Finding simple ways to spend cryptocurrency can be very difficult and complex task and even if a user find a platform where crypto assets can be utilized to acquire goods and services on every day basis, a client generally face delays and high transaction overheads.
A startup based in Sydney aims to change the status quo by providing a crypto debit card that permits Bitcoin and Ethereum to be utilized in any company or ATM in Australia. Unlike other preloaded cards, BTC.com.au says that its card can be acquired free of charge and clients do not have to shell out any fees when they complete it.
Cryptocurrency, which is loaded in the card, is also available for instant use, avoiding the irritating caution messages until the funds are clear. The monthly maintenance fee of $4.99 is reimbursed to customers who deposit $500 or more over a month, encouraging regular use. Likewise, regular Bitcoin card clients can prevent a $4 inactivity charge as long as funds are are added every few months in the card.
Danny Ariti, CEO of BTC.com.au, says his team was persuaded to build a platform for Australian clients who may not have experienced cryptography before they can easily integrate it into their daily lives. He further said that the Bitcoin card was more than expected–attracting casual crypto clients and professionals from 18 to 80 years of age.
A simple activation procedure occurs when a client gets his card and according to BTC.com.au, latest candidates can usually anticipate to collect their plastic the day they order it online. The maximum balance presently available on these cards is $999 and purchases can be made only in Australia.
Bitcoin and Ethereum prices attained dizzying highs concerning the end of 2017, but Ariti accepts that the fall in prices has empowered consumers to “enter the market at a price they feel comfortable with.”
BTC.com.au offers its users an easy and intuitive way to buy cryptocurrency, as it is difficult to purchase digital assets online for the first time. A partnership with the Blueshyft network allows users to purchase cryptographs in cash at over 1,200 retail outlets throughout Australia. POLi transfers also allow orders to be made using normal online banking services.
The startup also says that it opens new doors for people who want to pay utility bills or give money to people with cryptography. The BTC.com.au website allows users to settle accounts with operators who accept BPAY as a method of payment or transfer funds to friends and family in Australia with bank accounts.
In addition to being compatible with ATMs across the country, the BTC.com.au card can also be used at EFTPOS terminals — and more than 960,000 can currently be found nationwide, according to the Australian Payments Network. In combination with the 30.219 ATMs in operation as of September 2018, consumers can choose where, how and when to use their Bitcoin cards. It is expected that the product will be supported in the not too distant future by other cryptocurrencies.
The brokerage service at BTC.com.au is intended at people who want to acquire their first cryptograph without being weighed down by baffling and difficult- to- navigate trading platforms, where charts and complicated language all too often dishearten people from getting involved.
