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Tuesday, May 30, 2023

Rise of Crypto Cards

When the banking sector started the use if cheques came, receipts were use to show the documentation of transactions. Soon everything became digital and debit and credit cards came into existence. This allowed for easy transactions to the customers. Debit and credit cards soon took over and made a lot of things obsolete. VISA and MASTERCARD took over the market that allowed the customers to use their cards anywhere around the world making it easy for the users to carry out transactions.

Now with the launch of new payment and currencies, it seemed reasonable that debit and credit cards for the cryptos are to be launched. Now different platforms have launched their own crypto debit cards that allow the cryptocurrencies to be used in the same way as fiat currencies are used.

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Different Cards:

There are many different cards and each one offers different perks to its users. It is a fact though that crypto at the moment is very limited and not many places are there that accept it as a form of payment. At the moment it is treated more of an investment rather than a full fledged currency. As a result crypto cards don’t have that much use as compared to the other cards. But at the same time these platforms offer different perks to lure users. This surely has resulted in people using them and as a result, has increased the exposure to the whole scheme.

Binance has launched their own crypto card. Kucoin, Crypto.com have also launched their own cards. These have limited use but at the same time offer different perks and rewards. For example Crypto.com offers CRO rewards which are different for their different cards. Memberships for Spotify, Netflix,  Amazon Prime also come as a perk. Airport Lounge Access, merchandise, Private Jet Partnership also come as a benefit for obsidian card holders.

People can apply for the cards through their websites. These cards are not available in all the countries but slowly and slowly they are increasing their range.

In the future when cryptocurrency becomes mainstream and people start using it on the daily basis to carry out their transactions, these cards are surely going to be of help in making it even more accessible and would become affordable to people around the world. But at the moment is somewhat slightly difficult to get your hands on one of these.

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