There is an important change in Bitcoin credit cards
Visa has suspended Bitcoin's credit card services due to its newly introduced restrictions on non-European residents. BTCC and Bitwala have also joined Xapo and Shakepay and have ceased their credit card services for users staying outside Visa's European payment network - read on coinbroker.com .
The China-based BTCC also announced that Mobi's application will be available later than Visa credit card services to non-European residents. Those who already have Mobi Visa cards will not be able to use it after October 15, 2017 (UTC).
German-based Bitwala reported a similar measure. The Canadian-based Shakepay has also made a similar appearance.
Visa has called on its financial partner to immediately release card issuers for non-European residents.
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Bitwala cards have always been used by the Visa network to provide global and continuous coverage for users. Due to the new regulations, Bitwala's credit card is only available to customers in the EEA and in the selected neighboring states.
Non-European residents, including European citizens who are currently not living in Europe, will no longer be able to issue a new Visa card from any of the above 4 companies.
Customers in the European area can continue to use their cards by uploading a certificate that they are in one of the countries that are supported. The process of identification also includes uploading the identity card and residence document - the article notes.
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They should be opening their markets not shutting them down.
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Are these cards only available in Europe? Are they similar to debit card rather than credit cards, meaning do you have to have bitcoins (in a wallet) in order to use them (like a debit card) or does the card allow you use them now and pay them back later (like a credit card). Sorry if my questions are naive but I just started learning about cryptocurrencies.