Prepaid card launched for bitcoin

Toronto-based Prepaid Bitcoin may have rolled out the first prepaid card that allows users to transact using bitcoin. Users can purchase cards for $10, $25, $50 and $100 and receive bitcoin based on the exchange rate of the dollar to bitcoin. "For instance, if the Bitcoin current market price is $500, a $25 Prepaid Bitcoin card would hold approximately 0.045 BTC," the company said.

Josh Agho, founder and Chief Executive Officer at Prepaid Bitcoin, stated that the goal of the company is to expand the bitcoin marketplace by opening it up to average consumers. In order to do that, Prepaid Bitcoin is reaching out to merchants to offer its cards in their stores.

"We have an attractive revenue share model for retailers and distributors," Agho said. "Bitcoin is in very high demand, and bulk Prepaid Bitcoin cards give retailers an easy way to provide it to their customers." Prepaid Bitcoin is offering BTC cards to retailers in quantities of 10, 100 or over 1,000.

The company is a sponsor of a bitcoin conference to be held April 7 to 8, 2014, in New York City and will be exhibiting at The Toronto Bitcoin Expo on April 12 and 13.

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