Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

Must Read

Oindrila Banerjee
Oindrila Banerjee
A English Literature student, love reading books, love literature and history, and enthusiastic about travelling. She likes to read random pieces of information and like watching films. She likes how refreshing it is to learn something new everyday. Her goal is to earn enough to take a trip round the globe.

Bitcoin users of Europe face trouble as Bitwala, Cryptopay, Wirex, and TenX suspend their services today. The move comes as a result of actions taken by Visa Europe against WaveCrest, the presumed card issuer for the above-mentioned pre-paid crypto debit card providers.

Bitcoin is a cryptocurrency that came into existence in 2009, becoming the first decentralized virtual currency. Companies like Bitwala and TenX allow users to use cryptocurrencies for traditional transactions by providing them with debit cards primarily issued by Visa or MasterCard. Such users often replace traditional currencies with cryptocurrencies for their day-to-day expenditure. Thus, the company’s move of the terminate WaveCrest’s membership has left thousands stranded without funds.

Also Read

In a statement issued by Visa Europe, the company has confirmed its move to terminate WaveCrest’s Visa membership due to continued non-compliance with their operating rules. While Visa Europe assures that the move has been taken against one company, and it is not an attack on the general idea of cryptocurrencies, Bitwala has the following to say about the move:

“The decision also symbolizes that Visa, and by proxy other traditional finance corporations, is not willing to service the growing crypto economy. This, in turn, motivates us to proceed further with our vision of building a crypto first bank which provides a bitcoin debit card with uninterrupted service.”

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Users who have received emails from WaveCrest say that the emails have confirmed that while the users’ funds remain safe with the digital wallet providers, their WaveCrest-issued card will no longer be functional as Visa suspends the cryptocurrency card. In tweets posted, the card providers have assured their users that they are arranging emergency meetings and are trying their best to find a speedy solution to the problem.

Save up to 60% on OptinMonster

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -