Advantages of Bitcoin Debit Card
The rising popularity of Bitcoin has engulfed the world with its many scopes of day to day usages. A Bitcoin Debit Card allows the user to use Bitcoin as a means to add appropriate funding to the prepaid balance in his or her account. While very few merchants and business organizations have started using and accepting Bitcoin globally, it also holds true that almost every merchant accepts a debit card. The most alluring facet of a Bitcoin Debit Card is that the merchants who are accepting the card are paid in the currency that they prefer. The debit card company debits the spent amount from the user’s prepaid Bitcoin balance.
Offering a plethora of advantages over the old way of exchanging Cryptocurrency at exchanges for fiat money, the Bitcoin Debit Card emerges as a true wonder. Accumulated here, are some of the most prominent features of the Bitcoin Debit Card.
The Bitcoin Debit Card gives the users freedom to spend a bunch of Cryptocurrencies on different businesses which they decide to support globally. It sets the users free from the exchange rates that are offered by different cryptocurrency exchanges. Global businesses who accept debit cards are more than glad to exchange goods and services in exchange for fiat currencies, thus enabling the Bitcoin Debit Card to let the users buy almost everything.
The Bitcoin Debit Card eliminates the need to constantly visit different Cryptocurrency exchanges for the best exchange rates. The card lets users pay bills, buy groceries, spend in lifestyle and fashion without having to worry about competitive exchange rates. Besides, users can easily withdraw money from ATMs. Minus the conversion fees, life would be much easier while users depend solely on Bitcoin and other Altcoins holdings for their day to day transactions.
The Bitcoin Debit Card also has been powered by either Visa or MasterCard. This makes it usable and convenient over thousands of vendors who accept Bitcoins but are rare to be found. Most businesses all over the world accept Visa and MasterCard as compared to accepting Bitcoin. With the Bitcoin Debit Card, users get a lot of choices like spending Ethereum, Bitcoin or other Altcoins. This method enables users to liquidate any of the crypto holdings that they wish to.
Bitcoin Debit Card also offers protection against inflation. Raj Chowdhury, The Managing Director of HashCash Consultants, a California based company says
“Fiat currencies are prone to inflation as they are volatile assets. On the other hand, Bitcoin and other Altcoins are not prone to inflation. In fact, Cryptocurrencies can be held by users for as long as they want to or can be exchanged when the exchange rates are the best.”
The Bitcoin Debit Card facilitates the adoption of Cryptocurrency in the mainstream. Once a thing to hoard, Bitcoin Debit Cards pay merchants in the preferred fiat currency while deducting the equivalent amount of Bitcoin balance from the user’s account. This lets the circulation of Cryptocurrencies be smoother and faster.
Cryptocurrency based Debit Cards also offer smart reward points that let the user use these points to pay for other services. Different schemes empower the buyer to take the best deal that is available in the marketplace. Bitcoin Debit Cards also lets users remain anonymous while spending on services or goods through Bitcoin.
It has been found that 2.5 billion adults globally do not use any kinds of banking services. Despite having access to smartphones or cell phones they are known not to use any kinds of banking services, thus opening a huge potential market to be tapped by the Bitcoin Debit Card framework.
