The cryptocurrency has evolved significantly over the past few years. The transaction around the space is getting much more manageable. With that, there are more and more new features that are coming in. Products such as credit and debit cards are slowly joining the hype. In light of that, should you get your own crypto debit card?
Crypto.com recently announces its newest feature as it now allows Google pay users to purchase in-app features using the crypto card. This allows more utilization of the card which entices users. With that, cryptocurrency is becoming easier to use. Cashing in and withdrawing is becoming much more accessible. But, what do you need to know before you buy one, and what card should you buy?
Perks of Crypto cards
Crypto debit cards are one of the best things developed under the blockchain’s canopy. The birth of these cards allows users to cash out their funds instantly. In addition, users are also able to store and manage their cryptocurrencies under one platform. These are some of the advantages associated with crypto debit cards. In light of that, people see crypto cards as answers to the long process of cashing out their crypto incomes. This also eliminates the possible transaction fees from converting and transferring crypto from one platform to another.
Aside from these, cryptocurrencies are meant to be used worldwide. Most crypto cards are created so it works everywhere in the world where crypto is supported. Lastly, since it is a debit card, you can use it like a standard debit card, whether paying for food at a restaurant, buying goods at a grocery, or even subscribing to streaming apps to watch your favorite shows.
What you should be in mind?
Despite these benefits, crypto cards has also few drawbacks. Firstly, since debit cards are associated with banks, indirect taxation may occur. In line with that, there could also be an annual fee linked to the cards.
Also, cryptocurrency is very volatile. The price of cryptos under your possession might change. However, there are platforms such as PrivacySwap that allow users to convert their crypto holdings to fiat. This is one of the excellent features of the card, but you cannot revert the process once approved and the only way to get your fund is to withdraw your money through ATM terminals — That’s the purpose of your debit card anyway.
Like the regular debit cards, the usability of debit cards vary wherever you are. Hence, ensure to check if that country or place you’ll be heading supports card payment so you can prepare ahead. Nonetheless, as crypto progresses, these drawbacks will soon be eliminated and crypto will become more accessible and usable to everybody everywhere.
In a nutshell,
Your spending habits and financial situation should be taken into account when deciding whether to apply for a debit card. Your choice of card will depend on a number of factors, including the platform it is affiliated with and the cryptocurrencies you use most frequently, as well as the rewards rates, spending limits, regional restrictions, and other requirements, such as staking.
If you are looking for a recommendation, PrivacyCard is one of the cards to consider. With the wide range of options, a plethora of supported cryptocurrency, and the super affiliate program, PrivacyCard is one of the best crypto debit cards that exist.
One of the best features of PrivacyCard is that it facilitates crypto-to-fiat transactions, so you can use your cryptocurrency as fiat currency to pay for everyday purchases. The platform’s PrivacyOracle feature also simplifies asset management.
As one of the primary goals of the platform’s development, it supports a wide range of tokens. Upon its initial release, it was compatible with a wide variety of tokens. It works with the most popular cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). Also, it was built to support additional tokens from the get-go, which includes BNB, USDT, BUSD, USDC, CAKE, EOS, ALPACA, XVS, AUTO, MDX, and MBOX. As PrivacyCard continues to forge partnerships with other platforms, it will soon be able to support an even wider variety of tokens.
Lastly, Support for Web3.0 — PrivacySwap’s card loading platform runs on Web3.0, the hoped-for answer to the problem of increasing scalability. Safer and more convenient cryptocurrency and fiat balance checks are now possible with PrivacyOracle (the card loading platform). PrivacyCard is indeed one of the best crypto card out there.
Discover PrivacyCard and PrivacySwap now!