In the world of cryptocurrency, a project’s utility is what makes that project stand out and survive long-term. To this end, DeFi platforms are building utilities to address whatever huge demand is out there, such as when more crypto users are finding ways to utilize their digital assets. Both users and developers were able to create avenues to cash out their crypto investments. For instance, cold ledger wallets were invented to safeguard assets. E-wallets such as Binance, Coinbase, and more were then further created to function the same way. Then, there are crypto cards, which attempt to bind crypto to fiat transactions. With its undeniable status in the DeFi world, crypto debit cards benefit crypto users in more ways than one.
The rise of e-money and today’s concerns
The rise of e-money is something that people didn’t ask for but is needed. With the rising popularity of the internet, online proxy shops such as Amazon and eBay have long emerged as more convenient alternatives. Thus, the need for online payment has surged. The inception of e-money in the late 1980s was not fully utilized until 2009, when the crypto pioneer — Bitcoin came out and hit the market. After gaining popularity, more cryptocurrencies were developed. Ethereum and dogecoin soon entered the market, making the competition much tougher.
Additionally, more people are becoming aware of these alternative currencies. This, despite the risks that come with a trustless, decentralized ecosystem. Security vulnerability is more widespread in space, and the way of withdrawing funds as much as they possibly c had become a question to most. Developers have been creating solutions to existing problems or vulnerabilities. They aim to make cryptocurrency more secure for users. Cold ledger wallets are being created, for instance. But, of course, users would still want an easier way of withdrawing their cryptocurrency.
To this end, crypto wallets were created, somehow resolving the problem. This, however, created more concerns in the space. People find the withdrawal process way too long and expensive. Because of that, some opted to look for alternatives.Crypto Cards: How do they work?
Crypto Cards: How do they work?
With the help of combining modern finance and cryptocurrency, developers created the crypto cards. This has become a competitive trend in the crypto space. Crypto cards are exactly what you think. They are debit or credit cards that you can use to purchase from a store online or offline.
Like the majority of credit cards in circulation, transactions are processed through the world’s leading payment processing networks: Visa, Mastercard, and so on.
This means that if your cryptocurrency rewards card is issued by Visa, it will be accepted anywhere Visa cards are accepted. Depending on their processing network, crypto-rewards cards may also be eligible for Visa or Mastercard advantages and card protections.
You can use a crypto-rewards card to make purchases in the same way that you would a standard card. And, just like a typical card, you’ll often be able to receive cash back when you use your crypto card. While some cards reward you with airline miles or cashback, crypto rewards you with Bitcoin and other cryptocurrencies. Some cards also allow you to cash out your profits in exchange for cryptocurrencies.
PrivacyCard was built as a solution to the long and painful process of withdrawing your funds. However, it was also created to act as a conventional debit card that one can conveniently use when purchasing goods and services. In addition, it accepts many cryptocurrencies that the team is aiming to expand as soon as possible. It should also be noted that PrivacyCards are powered by PrivacyOracle, the world’s first web3 card loading platform that lets you connect your card directly to your wallet.
The cards’ staking requirements remain the same. You need to stake at least USD 200 worth of PYDEX to buy the cheapest version — the black premium. The Black and Silver(metal) iterations require USD 1000 worth of PYDEX, and the Gold Version requires at least USD 2000 PYDEX.
After launching the new DEX (https://pydex.privacyswap.finance), the team will be releasing PrivacyCards along with its loading platform powered by Web3, the PrivacyOracle.
As PrivacySwap continues to enhance its system and add more features, there is no doubt that PYDEX users will benefit and reap an amazing return.
Learn more about PrivacySwap now!