Have You Tried The Bitcoin Debit Cards?
Yes, we are living in exciting times. First, it is bitcoin, the cryptocurrency which has no physical existence and yet has the power to purchase goods and services across the globe. And now Bitcoin debit cards which are set to emulate the physical debit card which is a common sight everywhere today. In fact, if you wish to spend your bitcoins you need this debit card. They are easily available in all bitcoin exchanges and work like any of the other plastic cards at online stores and other physical stores equipped to handle this hot technology.
How does it work?
Like everything in the bitcoin world revolves around the wallet, the bitcoin debit card to requires the bitcoin wallet. Once your wallet and your debit card are linked you can use the card anywhere cards like Visa and Mastercard are accepted. Basically, the debit card allows you to use your bitcoins to make purchases like a normal credit card.
Almost all major processing networks are backing this technology and hence the card functions similar to a regular credit card. Transaction fees will apply every time you use the card.
Should you get your own card?
Here are three reasons that state why you should try the bitcoin debit card
- What use is your bitcoin in a wallet if you cannot use it to purchase anything of your choice. With the debit card, that hurdle is overcome and you can use it anywhere as a regular credit card.
- If you value your privacy more than anything the card can be of help as it provides complete anonymity to its user. These cards do not carry the name of the holder hence no one will ever know who you are should you use the card.
- The transactions costs on these cards are comparatively lower.
How does it differ from the regular credit card?
Probably the biggest difference is that even if you purchase the same time every day your statement will appear differently because of the volatile nature of bitcoin and the associated price fluctuations. Hence, it is paramount that you keep track of your bitcoins and your regular currency to ensure that you have sufficient balance for all your purchases.
Since bitcoin is still in its initial stages, not every merchant accepts these cards unlike the Visa or Mastercard or other major cards. Currently, the options for bitcoin debit cards are limited but the future can unfold brighter for this card. For now, if you are interested in just investing in cryptocurrency read the review of the best-automated trading robots before reaching a decision.