Danish Bitcoin exchange CCEDK introduced a revolutionary way to use Bitcoin and other digital currencies via the first true cryptocurrency credit card on the market today, and this could just be the key for online casino enthusiasts to maximize Bitcoin usage even on other gambling sites.
Called the Bitcoin Debit NanoCard MasterCard, this latest product enables anyone to pay for meals in restaurants, to shop for items in stores, or to make transactions online through the instant Bitcoin-to-fiat conversion over the Bitcoin exchange.
In essence, the NanoCard functions like any typical credit card available today, provided that the shop or the website accepts MasterCard for payments. Designed to be a universal card, it is currently available only on CCEDK and its partner in this project, Bit-X.
CCEDK CEO Ronny Boesing said:
“After some hard negotiations, we have made agreement with Bit-x for a partnership with no limits. As a result we are really proud after only one year in the industry to have the opportunity to offer an impressive project likes this – perhaps the cryptocurrency community’s first true crypto debit card 2.0, issued by MasterCard and banking partners.”
The NanoCard will become available on CCEDK beginning June this year, but those interested can already get a similar card through Bit-X.
Not like the typical Bitcoin cards
A Bitcoin debit card may sound new, but this is not the first card to have been launched on the market.
Other companies like Xapo and E-Coin have already released Bitcoin credit cards. However, these require users to either manually fund the card before making transactions or to pay the bills using Bitcoin.
With the Bitcoin Debit NanoCard MasterCard, users will no longer have to top up theirs cards with Bitcoin because the card will be using the BTC funds directly from the user’s CCEDK exchange balance. Thus, the exchange will only take place once the transaction was made, thereby protecting the user against the fluctuating price of Bitcoin.
Moreover, since it is powered by MasterCard, it supports USD and EUR transactions. However, US citizens will be covered by certain restrictions regarding the spending limits.
In addition, other digital currencies may also be supported by the NanoCard, which will make it the first cryptocurrency debit card. Altcoins like NXT, Litecoin, BitUSD, BitCNY, and BitEUR may be added soon, but it appears that NuBits will become the first to be integrated, according to Boesing as per reports:
“NuBits have been a strong partner in supplying liquidity to the NuBits Trading pairs on the exchange ever since their introduction in September last year, so it seems natural to offer this currency pegged to the USD a possibility for direct use to USD and EUR worldwide via this new Bitcoin Debit NanoCard from CCEDK, and if it could help increase the interest for Nubits in the same time, wouldn’t that just be a great bonus!”
For Bitcoin casinos and beyond
With the basic functionality similar to the typical credit and debit cards, CCEDK’s latest product offering proves to be a promising tool to empower Bitcoin gamblers to explore their winning opportunities even on the fiat-run online casino market.
Instead of wagering coins on select Bitcoin betting sites like Fun Casino, players may also try their luck on various real-money gambling venues like PokerStars.
Through the instant exchanges and innovative system employed for the NanoCard, players from across the world will have more ways to get their hands on endless winnings from playing real-money and Bitcoin games online.
Meanwhile, the first 10,000 customers to avail the NanoCard will be able to use the card for free and without any monthly fee.