CoinCorner Launches NFC-Enabled Bitcoin Card

On May 17, the official website of CoinCorner, a provider of crypto exchange and web wallet, announced the launch of The Bolt Card, a contactless Bitcoin ( BTC) card.

Lightning Network is a decentralized system, a second-layer payment protocol that works on the blockchain (mainly for Bitcoin), and its capacity can affect the transaction frequency of the blockchain. Lightning Network is designed to achieve instant transactions between both parties without trusting each other and third parties.

Users simply tap their card at a Lightning-enabled point-of-sale (POS), and within seconds Lightning will create an instant transaction for users to pay with bitcoin, CoinCorner said. The process is similar to the click function of Visa or Mastercard, with no settlement delays, additional processing fees and no need to rely on a centralized entity.

Currently, The Bolt Card is with CoinCorner and BTCPay Server payment gateways, and customers can pay with the card at locations that have CoinCorner Lightning-enabled POS devices, which currently include around 20 stores in the Isle of Man. Scott added that they will be rolling out this year in the UK and other countries.

For now, the introduction of this card is likely to help pave the way for more Bitcoin promotion.

And Scott’s statement seems to confirm the market’s speculation, “Innovation that drives Bitcoin adoption is what CoinCorner does,” Scott tweeted, “We have more big plans, so stay tuned throughout 2022. . We’re building real products for the real world, yes, we mean the whole world – even if we have 7.7 billion people.”