The concept of cryptocurrency is not a confusing topic anymore. Crypto has taken many utilities other than being an investment model. This includes apps that will be used in trading, go to the website now for more info.
Bitcoin became the first crypto to enter the global investment market. The first currency came as a relief to many. The launch came soon after the recession in 2008. Despite many economic recessions and global ups and downs, the currency did not seem to alter. The currency has been performing steadily for more than a decade now.
Given the performance and acceptance, many other cryptos also entered the investment field. As we speak there are more than 14k+ cryptos in the global market. The total market capitalization of cryptos is running between $2.5 to $3 trillion.
Growth of alternate coins and allied services
With more than 14k cryptos in the global market, the investment model has steadily grown. The growth in cryptos helped many other industries also grow their service lines. Many industries are working on research and development on blockchain. Besides this, there has been a substantial increase in the number of global exchanges. Depending on the size and scale of investments, these exchanges are expanding their offices.
Growth of crypto ATMs
Another allied service that grew along with crypto investment is its crypto ATMs. It allows an investor to buy, sell, and trade cryptos at ease. There is no dependency on crypto exchanges. You just need to have a valid crypto account to start using crypto ATMs.
Use of crypto debit cards
Like crypto ATMs, the use of crypto debit cards is another growing phenomenon. What do these ATMs do? Let us understand in detail the features and operating model.
Features of crypto debit cards
This is a popular and growing trend in the crypto industry now. Since many banking agencies are coming up with restrictions these cards prove beneficial. Crypto debit cards work in the same manner as traditional debit cards. An investor can buy his favorite choice of products and choose to pay through a crypto card. These cards also allow for rewards for every purchase made using these cards.
Yet another version of crypto cards also allows you to earn interest on the number of cryptos held. Another advantage is that most cards allow you to easily convert your crypto tokens. You can go about transferring your tokens to fiat currencies. Like other debit cards, crypto cards also allow you to withdraw funds in fiat currency. It can then be used to make payments at merchant sites for products and services.
Bitlocus and Striga coming together to launch a new debit card
Yes, you heard it right. Two major fintech companies are coming together to make this feat possible. The debit cards will go live for users in the European area across the globe. This Bitlocus debit card is backed by Visa card capabilities. It allows users to use their cards on more than 65 million merchant companies. Investors will be able to make use of the cards on Point of Sale machines. Additionally, the card is also capable of enabling online transactions through cards. Like any other debit card, an investor can also use the card to withdraw funds from the ATMs.
As per communication released by Bitlocus, the new debit card will prove beneficial. It will allow retailers and business clients to benefit from using the card. Commercial clients and companies can even use their logo on corporate debit cards. For retailers or individual clients, the card works on all stations that are Visa enabled.
With a digital payment system taking over the globe this launch is a perfect fit. The relationship between Bitlocus and Striga dates back years. Striga’s CEO also confirmed that the new partnership will enable global growth.
Bitlocus also made it clear that the company is all set to make its global launch. The team is working on handling certain logistics and other security requirements. As part of the launch, Bitlocus will focus on both virtual and physical cards. The registration process will start soon making the card reach as many holders.
General hygiene for crypto debit cards
Before enrolling to buy a crypto debit card, let us look at certain general hygiene points.
Crypto debit cards allow you to spend crypto or convert your crypto to fiat currencies. ATM withdrawal is much easier with reduced charges.