Danish cryptocurrency exchange CCEDK officially announced they launched a Bitcoin Debit NanoCard. So, what’s so special about it, you will ask us probably.
Well, you should know that this is the very first Bitcoin bank card that is fully compliant with EU financial regulatory bodies, and is covered by anti-fraud programs. With the help of this card its holders will be able to make multi-coin fund withdrawals from the exchange to ATMs and shops/merchants accepting NanoCard payments all over the world.
With CCDEK’s card, however, clients cannot retain the level of anonymity and personal data security they can enjoy using similar BitPlastic cards. Nevertheless, CCDEK’s creation has some strong points, one of which is its fraud protection. The thing is, every single transaction performed by a CCEDK customer is regulated in compliance with several security programs: AML – ‘anti-money-laundering’, CTF – ‘counter-terrorist-financing’, and KYC, which stands for ‘know your customer’.
Besides that, card holders get access to a set of options and functionalities which includes unlimited withdrawals (additional verification with CCEDK and intermediaries might be required), and possibility to make transactions in cryptocurrencies other than bitcoins (also known as altcoins).
According to CCEDK themselves, “the Bitcoin Debit NanoCard will only support bitcoin, but CCEDK plans 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”.
CCEDK’s customers will start receiving their first Bitcoin debit cards in June 2015. A multi-level program for users making POS (point-of-sales)purchases is established, with Level 1 users being able to spend €250 euros every year. Certain additional services are available for extra fees.