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May 29, 2015

BitStamp launches new prepaid card

BitStamp, a Slovenia-based Bitcoin exchange, has unveiled new prepaid card that can be either virtual or physical and loaded with Bitcoin.

By Verdict Staff

BitStamp, a Slovenia-based Bitcoin exchange, has unveiled new prepaid card that can be either virtual or physical and loaded with Bitcoin.

The prepaid cards program has been launched in partnership with payment processor Astropay.

The card will be accepted by any business that accepts major credit and debit cards and will be denominated either in British pounds, euros or American dollars.

The card has three different stages of verification, each with its own spending limit. The first stage does not require know-your-customer verification and allows for €2,500 worth of transactions annually. The other stages require government ID, proof of residence, and a certified source of funds document for annual spending limit of €125,000.

With this card, users can transfer funds from a BitStamp account to the card at a $10 flat rate for transfers of $1,000 or less. However, a 2% fee will be charged for transfers above $1,000.

Additionally, cardholders will be able to edit their details, view transaction history, retrieve their PIN, order new cards and report lost or stolen card at their control panel cardportal.com. The new cards are not currently available for US citizens.

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