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Crypto cards allow you to pay with cryptocurrency in stores, as well as withdraw cash from almost any ATM in the world. Moreover, each company that issues such cards has its own privileges for users.
Now, to convert Bitcoin to dollars, you need to transfer BTC to a centralized exchange, exchange it for USD, and then withdraw it to your bank card. You can also use an exchanger, but then there is a risk of falling for scammers. Such a long way to cash out cryptocurrency creates difficulties for ordinary users and reduces the attractiveness of using it as a means of payment.
The solution could be a cryptocurrency card. It works exactly the same as a regular debit card.
When you come to the store to buy groceries, you can easily pay for your purchase with a bank card. And immediately the required amount of dollars will be debited from your account. Now imagine: you perform exactly the same action, but pay with a crypto debit card. And Bitcoin is instantly debited from your wallet, the amount of which is equivalent to the purchase price. That is, automatic conversion into dollars occurs and you do not need to make a bunch of transactions to cash out cryptocurrency.
It's simple: now you can buy any product anywhere in the world and pay directly with cryptocurrency!
Some centralized exchanges and payment services have already released their crypto debit cards. The use of such cards greatly simplifies the interaction between the traditional and cryptocurrency financial systems. You can receive your salary in Bitcoin and immediately use it for everyday spending, paying for groceries, gas, clothes, paying bills, etc. Essentially, this will replace your regular bank account and you won’t have to worry about withdrawing funds. And since it's a debit card, you won't be able to spend more than you have.
Another important advantage is the availability of cashback. Since many companies are now actively fighting for customers, they create attractive conditions for using their cards. Cashback percentages range from 1% to 8% and are awarded when you make purchases.
Applying for a crypto debit card will depend on the provider, but the process is very simple and quick. Since, unlike a credit card, a debit card does not require a credit check, the entire application process literally takes a few minutes. Some providers only offer a virtual card, which you can use to immediately pay in online stores or connect to your Apple Pay or Google Pay wallet. There are also services such as BitPay that provide the option of issuing a physical card. You can proudly carry such a card in your wallet and slowly touch it to the terminal under envious glances
Moreover, you can insert a physical card into any ATM and withdraw funds from your cryptocurrency account, instantly converting them into fiat.
The choice of crypto debit card will depend on your needs and where you live. Some companies issue cards with restrictions and daily limits. An important aspect is the number of supported cryptocurrencies and the absence of regional restrictions.
Since most crypto cards are supported by Visa and MasterCard, they can be used worldwide, in any store or ATM.
Next, we will look at the three most popular crypto debit cards and compare their advantages.
Customers are offered cards with 5 different levels, each with their own conditions and reward structure. The Obsidian rewards card offers 5% cashback and, for example, unlimited access to airport lounges using the LoungeKey program. This card also offers cashback on Airbnb and Expedia bookings, 100% cashback on Spotify, Netflix, Amazon Prime subscriptions, etc. But to get this particular card, the user needs to stake $400,000 worth of CRO token
In the picture you can see a comparison of these three cards based on their main characteristics:
Crypto cards significantly simplify the use of cryptocurrencies for the average user. Moreover, for them there are no boundaries that exist for payments in fiat. At the same time, the commission for transfers is much lower; for example, in the Litecoin network it is less than $0.1.
And in conclusion, I would like to note that the functionality and accessibility of crypto cards makes it possible to realize the long-standing dream of crypto enthusiasts: to use cryptocurrency as a legal means of payment.
What is a cryptocurrency card and how does it work?
If you own cryptocurrency, you've probably wondered how to apply it in everyday life. And how convenient it would be to pay with it in stores.Now, to convert Bitcoin to dollars, you need to transfer BTC to a centralized exchange, exchange it for USD, and then withdraw it to your bank card. You can also use an exchanger, but then there is a risk of falling for scammers. Such a long way to cash out cryptocurrency creates difficulties for ordinary users and reduces the attractiveness of using it as a means of payment.
The solution could be a cryptocurrency card. It works exactly the same as a regular debit card.
When you come to the store to buy groceries, you can easily pay for your purchase with a bank card. And immediately the required amount of dollars will be debited from your account. Now imagine: you perform exactly the same action, but pay with a crypto debit card. And Bitcoin is instantly debited from your wallet, the amount of which is equivalent to the purchase price. That is, automatic conversion into dollars occurs and you do not need to make a bunch of transactions to cash out cryptocurrency.
It's simple: now you can buy any product anywhere in the world and pay directly with cryptocurrency!
Some centralized exchanges and payment services have already released their crypto debit cards. The use of such cards greatly simplifies the interaction between the traditional and cryptocurrency financial systems. You can receive your salary in Bitcoin and immediately use it for everyday spending, paying for groceries, gas, clothes, paying bills, etc. Essentially, this will replace your regular bank account and you won’t have to worry about withdrawing funds. And since it's a debit card, you won't be able to spend more than you have.
Another important advantage is the availability of cashback. Since many companies are now actively fighting for customers, they create attractive conditions for using their cards. Cashback percentages range from 1% to 8% and are awarded when you make purchases.
Applying for a crypto debit card will depend on the provider, but the process is very simple and quick. Since, unlike a credit card, a debit card does not require a credit check, the entire application process literally takes a few minutes. Some providers only offer a virtual card, which you can use to immediately pay in online stores or connect to your Apple Pay or Google Pay wallet. There are also services such as BitPay that provide the option of issuing a physical card. You can proudly carry such a card in your wallet and slowly touch it to the terminal under envious glances
Moreover, you can insert a physical card into any ATM and withdraw funds from your cryptocurrency account, instantly converting them into fiat.
The choice of crypto debit card will depend on your needs and where you live. Some companies issue cards with restrictions and daily limits. An important aspect is the number of supported cryptocurrencies and the absence of regional restrictions.
Since most crypto cards are supported by Visa and MasterCard, they can be used worldwide, in any store or ATM.
Next, we will look at the three most popular crypto debit cards and compare their advantages.
Crypto.com Visa
Crypto.com offers one of the most popular cryptocurrency debit cards on the market. It works on the Visa network, supports more than 100 cryptocurrencies and is issued in more than 100 countries around the world.Customers are offered cards with 5 different levels, each with their own conditions and reward structure. The Obsidian rewards card offers 5% cashback and, for example, unlimited access to airport lounges using the LoungeKey program. This card also offers cashback on Airbnb and Expedia bookings, 100% cashback on Spotify, Netflix, Amazon Prime subscriptions, etc. But to get this particular card, the user needs to stake $400,000 worth of CRO token
Binance Card Visa
This card also works on the Visa network, but is only available to European customers. With each purchase, the user can receive up to 8% BNB cashback and withdraw funds from ATMs without commission. The issuance of both virtual and physical cards is free.
Coinbase Visa
The Coinbase card is available to all US residents (except Hawaii) and allows you to earn up to 4% cashback on purchases. At the same time, users do not need to pay for card maintenance or withdrawal of funds from an ATM.
In the picture you can see a comparison of these three cards based on their main characteristics:
Crypto cards significantly simplify the use of cryptocurrencies for the average user. Moreover, for them there are no boundaries that exist for payments in fiat. At the same time, the commission for transfers is much lower; for example, in the Litecoin network it is less than $0.1.
And in conclusion, I would like to note that the functionality and accessibility of crypto cards makes it possible to realize the long-standing dream of crypto enthusiasts: to use cryptocurrency as a legal means of payment.
