The modern banking systems have interesting uptake of technology, clients no longer need to go through the old hard ways anymore.
About – Bitcoin Zar
In the vast world, software engineers have made it look so small with their inventions.
The development of bitcoins was much a shocker to many people, but the massive uptake from the younger generation has made it more acceptable. Bitcoin Zar brings you access to bitcoin credit cards. Also, giving you more ability to use your much-valued crypto-currency in South Africa and anywhere across the world.
The credit cards are a great way of escaping the doubts that most people have about the usefulness of bitcoins in South Africa.
WHAT ARE BITCOINS?
For most people, the word bitcoin might be another software-tech jargon which they never intended on knowing. In simple terms, bitcoin is a global currency, one of the most widely used of currencies without borders.
The bitcoin does not have a physical structure; it works in transfers just like Pay-pal. An applicant will need to open a bitcoin account and load it with any currency. There they can be paying other users and also get paid in the same way.
Bitcoin uses secured and advance technology of cryptosystems which will allow no-one to steal funds from your account. This is how modern banking and finance systems are working.
WHO ISSUE BITCOIN CREDIT CARDS?
The bitcoin credit cards are specialised credit facilities that are issued by two of the largest and most common credit card companies in the world, and these are Mastercard and Visa.
The bitcoins have over the prior periods increased their uptake by South African communities, and this has populated the Bitcoin credit cards.
As we all know, a service from Visa and Mastercard are the best, and there will be no need to worry when one holds the card.
WHERE DOES THE BITCOIN CREDIT CARDS WORK?
In South Africa, the bitcoin credit cards are one of the most widely accepted credit cards. The fact that Visa and Mastercard underwrite bitcoins, it makes them have the most comprehensive coverage.
On all till points and point of sale machines that accept Visa and Mastercard, the Bitcoin credit cards will work as well. The user of Bitcoin credit cards also has a significant advantage of international acceptance.
Whether you need to take a holiday or a business trip. The Bitcoin credit cards will help you to navigate the world from all corners as it has a broad international acceptance.
HOW IS THE CREDIT CARD LOADED?
In South Africa, our banker loads our credit cards, and so we make repayments with the same bank.
Visa and Mastercard load the Bitcoin credit cards on behalf of the Bitcoin company. The applicant will access funds based in international currencies like the US$, British Pound and the Euro. Visa and Mastercard will provide credit that suits your credit history based on your Bitcoin account history.
Applicants will not need to worry about funding since the Bitcoin has the most significant value on currencies. Besides, giving the cardholder an exchange rate advantage on all the times they want to shop.
WHAT ARE THE CHARGES INVOLVED?
Similar to all other credit cards that South Africans access within the nation, the bitcoin credit cards come with initiation fees and service fees.
The initial card will cost applicants a minimum of US$ 50, the money which will be paid directly from your bitcoin account or online payment from your current bank account.
The service fees come in variable amounts on a monthly period depending on the size of credit and ranges that a client is granted for. The credit card will also have a 60-day interest free grace period which allows applicants to use the money without interest charges.
CAN ONE WITHDRAW MONEY WITH THE BITCOIN CREDIT CARD?
The bitcoin credit card will allow users to make cash withdrawals at any till or cash points that accept Visa and Mastercard in South Africa. The credit card will give access to both foreign currency and the local currency depending on what the client needs.
When one wishes to withdraw cash from a till point, an equivalent of US$ 400 can be given at an ATM daily, this amount will be released in local currency.
The machine will make a quick conversion for the amount that the client will be looking to get using the prevailing rate to calculate your cash equivalency.
HOW TO GET THE BITCOIN CREDIT CARD?
The easiest way of obtaining a Bitcoin credit card is by first opening a bitcoin account, one that you normally do transactions with in order to create a banking history.
As a Bitcoin account holder, the applicant will need to submit their personal identification documents and contact addresses and relevant credit card requests. When the credit card request is approved, the applicant will be sent with the card via airmail and courier delivery.
In this way, you would have gained your way to a borderless credit transaction facility.