Confused about Bitcoin credit and debit cards? We have the answers
The world of digital currency is ever-changing. Add to that the complexities of modern technology and you create one of the most difficult industries to navigate. With a little help, you can know everything you need to about Bitcoin. One common question people have is “how do Bitcoin credit and debit cards work?” Well, we’re about to give you the answer. Let’s dive in!
How Do I Get One?
The first step in acquiring a Bitcoin debit card is to open a Bitcoin wallet. Then, you’ll need to get a Bitcoin-capable debit card. There are a few options out there, like Cryptopay, SpectroCoin, and Uquid.
Make sure that you do your research and find out which one will work best for you. Once you’ve received your card, you can connect it to your Bitcoin wallet.
How Do They Work?
Bitcoin-capable debit cards function similarly to other prepaid cards. You simply load a desired amount of currency onto the card. Then, you can use that money at any store that accepts your particular method of payment.
Depending on the company you decide to go with, you may have to pay fees for certain transactions. For example, SpectroCoin has a no-loading fee policy. However, other companies do charge you each time you load currency on to your card.
Are They Going to Change?
As with any form of modern technology, Bitcoin debit cards are bound to change. One thing that is currently in the works is a Bitcoin credit card. Because credit cards only allow purchases to be made in U.S. dollars, it could be a while before we see one.
A few companies, like American Express and Mastercard, do have patents pending for a Bitcoin credit card. There is even a rewards card in the works. Overall, we expect to see big things happening in the world of cryptocurrency.