Bitcoin gift cards to go on sale in Edmonton

by Stephen Hui on January 13th, 2014 at 4:02 PM

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In Vancouver, the easiest way to get your hands on bitcoins is to head down to the world's first such ATM at Waves Coffee House (100-900 Howe Street).

East of the Rockies, people in Edmonton will soon have another convenient way to obtain some of the digital currency: a Bitcoin gift card.

Today (January 13), Alberta's Bitcoin Ventures Inc. announced the launch of CoinTap. The card will debut on Wednesday (January 15) at Remedy Café (10279 Jasper Avenue) in downtown Edmonton.

"CoinTap is the first Bitcoin gift card ever to go on sale in retails stores in Canada," company president Ashley Fulks said in a news release.

Selling for $55.50, one of these cards will get a holder $50 in bitcoins (at the market rate) when it's redeemed on the CoinTap website. Bitcoin Ventures plans to limit redemptions to $1,000 in cards per day.

The company's release states: "Bitcoin is a payment network that runs on the Internet. It generates and uses bitcoins as a currency, which can be exchanged for Canadian dollars, Euros, Rubbles, gold or virtually any other kind of money."

One bitcoin was trading for US$923.10 on the MtGox exchange at time of writing.

Comments

5 Comments

Hank

Jan 14, 2014 at 9:51am

Real estate, Bitcoin ATM's,Ingame payments even lemonade stands and now giftcards!... there have been a lot of great development for bitcoin that help boost the Bitcoin ecosystem. Unfortunately people generally don't really understand the basics of bitcoin.

For everybody who want to practice with bitcoin, at the following website you can receive free bitcoins:

http://freebitco.in/?r=202775

All you have to to is fill out your bitcoinadress and create a password, there is no registration procedure. You receive free bitcoins every hour in some sort of lottery (up to +- 0.2 btc!). They really pay out. The fun part is that you can useyour winnings to play higher/lower to win additional coins.

blah

Jan 14, 2014 at 1:29pm

Duuhhh.... $55.50 for a card that gets you $50.00????? another internet scam going down the drain.

Blast

Jan 16, 2014 at 5:42am

With the variations in Bitcoin prices right now you can make a mint if you have any idea on buying low and selling high. Buy bitcoin at 800 in the am and sell at 1000 at night, 25% on the dollar and taxation doesn't apply....Duuuhhh

Guys like blah in the previous comment are the guys who aren't smart enough to make it in this no brainer "challenging" world LOL. Good on these guys and everyone trying to make bitcoin more accessible, the ATM's and gift cards are a great idea.

Savie

Jan 16, 2014 at 10:09pm

great idea for regular folks. GO CoinTap and Bitcoin! Blah is a clown who has obviously never bought Bitcoins.. there is always a fee to buy them. The cost to get money into the exchange, then the exchange margin.