A new Visa crypto credit card will be launched in the US by Crypto.com will allow users to all the facilities available to them before such as to purchase, sell, buy and track cryptocurrencies and also be able to use it to spend their digital coins. This can be applicable in any store which accepts Visa through conversion to fiat money and there will be no extra charge of fees. A crypto card is just like a credit card but instead of money being drawn from your credit line or bank account, the funds will be taken from the cryptocurrency wallet. Reservations have already started and over 100,000 cards have been reserved globally.
Such a card will cause a great impact in the real life. Users will actually be able to not only use this as an investment to assets but to purchase commodities. In conclusion these cards will offer many benefits such as freedom of not having to worry about exchanges or exchange rates, accepted almost everywhere and unlike spending cash many reward schemes which will actually be beneficial will be available.
The big names in crypto credit card development at the moment are:
Nexo- Earlier in April Nexo announced the launch of the world’s first instant crypto backed loans platform which aims to change the loan industry by eliminating the choice investors need to make between accessing cash and holding their cryptocurrencies. It is designed as being both user friendly as well as secure. It also has the benefit of users paying interest only on the amount that is used and there are no hidden fees or minimum repayments.
TenX- Just like Nexo, TenX is a digital wallet as well as a physical card. It is quite affordable and can even be used in places where crypto is not accepted. TenX also offers the service of a reward of 1 percent on every purchase made.
Monaco- It is built according to the Ethereum blockchain which offers 4 types of different cards. These cards are based on how many MCO tokens held over 6 months. MCO tokens are Monaco’s own native currency. These cards can be found in Asia, Europe and North America at the moment and support MCO, Ethereum and Bitcoin.
As cryptocurrencies and these cards become more popular and available to the wider public they will change the way crypto is used to pay for services and commodities.!
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