The topic of Artificial Intelligence has grown a lot in the Cryptocurrency Market and projects such as Worldcoin and SingularityNET are on the rise. Check out our opinion on the Future of this topic.
How Does a Cryptocurrency Credit Card Work?
06/26/2023
Many companies in the Crypto Market - essentially the Exchanges - are going after the creation of Credit Cards to encourage investors and enter deeply into this market. Find out how it works!
How Does a Cryptocurrency Credit Card Work?
What is a Cryptocurrency Credit Card?
In 2021, the company Crypto.com had a lot of media repercussions, due to its Credit Card that would work through Cryptocurrencies. The main crypto to use is Cronos - and we're not talking about the Greek God of Time.
Cronos (CRO) is the cryptocurrency of Exchange Crypto.com and is very similar to Binance Smart Chain (BNB). And for those investors and holders of crypto (who had a relevant amount), they could request their credit and debit card to use on a daily basis - very similar to what we are used to.
Shortly thereafter. in january 2023 came Binance (the biggest cryptocurrency exchange in the world) and launched their card! This is definitely becoming fashionable. I wonder which will be the next Exchange that will launch its.
These brokerage credit cards work in a very similar way to traditional cards, however, their differential is: payment can also be made through cryptocurrencies, not only fiduciary currencies such as Dollar and Euro.
Related:
Is Investing in Cryptocurrencies Worth It?
10/09/2023
Is Investing in Cryptocurrencies Worth It? This is a question that many new investors ask themselves, after all, when the market is down, it is normal for many to be full of uncertainties and doubts.
How does a Bitcoin and Altcoins Mixer Work?
09/11/2023
How Do Bitcoin and Altcoins Work? There is not only Tornado Cash, however, this topic is gaining a lot of repercussion due to the negative news. Let's explain to you now what they are!
What is the Best Platform for Storing DApps?
08/01/2023
What is the Best Platform to Store Decentralized Applications (DApps)? There are a multitude of platforms and, we will highlight in this article: Ethereum, Polygon and Binance Smart Chain.
How to Apply for a Crypto Credit Card?
To Apply for a Cryptocurrency Compatible Credit Card will depend a lot on which Exchange you intend to use. In the case of Crypto.com (which is a bit more boring and selective process), you will need to have CRO Tokens locked in the exchange for 180 days. Furthermore, it is a significant amount and not accessible to all investors.
Today, the easiest option - without a doubt - is through Binance Brokerage! As the Exchange itself says, "it is an accessible card for all Binance users", with that, it is a more accessible card. The only caveat to requesting the card is that you will have to carry out the Identity Verification, and this is a little "bad" for users looking for decentralization.
Binance has already shown itself to be in favor of this path and is increasingly centralized. The cryptocurrency market is very broad and you can find users both in favor and against centralization of the exchange, so these are the easiest cards to apply for.
Is it worth having a Crypto Card?
The question you should ask yourself is: Why not have a Credit Card that works with Cryptocurrencies? After all, we already know that this market is the future, so why not get ahead and guarantee your card? Maybe up front, these cards will even be a historical heritage.
We cannot guarantee you with absolute certainty what the next few years will be like, but we believe that the adoption of cryptocurrencies will be much greater than it is today, including buying in establishments with cryptocurrencies and tokens will be increasingly growing.
Many businesses already accept bitcoin, ethereum, cardano and other cryptos as a means of payment and you won't be able to stay out. If you are an entrepreneur, open your mind and don't be left behind!
Therefore, it is very worthwhile to ask for your Credit Card and start using it to encourage these companies to continue investing in this sector and make our crypto market more and more recognized and reach its due merit!
Lucas Lippe
The idea of freedom is fascinating and Bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.
Also check:
Disclaimer:
Cryptocurrency investments are risky. The Bitcoin Lovers website is not responsible for the quality of the products or services presented on the pages and cannot be held responsible, directly or indirectly, for any damage or injury caused after the use of a good or service highlighted in this or any other article. Cryptocurrency related investments are risky in nature, readers should do their own research before taking any action and invest only within the limits of their financial capabilities. This page or any other article does not constitute investment advice.
AMF Recommendations: There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of that savings. Do not invest if you are not willing to lose all or part of your capital.