Bitcoin Is Back With New Way To Spend Its Digital Currency

Shopping via the internet is no longer a new thing but let me offer a reminder to people who use their credit cards for online payment that fraud cases is still a rampant thing so, please reveal your credit card information online only if the source is reliable. A whiff of anything else, use Paypal or a debit card. You can better control your funds with a debit card because payment will not go through if the funds aren’t there.

And speaking of debit cards, there was an announcement that Bitcoin will be launching a whole new line of debit cards that will come printed with a QR Code.

Sources have it that the QR Code will lead users to a confirmation page whereby the accountholder is given the chance to confirm that they are indeed the owner of the account and they are ready to make a purchase. This is a step up with signature and PIN confirmation, I guess.

But let’s just say that instead of turning the QR Code into merely a confirmation tool, it should also be a way for users to find out if they have enough funds to make the purchase too. One of the things about using a debit card (as opposed to a credit card where a blanket limit is applicable) is that sometimes we forgot how much money that we have loaded into the card. We could be walking past an aisle in the mall and suddenly see something cool that we might want to get. Instead of risking the embarrassment of being told that there is insufficient funds at the counter, why not scan the QR Code with your mobile phone and find out before walking up to the counter?

Many people continue to be quite conservative about logging into their bank accounts via mobile without an app that has been authorized by the particular bank because who knows who is lurking around the cyber corner, right?

It was reported that Bitcoin ran into some trouble many years ago because of security issues and it was unfortunate for the company that many fraudulent and ill-intentioned people manipulated loopholes within the system to conduct cyber crimes and fraudulent activities. Back in those days, even Paypal had problems keeping things in check and ran into troubled waters too.

With this piece of news, it could mean that the New York City-based company is far from throwing in the towel.