The technology behind crypto is also growing and maturing as the industry grows. Once it was thought that a major reform of the finance system would be needed to allow cryptocurrency to be accepted in most retail stores, but the truth is, this has not happened. Crypto debit cards allow people to use their Bitcoins outside of the home without having to deal with QR codes and public keys. They are debit cards that can hold cryptocurrency as well as fiat money (e.g. USD, EUR, GBP) together. Because they are similar, you can use them in any store that accepts credit/debit cards. You can use them at ATMs. Crypto cards such as those made by Wirex or Monaco, are essential for anyone who is interested in cryptocurrency. The process of spending and using your coins is made easier with a crypto card. These are just some of the advantages of using a cryptocurrency card.
Buy your goods in physical stores using crypto
Currently, the majority of people use cryptocurrency only to buy other cryptos via an exchange or occasionally to purchase goods from the limited number of online shops that accept them as payment. Cryptocurrency enthusiasts and fans rarely have the chance to use their coins in place of fiat. This is changing with crypto cards. You can now use cryptocurrency in stores that accept regular credit cards. Using the ‘Chip & Pin or contactless’ feature, you can make purchases. You can use cryptocurrency to pay for groceries, to go to the cinema, or to pay for a service in a restaurant. You can also use cryptocurrency if you are in a place that has contactless payment on public transportation (like London). You can do this with the Wirex card, as well as Monaco’s cards when they launch.
Earn cashback for your purchases
Crypto cards work in the same way as fiat cards, which give cash back on certain purchases. Wirex cards have a cryptoback feature that rewards your Bitcoin purchases. You will receive 0.5% back in BTC for every purchase you make with your Wirex card. This can be done either by using the contactless function or by simply swiping the card. The BTC can be converted into fiat currency if desired, or left there indefinitely. Cryptoback does not have any limits. You can therefore earn Crypto Back with no limits. Wirex Cryptoback works at any shop. The more you use your card, the greater the Bitcoins you earn.
Use an ATM for your Crypto to Fiat
Crypto cards have a Chip & Pin feature, which means they can also be used in an ATM. It is possible to convert any ATM into a Bitcoin Wallet by withdrawing your crypto into fiat. You can use your Monaco card or Wirex to convert Bitcoins into banknotes at an ATM. It eliminates the need for cumbersome cryptocurrency-to-fiat conversions every time you wish to withdraw your money.
You can see here the incredible versatility of Crypto Debit Cards. These cards simplify the process of buying products with cryptocurrency. They are a must-have for anyone who loves the crypto industry.