Visa to issue Bitcoin-powered cards in 40 countries

Cryptocurrencies, as you know were developed to make instant payments. The transactions are easier and can be undertaken on the web without many hassles. Here is the complete details on Bitcoin-powered cards.

Bitcoin, being the first cryptocurrency aimed to make peer transactions easier. Two people on the network can initiate fund transfers by being anonymous. However, In the past decade, the number of transactions using cryptocurrencies has increased multi-fold. Today, as we speak there are more than 14k+ crypto tokens in the global market. Also, Bitcoin trading, you may consider using a reputable trading platform like https://bitcoinsprint.de

How crypto do tokens work?

All cryptocurrencies make use of blockchain technology to undertake transactions. Also, The philosophy and working model is simple. The transactions are undertaken on the internet using the cryptographic code. Since each of these transactions is unique to its use there is a higher level of security. Additionally, all these transactions are decentralized and eliminate the role of banking agencies. As a buyer and seller in the blockchain platform, you make use of only crypto tokens. Yes, fiat currencies do have a role to play. But it is limited to either buying crypto tokens for fiat or liquidating your tokens for fiat. 

Is it possible to use cryptocurrencies for payment?

This has been a long-standing debate. Crypto tokens in general have payment capabilities. You can buy a product and service in exchange for crypto tokens. Also, This is by far possible on any online shopping site or even at retail stores. 

With the growth in crypto acceptance, many companies have come forward to enable crypto payments. Today, crypto payments are accepted by real estate, automobile, and banking firms. Tesla made heads turn by accepting Bitcoin payments. Also, The price of Bitcoin-powered cards sky-rocketed immediately after Elon’s announcement. However, A similar price hike was seen with DogeCoin. It allowed Tesla users to buy their merchandise. The payment applications were revamped to accept crypto payments. 

Ever since the launch of Bitcoin in 2009, the crypto industry has evolved. There are major developments in this industry making cryptos acceptable to the larger world. 

Using crypto debit cards

Although crypto tokens are virtual money, these tokens still enjoy the same privilege as fiat currencies. With an increase in the number of crypto users, various other allied services of cryptos grew. This includes the introduction of crypto exchanges to buy and sell cryptos. We also have Bitcoin-powered cards ATMs installed across the length and breadth of various cities. Alongside, there are also crypto banking services that enable payments easier. One such allied service of crypto tokens is the crypto debit cards. The concept is simple and works similarly to a bank debit card. 

With crypto payments and cards taking center stage, you need to learn a little more about Wirex. 

Wirex, launched in 2015 has a long history with decentralized finance. In 2015, the company went ahead to launch its first cryptocurrency card. Following the success of this change, the company was able to establish a large market share. After three years, the company went ahead to launch its royalty program. By end of 2021, Wirex was able to build a database of 4.5 million users globally. This is a milestone in their graph of engagement with cryptos. The ecosystem has more than 50 tokens to its credit. 

Along with other regulatory needs, Wirex has a partnership with major companies. Both Visa and MasterCard played an integral part in building their market share. Wirex holds the status to obtain the principal membership. 

Visa to issue Bitcoin-powered cards

Yes, you heard it right. Visa has come forward with its plans to establish Bitcoin-powered cards. The plan is to establish the project in 40+ countries in the current phase. 

Wirex has been identified to expand this project along with Visa. According to a recent press release, Wirex shall be working with Visa to expand in UK and APAC. This partnership will also open doors for various other collaborations and benefits. 

Wirex, today supports all major crypto tokens including Bitcoin, Ethereum, Shiba, and Uniswap. Wirex’s crypto-enabled cards provided users with more than 8% offers for every purchase. 

The company spokesperson confirmed that they are looking at opportunities to expand operations. The company will try to bridge the existing gap between cryptos and traditional payments. 

The world of cryptocurrency is growing. We hear a new advancement every day. To follow more about cryptocurrency, browse through Bitcoin-powered cards