Topic: 2013-11-04 CoinDesk: Bitcoin debit cards come to Canada (Read 1594 times)

What it looks like is that it'll be used as a true debit card.  CoinKite will be acting as a processor to between the merchant and your CoinKite Wallet, and it appears you can pay directly from the wallet.  I just got my invite for the site, so i'll see if there is any more information.  It also mentioned that you don't have to use your Debit Card, that the POS Terminals will allow reading of a QR Code if you just want to use your mobile phone instead.

Update:  Looks like its truly a Debit Card

Step 1: Create your CoinKite account
Step 2: Fund your CoinKite account from another wallet or buy Bitcoins from partnered affiliates (quickbt.com & soon to be cavirtex.com).
Step 3: Use your Debit Card/QR Code at merchants to use access your 'chequing' or 'savings' account (these are the names of the accounts pre-generated when you open up a CoinKite account to make it similar to your online banking experience)


You can buy a monthly account that offers a lot of unlimited stuff for 0.06BTC/Month (annual price available),  or a business account which has more features for 0.18 BTC/month.

They also have a mini version (for consumers) which has no monthly cost but a 2.47% withdrawal fee (i'm guessing to withdrawal back to cavirtex or a different wallet as it says the mini version includes free POS withdrawals)

1) Canada has been a beacon of bitcoin adoption for some time now.

2) there's a bitcoin debit card from some company in Poland already created (I saw a physical one two weeks ago).

However, it was for a debit card that could be funded by selling bitcoins and converting to Euros/USD for the swipe transaction.

Is this debit card truely a bitcoin transaction, or the same as what I just outlined?  (I didn't read the article yet)

Thanks!

Ah... Just read the article. Because of the language barrier and fatigue I thought Arvicco was only talking about the Vancouver ATM.

They mention Cavirtex in the article and the ability to get a Prepaid Debit Card to withdrawal funds at ATM/use at POS.  I just signed up for Cavirtex so going to try and get one!

Cavirtex is now offering debit card(in $) that you can load directly from the exchange via Bitcoin.

So this has the potential to be huge...but we'll have to see how merchant acceptance works.
I just requested an invite from Coinkite and might contact to get some more information from them.  My company would technically be a direct competitor to Coinkite so it would be interested how they plan on rolling this out!

We have a lot of cools things rolling out in canada to reduce the use of physical currency, and physical cards such as having all of your credentials on your mobile phone to use as payments, so if there is a spot to adopt something like this, it would be Canada.

The new bitcoin ABM had $10k in volume the first day and $30k the next!  Not too shabby.

i've thought about moving to canada. it's chilly though

http://www.coindesk.com/bitcoin-debit-cards-come-canada/

Canadians were able to succeed where others failed and pull off this ATM thing... Why not Bitcoin debit card?

Might Canada become a shining beacon of Bitcoin adoption and real freedom, as opposed to "take-no-prisoners" attitude by the US Paper Belt?