We’re excited to share news of a historic moment: & successfully conducted the first settlement of transactions using USDC!Ī huge milestone for the industry as crypto and fiat networks begin to converge. įor the ardent cryptocurrency fan, the debit card is one of the top choices due to the fact that it has a built-in native token called Coin ( CRO) which functions as the primary currency and reward token for the blockchain.īenefits of using the card include 100% cashback on popular streaming services like Netflix and Spotify as well as up to 8% cashback on regular purchases.Ĭ users can choose from a list of more than 100 of the top cryptocurrencies to fund their card by depositing them into their account and converting them into a stablecoin which is then loaded onto their debit card. There are no transaction fees for users in the U.S., and the card has a daily spending limit of $10,000 with a maximum account balance of $25,000. Once approved, the user can load cryptocurrencies onto their BitPay wallet and then convert them to dollars to make them available on the card. Users who wish to obtain the card must first pay a $9.95 activation fee and provide their social security and driver’s license number to gain access. #apple #applepay #bitpay #bitcoin #bitpaywallet #bitpaycard #crypto /hRp7nm6vDu- BitPay February 23, 2021 Have you added your BitPay Card to Pay® yet? Easily make online and in-store purchases with crypto. It originally launched in 2016 as a US-only debit card and mainly functioned as a Bitcoin payments processor.īitPay now supports eight different fiat currency options alongside support for Bitcoin, Ethereum ( ETH), Gemini Dollar (GUSD), USD Coin ( USDC), Paxos (PAX) and Bitcoin Cash ( BCH). The BitPay prepaid Mastercard has emerged as a top choice for many cryptocurrency holders thanks to its ease of use and low fees. Three of the debit cards with a track record of success and attractive rewards are BitPay, and the Nexo Card. With institutions showing an increased interest in the growing cryptocurrency sector and mainstream awareness of blockchain technology at its highest level ever, crypto debits cards are increasing in prevalence as new players enter the field to try and capture a share in this growing market. They essentially work in the same way that a prepaid debit does. As blockchain technology and the public's awareness of cryptocurrency continues to grow, a range of new use cases a coming to market and enhancing the efficacy of legacy financial systems.ĭespite its many applications, the original use case for Bitcoin ( BTC) as a medium of exchange remains one of the most fundamental applications of blockchain technology and while BTC might not be the best asset to use for payments, there are service providers who have eased the process of settling transactions in other cryptocurrencies.įor now, the most widely accepted way to use cryptocurrencies for direct payments in everyday life is through the use of crypto debit cards which allow users to convert their crypto holdings into U.S.
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