and vicious business tactics. Let’s recap a few examples. Facebook:

And the list goes on and on. Zuckerberg’s renewed company focus on privacy isn’t fooling anyone. It’s only a matter of time before we add a GlobalCoin debacle to the list.

Bitcoin Is Here to Stay

Like it or not, Bitcoin isn’t going anywhere. GlobalCoin is nothing more than a centralized currency that completely misses the mark on what a cryptocurrency should be. Even it does experience any success, that doesn’t mean the death of Bitcoin.

Bitcoin has survived government bans, malicious miners, misinformation, slander, 80 percent price drops, and a myriad of copycats. It’s antifragile, getting stronger with each attempt to kill it.

So, please, for the love of God, stop calling anything the “Bitcoin killer.”

The post Stop Calling Facebook’s GlobalCoin a ‘Bitcoin Killer’ appeared first on CoinCentral.

Source: Coin Central

Female Engagement in Bitcoin Hits New High as Adoption Grows

Great news in terms of girl power and the growing number of women in Bitcoin. Female adoption is at an all-time high. Although, it’s still woefully dwarfed by men, who make up over 90%.


More Women in Bitcoin Shows Adoption Is Spreading

The slice of the pie taken up by women may look a little measly at 9.1%. But, let’s celebrate the small victories. This time last year, women in Bitcoin made up just 3% of all users.

women in bitcoin coindance

The times are definitely changing, despite the lengthy bear market. There may be less retail FOMO than 2017, but Bitcoin is now distinctly more than just a word thrown around at dinner parties.

Savvy females are finding use cases for it as a store of value, payment method, and alternative banking method.

More Women in Leadership Positions

Sadly, 2018 saw a slight dip in women in leadership positions despite an all-time high in 2017, when they made up 6.4% of Fortune 500 CEOs.

However, despite this drop, there is a growing number of females present on Fortune 500 boards at over 22%. There are also plenty more key female figures leading up innovation teams, tech, blockchain policy, and speaking at major events.

Ok, so spotting women at blockchain conferences can be like staking out near-extinct wildlife species in the jungle. But, it is slowly beginning to change. Rome wasn’t built in a day after all.

From long-term champions like Amber Baldet, Meltem Demirors, and BitGive’s Connie Gallippi to heavyweights like Lightning Network’s Elizabeth Stark, more ladies are joining in–and leading–the conversation.

Perhaps a piqued interest from women in Bitcoin has also been aided by wider acceptance of Bitcoin and blockchain technology by major businesses. It’s no longer an unregulated and wild space if Microsoft and JPMorgan say otherwise.

Then there are more women in blockchain in general, from IBM Blockchain’s General Manager Marie Wieck to Ripple’s SVP of Corporate Development Kahina Van Dyke.

Bitcoin Is Gaining Mindshare and That’s What Counts

Bitcoin is a gender-neutral technology with no barriers to entry nor tangible reasons why female users are still so few. However, small-but-significant steps are taken almost daily.

From Microsoft Excel adding Bitcoin as a currency option on Excel to Apple adding the B symbol to its new font set, Bitcoin is gaining mindshare in females–and the greater public at large–and that’s what really counts.

Will more women continue to join the Bitcoin revolution? Share your thoughts below!


Images via Shutterstock, coin.dance

The post Female Engagement in Bitcoin Hits New High as Adoption Grows appeared first on Bitcoinist.com.

Source: Bitcoininst

Warren Buffett Will Face ‘All Blockchain Leaders’ At $4.6M Crypto Lunch

Tron CEO Justin Sun will seek help from “all the leaders” in cryptocurrency when he has lunch in infamous Bitcoin naysayer Warren Buffett.


Sun: Lunch To ‘Bridge Crypto And Traditional Investors’

Speaking to Yahoo! Finance in an interview June 11, Sun, who paid $4.56 million in an annual charity auction to dine with Buffett, said his own project should not form the sole focus of the meeting.

“…We want this lunch to be a bridge between the cryptocurrency community and the traditional investor, so that’s why I will bring all the leaders in the… blockchain industry… to have more communication, which will benefit both sides,” he told the network.

Sun raised eyebrows when he announced his participation in the auction, which was held on eBay, earlier this month.

Justin sun crypto

As Bitcoinist reported, his stance within cryptocurrency focuses heavily on publicity for the Tron platform and its associated TRX token, Sun frequently criticizing other extant networks such as altcoin leader Ethereum.

Nevertheless, the event, the date of which remains unknown, will form an interesting occasion when Buffett will be outnumbered at the negotiating table.

The 88-year-old Berkshire Hathaway CEO has delivered uniquely sour verdicts on Bitcoin in recent years, variously describing it as “rat poison squared,” a “gambling device” and “not investing.”

His veteran partner in crime, Berkshire vice chairman Charlie Munger, contributed “turds” and “freshly harvested baby brains” to the mixture.

No ‘Shilling Tron’ to Warren Buffett

Sun knows he will also have his work cut out, voicing doubts about the true potential for anyone to convince Buffett that cryptocurrency is worth gaining exposure to.

“It might be unrealistic in just three hours to convince Warren Buffett to buy cryptocurrencies,” he said in response to a tongue-in-cheek question about using the lunch to “shill Tron.”

We just want to show him the recent progress of… cryptocurrency and… blockchain technology.”

The showdown at least has time on its side: Bitcoin price 00 has rallied once again in recent days to challenge $8000, capping overall six month gains of 136 percent.

Berkshire’s own share price history – up 127,000 percent since 1979 – already pales in comparison to the profits of an original Bitcoin investor. Since its first recorded price in 2009, as of April this year, BTC/USD was up 720 million percent.

Sun meanwhile let slip that his own stash of crypto cash was not involved in paying for the privilege of meeting fiat royalty. The funds instead came from BitTorrent, which Tron acquired last year and which has “nothing to do with” the crypto sector, he noted.

What do you think about the outcome of Justin Sun’s lunch with Warren Buffett? Let us know in the comments below!


Images via Shutterstock

The post Warren Buffett Will Face ‘All Blockchain Leaders’ At $4.6M Crypto Lunch appeared first on Bitcoinist.com.

Source: Bitcoininst

Ripple (XRP) Price Analysis June.10: Ripple Rebounds

Ripple may have seen a very steep 10% price drop over the past week, but it has recently managed to rebound from a very strong support and is now battling to break above the $0.40 resistance level.

Ripple, ranked in 3rd place amongst the top cryptocurrency projects by market cap value, has only seen a small 28% price increase over the past 3 months of trading. In comparison, the rest of the top 5 cryptocurrency projects have seen have all increased by more than 100% in the same period. This leads us to believe that once XRP breaks above the $0.46 resistance level, it has a long way ahead to catch up to this year’s growth of its competition.

Looking at the XRP/USD 1-Day Chart:

  • Since our previous XRP/USD analysis, we can see that XRP/USD went on to fall lower but had managed to rebound at the strong support around the $0.3790 level, provided by a short term .5 Fibonacci Retracement level. XRP/USD has rebounded from this level of support and is now attempting to break $0.40.
  • From above: The nearest level of resistance above now lies at $0.40. Beyond this, higher resistance is expected at $0.4235, $0.4375 and $0.46. If the buyers break above $0.46, higher resistance is then located at $0.48 and $0.50. Above $0.50, further resistance lies at $0.5085 and $0.5375.
  • From below: The nearest level of support now lies at $0.3790. Beneath this, further support lies $0.36, which is bolstered by the 100 days EMA. Beneath $0.36, support is expected at $0.35, $0.34 and $0.3203.
  • The trading volume remains below average but is still relatively high.
  • The Stochastic RSI is in oversold conditions as we wait for a bullish crossover to signal a push higher.

xrpusd_jun10-min

Looking at the XRP/BTC 1-Day Chart:

  • Against Bitcoin, we can see that XRP failed to claim any ground above the 5500 SAT level during June 2019, causing XRP/BTC to fall lower to where it currently trades at 4990 SAT.
  • From above: The nearest level of resistance now lies at 5000 SAT. Above this, further higher resistance lies at 5500 SAT, 6000 SAT, 6135 SAT, 6500 SAT, 6722 SAT and 7000 SAT.
  • From below: The nearest level of support lies at 4800 SAT and 4630 SAT. Beneath this, further support lies at 4347 SAT, 4200 SAT, 4179 SAT, 4100 SAT, and 4000 SAT.
  • The trading volume has started to increase slightly during the first week of June 2019.
  • The RSI has recently dropped back beneath the 50 level to indicate that the sellers have regained control of the market momentum.

xrpbtc_jun10-min

The post Ripple (XRP) Price Analysis June.10: Ripple Rebounds – Attempts To Break $0.40 (Again) appeared first on CryptoPotato.

Source: Crypto Potato

Crypto Debit Cards You Can Use Now Plus a Few to Expect Soon

Crypto Cards You Can Use Now and Some to Expect

Debit cards tied to cryptocurrency wallets provide an opportunity to spend your digital coins almost anywhere fiat money is accepted. It’s a working solution, at least until wider adoption comes around. That’s why they’ve become so popular in the crypto community. Challenges of different sorts have negatively affected some of the earlier offerings, but it’s good to see products that have survived and new ones that are gaining traction or are about to enter the market.

Also read: These Tourist Destinations Welcome Bitcoin Cash Enthusiasts

A Global Crypto Debit Card

During the past year, crypto winter forced businesses to downsize and adjust to unfavorable market and regulatory conditions. Many are still trying to adapt and some are already seeking opportunities elsewhere. For example, the company that issued Shift, arguably the first bitcoin debit card in the U.S. which allowed holders to spend from their Coinbase wallet, is not offering it anymore. It’s now operating under a new brand name, Apto Payments. And in Europe, many card providers suffered a hard blow when Visa terminated Wavecrest’s membership – some have recovered, others are yet to return.

Not everything is so bleak, however. Paycent is a crypto debit card that’s been available worldwide since relatively recently but according to its website, over 53,000 cards have already been delivered globally. They enable users of the Paycent wallet to spend their digital assets in brick and mortar stores as well as with online merchants through conversion to fiat. You can also withdraw funds in local currency from ATMs in just about any country. The card can be ordered from the platform’s wallet which supports a number of coins including bitcoin core, ethereum, litecoin, dash, and the Binance token.

Crypto Debit Cards You Can Use Now Plus a Few to Expect Soon

Paycent’s operator, Singapore-based company Texcent Asia, issues three types of cards – Mastercard, Union Pay International and China Union Pay. The Ruby card (CUP) has spending and withdrawal limits of $2,500, while the Sapphire card (UPI) and the Solitaire card (MC) are limited to $5,600 for transactions and $1,650 for withdrawals. They come as both physical and virtual cards and are delivered for $49. You can find out more about the applicable fees and limits on the Paycent card site.

At the moment, Paycent is offering one of the few, if not the only, crypto debit cards with global coverage. Nevertheless, there’s a number of other options that we’ve previously reviewed and here are those that are still available in mid-2019. Wirex is a popular choice in Europe. Its Visa card supports conversion from several major cryptocurrencies and provides a 0.5% BTC cashback on in-store purchases. The card issued by Bitpay remains a working option for U.S. residents who can use it to shop with Visa merchants anywhere in the world. They can spend bitcoin cash (BCH) and bitcoin core (BTC) from their Bitpay wallet and the cryptos are converted to dollars.

Cryptopay is a platform that offers a prepaid card which can be loaded from its wallet supporting four cryptocurrencies – bitcoin core, ethereum, litecoin, and ripple. The card is currently available for clients in the U.K., Europe and Russia, with negotiations underway with a new issuer in Singapore. It comes in plastic and virtual form and allows holders to spend their coins both online and offline as well as withdraw fiat cash worldwide.

Cards Supporting Bitcoin Cash

A growing number of card issuers now support bitcoin cash in their products, with the above-mentioned Bitpay being the most notable example. Other platforms added the cryptocurrency more recently. Crypto.com’s MCO Visa card has allowed you to spend BCH since the end of May, when the Hong Kong-based payment processor announced it had introduced the coin to its wallet and card app. The company started shipping its debit cards to customers in Singapore last October and promised to take them to the U.S. through a partnership between its Florida-registered affiliate Foris Inc. and the Metropolitan Commercial Bank in New York. Its wallet is currently available in 36 states but there’s been no update on the plans for the card itself.

Crypto enthusiasts who have a Uquid account can order one of their virtual and plastic cards. The platform promises unlimited online spending and ATM withdrawals as well as fee-free POS purchases. You can top up your balance with a staggering number of coins and tokens, a total of 89 so far, including bitcoin cash. Your digital assets can be converted to British pounds, euros and U.S. dollars. The card is not offered in the United States, however, and you’ll be able to determine if your country is eligible only after logging in to your account. Creating one is free of charge but ordering the physical card will cost you up to $17, depending on the fiat currency you’ve chosen.

Crypto Debit Cards You Can Use Now Plus a Few to Expect Soon

Bitnovo buys and sells more than 20 major cryptocurrencies. The trading platform has a mobile app and issues debit cards with which you can pay in stores and online with coins converted to euros. To use it you don’t need to have an associated bank account and you can top up with crypto. Bitnovo added BCH to its options in September last year. It also supports bitcoin core, dash, litecoin, ripple, zcash and stellar. Bitcard allows you to withdraw fiat from ATMs for €1 per transaction and there’s a monthly fee of €1.20. The card is currently available only for EU residents. Ordering a Basic Level card does not require any registration but you can only load up to €250 on it. The Level Plus (up to €2,500 per year) and the Premium Level cards (maximum €15,000) do come with the obligation to share personal data.

An offering known from before the Wavecrest saga is now returning to the market. Belize-based company Advcash is preparing to launch its virtual and plastic cards in the European Union, Russia and other countries. The fiat currency of the ADV Cards will be either euro or U.S. dollar but holders will be able to withdraw any currency at teller machines around the globe. You’ll be able to fund your card with the ADV wallet which supports BCH along with other leading cryptocurrencies such as BTC, ETH, LTC, HRP, and ZEC. Advcash promises free shipping for their cards and no maintenance fees but you need to pay 14.99 in euros or dollars for the card. Detailed information about other fees and limits can be found on the issuer’s website.

Crypto Debit Cards You Can Use Now Plus a Few to Expect Soon

A new player in the niche is the Spanish fintech startup 2gether, which is targeting its products and services at the crypto community in Europe. The platform released its prepaid Visa card in April and its holders can use it in any of the 19 members of the Eurozone with plans to expand availability to the rest of the EU. It allows you to spend your digital coins anywhere Visa is accepted through instant conversion to EUR, which is the common fiat currency of the Eurozone countries. Bitcoin cash (BCH) is one of seven supported cryptocurrencies along with ETH, BTC, XPR, EOS, XLM, and LTC. 2gether lets you hold and manage euro and crypto balances in the same app as well as to buy and sell digital coins.

Are you using any of the crypto debit cards mentioned in this article or other similar products? Let us know in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.


Images courtesy of Shutterstock, Paycent, Uquid, 2gether.


You can now easily buy Bitcoin with a credit card. Visit our Purchase Bitcoin page where you can buy BCH and BTC, and keep your coins secure by storing them in our free Bitcoin mobile wallet.

The post Crypto Debit Cards You Can Use Now Plus a Few to Expect Soon appeared first on Bitcoin News.

Source: Bitcoinnews.com