Circle.com went public with their bitcoin wallet service today after a much anticipated invite only “beta test” period. The anticipation has been mostly around their ability to offer bitcoin purchases to individuals internationally.
1) Its easy. Registration is a snap. We were not badgered for information and verification. We added our email, cell phone, name and password. The phone was used to implement 2 factor authentications by default…a nice touch! If you don’t want to give out your phone number you had the option to link google authenticator as well.
2) Its Secure. Any money you deposit with circle is insured!
That’s right, it doesn’t matter where you are located if you are keeping your bitcoins with circle you can rest easy knowing they’ve gone to great lengths to protect your interests.
3) Credit Cards Accepted! This is the most important feature set. International card holders can now buy bitcoin instantly with their credit card. Current Limitations show you can buy up to $500 per week but this limitation is expected to rise in the coming days. We tested it out ourselves and from registration to purchase it took us 2 minutes to make our purchase. The fees charged for credit card processing can’t be avoided but it was transparent and for our mastercard came to about 3% Not bad at all! The spreads looked very reasonable as well.
Circle also offers checking account purchases once you have validated your bank account. These will be free of charge, no processing fee! While linking bank accounts isn’t anything new the real game changer is the frictionless purchase of bitcoin with credit cards. Give it a shot!