Xapo Now Offers The First Credit Card Linked To Your Bitcoin Wallet

xapo_logo24 Apr 2014 / Tech Crunch – Bitcoin vault Xapo the made news in March after launching an insured, secure repository for big BTC investors. The service, which has gone so far as to bury paper bitcoin keys in underground vaults, has become a big finance darling. Now it’s going after the average user by offering MasterCard credit cards directly linked to a Xapo bitcoin wallet.

“Most of our customers keep 90% of their bitcoin in our vault and 10% in their wallet,” said Wences Casares. The addition of card access to these wallets will allow that 10 percent to be instantly transferred to cash.

Users of the free Xapo wallet will receive a free credit card number complete with expiration date that they can use to pay online. For $15 they can request a physical card with magstripe that is usable at any store that accepts MasterCard. PIN and chip cards will be available in Europe.

When used, the card payment system pings an associated Xapo wallet. Xapo checks for sufficient funds and then uses Bitstamp to sell the bitcoin for fiat currency to pay the vendor. Vendors pay regular credit card fees while the customer pays no fee.

The service doesn’t allow for ATM withdrawals – yet. Cesares expects that functionality to come soon….. Read more


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