Bitcoin credit card to let users withdraw cash

One Per Cent: Bitcoin credit card to let users withdraw cash

Bitcoin credit card to let users withdraw cash

(Image: OJO Images/Rex Features) Those with funds in the online peer-to-peer currency Bitcoin may soon be able to withdraw real-world cash directly from an ATM. Charlie Shrem , the co-founder of BitInstant, which lets users convert Bitcoins (BTC) into cash, appears to have confirmed today that a standard credit or debit card will be made available to Bitcoin users at some point in the next two months. BitInstant is well known for facilitating transactions between virtual Bitcoin and government-approved currencies, but an ATM-withdrawal mechanism would be an unprecedented step towards bridging the two worlds. In an online chat with the technology blog Coding in my Sleep , Shrem revealed that BitInstant would be partnering with an unnamed international bank to make the card usable worldwide. Although the first 1000 cards will reportedly be given away for free, Shrem estimate...

Full article: http://www.newscientist.com/blogs/onepercent/2012/08/bitc...

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