It wasn’t too long ago that Bitcoin was an obscure digital currency that many turned their noses up to. Bitcoin has proved over the years to be a functional and reliable payment system, and as the crypto market finally edges over $1 trillion in value, the world has taken notice. With this, comes a new avenue: the wonderful world of Bitcoin debit cards.
What Are Bitcoin Debit Cards?
A Bitcoin debit card is exactly the same as your fiat debit card, only this one uses cryptocurrencies instead of your local fiat currency to pay. Similar to a normal card, the Bitcoin debit card still displays the same information such as the card holder’s name, the card number, expiry date, the company name of the card’s platform, and the processor be it VISA or Mastercard. The back of the card will also display the CVV/CVC (card verification value).
With a Bitcoin debit card, the card would be linked to a crypto wallet and when used, the funds will be taken from this account. Instead of converting your crypto to fiat and then withdrawing it to a fiat bank account, you can use the Bitcoin debit card to directly access your crypto wallet.
Why Would I Use A Crypto Card?
There are a number of reasons why Bitcoin debit cards outweigh your traditional debit card, let’s explore a few:
- Use crypto for real world transactions
You can now use your Bitcoin, Ethereum, Litecoin – any cryptocurrency – to pay for groceries, transport, and everyday goods without having to worry about the premeditated work of selling and converting it. The Bitcoin debit card allows crypto users to tap into their alternative monetary funds and spend them at a moment’s notice, taking advantage of the incredible versatility.
- Spend less money on fees
Most crypto card issuers are wavering transaction fees if you spend a certain amount each year. Save money on your banking fees for regular bank-issued cards, as well as on foreign exchange transactions. As the conversions from crypto to fiat take place on the backend, there are no hidden costs incurred for foreign exchange conversions.
- Seamlessly change between currencies
Many Bitcoin debit cards allow users to onboard a fiat option too, allowing them to interchange between paying in various cryptocurrencies as well as fiat currencies. Saving the hassle of switching between cards, Bitcoin debit cards offer the full package.
- Travel convenience
As we mentioned earlier, Bitcoin debit cards can streamline your spending in foreign countries. Let’s say that you use your US based bank card in the UK, you will pay a fee for the conversion of USD to GBP, sometimes incurring fees of up to 3% of the transaction. Bitcoin debit cards can bypass this, simply offering cryptocurrency payments when you’re out of your own country, or another fiat wallet internally linked that allows you to load and spend the local currency wherever you might find yourself.
Oobit Leading The Way
Coming soon is the Oobit Card which allows users to tap into their Oobit balance and spend their funds at any 50 million Visa merchants around the world. Users have the option to load Bitcoin, Ethereum, and many other cryptocurrencies and spend them in a moment’s notice. The card comes with a full history of spending, with detailed statements similar to your normal bank card available in real time. The card can be used for contactless payments, as well as ATM withdrawals, online purchases and in person payments. Join the waiting list to get your hands on the Oobit Card soon.
Join The Wonderful World Of Bitcoin Debit Cards
With the future unravelling each moment, why not tap into it now with the revolutionary Bitcoin debit cards? Catering to newbies, business owners and crypto enthusiasts, Bitcoin debit cards allow anyone to harness the power of cryptocurrencies and use the payment service conveniently, first hand.