With the booming cryptocurrency industry and its loyalists striving hard to introduce digital currency in the mainstream market, the introduction of crypto-debit cards shouldn’t come as a surprise.
The card functions just as a normal bank’s debit card would and allows you to purchase in stores and online.
We all know that although the number of merchants accepting bitcoins is increasing steadily, it is a little difficult for a normal user to quickly spend BTCs on goods and services.
If you find a merchant which accepts bitcoins directly, then all is well and good.
Otherwise, buying something with BTC involves the tedious process of having to sell BTC on an exchange/OTC, withdraw the fiat, and then proceed to spending it.
Obviously this is not the way crypto-adoption permeates, and hence I think crypto-debit cards will be the next thing to create ripples (pun unintended) in this market.
This could be a great step in helping turn sceptics into believers.Photo by Adrian Williams on Unsplash
Of the select few companies that allow you to own a crypto debit card, Bitcoin Cash Visa debit card is the most sought-after one, offering good payment options and nominal fees.
The other companies who allow crypto cards include industry leaders like Cryptopay, Fuzex and MoxyOne. Jumping on the bandwagon is Revolut offering debit cards that support various cryptocurrencies.
How about managing your USD, euros and UK pounds along with BTC and LTC, sounds too good to be true? Well, Wirex debit cards allow you to do so and all you need to do is register your account, fund it and get wired!
However, the drawback here is that only Bitcoin Cash of all crypto’s is capable of managing the large number of transactions that the Visa network supports.
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