Bitcoin continues to conquer new peaks. On February 16, 2021, its exchange rate reached a record $50,000 and continued to rise. Interest in BTC is actively fueled by large companies, which begin to openly express their interest in cryptocurrencies. Thus, American car manufacturer Tesla invested $1.5 billion in bitcoin and began to accept the largest cryptocurrency as payment for their goods.
Mastercard announced that it will make direct cryptocurrency transactions available to its customers. The head of another payment giant, VISA, said the company is also working on technologies to interact with cryptocurrency. You can also find an interesting service here https://cryptopay.me/.
Despite the world’s close attention to cryptocurrency and its recognition by major companies, holders of decentralized money cannot pay with cryptocurrency in 99.9% of stores worldwide. So far, users have access only to the long and costly process of converting cryptocurrencies into fiat money through banks. Also, the principle of decentralization, for which, in fact, cryptocurrency was created, is lost. A combination of these factors draws the attention of cryptocurrency holders to cryptocurrency cards – an analogue of a bank debit card that allows depositing funds with cryptocurrency and paying with fiat money – cryptocurrency is instantly converted into it during payment. The main convenience of cryptocurrency cards is that the cryptocurrency that goes into the card account is automatically converted into fiat money when making payments.
How do cryptocurrencies differ from each other?
Each crypto card has a number of parameters and limits. Let’s analyze them using examples of the most popular cryptocurrency cards and try to determine how they differ from each other and which cryptocard looks preferable in terms of usage.
A British cryptocurrency platform that also issues cryptocurrencies. Wirex crypto card supports 10 cryptocurrencies (BTC, LTC, ETH, XRP, WAVES, WOLLO, DAI, NANO, XLM), its platform tokens and 3 fiat currencies – dollars, euros and pounds.
A veteran of our list. The company has been on the market for 10 years and in 2016 was one of the first to offer its customers the use of a cryptocurrency card, which exchanges cryptocurrency for fiat money at the market rate. CryptoCard performs transactions with BTC, ETH, XRP, BCH.
Another mastodon of payment services whose cards support digital currencies. Only residents of the European Economic Area can apply for this card. Crypto card works with 4 kinds of cryptocurrencies – BTC, ETH, LTC and XRP.
To issue and use a Cryptopay card it is necessary to register a personal account on the Cryptopay platform itself, then replenish the created account with cryptocurrencies and then send the required amount to the card account. After the cryptocurrency will be credited, it will be stored on the card in American dollars. You can get more information here https://cryptopay.me/bitcoin-debit-card.