Crypto Debit Cards’ Growing Popularity
Main page Finance, Cryptocurrency, Bitcoin
Hot topic
Sept. 22, 2017
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The hype started when Floyd Mayweather, the world-boxing champion, took a step further in the world of crypto money by becoming Centra Card’s partner.

There is no need to talk about the role of social media in today’s world, so you could imagine how Mayweather’s social media posts about cryptocurrencies drew attention of thousands if not millions.

Whether it is a natural development or the champion’s smart strategy to sell his coins, Mayweather’s association with and his ownership of cryptocurrencies remains an unquestionable fact.

Growing popularity of Crypto Debit Cards

Crypto debit cards are accepted almost everywhere where regular fiat-based debit cards are operational. The feature of such cards is that there is a flexibility of simultaneously handling multiple cryptocurrencies along with fiat money. Because cryptocurrencies have no borders and are not restricted to specific governments, crypto debit cards can moreover serve as a convenient tool for tourists as it is easy to convert to different main currencies.

David Mondrus, a Bitcoin (Bitcoin) and Cryptocurrency consultant from Florida, US, calls crypto debit cards “real life savers.”

Mondrus states that these cards allow users the flexibility of using their crypto wallet for retail purposes.

“Crypto Debit card adoption can play a significant role in bridging the gap between the crypto and fiat worlds. A crypto debit card allows users to use their crypto wallets in a retail setting easily and with low friction. I've travelled extensively in the US and abroad using my crypto debit card. It's been a real life saver at times.”

Crypto cards are moving towards bigger acceptance

The crucial trait of the cryptocurrency progress is the connection between crypto and mainstream commerce. This is due to the fact that such connections are likely to boost crypto adoption by a wider segment of the society. The link between crypto and mainstream commerces come in the form of user interfaces such as apps and debit cards.

Some of the other crypto debit cards include:

Kumar Gaurav, chairman of India’s leading enterprise blockchain company Auxesis Group, says that a crypto debit cards work just like any other debit card, however, in place of being linked to your bank account, it is connected to your digital currency wallet. Thus, it easy to use your coins anywhere you go.

“Considering this Cashaa is launching its cards based solution in India to facilitate the use of cryptocurrencies in a fully regulated way. This will support the initiative of the Prime minister Narendra Modi’s vision. Auxesis group is supporting this initiative which runs the Auxldger with State government of India with 53 Million users on it,” Gaurav said.

Crypto debit cards hold the advantage of a worldwide application, frictionless conversion to other state currencies and lower fees compared to regular fiat debit cards.

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