There is no denying the fact that cryptocurrencies are becoming popular and readily used modes of payments. This is because of some obvious benefits and advantages associated with such methods and modes of payment. However, this is a new concept and not many people are aware of this. There are many ways by which payments are made and received in a cryptocurrency environment. These include cryptocurrency wallets and cryptopay credit cards amongst other options. In this article, we will try and have a look at Cryptopay card and we hope it will give the readers some idea about the reasons as to why this could be the way forward when it comes to making payments using cryptocurrencies.
Payment gateways are becoming the most common ways for receiving and making payment in a cryptocurrency environment. These gateways are different from conventional gateways that use legal tender money for making and receiving payments. Though initially such cryptocurrency gateways catered only to certain brands, today, they accept almost all big names of cryptocurrencies. This is because the advantages and benefits that cryptocurrency offers is quite evident.
It does offer customers a new way of payment. Dealers and retailers, (big and small) will find it easier to bring in new customers who make use of cryptocurrencies as a mode of payment. Further, the payments will be discreet in the absence of credit card and other such statements that could become shareable with the general public and other unwanted persons. These payment methods are safe and they remain in blockchain ledger permanently.
What is A Cryptopay Card
When we talk about cryptopay card, we are actually referring to a card that supports some major brands of cryptocurrencies. As of now four major names of cryptocurrencies are being handled and it will not be long before some more names are added to the list. Further, as of now cryptopay cards support three major currencies and they are GPB, Euro and USD. Crypto pay is basically a Visa Card. In other words, you can make use of these cards in all those outlets, both online and brick and mortar where Visa cards are accepted. This is great news because, Visa cards are perhaps the most widely accepted means of payment and receipt across the world. However, these cards may not be valid in the USA and they will have to look at other crypto debit card alternatives.
Is It Safe?
Yes, if we are to go by the reports and feedbacks from customers, there are reasons to believe that cryptopay cards are extremely safe. This is because the details of payments and receipts that happen through cryptopay card are encrypted end to end using the most sophisticated 64-bit technology. In other words, there is practically zero risk as the records of payments move from end to another.
Pricing & Fees
There is a cost associated with these cryptopay cards and the fees range from 15 USD for plastic cards and 2.5 USD for virtual cards. The plastic cards also come with a daily limit as far as cash withdrawal is concerned and there are also daily limits as far as top ups are concerned.
To conclude there is no denying the fact that payments and receipts through cryptocurrencies will increase in the years to come. Once this happens, the role of cryptopay card will also become quite significant.