![]() “If you’re using a good, modern Bitcoin wallet, it’ll take seconds-to-minutes for the money to arrive on your card,” said James Walpole, Marketing & Communications Manager at BitPay. The BitPay Prepaid Debit Card allows users to convert Bitcoin into cash to use anywhere Visa® is accepted. Those funds can then be used immediately wherever Visa is accepted. That number hasn’t increased as rapidly as the price of the tokens, much to the frustration of early adopters.īitPay hopes to solve that problem with its reloadable prepaid debit card issued by Visa. By using Visa’s mobile interface, cardholders, in a matter of seconds, convert some or all of their Bitcoin holdings into dollars. More than 10,000 retailers and service providers currently accept Bitcoin. That same 10,000 BTC now could purchase 98,505 shares of Amazon stock, the most expensive home ever sold in Los Angeles, or 905,720 large pepperoni pizzas from Papa John’s. An overused joke during the currency’s 2017 value explosion reiterates how much that transaction is worth in today’s market ($119,585,800 if you’re keeping track). On May 22, 2010, Jacksonville, Florida, programmer Laszlo Hanyecz paid a fellow BitcoinTalk forum user 10,000 BTC for two Papa John’s pizzas. In addition to the card, BitPay also offers a highly secure Bitcoin wallet and merchant services that give retailers the ability to accept coin at a low 1% transaction fee. The card experienced nearly 700% growth in 2017. To combat that, BitPay developed a system that converts coins into dollars and instantly loads the value onto a prepaid debit card that can be used anywhere Visa is accepted. As prices surge past $10,00o per coin, the number of retailers accepting the currency as payment only moderately rises. In a Nutshell: Bitcoin’s value explosion is unlike anything seen in the financial market in several decades.
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