Crypto Credit Card will be available to all consumers who are interested in cryptocurrencies. These credit cards are crypto-linked visa cards used for holding cryptocurrencies. A Crypto credit card connects your Crypto wallet with the cryptocurrency payments processing company. It enables the cardholder to settle transactions but not load cryptocurrency onto their Crypto Visa card. Instead, the cryptocurrency will be converted to the particular cryptocurrency market’s currency and then be loaded onto the Crypto Visa card for purchases and withdrawals.
What is a Crypto Credit Card?
Can you buy crypto with a credit card? Yes, you can most certainly purchase crypto with a credit card, using cryptocurrency exchange of course. A Crypto credit card is a credit card designed to allow users to spend and earn cryptocurrency rewards. A cryptocurrency is a digital currency form of payment and is free from relying on a central monetary authority. The most popular form of cryptocurrency exchange is Bitcoin which can be traded using the Crypto credit card. The Crypto credit card allows crypto traders to monetize their crypto assets when staking CRO without losing them to other traders, this consists of paying back at any pace with a lower interest rate.
When will the Crypto Credit Card be Accessible?
The Crypto Credit Card will be accessible later this year with two cards available: the Gemini Credit Card and the BlockFi Bitcoin rewards card. The application for the Crypto rewards card requires potential users to go on a waitlist. The BlockFi Bitcoin rewards card is the best bitcoin card and will allow the cardholder to earn 1.5% on Bitcoin purchases, as well as a $250 sign-up bonus within the first three months of the sign-up. The Gemini Credit Card pays 3% back on Bitcoin and other cryptocurrency purchases and does not charge any crypto rewards exchange fees.
What are the Pros and Cons of the Crypto Credit Card?
The Pros of the Crypto Credit Card can benefit the cardholder in ways that are profitable to their financial health and include the following:
• No credit check
• Earn rewards
• Easily convert cryptocurrency assets to spendable funds for purchases
• Additional bonuses such as rebates on subscriptions
• Money reimbursed for any fraudulent activity
On the other hand, the Cons of the Crypto Credit Card can put the cardholders fund at risk including the following:
• High transaction fees
• Card not universally accepted and depend on a particular cryptocurrency market’s currency
• Card depends on a coin base account
• Can not build a credit history
• Required use of Crypto Tokens
Should I apply for a Crypto Credit Card?
You should only apply for a Crypto Credit Card if it will benefit your spending habits and promise true rewards. Trading Cryptocurrencies undoubtedly have an effect on your current and future financial health. For this reason, consumers should do thorough research when searching for the most suitable Crypto Credit Card.
