{"id":306831,"date":"2021-07-24T01:00:00","date_gmt":"2021-07-23T22:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\/"},"modified":"2021-07-24T01:00:00","modified_gmt":"2021-07-23T22:00:00","slug":"altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\/","title":{"rendered":"# Altcoin roundup: Crypto credit cards could be the missing link to mass adoption"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f5840b2c9c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f5840b2c9c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\/#Debit_cards_tap_into_crypto_holdings\" >Debit cards tap into crypto holdings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\/#Crypto_credit_allows_hodlers_to_continue_accumulating\" >Crypto credit allows hodlers to continue accumulating<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\/#Legacy_networks_will_eventually_integrate_blockchain_technology\" >Legacy networks will eventually integrate blockchain technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\/#Want_more_information_about_trading_and_investing_in_crypto_markets\" >Want more information about trading and investing in crypto markets?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Altcoin roundup: Crypto credit cards could be the missing link to mass adoption <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNDA2YTlmYWMtOGZmOC00YjllLTg2MDAtMzNjOGE0OGNlNTAzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Out of the many routes available to the mass adoption of cryptocurrencies, which includes decentralized finance (DeFi), layer-one protocols, nonfungible tokens and stablecoins, perhaps the simplest and most <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>licable path for the public at large is the ability to utilize cryptocurrency for everyday purchases with an integrated debit or credit card.<\/p>\n<p>2021 has seen a growing number of companies offer cryptocurrency-based credit cards that give holders the chance to tap into the value of their cryptocurrencies for daily purchases, but is this just the latest gimmick being used by businesses to earn a buck or a real sign of mass adoption?<\/p>\n<p>While the traditional financial sector isn\u2019t discussed much in this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter because its focus is on exploring the various sub-sectors of the cryptocurrency ecosystem, crypto assets are quickly becoming a new investment class recognized by the global financial system.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Debit_cards_tap_into_crypto_holdings\"><\/span>Debit cards tap into crypto holdings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It\u2019s important to clarify the differences between the card services offered by some of the largest players in the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> including Crypto.com, BlockFi and Coinbase. <\/p>\n<p>Debit cards like the one offered by Crypto.com allow users to convert their cryptocurrency holdings to a stablecoin that can then be transacted on Visa\u2019s global network. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">You can now top up your card with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ADA<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DOGE<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MATIC<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UNI<\/a>, along with 12 other new supported stablecoins and tokens! <\/p>\n<p>Available in the US, Europe, UK, Canada, Singapore and APAC. <\/p>\n<p>Details  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ChXzOjfxlB\" data-amp=\"https:\/\/blog-crypto-com.cdn.ampproject.org\/c\/s\/blog.crypto.com\/introducing-17-new-supported-cryptocurrencies-for-card-top-ups\/amp\/\">https:\/\/t.co\/ChXzOjfxlB<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qTVsXfy4KZ\">pic.twitter.com\/qTVsXfy4KZ<\/a><\/p>\n<p>\u2014 Crypto.com (@cryptocom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptocom\/status\/1417408944289505305?ref_src=twsrc%5Etfw\">July 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Coinbase card and crypto debit card offered by Uphold provide a similar service, with both offering rewards for use in the form of a percentage of each purchase, paid back in Bitcoin (BTC) or another cryptocurrency, depending on the platform. <\/p>\n<p>Being able to make purchases with your holdings may help bring a good use case to the cryptocurrency ecosystem, but it also goes against the \u201chodl\u201d nature of many investors who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.investopedia.com\/terms\/g\/greshams-law.asp\">subscribe<\/a> to Gresham\u2019s Law that \u201cbad money drives out good money in circulation.\u201d <\/p>\n<p>When it comes to which money is spent and which money is saved, good money, or cryptocurrencies, in this case, will be saved while fiat currencies will be spent in daily transactions. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_credit_allows_hodlers_to_continue_accumulating\"><\/span>Crypto credit allows hodlers to continue accumulating<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Credit cards like the recently launched BlockFi Rewards Visa Signature Credit Card do not require an upfront conversion of a user\u2019s crypto holdings to pay for transactions. Instead, it offers a credit limit with an attached interest rate. <\/p>\n<p>Gemini exchange plans to offer a BTC cashback rewards card on the Mastercard network. This is another example that has taken the approach of the legacy credit system by offering rewards and charging interest on carried balances. <\/p>\n<p>Users can spend fiat currencies and earn cashback rewards that are paid back in the form of Bitcoin.<\/p>\n<p>Paying in dollars while stacking stats lines up more with the idea of spending bad money in daily transactions while earning more crypto, but it does require users to have fiat currencies to spend. <\/p>\n<p>In the case where someone only has cryptocurrencies, they would be forced to convert some of their holdings to the accepted form of repayment and possibly incur a taxable event, depending on the laws where they live.<\/p>\n<p>Currently, most of the world\u2019s population either still uses the traditional financial system or is part of the large population of the unbanked who are outside of all systems. The injection of blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and cryptocurrency is either adding another step to the process or offering a new way into a financial network. <\/p>\n<p>For die-hard crypto fans that hold as much of their wealth as possible in cryptocurrency, debit card options that allow users to spend their holdings may provide the best option.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Traditional financial system vs decentralized financial system. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/defi?src=hash&amp;ref_src=twsrc%5Etfw\">#defi<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&amp;ref_src=twsrc%5Etfw\">#blockchain<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a><\/p>\n<p>Credits: Financial times <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/1dc0jJxvm3\">pic.twitter.com\/1dc0jJxvm3<\/a><\/p>\n<p>\u2014 BlockchainAssets (@BAXASSETS) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BAXASSETS\/status\/1211618313735823362?ref_src=twsrc%5Etfw\">December 30, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Since many crypto investors work jobs that still pay in fiat currencies, credit card options offer a way to use their income to make purchases while also continuing to accumulate without having to conduct the conversion to crypto themselves. <\/p>\n<p><strong><em>Related<\/em><\/strong><em>: <\/em><em>Bitcoin payments for real estate gain traction as crypto holders seek monetization<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Legacy_networks_will_eventually_integrate_blockchain_technology\"><\/span>Legacy networks will eventually integrate blockchain technology<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Visa and Mastercard have fully embraced the integration of cryptocurrencies and blockchain technology into their networks. Visa recently reported that its crypto-enabled cards holders spent more than $1 billion during the first half of 2021.<\/p>\n<p>It\u2019s possible that in the near future, the entire network could be blockchain-based and users will be interacting with digital currencies on a regular basis without even knowing it.<\/p>\n<p>How it all plays out long-term is anyone\u2019s guess, but the current trend of companies releasing cryptocurrency-related debit and credit cards shows no signs of slowing down. They are a tried-and-true marketing tactic used in industries large and small to help entice new users. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Want_more_information_about_trading_and_investing_in_crypto_markets\"><\/span>Want more information about trading and investing in crypto markets?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Mastercard\u2019s latest partnership to help banks distribute crypto cards<\/li>\n<li>This DeFi platform allows NFTs to be used as collateral for loans<\/li>\n<li>Institutional exchange launches crypto debit card<\/li>\n<li>BlockFI ordered to stop onboarding New Jersey-based customers<\/li>\n<li>Crypto.com deploys its Ethereum Virtual Machine chain testnet<\/li>\n<\/ul>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/altcoin-roundup-crypto-credit-cards-could-be-the-missing-link-to-mass-adoption\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Altcoin roundup: Crypto credit cards could be the missing link to mass adoption &#8221; Out of the many routes available to the mass adoption of cryptocurrencies, which includes decentralized finance (DeFi), layer-one protocols, nonfungible tokens and stablecoins, perhaps the simplest and most applicable path for the public at large is the ability to utilize&#8230;<\/p>\n","protected":false},"author":1,"featured_media":306832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNDA2YTlmYWMtOGZmOC00YjllLTg2MDAtMzNjOGE0OGNlNTAzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,82369,74863,74860,74868,74939,74355,117,73785,4965],"class_list":["post-306831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-crypto-credit-card","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-market-analysis","tag-adoption","tag-business","tag-markets","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/306831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=306831"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/306831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/306832"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=306831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=306831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=306831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}