- Visa and Coinbase partner to create first crypto debit card
- Debit card could spur crypto adoption and acceptance
Generally, most people would rather use crypto assets as a store of value or as an investment instead of using it to make daily transactions or for payments of goods and services. This is because of its propensity to hold as a major store of value.
However, with the rate of adoption and acceptance crypto assets have gained in today’s world, crypto assets and other digital currencies are on the verge of becoming very close to fiat currencies for their everyday use.
One factor that could boost the level of crypto adoption would be the development of a crypto debit card which would easily facilitate the adoption of cryptocurrency.
Presently, crypto debit cards have become possible because financial payment behemoth, Visa, has joined the fray. Coinbase utilized Visa foray into the crypto market by partnering with them to create a first crypto debit card which was initially only accessible to citizens of countries in the European Union and the United Kingdom.
The partnership has further developed and Coinbase has recently announced that such debit cards would become available to citizens of the United States very soon too. Basically, registration for the crypto debit card is on already, however, the cards will not be issued until winter.
Crypto debit cards will make cryptocurrency easy to use
The development of an everyday financial tool like crypto debit cards will make crypto assets easily accessible and very easy to use by everyday people.
With the development of a debit card, crypto assets will become available for everyday use. People would be able to use their cards to carry out everyday transactions and they would also be able to benefit from the negligee transaction fee that cryptocurrencies attract.
However, Bitcoin’s price volatility could be one thing that could discourage its adoption by users.