Crypto Private Investors Group (CPIG) is set to launch the first bitcoin and cryptocurrency credit card in July this year.
The first 1,000 applicants will be able to take advantage of a limited edition card where all transactions fees, with exception of the annual fee, are waived. The new card can be used at ATMs worldwide.
CPIG said that CoinCard Basic will work as a debit card, while CoinCard Elite will operate a higher utility, lower fee debit or credit card.
Both the CoinCards can be used wherever MasterCard is accepted and will also include all insurance, warranty and affinity programs.
Additionally, CoinCard can also be used to either pay down revolving balances or used as a debit card drawing on the cryptocurrency accounts of its user.
The CoinCard Basic and CoinCard Elite will charge an annual fee of $50 and $100 respectively.
Using the reloadable CoinCard, user can load their card from anywhere in the world using cryptocurrencies or altcoins including Bitcoin, Paycoin and many others.
CoinCard Elite will allow customers with credit lines extended to use their cryptocurrency to pay down their extended or revolving credit.