CCEDK brings instant bitcoin-to-fiat spending with NanoCard

Tuesday 19 May 2015

Danish exchange CCEDK will soon offer the Bitcoin Debit NanoCard, enabling crypto holders to spend bitcoin balances without exchange risk.

CCEDK has come up with a game-changer in the bitcoin world: a debit card that doesn’t just accept bitcoin transfers, but that is linked to an exchange account and enables users to spend their online bitcoin balance. The service has huge potential to disrupt the money transfer industry thanks to the low fees and real-time nature of transactions.

As the one of only two exchanges in the world to offer this service, CCEDK is trailblazing a new approach. Unlike a prepaid card, balances will be available in Dollars or Euros and funded instantly by the crypto balance of each customer. The NanoCard is a universal card, though so far CCEDK and Bit-x are the only two exchanges to have passed the audit and who are able to offer it.

Card

The Bitcoin NanoCard: spend your bitcoins instantly

‘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 like this – perhaps the cryptocurrency community’s first true crypto debit card 2.0, issued by major card providers and banking partners’, says CCEDK CEO Ronny Boesing.

Versatile, global, anonymous

The card can be used to pay for goods and services anywhere in the world, for shopping online or to withdraw money from an ATM. Customers can spend BTC and, in future, other currencies directly from their CCEDK wallet.

No verification is necessary to begin using the card, allowing anyone who prefers to be anonymous to have access to the service – though user verification will enable higher limits. The critical feature is that the card works automatically: it does not need to be funded manually, so there is no risk of exchange rates changing between transfer and receipt. Funds are taken from the exchange wallet at the moment of use.

Acquiring the card

The Bitcoin Debit NanoCard is expected to be available from June. Acquiring one is straightforward:

It is also possible to sign up for the card and receive more information by going directly to www.ccedk.com/nanocard. There will be no monthly fee and the card will be FREE to use for the first 10,000 customers.

Altcoin support

At first the NanoCard will only support bitcoin, but CCEDK plan to implement further cryptocurrencies as there is demand – including NuBits, BitUSD, NXT and LTC. In the meantime, other coins can of course be exchanged for bitcoin on the exchange, to be used to fund the NanoCard.

The move reduces the friction of going from crypto to fiat, enabling seamless transactions in fiat from customers’ crypto balances. Further fiat-pegged currencies like BitCNY and BitEUR may be added in the coming months.

Money transfer services

CCEDK’s innovation has the potential to upend the money transfer business, especially in countries like the Philippines, Mexico and Vietnam, with their millions of ex-patriots. Now, these people need no longer use services like Western Union, with their poor exchange rates and excessive transfer costs, to send money to their loved ones. Instead, they need only to send a Bitcoin Debit NanoCard, which will allow them to pay in stores or cash out money whenever they need it. The bitcoin or fiat-pegged crypto balance is exchanged only when the card is used at point-of-sale terminals or ATMs – not before, not after, but instantly at the moment of transaction.

As a promotion, CCEDK will offer commission-free trading for the next three months on four currency pairs: BTC/DKK, BTC/EUR, NBT/BTC and FimK/BTC. The platform is available in 17 languages, including Chinese, French, Italian, Spanish, Russian, Romanian and Polish.

Cards may be bought directly from Bit-x now if you cannot wait. Bit-x is an online system used for automated cryptocurrency and mining capacities trading. Without their partnership CCEDK would have been unable to offer this exciting new facility.

This article was sponsored by CCEDK

 


comments powered by Disqus