Bitcoin debit card providers are working hard to gain a foothold in the hybrid industry between traditional finance and digital currencies. Spending Bitcoin through traditional means is positive for both consumer and merchant, but that doesn’t mean it will be an easy victory. E-Coin, one of the leading Bitcoin debit card providers, has announced their crowdfunding campaign on BnkToTheFuture.
Make sure to read: Fintech Companies Leapfrog Banks To Offer Faster Payments
Acquiring Funds To Increase Global Availability
Even though the E-Coin debit card is a convenient way to spend Bitcoin at most retailers around the world, there are still some restrictions that apply. For instance, citizens of the United States are still not eligible to receive the E-Coin card, due to regulations prohibiting the Bitcoin startup from sending cards there.
Despite these restrictions, E-Coin has seen a huge international growth over the past few months. Countries such as Morocco are flocking to this Bitcoin debit card provider, as citizens are looking to circumvent tight government regulations. Bitcoin provides anyone in the world with an option to be in control of their own finances at any given time.
Now that E-Coin customers can obtain both physical and virtual Bitcoin debit cards, managing digital currency funds is easy and hassle-free. Furthermore, the E-Coin platform is simple to navigate, with no unnecessary bells and whistles attached. Last but not least, the company recently introduced an affiliate program, incentivizing users to spread the word about this service.
Thanks to their partnership with BitGo, E-Coin is able to fully secure all funds transferred to the platform. Additionally, the funds are protected by multi-signature security and insured by XL Group. Further improvements to the security aspect of the E-Coin service will be made over time as well.
Which brings us the equity crowdfunding campaign running on BnkToTheFuture right now. E-Coin is looking to raise €334,225 in funding over the next three weeks, which will help the company expand their global availability in the future. But that is not all, as the E-Coin team is open to supporting additional currencies as well. At this time, it remains unclear as to whether this means additional fiat currencies – most likely – or additional digital currencies.
Due to the equity crowdfunding campaign target, E-Coin will be “selling” 10% of the company in equity to investors. All investors will receive their share of this 10%, depending on how much they pledged to the campaign. At the time of publication, a total of €54,876 had been raised, with 21 days left on the campaign timer.
Cracking The Code To Bring E-Coin To The US
Assuming E-Coin reaches their goal on the BnkToTheFuture platform, one of the main concerns will be whether or not the company can start offering their card to US residents soon. According to a post by E-Coin’s Dmitry Lazarichev, the plan is to start shipping cards to the US very soon. He stated: “Unfortunately, we do not ship cards to the US as yet. However, we plan to do so by the end of the year.“
Whether or not US availability will depend on the success of the BnkToTheFuture equity crowdfunding campaign is unclear at the moment. One thing is for sure, though: E-Coin is looking to make their service available to anyone in the world and help increase Bitcoin awareness while doing so.
Source: Press Release via Email
Images courtesy of E-Coin, BnkToTheFuture, Shutterstock