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Bitnation.co Debit Card Review

Bitnation.co Debit Card Review

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Bitnation is the world’s first virtual nation based on the decentralized blockchain technology. As every nation on the blog, Bitnation also have it’s own currency, Ethereum and offers bitcoin based debit cards for its citizens under Wirex’s platform.

Bitnation header

About Bitnation

Bitnation launched in 2014 and has raised over 100 000 USD in seed founding so far. The project has been founded by couple of cryptocurrency individuals who want to transform the way we see governments and administration in the future. They have a very diverse background.

Bitnation logoJames Fennell Tempelhof and Susanne Tarkowsi Tempelhof are one of the founders who have thorough experience in conflict zones such Angola, Zimbawe, by way of Somalia, Rwanda, Bosnia, Kosovo, Congo and Afghanistan among many others.

Arlyn Culwick from South Africa believes in cultural renewal, he has many philosophical researches about business initiatives.He is a core member of Blocknet. Previously he had experience at various South African companies such as wiGroup and Proponent as a developer.

Erik Vollstadt from Spain is reponsible for the marketing of Bitnation. He has been working as a marketing and communication specialist for couple of German firms during the past years.

Bitnation on Social Media

Services Provided

Bitnation wants to raise governance to a completely new level. They offer public notary services and world citizen IDs for those who join the framework. Constant education is provided for everyone about the blockchain technology and cryptocurrency economy. The cryptocurrency mining can provide anyone a basic income and financial insurance. They have an ambassador network across the globe who promote the Bitnation services to more and more people.

Bitnation lawThe bitcoin debit cards helps the Bitnation citizens to free themselves up from their own government’s regime and be able to spend cryptocurrencies online and offline for goods and services.

Bitnation offers it’s bitcoin debit card through Wirex platform. There is no difference in the associated services compare to the original Wirex card.

The Mastercard and VISA issued cards are available in USD, EUR, GBP currencies. Clients can choose from physical plastic cards and from virtual cards. The cards arrive within 8 weeks, depending on the location of the order. The Wirex cards are available for 130 nationalities worldwide. The shipping price is included in the price of the cards. Clients can also reach the wallet from smart phone apps in the Android Google Play and in the iOS App Store.

Bitnation card projectThere is possibility to buy an anonymous card if clients do not wish to disclose their identity. In this case however the applicable spending thresholds are lower compared to the ones that can be obtained after verification. In order to verify their identity, clients must provide a identification document which has a photo and a proof of residence that is newer than 3 months. Verification process takes 7-10 working days when the bank is validating the provided details. All private data supplied to Wirex platform is handled according to international bank rules ensuring the customer information is kept securely.

To fund the account, direct bank wire transfers are available as well as clients can top up the cards with the services of alternative payment providers for an extra charge.

Bitnation securityBitnation is working on introducing a branded card for their own customer base but it is not yet available at the moment. They are referring clients to the Wirex platform to sign up for the bitcoin debit card and start enjoying the benefits of fast and easy blockchain payment right away.

There are several side projects running under Bitnation platform. They issue their own citizenship ID, they are running a refugee emergency response system. The Bitnation ambassadors are reachable in 100+ countries worldwide. The Education network aims to spread the knowledge about cryptocurrencies and blockchain technology to as many people as possible. The Bitnation Space Agency program is currently working on balloons, rockets and drones, with tools available at people’s home for broadcasting and blockchain distributions.

Wirex bitcoin debit card

Fees and Pricing Schedule

The terms and conditions and the pricing of the bitcoin debit card at Bitnation are the same as offered by Wirex.

Bitnation logoThe physical card is issued for a one time price of 17 USD, the virtual card costs 3 USD. There is an additional monthly account management fee that is payable even when the card is not used or inactive for months. The direct bank transfers costs 3 USD per top up transaction. The loading with alternative payment providers costs about 2-3% per transaction plus minimum fees.

The limits of the cards are maximized in 2500 USD per single transactions. Users can withdraw cash two times a day in the amount of 2000 USD per day. There is no limit however for online purchases or offline shopping at point of sale terminals. Also unlimited amount of cash can be withdrawn during the lifetime of the card.

For further details check out our Wirex review.

Bitnation User Experience

Bitnation has a professionally built website about the services provided. There are plentiful details about their project and about the blockchain technology that lets users to gain information about the cryptocurrency world. They describe how cryptocurrencies work and what are the benefits of the blockchain technology.

Bitnation socialThey list several projects that are connected to the cryptocurrency universe and serves as proof-of-work. They operate as a DAO – decentralized autonomous organization, or as they call themselves – Decentralized Borderless Voluntary Nation, where all the project proposed are decided all together with the community. Project proposals are welcomed in the topic of local and global governance as well as infrastructure related ideas. Everything is decided decentralized with the help of the Ethereum network.

They also provide the details of the bitcoin debit card that is issued by Wirex. The pricing structure and the terms and conditions applied are the same.

Overall Conclusion

Bitnation wants to transform the governance through the distributed ledger technology. Their service is focusing on blockchain based solution for decentralized governance. The bitcoin debit cards they offer is provided by Wirex.

Pros:

  • all major currencies as USD, EUR and GBP are supported
  • free world wide shipping
  • wallet is available for Android and iOS

Cons:

  • Bitnation does not have it’s own bitcoin debit card, but offers a card through the Wirex platform
  • US citizens excluded
  • The support didnt answer our requests at all – crappy customer service.
  • verification time is long
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