The World's First!!! Cryptocurrency credit card issued by MasterCard
I think many of us have dreamed about it, at least thought that it will happen someday))))
Good news for cryptocurrency owners - cryptocurrency agency Nexo together with MasterCard payment system has launched the first cryptocurrency card with a credit line. What are its features and how does it work?
It is known that a cryptocurrency card can be issued in virtual or physical form.
The Nexo agency announced the release of the world's first cryptocurrency credit card. Helping him in these endeavors is MasterCard, which back in 2018 patented a way to conduct transactions in cryptocurrencies using bank cards.
The cryptocurrency market is developing by leaps and bounds. More and more countries recognize cryptocurrency as a legal means of payment. Therefore, the emergence of cryptocurrencies was a matter of time.
What are the features of the cryptocard.
The main feature of the new Nexo card is that it is essentially the first cryptocurrency credit card. That is, it allows its users to make payments in regular currency without spending their cryptocurrency assets. This means that in transactions, conditional bitcoins act as collateral, not as a means of payment.
Thus, this card can be paid everywhere where MasterCard is supported, even in countries where cryptocurrency payments are not possible for various reasons. According to the company, the client will be able to make purchases at 92 million sellers around the world.
The card itself can work not only with bitcoin, but also with other cryptocurrencies. In addition, the card has the familiar cashback system, but unlike regular cards, cryptocurrency card users will receive 2% in bitcoins or their own Nexo token.
To launch its cryptocurrency card, Nexo is working not only with MasterCard, but also with corporate e-payment operator DiPocket. This company acts as the issuer of the project, which will provide a sustainable ecosystem for the new card.
In addition, the card is also compatible with mobile payment systems such as Apple Pay and Google Pay. The card can be ordered both virtually and physically. The card can be linked to Nexo Wallet's own app, as well as to any other cryptocurrency wallet the user prefers.
However, Kazakh cryptocurrency owners who would like to use such a card will have to wait. Partial launch took place only in some European countries, and whether the company will decide to enter the market of Central Asia is not clear yet. However, Nexo has already announced plans to expand internationally.
The use of traditional payment networks and payment system technologies combined with blockchain-based currencies could give consumers and merchants the benefits of blockchain's decentralized nature.
Illustrative photo: pixabay.com
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17.04.2022.
This is an innovation! We can really see that crypto is developing and adopting worldwide. Now, if cryptocard is a success then it will have a competitor soon which is good.