According to news website TechinAsia, 8pip, a Singapore-based company, has plans to launch what it claims to be the world’s first prepaid Bitcoin cards. The cards will be launched at Startup Asia Singapore 2014 on May 7th. They will also be brought to the first BOOST: Bitcoin Singapore event. In both events, the prepaid Bitcoin cards will be showcased for the first time.
8pip Prepaid Bitcoin Card Details
With prepaid Bitcoin cards, customers will be able to purchase bitcoins by simply buying a card. They can then go to the CardToCoin website in order to redeem the Bitcoin from the card. When the details of the card are typed in, the bitcoins will automatically be transferred to a customer’s Bitcoin wallet.
CardToCoin’s holding company is 8pip, and as such, it has plans to allow customers to redeem bitcoins from the card by an SMS command. This will help make Bitcoin easier to attain and use. In order to make Bitcoin transactions easier for the public, a company affiliated with 8pip, Coinpip, brought 37coins’ SMS to Singapore at the end of April.
The co-founder of both 8pip and CoinPip, Anson Zeall, believes that the current process of attaining Bitcoin is intimidating. He said,
“At the moment, Bitcoin or cryptocurrency exchanges are the most common ways to get Bitcoin. The problem is, unless you’re a seasoned stock trader, the process to get Bitcoin is still very complicated and intimidating.”
Therefore, Zeall believes that the prepaid Bitcoin cards will make Bitcoin more accessible to the public. He continues,
“With CardToCoin, you can simply buy a card with S$20 worth of Bitcoin and then redeem it online with your tablet, phone or PC.”
With this innovative idea, Bitcoin will indeed be more accessible to the general public. Customers will just have to make a Bitcoin wallet to store the coins and go to the CardToCoin website to redeem the bitcoins. They will not have to deal with buying Bitcoin at an exchange or from individual people. It is interesting to see that with Bitcoin, there has been an increase in innovative technology and ideas pertaining to the digital currency.