Circle is an app that some analysts believe has the potential to bring Bitcoins into the mainstream financial world, especially now that Circle allows users to buy Bitcoins with Visa prepaid cards.
Bitcoin users have been raving about Circle since it entered the market because the app has seemingly solved the problems that similar programs have had with Bitcoin conversions and general usability. Now that people can use a prepaid Visa gift card to buy Bitcoins, Circle can reach out to unbanked Americans who may have otherwise hesitated to use their services. Customers do not necessarily have to link their bank accounts or credit cards to Circle, which means they can remain rather anonymous in their purchases.
Coinbase is another popular Bitcoin distributor, but in order to buy BTCs from Coinbase, users have to link their bank account or credit cards to their account. They do not have the option of loading money with a prepaid card. This limits the number of people who can use the service.
With the use of prepaid gift cards, Circle is able to restore the anonymity to Bitcoin users, one of the original appeals of the cryptocurrency. If a user has to link a bank account to his Bitcoin account, he is likely to feel like he is giving up too much information. Circle’s new program acts as a safe option for those who prefer to keep their financial details a secret, and so far, it has been well received.
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