PAYMENT CARDS WITH CRYPTOCURRENCIES: SHELTER AGAINST INFLATION

Cryptocurrencies, unlike traditional currencies, are decentralized; this indicates that they do not depend on the intervention of third parties to operate with them; only the parties involved in a particular transaction are needed. This is what also happens with Bitcoin Aussie System.

This novel concept allows people to send and receive securities from anywhere globally, which is not manipulated or commissioned by a bank only requires an internet connection.

This digital market now becomes more interesting with the creation of payment cards, a tool that will undoubtedly shake more than one bank.

Cryptocurrencies as a financial haven

After the world experienced one of the biggest economic crises in 2008, where many people were the ones who put all their trust in depositing their money, including their savings, in banks, where the results of that decision were simply dismal.

In the face of this crisis, Bitcoin arises. With it, a varied group of decentralized cryptocurrencies that, based on the Blockchain platform, facilitate transactions directly between beneficiaries, guaranteeing fast, secure operations and without having to reveal more user information.

In recent years, cryptocurrencies have managed to position themselves even more due to the various political, economic, health, and social situations that the world has gone through.

All these complex decisions that have financially hanged many have made it possible to search for strategies and tools that in some way generate peace of mind concerning personal finances, finding in digital currencies an investment alternative and refuge for capital.

The dollar as a currency of global use has suffered significant blows as a result of these situations; in the face of these effects, other assets have shone, as is the case of Bitcoin, which, even with its volatility, has made more than one obtain profits of thousands and even millions of dollars

What are cryptocurrency payment cards?

These cards under the prepaid modality are known as bitcoin cards, which have the same characteristics and functions as a traditional debit or credit card, used to acquire products and services in Fiat currencies only that they are recharged in cryptocurrencies. The purchase is transferred to the supplier in legal tender, plus the user is deducted from his balance in cryptocurrencies.

The main objective of this type of digital financial tool is to position them at the level of traditional cards, managing to add a more significant number of companies that wish to bet on the use and management of this new form of payment.

How do Payment Cards operate with cryptocurrencies?

The main feature of this type of card is that they are associated with an address, in this case, Bitcoin, instead of a bank account, automatically converting operations into the country’s legal currency where the purchase is made.

To date, more than 100,000 cards have been issued, promoting them through the use of economic incentives that attract the attention of many users.

Its functionality is based on four fundamental aspects:

  • They are requested through internet apps.
  • They work in the same way as cards issued by banks.
  • At the time of purchase, the available currency options are displayed.
  • Because they are prepaid cards, all recharges are made online.

All operations are processed through applications whose function is to serve as a digital wallet for its users to keep track of the balances in available cryptocurrencies.

All those companies that accept VISA, Mastercard, or their equivalents as a payment method may operate with this type of payment card.

Some of the payment cards currently on the market are listed below:

  • Binance Card
  • Wirex Card
  • 2gether card
  • com Card
  • Revolut Card
  • Coinbase Card

Conclusion

The world is constantly changing, so all these innovations should not seem strange to us; the digital market has positioned itself to offer services and products adapted to an environment in a constant struggle for financial stability.

Therefore, using this type of financial-technological tools will be increasingly common, offering both the digital and traditional markets new ways to get involved in favor of users and the global economy.

Over time, even more applications and cards will emerge that offer exciting benefits to their carriers and even more innovative technologies, capturing a more significant number of followers and companies willing to open operations with cryptocurrencies.

Noah Murphy
Noah Murphy
If Life is just a game and luck is for losers - Then I am winning the game

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