Jan 162017
 

Spectrocoin review
This SpectroCoin review will dive into the features of SpectroCoin that make it stand apart – ability to hold multiple currencies, and use them to buy Bitcoin, and also its Bitcoin Debit Card which is as versatile as it gets when you want to use your Bitcoin to shop everyday. As Bitcoin expands in scope and use, there are many services that allow you to buy Bitcoin, sell Bitcoin, hold Bitcoin, and spend Bitcoin – essentially all the functions that you’d normally do with your own money. However, what makes SpectroCoin stand out is that it is able to do all these functions and more in the simplest way possible.

As a reminder, we do not recommend holding significant amounts of Bitcoin in any online wallet or service, even SpectroCoin. If you’re holding for the long-term, you should buy Bitcoin, and transfer it to a wallet whose private keys you control. If you hold significant amounts of Bitcoin, we strongly recommend getting Bitcoin hardware wallets.

Now let’s dive into the SpectroCoin review.

Note: This is a sponsored review by SpectroCoin.

Multiple Currencies to Buy and Sell Bitcoin

SpectroCoin allows you to hold multiple currencies. This is a feature severely lacking in many other Bitcoin services. Even the most popular of all, Coinbase, won’t allow you to hold multiple currencies. At SpectroCoin, you can hold US Dollars, British Pounds, and Euro. This is important to me, as it reflects the global nature of Bitcoin. It is also common in Europe to have multiple currencies (GBP and Euro, for example) and bank accounts with multiple currencies.

Spectrocoin accounts

Once you fund your account with USD, GBP, or Euro, you can buy Bitcoin or sell Bitcoin directly from the interface. The price is competitive and updated real-time. You will know the price when you’re buying or selling.

Buy Bitcoin SpectroCoin

Selling Bitcoin is very similar as well. If you’re depositing government currencies (USD, GBP, Euro), you need to fill in the profile with your personal details. This is actually a very good feature – you can register for SpectroCoin without providing identifying information. You only need to give this information when doing specific tasks like buy Bitcoin from the interface. This is a good privacy feature.

To transfer government money into your account, you can use a debit card, a credit card, or use a bank wire. SpectroCoin is one of the few ways you can use a credit card to buy Bitcoin.

Multiple Countries

SpectroCoin supports more countries than most other services out there. Remember though that the currency options are still limited to USD, GBP, and Euro. However, someone from Algeria or Qatar can still buy Bitcoin from SpectroCoin. You can see the list of all supported countries here. Again, if you’re in the US or Europe, you can probably use Coinbase, but outside of that, such services are limited. SpectroCoin is as good an option for US and Europe as it is for the rest of the world.

However, do remember that SpectroCoin will comply with EU regulations irrespective of where you’re physically located. This means you may be asked for state-issued identity, like a passport, to use some of the services like buying or selling Bitcoin, or transferring funds.

Bitcoin Debit Card to Spend Bitcoin

This part of the SpectroCoin review is for its debit card service. It is one of the few issuers of global Bitcoin debit cards. You can use the SpectroCoin debit card to shop regularly, or to withdraw cash at ATMs. If you hold Bitcoin in your SpectroCoin account, then they will automatically sell Bitcoin when you make a purchase with your SpectroCoin debit card.

Spectrocoin debit card

If you want to use the Bitcoin debit card, you should know about the fees. They charge $1 a month as service fees, and $9 shipping fees. There are other fees like conversion and forex fees. You can see the full set of fees here. A Bitcoin debit card is a great way to spend Bitcoin. You can also use the debit card to get cash out of ATMs globally, although I find the fees to be high.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Dec 302016
 
Diversifying your Bitcoin Wealth into Real Estate

Full Disclosure: I am currently a customer of HomeUnion and they have agreed to waive 3 months of management fee for this article. The views expressed are my own though. Bitcoin price has been on a tear this year, with the total market capitalization reaching an all-time high and the price flirting with the psychologically […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Dec 232016
 
Alternatives to Circle to Buy Bitcoin

We covered earlier this month that Circle ended support for buying Bitcoin. Since then, we’ve gotten a lot of queries about what the best methods to buy Bitcoin are. This post is to give you alternatives to Circle to buy Bitcoin that are as convenient as Circle (actually, Circle was really good and convenient to […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Dec 102016
 
Andreessen Horowitz And Union Square Ventures Invest in Ex-Coinbase Employee's Digital Assets Hedge Fund

‘Digital Asset’ trading is set to enter the mainstream financial industry with Polychain capital raising $10 million from venture capital firms Andreessen Horowitz and Union Square Ventures. The hedge fund, Polychain capital, is run by Olaf,the first Coinbase employee who quit earlier this year to start his own venture. The round is the first venture […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Dec 072016
 
Circle Ends Support for Buying Bitcoin

In a major blow to the way Bitcoin enthusiasts can buy Bitcoin, Circle, one of the best funded venture capital firms in the space has decided to end the ability to purchase Bitcoin through its service. Instead, Circle is referring customers and potential customers to Coinbase, once considered its competitor. Thus, Coinbase has become the […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Dec 062016
 
The IRS Moves in on Bitcoin Users

The U.S. government has always taken a somewhat hands-off approach concerning Bitcoin. With some countries around the world flirting with the idea of recognizing Bitcoin as legal tender, or officially adopting it, U.S. financial regulators instead classified the cryptocurrency as a commodity. This means that it’s viewed in a similar way to a stock or […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Nov 202016
 
Dividend Paying Cryptocurrencies: The Ultimate Guide

Dividend paying cryptocurrencies are becoming a dominant, emerging trend. Crypto-investors should be aware of their dynamic, and how they can enhance returns. Given their similarity with dividend-paying stocks, we can look at historical data and models from the stock market to try and make predictions on how the dividend paying cryptocurrencies will or could evolve […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Oct 252016
 
In Bitcoin, Who Pays for Transactions?

In Bitcoin, who pays for transactions? In every Bitcoin transaction, there are two parties, the sender and the receiver (technically, it is possible to create more complex transactions types but we’ll ignore all that for now, and assume a Bitcoin transaction as a simple financial transaction between the sender and the receiver). There is also […]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS