A bitcoin exchange, Bit-x introduced MasterCard denominated in bitcoin. MasterCard has not commented on the matter yet.

The bank card became the main product that the bitcoin exchange advertises on its main page:

“We guarantee low commissions and service fees. All operations are processed by the systems of our bank partners and by MasterCard™.No need to verify your identity to use the Bit-X Debit MasterCard™ (verification enables unlimited use!).”

The bitcoin exchange claims that “the card has no limit”. Before the launch of the card, Bit-x exchange organized a marketing campaign on Reddit. The representatives of the company said that the card is not completely free:

“A 0.05 BTC setup fee is waived for all clients who complete basic verification prior to April 1, 2015.”

The general reaction of the Reddit users was positive. “That’s really nice steps from your side,” said Imfrunskaat.

The company does not disclose the names of the banks that agreed to work with the bitcoin. To make it even more interesting, Bit-x is officially registered in London – and as CoinFox reported earlier, British banks are rather cautious about bitcoin.

Bit-x is not the first company that started to issue its own cards. Xapo is a bitcoin startup that provides bank cards nominated in bitcoin. In the summer of 2014, a group of experienced entrepreneurs, including PayPal cofounder Max Levchin, invested $20 million in Xapo. The company began to provide bank cards for bitcoin but experienced some problems with intermediary bank transaction fees. These problems have since been successfully resolved.

 

Roman Korizky