If you happen to dabble in cryptocurrency then you will be glad to know that there has been a new cryptocurrency payment method launched. It has been done entirely with the support of Mastercard and this gives you the chance to spend whatever value of crypto you have, but without selling it in a traditional sense. The card was created through a partnership with
Mastercard and Nexo. The Nexo Card is being touted as being one of the very first crypto-currency backed payment cards on the market. If you have a physical NEXO card then this is available but you can create a virtual card for yourself by activating the link. You can then connect it to Apple Pay or you can connect it to your Google Play account.
It is very easy for you to use the card to pay for goods, just as you would with a normal credit card and you can also use your cryptocurrency as collateral. This will be accepted just about everywhere that Mastercard is.
Inactivity Fees
The main thing you need to know is that with this type of card, you won’t have to pay a monthly fee, nor will you have to pay out for any ATM withdrawals either. An interest fee will be attached to the card you are spending but at the end of the day, it is the rate that is going to be determined by NEXO. This will be done primarily through the loyalty tier. The next thing to know is that you do not need to pay out a monthly payment and that repaying your balance will be done through the app.
Using the Card at Casinos
One fantastic thing to know about this card is that it allows you to enjoy top Mastercard casinos. Every transaction that is made could earn you up to 2% in rewards and you can pay them out in BTC or even NEXO if you want. Again, this happens to be connected to the Loyalty Tier which consists of four different sub-categories.
You have the base level, silver, gold and finally, platinum. Which tier you go into happens to depend on the NEXO tokens that you have in your account. The launch of the card, of course, follows the decision made by Mastercard a few years ago. They wanted to try and make it easier for a bank to launch a cryptocurrency card and they also wanted to facilitate the launch of a loyalty program.
Welcome to the Future
ByBit is the world’s third most-visited exchange for cryptocurrency. They are proud to launch the ByBit Card which happens to be powered by the Mastercard network. This has been issued by Moorwand at the end of the day. The card is going to allow users to off-ramp their cryptocurrency in the flat world as this will help them to make all of the purchases that they need.
They can also take out cash from any ATM however they want. The card allows people to debit whatever balance they have and they can also use it to pay for goods directly. You can make this available for clients in various countries and all they have to do is go through the right AML and KYC procedures.
ByBit as a card is going to be available for a huge range of blue-chip currencies. This happens to include ETH, BTC and even USDC. Of course, any payment requests will convert the balance in the digital asset into GBP or even EUR, but a lot of this will depend on the country of residence.
About ByBit
ByBit launched their free virtual card and this can be used to make any online purchase. You can also use a physical card if you want as well. The plastic cards are going to be sent to clients directly but at the end of the day, you can also use them to access ATM withdrawals if you want. You can spend whatever you want at a merchant’s stall and the spending limit will, of course, be aggregated across the account. If you are a user then you should know that you can access your funds very quickly and you can also access them securely as well which is great.
The company believes that the solutions that they have to offer are going to change people’s lives and that this is going to really mean great things for the future. It is going to rocket the world of cryptocurrency too.