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Cash or plastic? Countries where crypto debit cards are available

June 1, 2020

As a sector, plastic cryptocurrency cards have developed bumpy. While it’s the perfect way for some to spend these stacked satoshis, cryptocurrency companies have obviously struggled to provide such a service. Crypto debit cards are shaken due to regulations, manufacturer problems and the volatility of digital assets.

However, The use of the crypto debit card is increasing and is seen as an important development for the increasing spread of cryptocurrencies worldwide. In which countries are most of these cards available?

Wirex

Cash or plastic? Countries where crypto debit cards are availableCash or plastic? Countries where crypto debit cards are available

Wirex is a London-based provider of crypto debit cards and is often used in the wallets of many industry representatives. The company offers more than 13 traditional accounts and cryptocurrency accounts and features crypto-to-crypto, fiat-to-crypto, and crypto-to-fiat capabilities. The company is also supported by Visa, which means that you can spend cryptocurrencies wherever Visa is accepted.

Wirex launched its Russian service on May 19 and offered fiduciary credit and debit cards to its customers. According to a company press release, it should offer customers the opportunity to purchase cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP, Dai and their native token Wirex (WXT) via Visa. and MasterCard Card.

Revolut

Revolut is perhaps the most well-known card provider to penetrate the world of cryptocurrencies. Revolut is based in London and is headed by CEO Nikolay Storonsky. According to the company, Revolut has 10 million customers, a third of whom traded cryptocurrencies in its app.

The company recently reported a 58% decrease in average cryptocurrency purchases from its UK customers, citing the impact of the isolation measures imposed in March. Two months later, the average total returns to the previous level and has increased by 57%.

monolith

Monolith is based in Manchester, England. It is a company that tries to bring self-sovereignty into its financing through decentralization. Mel Gelderman, CEO of Monolith, explained to Cointelegraph the philosophy behind the decentralized financial factor in his offer for crypto debit cards:

“We have full confidence in DeFi and its role at the beginning of the next economy. Monolith’s purpose is to make DeFi a viable option to easily manage your daily finances, as you would now in your banking application. The diversity of DeFi allows users to maximize their prosperity in a way they could not before. We go one step further by making sure that we don’t have access to their money since every user wallet has no custody. “

Revolut app sees 68% increase in cryptocurrency retailers

The coronavirus pandemic had an unprecedented impact on businesses, whether decentralized or not. Still, Gelderman told Cointelegraph that the flexibility of DeFi and cryptocurrencies is particularly attractive to customers who want to have control over their finances during the COVID 19 crisis:

“The cryptocurrency industry is becoming an integral part of everyday life in terms of financial management, and debit card services are part of it. The crypto debit card is the next step in this evolution. It provides the end user with an untrusted financial platform that interacts in a way that which is no different from the checking account you use every day. This combination of opportunities, ease of use and fund control makes this new economy more profitable than ever. “

Coinbase

Coinbase is a U.S.-based platform that offers a variety of features, including wallet, wallet, and trading services. The company’s crypto debit card with the fanciful name Coinbase Card was launched in 2019. Initially, the card was only active in six European countries, but since then it has been launched in ten other countries with a wider range of crypto assets.

The company announced on February 19 that it has become a primary member of Visa. This means that it can now issue debit cards without third party involvement and can now also issue cards to other cryptocurrency companies.

Bitwala

Bitwala, a Berlin-based blockchain bank, offers a service that allows customers to convert their cryptocurrencies and pay with a Mastercard debit card. The card is linked to a Bitwala bank account and is only available to EU and Swiss citizens.

Bitwala recently partnered with the DeFi Celsius platform to offer an annual stake of up to 4% in Bitcoin holdings. Client funds using Bitcoin interest accounts are lent through Celsius to institutional borrowers who receive interest on BTC weekly. Bitwala said DeFi was “a new way to create wealth”, citing the passive income generated by cryptocurrencies as an example.

partner

Celebrity Tokenization is one of the most innovative sectors in crypto finance. Partners operates a token ecosystem for crypto sports fans and offers token voting platforms and a blockchain-based mobile app. The company announced in late February that it would launch a Crypto-a-Fiat prepaid debit card. Alexandre Dreyfus, CEO of Partners, told Cointelegraph how the project works:

“Membership debit card, a Fiat debit card that Socios.com users can use to receive a card (VISA or MASTERCARD) that generates rewards every time they spend money. The idea is if you’re a fan of Juventus are and spend FIAT In an Adidas store, for example, you get money back and more tokens from Juventus fans. “

Dreyfus also told Cointelegraph that tokens and payments could impact both service users and sponsors in the sport: “Sponsors can track and spawn campaigns with teams they sponsor and with which fan tokens were issued to US”.

Binance

The Titan Binance from the cryptocurrency industry announced in March that it would launch its own debit card. The first tests are taking place in Malaysia. The card issued by Visa will be available in Southeast Asia and then expanded to other regions. The internal balance of the Binance Card is in cryptocurrencies with Binance Coin (BNB) and Bitcoin. The card costs $ 15, but has no monthly or annual maintenance fees.

Paycent

Paycent is a Singapore-based provider of crypto debit cards. A Paycent card costs $ 49 and is available in three tiers. Ruby works with UnionPay and has a daily spending and withdrawal limit of $ 5,000. Sapphire works with the unified payment interface and has a daily spending limit of $ 5,600 and a withdrawal limit of $ 1,650. Solitaire is Paycent’s option for large donors. It was developed by Mastercard and has a daily spending limit of $ 13,000 and a withdrawal limit of $ 10,000. The supported currencies are the native PYN token from Paycent, Bitcoin, Verge (XVG), Dragon (DRGN), Ontology Coin (ONT), DigiByte (DBG), Groestlcoin (GRS), Binance Coin, Ether, Litecoin, XRP, Dash and Steem.

Become a primary Visa partner

Coinbase is a leader in becoming a reputable primary Visa partner. As reported by Cointelegraph, only three other companies have publicly considered going through the grueling investigation process to become partners. If Cryptopay, Crypto.com and Crypterium are successful in their applications, companies can be different from all other competitors in the industry.

George Basiladze, co-founder of Cryptopay, gave Cointelegraph an insight into the application process and said that it is a long way to get a license from the Electronic Money Institution, which is certified according to the payment card industry’s Data Security Standard and a lot of funding. This is what companies have been offering so far.

Crypto.com

Crypto.com is a payment and cryptocurrency platform that offers five different cards. The simplest is free and offers 1% spending bonus for all transactions, while the most expensive one requires a Monaco (MCO) share of 50,000 and 5% spending bonus for transactions, access to airport lounges and Spotify, Netflix and Amazon Prime. The company recently announced the launch of its Visa MCO card. Formerly known as the Monaco Card, it will be available in 31 countries in the region. Crypto.com claims that this makes your card the most accessible in the world.

Cryptopay

The Cryptopay C.Pay card can be ordered in the UK and Russia and used wherever Visa is supported. This means that customers can use it with the same support and security they would normally expect from a Visa card. C.Pay customers can use cryptocurrencies to spend up to € 30,000 on a transaction.

Virtual cards are free and prices start at $ 5 for a physical card that offers a daily fee of $ 8,000 and a daily cashout limit of $ 400. For C.Pay cards, a monthly administration fee of 1 euro, a national ATM fee of 2.50 euro, an international ATM fee of 3.50 euro and an exchange fee of 3% as well as a fee of 3 euro will be charged %. C.Pay customers can spend Bitcoin, Litecoin, XRP and Ether.

Crypterium

Crypterium, based in Estonia, also wants to offer the most global card. The Crypterium card provides access to over 50 million online and offline retailers, 2.5 million ATMs worldwide and is supported in 178 countries. The cards have a spending limit of up to $ 13,000 a day or $ 60,000 a month and a special app.

The cards cost $ 25 each, but do not incur any monthly costs. Chinese financial services company UnionPay processes crypterium debit cards. Austin Kimm, COO of Crypterium, recently told Cointelegraph that UnionPay Crypterium gives it a wider global reach: “Both Visa and Mastercard enable cards to be developed for specific regions such as the United States, South America, Europe, etc. In contrast, UnionPay shares that World in two regions. “