Crypto Debit Cards are the most common form of a crypto card. These cards give customers the ability to spend crypto in virtually any store, both online or offline and even make ATM withdrawals.
These cards work by instantly converting crypto into fiat at the point of purchase and then using that fiat for the transaction.
For example, if you were using the CryptoWallet.com Card to purchase a cup of coffee, when you tap your card, CW’s system instantly converts any stored crypto you have into fiat currency for its current market rate. In this way, you aren’t actually spending crypto in-store, and the store itself isn’t being paid in crypto. Instead, your card is automatically swapping crypto for fiat, and paying for your coffee with that.
Benefits of Crypto Debit Cards
This clever system has huge benefits for both customers and retailers, as it grants customers access to instant crypto spending, and it gives businesses the chance to accept crypto cards, without having to grapple with issues regarding crypto volatility.
Additionally, many crypto debit card issuers will also offer unique rewards such as cashback options, discounts from certain retailers, rewards points and referral bonuses.