What is SpectroCoin?
SpectroCoin is a London-based business that was founded in 2013 by Vytautas Karalevicus, Justas Dobiliauskas, and Mantas Mockevicius. The three founders applied their particular backgrounds in software design, worldwide service, and cryptography to develop their Bitcoin card in 2015. Today we’re going to have an appearance at how their card compares to a few of the other we’ve examined.
The SpectroCoin card
SpectroCoin supplies users with a Bitcoin wallet, an exchange to trade on, and a card to invest with. But SpectroCoin provides a bit more than your typical Bitcoin Card issuer. They likewise deal with services in a manner the majority of their competitors does not. Merchants will be happy to know that they can accept Bitcoin as payment when using SepctroCoin. Business users will be provided with options to use e-commerce plugins and databases. The card itself works much like any other Visa or Mastercard. It can be utilized anywhere those payment cards are accepted. Any cryptocurrency on the card can quickly be transformed into USD, GBP, or EUR and invested in stores. Cardholders can likewise use the SpectroCoin card in ATMs worldwide.
Shipping and security
The card is shipped worldwide totally free and takes a few weeks to show up. You also have the alternative of paying $75 for express shipping and get the card in less than a week. SpectroCoin has an app to opt for the card. It permits you to access your wallet and see your available money. The app is available for both Android and iOS. SpectroCoin does ask users to validate their identity with a passport or driving license along with a proof of address. That implies there is a stronger focus on security than on user anonymity. The protection is excellent, nevertheless. You can allow two-factor authentication to include an additional layer of protection.
Particular limitations apply when you want to use the SpectroCoin card. The first limitation is that you can hold a maximum of $10,000 at any given time. You can withdraw loan from ATMs twice each day and for an optimum of $2,000. There are no such limitations on utilizing the card in-store or online, however. It’s simple to load money onto the card. SpectroCoin is quite flexible in this regard. You have the option of receiving funds from a savings account and payment services like PayPal.
Benefits of SpectroCoin
SpectroCoin covers the whole world, which is excellent news for all the countries not covered by other cards. Not lots of utilizing Windows phones anymore, SpectroCoin still caters to Windows users. There is a separate business card available for services, which is unusual in the Bitcoin card area.
Drawbacks of SpectroCoin
If you can’t wait 3-4 weeks for the card to arrive, then you can use the express delivery — but it’s expensive. In addition., SpectroCoin charges quite a lot for users who want to withdraw their Bitcoin.
The physical SpectroCoin card will set you back $9, and the virtual card costs just $0.50. There is an extra fee of $1 per month of use. It’s complimentary to load cash onto the card if you’re using bank transfer or another SpectroCoin account. It becomes pricey if you wish to use any other technique. Loading the card with cash costs 5% of the total amount. Bitcoin deposits will cost you 0.5%. When you use the card for ATM withdrawals, it will add a flat rate of $2.5 domestically and $3.5 internationally.