BitPlastic: A Functioning Bitcoin Debit Card
Bitcoin is currently in the process of making cash obsolete and that day is in the foreseeable future for most believers. There will soon be a time where almost anything that can be purchased with a debit card can also be purchased with a simple scan of a QR code. Bitcoin and other digital currencies have not yet received that level of adoption amongst the general public and until that happens we must seek out alternative ways of spending the return on our intelligent investments.
BitPlastic is a new service that allows users to register an account and be issued a BitPlastic Bitcoin debit card. Users are given a bitcoin wallet that features cold storage to ensure security of deposits. Upon registration, the company takes a deposit ranging from .2BTC to .4BTC. The deposit is credited back to the user once $3500 USD has been put through the account in a one year period. Users credit their account on BitPlastic with BTC and then an issuing bank converts the BTC to USD based on the trading price on CoinChimp. Once converted, there is no turning back into BTC. Bitplastic stresses the importance of only transferring how much can be withdrawn in one day based on the fact that if the card is lost or stolen, no refund will be issued.
Funding can get onto the card as soon as 24 hours, sometimes faster. Essentially this service sells your bitcoin and loads the fiat onto a prepaid debit card that can then be used for POS sale or cash withdrawal. There is a limit of $1000 dollars for over the counter purchases per day. Although fees for conversion are rather high ranging from 6%-8%, this is one of the only services of its type. Go and check out BitPlastic today!