Just last week Australia’s most successful Bitcoin exchange and payment processor, CoinJar, announced the launch of their Bitcoin debit card dubbed Swipe. This debit card gives users the chance to spend Bitcoins they have in their CoinJar wallet at any merchant in Australia’s extensive EFTPOS electronic debit network. Users can also convert Bitcoins from their CoinJar balances to Australian dollars. Now, the company has announced the price of their debit cards.
Even though CoinJar promised there would be “no activation fees, no load fees, no conversion rates (subject to CoinJar Fair Rate policy), [and] no inactivity fees”, users will still need to cover some expenses. The initial order of a Swipe card costs AUD$29 ($26). Moreover, cash withdrawals from ATMs on Australia’s ‘Redi-ATM’ network will cost AUD$2 ($1.78) fee. However, this fee will not apply when users use their card to withdraw cash from either of the nationwide Coles or Woolworths supermarket chains.
As of now, CoinJar has released close to a hundred of their Swipe debit cards to users who are in their early access program. The company is putting off the $29 initial fee during this trial period.“CoinJar will be absorbing these costs because we want our users to experience the power of bitcoin and spend it freely,” according to a statement.