One of the main features of using bitcoin is that it is more cost effective solution compare to other payment systems. And in integrating bitcoin into the existing financial and banking systems, users are interested to know especially when it comes to certain charges that they will have to shoulder just to enjoy the features and benefits of bitcoins. Along with technological developments, bitcoin is also heading to more creative and innovative
CoinJar, owned by an Australian firm is now allowing their users to load and use their bitcoin balances. With their new pricing for new bitcoin debit cards, users can load and even spend their funds at any business connected to Australia’s EFTPOS debit network. The new debit cards were launched for trial last week and along with the launching is their announcement that there will be no charges like activation and load fees. There will also be no inactivity fees if the user opts not to use the debit card.
CoinJar is one of Australia’s bitcoin platforms where people can conduct bitcoin trades and other transactions. Through their platform, clients can enjoy a fast, efficient and secured way of converting their Australian dollars into bitcoin. To ensure customers’ security and privacy, the platform makes use of multi-factor authentication. This guarantees and protects clients from security breaches that can pose threat to the system. With the debit card, users can enjoy the features of bitcoin and use it anywhere and anytime they want as there are many businesses using the company’s merchant services from cafes to retail shops.
Other Costs for Users
Despite waving activation, load and inactivity fees, users will still have to shoulder costs. In getting the card, users will have to pay for the initial cost amounting to AUD$29. For every withdrawal made using the debit card, there is a charge amounting to AUD$2. But for withdrawals made in Coles or Wooldworths supermarket branches, there are no withdrawal charges. According to CoinJar, they want their users to experience using bitcoin for their convenience.
How to Load the Cards
Loading the new debit cards is easy. CoinJar has provided the complete information and details regarding the cars on its official blog. To load their debit cards, they can just access their CoinJar dashboards and select the balance in Australian dollars. CoinJar provides two options for loading the cards. Users can either opt for manual or automatic loading. For those who will opt to have manual loading, users can select the most favorable time and exchange. Automatic loading, on the other hand, users can set the minimum balance and once it is reached, an automatic trade takes place.
Diversifying the Use of Bitcoins
With the increasing number of people using bitcoins, they can even now use it in their daily life. The features of bitcoins can blend into the current financial systems according to Samual Tate, a representative from CoinJar. In fitting the features of bitcoins into current systems, users get to enjoy greater flexibility and efficiency. For one, using bitcoin offers faster and a more cost efficient alternative.