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Bitcoin Debit Cards Cancelled – Update.

Is bank fear taking over in the Bitcoin world???

Today Visa cancelled with immediate effect all Bitcoin Debit cards (including mine through Spectrocoin), luckily I only had a balance of about 1 euro on it as I keep everything in Bitcoin. I received this email from WaveCrest who it appears supply Spectrocoin with debit cards. Spectrocoin has not actually posted anything on their site at all about it. (probably in a state of panic), when I went to the chat this morning there was over an HOUR to wait.

This thread on Reddit is being updated with people’s experiences, but it seems they supplied a LOT of debit cards to different Bitcoin-based organisations.

The following cards appear to be affected:

  • Xapo
  • Bitwala
  • TenX
  • Wirex
  • Cryptopay
  • Spectrocoin
  • Bitx
  • BitPay
  • and others.
Spectrocoin’s Website Chat is unusually busy.

This is a huge mistake in my view for Visa. They have basically opened the door for another provider to have a massive amount of business overnight. But who will take up the challenge? Mastercard?

I suspect that they will greatly regret this decision in the future.

 

 

Update: 17:35pm Spoke to Visa Europe they are not saying anything, no press release, nothing – disgusting.

spectrocoin crypto email

Going to try and get hold of a contact at Spectrocoin.

Spectrocoin has now sent the following email – so my advice is unloading your cards wherever they may be if you can. I did a bank transfer from Spectrocoin with no problem.

I note that they already have a card provider in mind and for me Visa have shown incredible stupidity by their actions and provided an opportunity for other card providers to take the market.

Good job Visa.

 

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