The Xapo service is one of which I use occasionally when I want to spend some Bitcoin "in real life". The service provides a prepaid VISA card with a bonded Bitcoin wallet to spend your cryptocurrency on products or services like any other card.
By the way, in our video "I lived with Bitcoin for two weeks" I gave the example of how to do it. An interesting curiosity is that the lunch I made to record the video at the time cost me 30 €, now worth almost 100 €. Past waters … I want to believe it!
See also: Forget Bitcoin! Here are 6 cryptocurrencies you need to know!
Xapo today sent an email to all its users indicating that all their cards have been deactivated by their service provider (Wave Crest Holdings, Ltd). This has affected not only Xapo cards but also all other Wave Crest Holdings VISA cards.
Xapo cards gave the possibility to spend Bitcoin in a simple way.
This has left thousands of users unable to spend their rich Bitcoin on products and services. Xapo said in its statement that it is aware of the problem and wants to resolve it as soon as possible.
Xapo users will not have to pay for a new card once the service is restored. You will only have to apply for the new card and it will be shipped anywhere in the world at no extra cost.
"We are working to find alternative solutions for you. Recent years have shown how powerful a cryptocurrency payment card can be. We are already in talks with potential card issuers, allowing Xapo to continue to serve customers in Europe and beyond. "
As a thank you for being a loyal Xapo customer, once we can get back to Xapo Cards in your country, we offer you a new card for free."
If you had Bitcoin in your wallet don't worry because you will still have the value. You just won't be able to spend it the same way. There are still no dates for solving the problem, but I don't think it will be long before it is resolved. Until then you have services like TenX that gives you an identical solution.
Relevant subjects at EBox:
Cryptocurrencies – The Barbarities of the Former Finance Minister's Words
FunFair – Cryptocurrency wants to make online casinos safe and reliable
How to buy Bitcoin by debit / credit card