Topic: CoinCollab - Physical Coin Card (Read 1041 times)
They will be shipped on demand.
How do you plan to distribute them? I can help with that. Will they be shipped on demand or how?
Our team is still working out a fee schedule, however I'm pretty sure it's safe to say only a 1% fee will be incurred for the conversion.
You will have two options to handle how the BTC is used.
You can chose to send BTC and covert it to USD immediately. If you do not have a USD balance on the card you will be able to use up to 99% of your BTC for a real-time transaction.
If you care to know how that works I can explain briefly. The card company we are partnered with allows us to set an overdraft allowance per card. We are setting the overdraft amounts every 15 minutes equal to 99% of the USD value of your BTC. The transaction see's there's not enough money to cover the transactions, ask for an overdraft value. During the overdraft call we transfer the USD to the card and with the callback we tell the transaction to "try again". When it tries again, there will be a positive value and it will process as normal. After the transaction is completed the overdraft value is reset once again. This allows for real-time conversion and lower fees for everyone.
@geri. We are partnered with Netspend, who offers great deals for people wanting to start their own line of prepaid credit cards. Netspend is licensed with MasterCard International. Therefor, so are we.
You will have two options to handle how the BTC is used.
You can chose to send BTC and covert it to USD immediately. If you do not have a USD balance on the card you will be able to use up to 99% of your BTC for a real-time transaction.
If you care to know how that works I can explain briefly. The card company we are partnered with allows us to set an overdraft allowance per card. We are setting the overdraft amounts every 15 minutes equal to 99% of the USD value of your BTC. The transaction see's there's not enough money to cover the transactions, ask for an overdraft value. During the overdraft call we transfer the USD to the card and with the callback we tell the transaction to "try again". When it tries again, there will be a positive value and it will process as normal. After the transaction is completed the overdraft value is reset once again. This allows for real-time conversion and lower fees for everyone.
@geri. We are partnered with Netspend, who offers great deals for people wanting to start their own line of prepaid credit cards. Netspend is licensed with MasterCard International. Therefor, so are we.
How it can be licensed with MasterCard international? That's a joke?
When I send BTC to the card, will it stay in BTC and gets converted to USD the day I spend it?
What is the conversion rate from BTC to USD?
What is the conversion rate from BTC to USD?
Physical Card Features - MasterCard
- Complies with ISO/IEC 7810 (ID-1) - 85.60mm x 53.98mm x 0.76mm
- Complies with ISO/IEC 7816 - Contact Smart Cards - 2mA
- Complies with ISO/IEC 7810, 7811, 7812, 7813 - Magnetic Stripe**
- Licensed with MasterCard International**
- Public Bitcoin Address by QR Code
- More than 10 designs to chose from, including a clear card
- 10 additional designs for Non MasterCard version
Actual Card Features
- Accepted anywhere MasterCard is accepted**
- Load funds at Walmart, Kmart, Walgreens and more.**
- Acts as a secure offline Bitcoin wallet
- SmartChip used to store private key data
- Bitcoin to Credit**
**Not included for Non MasterCard version
Short Explanation
The idea of the card is to allow people to exchange their Bitcoin for USD funds that will instantly appear on their CoinCollab Card. Though we’re pushing Bitcoin, you can still load funds at almost any major retail store or gas station using USD. CoinCollab is a fresh start-up and doesn’t have the funds of a major card provider. There will be Bitcoin limit restrictions. Below shows an estimated reload value with todays current BTC value. ($856.00) The max per day value that can be loaded in either cash or BTC is $3,000 USD with total max card value of $5,000.
1-100 card users - Max BTC Load 0.1 BTC/Day
101-500 card users - Max BTC Load 0.5 BTC/Day
500-1000 card users - Max BTC Load 1.0 BTC/Day
1001 + Card users - Max BTC Load 3.5 BTC/Day
Each card comes with a USB SmartCard Reader. This reader will be used to interact with your secure private keys to create transactions online or offline. For advanced users software will be provided to allow you to add up to 8 other public/private key pairs to the SmartChip for safe offline storage. These key pairs are not limited to Bitcoin. The software will also allow you to create secure encrypted offline backups of your SmartChip data in the event of a damaged or lost/stolen card. Using your security code the card can easily be replaced and your SmartCard data restored. CoinCollab will be shipping with the ACR38U PocketMate.
If you purchased a Non MasterCard version you can store up to 10 Crypto Currency key pairs on the SmartChip for safe offline storage. During checkout you can specify up to 10 Crypto Currencies to be included.
A QR Code of the public address is on the back of the card that enables you to collect funds off of friends or customers.
CoinCollab stores ONLY the PUBLIC Bitcoin address with customers name and address in the case of a lost card being returned. The Bitcoin key pairs are generated using an offline computer and are only stored in memory until the card printer reports a successful job.
Cost - MasterCard (Includes Reader)
Qty Price/each Shipping
1 $25 $2.50
5-10 $18 Free
11-50 $15 Free
51 + $12 Free
Cost - Non MasterCard (Includes Reader)
Qty Price/each Shipping
1 $15 $2.50
5-10 $10 Free
11-50 $8 Free
51 + $6 Free
Will be accepting pre-orders soon. We're looking for serious feedback.
We're also offering a bounty for any new card designs.
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