A new payment infrastructure has been introduced that operates based on cryptocurrencies, and you can use the offered Visa card to make payments. This credit card allows users to subscribe to Netflix network. There are different benefits and discounts for the holders of these cards, and they can receive numerous scores when using them for their payments. These cards were first released in Singapore in October 2018, and now they are being released in the U.S.
Cryptocurrency Cards on Their Way to Globalization
The mentioned cryptocurrency cards do not cost their users monthly. There is also a complementary application designed for these credit cards that enable users to sell, buy, and store all kinds of cryptocurrencies. According to crypto.com the feedback so far has been great, and about 400,000 people have downloaded this app, and another 125,000 have preregistered to receive these cryptocurrency-based credit cards. According to the news piece published by crypto.com, the holders of the cryptocurrency-based credit cards are also able to use the exclusive music website Spotify.
Based on the card that users register for and receive, a discount for airplane tickets will also be given to them. The successful presence of these cards in Singapore has made their developers to contemplate ways of getting these cards into the markets of the U.S. and Europe. Numerous discounts and scores that are given to users when using these cards will surely be attractive to those who are interested in the crypto world and also those who enjoy discounts.
How Cryptocurrency-Based Credit Cards Work
In order to use Bitcoin or other cryptocurrency-based credit cards, you must first have a cryptocurrency wallet. Then you connect your credit card or debit card of choice to your cryptocurrency wallet and then in any transaction that the cryptocurrency is accepted you will be using this card. According to what has been said so far, using the subscription to Netflix and Spotify has been possible with these credit cards. The advantage of these cards over the conventional and non-digital credit cards is that there is no need for paying transaction fees.
The Future of Cryptocurrency-Based Credit Cards
Currently, it is rather hard to trade and pay transactions using Bitcoin and other cryptocurrency-based credit cards because a lot of the people you would trade with are not willing to use these modern currencies. According to reports the giant credit card company Master Card has licensed Bitcoin transactions. Such measures from the large players of payment and business industry show that the presence of cryptocurrencies in the world can no longer be ignored, and we should slowly but surely await their soar. Even though the crypto market met recession during the last year, but its defect will finally be resolved, and it will continue its path stronger than before.