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Bitcoin Debit Card Singapore

Singapore Residents Clamor For Bitcoin-backed Visa Cards

Singapore Residents Clamor For Bitcoin-backed Visa Cards

Singapore Residents Clamor for Bitcoin-backed Visa Cards Visas dalliance with cryptocurrency continues as they offer pre-paid crypto cards to Singapore residents. According to Bloomberg, Visa is starting to realize they are sitting on a gold mine. This year, cryptocurrency debit cards have become quite popular. Such cards are issued by third party companies that store users Bitcoins or other currencies. When the consumer goes to make a purchase with the card, the issuing company sells a certain amount of the consumers holdings to pay for the charge. When one such company began issuing cryptocurrency-backed cards recently, they were shocked at receiving 17,000 reservations in a short period, without any advertising at all. While the digital currency sector has been surging for the past year, there has been some difficulty in the crossover to mainstream adoption of cryptocurrencies. Much of the lag is caused by difficulties in actually being able to use digital currencies to make purchases . Now, the globally recognised credit card network, Visa, has stepped in to serve a role in the digital economy. They will begin with Singapore . The tiny nation of Singapore has been a forward thinking and receptive country when it comes to cryptocurrency acceptance and adoption, so this seems like a logical step. While most ordinary people are still wary of digital currencies, when a respected company like Visa gives its imprimatur, some of that wariness fades. Being able to spend digital currency with a Visa-backed card allows consumers to spend their cryptocurrency at more than 44 million locations worldwide. Visa has had a few forays into the cryptocurrency sector, having already approved several different cryptocurrency-based card issuers. There is a lot of work that still needs Continue reading >>

Singapore Residents First To Get New Bitcoin Monaco-visa Branded Debit Card

Singapore Residents First To Get New Bitcoin Monaco-visa Branded Debit Card

Singapore Residents First to get New Bitcoin Monaco-Visa Branded Debit Card Posted by ProButterfly | Nov 6, 2017 | Investing | 0 | Singapore Residents First to get New Bitcoin Monaco-Visa Branded Debit Card On Thursday, the Swiss based cryptocurrency debit card provider Monaco announced that their payments partner Visa Inc, has approved the use of their Bitcoin pre-paid debit card for issuance to Singapore based residents. We have curated the relevant links to various sources below: Visa is the worlds largest payment network and has approved this Monaco branded card issuance through its issuer Wirecard AG. The Monaco card is now available for registration through their iOS or Android app which can be downloaded to a users smart phone. The app will require email and mobile number verification before the user is able to be placed in the queue to receive the card. All Monaco crypto-currency prepaid debit cards have no monthly or annual fees with no minimum spend requirements. Instead, a card applicant is required to stake a certain amount of Continue reading >>

Bitcoin Visa Cards Will Start To Operate In Singapore

Bitcoin Visa Cards Will Start To Operate In Singapore

By UseTheBitcoin in Cryptocurrency News Home Good news for Bitcoin and cryptocurrencies. Visa is expanding itself landing in Singapore with a Bitcoin and cryptocurrency debit card. According to Bloomberg, the company will start to issue debit cards that will allow customers to purchase with Bitcoin using a Visa debit card. When a person wants to purchase with Bitcoin, the problem is where to find a shop that accepts this cryptocurrency. With this new debit card, more than 44 million shops are available to receive payments by means of cryptocurrencies. When a customer decides to purchase with this card, the company sells a certain amount of the customers savings in order to pay for the charge. The chosen country to start to test this system will be Singapore. This country is known for its open policy towards Bitcoin. Some time ago, Ravi Menon, head of the Monetary Authority of Singapore, commented about cryptocurrency regulation in that country. Our attitude is to keep an open mind about Bitcoin. Very few jurisdictions regulate cryptocurrencies per se. The currency itself does not pose the kind of risk that requires regulation, he said. This step made by Visa, allows cryptocurrencies the possibility of being used as a currency in an easier way. While the biggest use of Bitcoin at the moment is speculation, with Visa, this tendency can change. We have yet a long way to do to see a mainstream adoption of cryptocurrencies. Bitcoin and Cryptocurrency Cards are Expanding There are different Bitcoin debit cards in the market at the moment. BitPlastic, Shift, Wirex , Xapo, CryptoPay and BitPay are the most known crypto cards available right now. This year, Bitcoin and cryptocurrency market capitalization arrived at 200 billion dollars, something that is expected to grow in the Continue reading >>

Visa Offers Cryptocurrency Card In Singapore | Pymnts.com

Visa Offers Cryptocurrency Card In Singapore | Pymnts.com

Singapore residents will soon be able to make purchases with a prepaid Visa card backed by the cryptocurrency platform Monaco . Our team has worked incredibly hard over the past year to achieve this milestone. This is an important step towards Monacos vision to introduce cryptocurrency to the mass market, said Kris Marszalek, co-founder and CEO of Monaco, in a press release . We believe that the Monaco card program lays solid foundation for Monacos growth, and were grateful to all partners for their support. The demand for the Monaco Visa prepaid cards has exceeded our expectations with over 17,000 cards reserved, based on word of mouth alone. With perfect interbank exchange rates, and 0.75 percent cryptocurrency cash back on all transactions, the Monaco Visa prepaid card will become the card of choice for consumers. More perks will be added over time to turn the Monaco Visa prepaid card into a dominant force in payments. Both iOS and Android users in Singapore will be able to download the Monaco app and select one of five available Monaco Visa prepaid card options, including the Monaco Visa Platinum. They will then have to complete a three-minute onboarding process to get on the waiting list. With the Monaco app, users will be able to buy and exchange cryptocurrencies , including bitcoin and Ethereum, at the 44 million merchant locations registered with Visa and without currency exchange fees. All exchanges to legal tender currency will be managed by Monaco before users transact on the Visa network. For Monaco, Singapore is just the beginning of this program. According to Bloomberg Technology , the company recently hired Brent Diehl, a former Visa executive, to lead its international expansion into Europe, North America and the rest of Asia. Monaco gained as much as 6 Continue reading >>

Singapore Fintech Firm Trying To Make A Bitcoin Visa Card

Singapore Fintech Firm Trying To Make A Bitcoin Visa Card

Singapore Fintech Firm Trying to Make a Bitcoin Visa Card TenX , a fintech firm based out of Singapore, is trying to bring cryptocurrencies, like Bitcoin and Ether, out of the digital world and into the real world through the creation of a pre-paid Visa card that will instantly convert cryptocoins into real spendable cash. over $80 million from an initial coin offering (ICO) last month, aims to do what several companies have tried to do in the past: create a card you can carry in your wallet that will let you spend cryptocoins in real life. Customers will be able to link their Visa debit card to a digital wallet through TenXs application. When they pay for goods at a merchant using the card, the merchant will receive real fiat currency and the customers digital wallet will be debited the same amount but in the form of cryptocurrency. The transaction will be instantaneous, but more importantly secure because by using cryptocoins every transaction will be recorded and immutable. TenX plans to charge 2% per transaction and is capping customer transactions to a total of US $2,000 per year. So far, the company claims to have over 10,000 orders for its card. Visa and TenX arent the first duo to try to bring digital currencies into the real world. According to an article on Fortune , bitcoin wallet Xapo announced in 2014 that it was partnering with Mastercard to launch a similar bitcoin card. Mastercard, however, quickly disavowed the partnership. Coinbase, which is a cryptocurrency exchange based in San Francisco, similarly announced its Shift Card last year and advertises it as the first U.S. debit card. It remains to be seen whether TenX or Coinbases bitcoin debit cards will take off, but hopefully, the fact that a major credit card company like Visa is so publicly involve Continue reading >>

Multiple Bitcoin Debit Card Providers Suspend Service Under Orders Of Visa

Multiple Bitcoin Debit Card Providers Suspend Service Under Orders Of Visa

Multiple Bitcoin debit card providers suspend service under orders of Visa The Bitcoin community is reeling after several pre-paid crypto debit card providers abruptly suspended service. The companies affected include Bitwala, Cryptopay, Wirex, and TenX. These services allow individuals to spend cryptocurrencies predominantly Bitcoin in traditional brick-and-mortar establishments through a debit card issued by one of the major providers, Visa and MasterCard. Following an announcement from our card issuer on behalf of Visa Europe, Bitwala cards are taken out of operation starting today. Our team is holding an emergency meeting to resolve the issue with the card holders best interest in mind and will make an update shortly. Unfortunately, our card issuer instructed us to cease all Cryptopay prepaid cards starting January 5th, 2018. All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP. Sorry for all the inconvenience caused, were working on the solution! Speaking to their customers on Twitter , the affected companies have said the move is the result of actions from their card issuer, who was acting on behalf of Visa Europe. A tweet from Singapore-based TenX itentifies their card issuer as the Gibraltar-based WaveCrest. Its not clear if WaveCrest was the provider for all the aforementioned companies. It certainly appears that way though. #TenX advisory: Following an urgent communication from our card issuer WaveCrest, payments on the TenX card will be unavailable. We are working on a solution and will let you know further details as soon as we have them. We apologise for the inconvenience. Users of other bitcoin debit card services have reported receiving emails from WaveCrest informing them that they had to close all WaveCrest debit card Continue reading >>

Monaco - Cryptocurrency In Every Wallet

Monaco - Cryptocurrency In Every Wallet

Hold, spend and exchange multiple currencies, including Bitcoin and Ether. Top up with bank transfer, debit/credit card, Bitcoin and Ether A saving of $4.00 compared to the bank average Get the real exchange rate, up to 8x cheaper than the banks. Earn Monaco Tokens with every swipe of your Monaco card. Up to 2% MCO cashback on all transactions Continue reading >>

How To Buy Bitcoin In Singapore

How To Buy Bitcoin In Singapore

Charanjit Singh - 11 December 2017 at 5:08 There's been a whole lot of buzz around bitcoin lately. Bitcoin seems to have become a constant talking point at just about every dinner party I've been at this past month. And the moment I mention that I have invested in bitcoin and some other crypto currencies, I am inundated with questions on how to go about easily getting your hands on some bitcoins. I purchased my first bitcoin earlier this year after having followed this phenomenon and blockchain technologies closely over the last couple of years. I won't discuss the merits of the crypto currency here (perhaps in another post), but will try to put forth a couple of options for the average Singaporean fella to get his hands on bitcoin. Disclaimer: I am not recommending that you buy bitcoin or any other crypto currency. Before you invest, make sure you are fully aware of the risks, the downside and the potential pitfalls. It's worth checking the MAS website for the Singapore government's stand on crypto currencies. If you're still keen, this article shows you how you can do it best. There are essentially two ways you can buy bitcoin in Singapore. You can go online to one of the many bitcoin exchanges or head down to a local ATM where you can exchange your Singapore dollars for bitcoin in an instant. When it comes to buying Bitcoin online, there are a multitude of options available to you. Depending on your needs and how deep you want to get into crypto currencies, I have laid out three ways that have worked well for me. Coinbase is one of the easiest ways to buy bitcoin online for the newbie. With an easy-to-use interface and mobile app, you can buy and sell bitcoin directly from your computer or mobile phone. Coinbase is one of the most popular bitcoin exchanges in the wo Continue reading >>

Visa Approves Monaco Cryptocurrency Card For Singapore Residents

Visa Approves Monaco Cryptocurrency Card For Singapore Residents

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Visa Approves Monaco Cryptocurrency Card for Singapore Residents @jennysurane More stories by Jennifer Surane Visa Inc. has approved a prepaid card backed by the cryptocurrency Monaco as the worlds largest payments network continues its foray into digital currencies. Monacos prepaid card has been approved for issuance to Singaporean residents, Visa spokeswoman Lea Cademenos said in an email. Visa approved the program through Monacos issuer, The demand for the Monaco Visa prepaid cards has exceeded our expectations with over 17,000 cards reserved, based on word of mouth alone, Kris Marszalek, Monacos chief executive officer, said in a statement on Tuesday. This is an important step towards Monacos vision to introduce cryptocurrency to the mass market. Cryptocurrencies are clamoring for deals with Visa because it would mean they could be converted into fiat money and accepted at the 44 million merchant locations in the payments network. Monaco gained as much as 695 percent in value beginning on May 17, when the firm tweeted it would offer a Visa-branded payment card. Monaco didnt have a deal with Visa at the time. Read more: The power of even a possible Visa deal Monaco has said Singapore is only a starting point for its prepaid card program. The firm recently hired Continue reading >>

Singapore's Tenx Announces Bitcoin Debit Card Now Shipping

Singapore's Tenx Announces Bitcoin Debit Card Now Shipping

Singapores TenX announces Bitcoin debit card now shipping Singapore-based cryptocurrency solutions provider TenX announced today their long awaited physical Bitcoin debit card is now ready to ship. The card comes with CHIP and Tap & Pay functionality. In December 2016, the company started beta testing its virtual card service , which is expected to be fully launched soon. International shipping (taking anywhere from 10 -15 days) will cost USD $15, paid through the TenX app. Additionally, active cards will be charged a yearly $3.50 fee. Previously known as OneBit the company renamed itself earlier this month to TenX , which they said is in line with their vision to grow more than 10x while providing its users with financial services on the blockchain. The firms flagship wallet also renamedto TenX Wallet from OneBit Wallet accordingly. The company decided to ship its OneBit branded cards out first, calling them OneBit Edition, but was probably left over before the rebranding occurred. More than just a crypto payment solution, TenX provides blockchain asset exchange and liquidity, and will soon be launching an ICO, with more details on that soon to come. TenX also made known that Ethereum and ERC20 Tokens will soon be available on the platform. Continue reading >>

Singapore Residents First To Get New Bitcoin Monaco-visa Branded Debit Card

Singapore Residents First To Get New Bitcoin Monaco-visa Branded Debit Card

Visa Approves Monaco Cryptocurrency Card for Singapore Residents Visa is the worlds largest payment network and has approved this Monaco branded card issuance through its issuer Wirecard AG. The Monaco card is now available for registration through their iOS or Android app which can be downloaded to a users smart phone. The app will require email and mobile number verification before the user is able to be placed in the queue to receive the card. All Monaco crypto-currency prepaid debit cards have no monthly or annual fees with no minimum spend requirements. Instead, a card applicant is required to stake a certain amount of Monaco tokens for at least 6 months to qualify for the respective card tiers. Monaco issues 4 different tiers of the card with the highest tier being the Obsidian Black. This is an extremely rare card and only 999 will be available for circulation. It allows unlimited interbank exchange rates and a maximum of $1,000 free ATM withdrawal limit per month. Thereafter, a 2% surcharge will apply for ATM withdrawals. The Obsidian Black also comes with a 2% cash back feature. To qualify for the Obsidian Black card, an applicant is required to stake 50,000 MCO tokens for at least 6 months. At time of writing, each MCO token is currently worth approximately US$6. This would bring the cost to stake at a whopping US$300,000! However, there is also the free Midnight Blue card option which is completely free and do not require the applicant to stake any MCO tokens. The free Midnight Blue card allows up to $2,000 of exchange rate limit per month, thereafter 0.5% for each transaction. There is also a maximum of $200 free ATM withdrawal limit. The other options are the Ruby Steel and Precious Metal cards which require a 50 MCO and 500 MCO stake, equivalent to approx Continue reading >>

Step-by-step Guide To Buying Bitcoin In Singapore (for Beginners)

Step-by-step Guide To Buying Bitcoin In Singapore (for Beginners)

Ive been getting a number of emails and Facebook messages these few days about how to buy Bitcoin, so I thought Id pen it down in a post today for everyones reference! (Note: This is largely written for Singapore residents, but foreigners can use this as a guide to buying Bitcoin regardless of where you are located. Before I invested my first dollar into Bitcoin, I spent quite a significant amount of time and money attending Bitcoin (preview) courses by so-called gurus or master crypto traders. While there was some sort of value from their workshops, what frustrated me the most was that NONE of them told me explicitly HOW to buy Bitcoin. And mind you, I did ask! I raised my hand during the class, and even stayed back after the workshop(s) to askhow exactly can I buy Bitcoin in Singapore. The answer was always: Its a complicated process and I need to walk you through step-by-step. No worries! Come for my ($XXX $XXXX) course and Ill teach you! None of these teachers were interested in telling me how to buy Bitcoins. Their workshops were mostly a preview for them to up-sell their thousand-dollar course. So guess what? I consulted some savvier friends instead who have been in the crypto space for much longer than I have, and found outhow to buy Bitcoin safely and securely in Singapore. Heres sharing with you, so you dont have to pay any guru a 3 or 4-digit fee just to find out, because it really isnt that complicated as theyll have you believe! After evaluating both apps and asking both my friends in Singapore and abroad, I decided on using Coinbase instead. Some of the key reasons driving my choice came down to which site had more users, a higher level of security and more trustworthy team (including an ex-Google software developer), as well as the fact that Coinhako had Continue reading >>

11 Ways To Buy Bitcoin With A Credit Card In Singapore | Finder Singapore

11 Ways To Buy Bitcoin With A Credit Card In Singapore | Finder Singapore

What to look for when buying bitcoin with a credit card Each service might have its own restrictions on credit card payments, which can affect how long it takes and how cost-effective it is. In particular, you should note that bitcoin will likely count as a cash advance, with commensurately high-interest rates. Youll want to make sure you can pay off the purchase. Cards accepted. Like any other service, not all cards will be accepted everywhere. Transfer limits. You might find yourself with low transfer limits initially, rising over time as you make more transactions. The credit card transaction limit might be different from other payment methods. Credit card surcharges. Youll often be paying a 1-2% credit card surcharge on top of any other fees and commission being charged. Some overseas services might charge significantly more. With credit card payments, in particular, it might be worth shopping around and checking the fees at different cryptocurrency services. Currency exchange fees. Watch out for currency exchange fees in particular. If youre using a Singapore credit card on an overseas exchange then you might be paying the credit card currency conversion rates. A 0% foreign fee credit card might be useful for cutting costs. How exactly it works. Look for a process thats in line with what you want. For example, do you need to link a card to your account, or can you just make one-off payments? Is it easy to buy other cryptocurrencies with a credit card? Bitcoin is the most widely offered cryptocurrency, so your options for other altcoins will be more limited. If you want to buy Ethereum, Bitcoin Cash, Bitcoin Gold, Litecoin or any other cryptocurrency with a credit card, you might have the most success on an exchange, or by simply buying bitcoin and then trading it Continue reading >>

Bitcoin Visa Card From Singapore's Tenx: Will It Work? | Fortune

Bitcoin Visa Card From Singapore's Tenx: Will It Work? | Fortune

A Singapore-based startup has big plans for digital currency: The firm, called TenX , intends to issue a pre-paid card that will Take Bitcoin Into [the] Real World With Visa . Or at least thats what the headline says. According to Bloomberg , which reported on TenXs plans, the company will offer a Visa card tied a digital currency app. This arrangement is intended to let consumers make ordinary purchases at coffee shops and elsewhere using a card backed by bitcoin or other digital assets. Here are more details: TenX is pitching its debit card as an instant converter of multiple digital currencies into fiat money: the dollars, yen and euros that power most everyday commerce. The company said it takes a 2% cut from each transaction and has received orders for more than 10,000 cards. While transactions are capped at $2,000 a year, users can apply to increase the limit if they undergo identify verification procedures. TenX, however, is hardly the first company with ambitions to increase bitcoins footprint in the marketplace by piggy-backing on existing card networks. In 2014, the bitcoin storage company Xapo announced a Mastercard tied to digital currency wallets, but the credit card giant immediately disavowed the partnership. Since then, Xapo has created a bitcoin-backed debit card that works with Visa. Meanwhile, the San Francisco-based digital currency exchange, Coinbase, launched the Shift Card, which lets users pay with bitcoin using the Visa network. From a merchants perspective, however, the transaction is no different from a regular Visa transaction since all of the bitcoin-related elements occur behind the scenes. Continue reading >>

Tenx Convert & Spend Virtual Currencies. Anytime. Anywhere.

Tenx Convert & Spend Virtual Currencies. Anytime. Anywhere.

Convert and spend your virtual currencies in real life The TenX wallet and card* have been tested by well-known figures in the industry with payments in 50 countries across the world. Available now on iOS, Android, and the web. What you see is exactly what you get. No complicated fees. Use blockchain assets with the same convenience like your local currency. The minimum fee lets you convert and spend your assets with your mind at ease whether locally or when you are abroad. TenX has figured out how to solve one of the biggest problems for people that are involved in cryptocurrency actually spending the currency. TenX supports blockchain assets across multiple blockchains. We currently support Bitcoin. Ethereum, Ethereum ERC20 Tokens (DGX, REP, TRUST, ANT, etc.), and DASH are in closed beta testing. Continue reading >>

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