Now you can get your own crypto VISA
In the autumn of 2021, the news came that several crypto exchanges had begun the process of looking at the possibilities of developing their own payment cards. A crypto payment card, in other words!
One would almost think that this was a development that would take a long time, but one can be so wrong. Crypto payment cards exist, and it is something you can easily get if it is something you want.
However, it is important to emphasize that this varies from crypto exchange to crypto exchange. Not all crypto exchanges have their own payment cards, so it all depends on which crypto exchange you have used to buy cryptocurrency.
In this article, we will take a closer look at the new concept that crypto payment cards are.
What is a crypto payment card?
A crypto payment card may no doubt sound a little cryptic, but it’s neither scary nor as complicated as it sounds. It’s really quite simple, and can actually be compared to your debit card.
A debit card is linked to your bank account at the bank where you are a customer. It is also possible to have debit cards at different banks. Some people also have something called a credit card, but that’s not something we’ll look at in this article.
Using a debit card works in exactly the same way as a debit card. You keep it in your wallet or purse, and then you use it when you pay in the store instead of your debit card.
The only difference between a debit card and a crypto payment card is that with a crypto payment card, the money is deducted from your crypto wallet instead of from your bank account in the ordinary bank.
Binance launches payment cards:
Here you get a review of crypto VISA from crypto.com:
Several crypto exchanges offer payment cards
There are several crypto exchanges that offer payment cards, and we believe that this is something that more crypto exchanges will start with as cryptocurrency as a means of payment is becoming more and more accepted in society.
With that said, this is not something that is very widespread in this country yet, but we still believe that this is something that will eventually come here as well.
These are some of the most well-known crypto exchanges that have embarked on the new trend of developing a separate payment card for their users. Among the crypto exchanges that have done so, we find the crypto exchanges Binance and Crypto.com.
A crypto payment card offers many benefits
If you have a crypto payment card in your wallet, then the only advantage is that you can pay with cryptocurrency instead of touching the money in your regular bank account.
Such a crypto payment card offers a number of benefits, but these will vary from crypto exchange to crypto exchange:
- With a crypto payment card from Binance, you get up to 8% cashback.
- The Crypto Battle Card from Crypto.com provides both cashback (no matter how much) and free access to Spotify and Netflix, as well as a lounge at selected airports.
However, there is a catch to it, and that is that you have to stake a good deal with the cryptocurrency exchange’s own cryptocurrency, and not everyone may be as comfortable with it.