Prepaid Card for Bitcoins Introduced
Bitcoin enthusiasts may have a new way to get access to their favorite digital currency. A company called Prepaid Bitcoin has developed a new product–a prepaid card for Bitcoins.
The new card allows users to pay for Bitcoins in four denominations: $10, $25, $50 and $100. The card is then loaded with the amount of Bitcoins that correspond to that cash value at the time. If the current market value for Bitcoins is $500, a $100 card would buy approximately 0.2 BTC.
“Our prepaid cards put Bitcoin within reach of the average consumer, and make it easier for them to purchase smaller amounts of Bitcoin,” said Prepaid Bitcoin CEO Josh Agho. “We have an attractive revenue share model for retailers and distributors. Bitcoin is in very high demand, and bulk Prepaid Bitcoin cards give retailers an easy way to provide it to their customers.”
This prepaid card and other products like the Bitcoin ATM are helping the cryptocurrency establish credibility.
Some questions are still left unanswered about Prepaid Bitcoin. Will users be able to buy a card with Bitcoins? Will they be able to use the money on the card as cash if they do not wish to trade it as digital currency? Only time will tell.