Crypto and Retail in 2020
Ever since I jumped into Crypto a couple of years ago I’ve always looked at ways that I can spend it online or even in a local store. It was always a pain to try and find somewhere that would actually accept a form of crypto,that’s when I stumbled across Visa/Master cards that actually allow you to spend your crypto as if it was like your normal debit card.
There are a few businesses offering this now but I think the two big providers are Wirex and Crypto.com. In a nutshell you can order a physical card, they will send you and using their app you can topup your card, this is done by sending Crypto to your Wirex or Crypto.com wallet, converting that crypto to a local currency like NZD, USD and then you use that to top up the card.
This makes spending crypto a lot easier compared to selling it to a local exchange who will then send it to your bank account which can take awhile, using the card it’s a near instant experiance.
I know this is sounding like a sales pitch but it’s a great step to bring crypto mainstream.
A lot of these cards also offer a cash back system and or a rewards system that you normally only get on special credit cards from the bank. These cash backs can be up to 5% and on the Crypto.com card it actually pays for your Spotify, Netflix and other services depending on the tier you use.
The more people see these cards used the more it comes up in conversation and this will bring up the demand.
Let me know what you think in the comments below or ping me on Twitter, I’m keen to hear your thoughts on Crypto and retail.
The above links are referral links, the Crypto.com link will give you $50 USD towards your Crypto.com card. The Wirex link will give you $10 worth of BTC when you buy $100 worth of crypto on the Wirex App.