💳 Crypto Debit Cards: A Fun Way to Maximise Profit?

💳 Crypto Debit Cards: A Fun Way to Maximise Profit?

By BrynnB | The Modern Crypto Man | 6 Sep 2020


The bull market is here. DeFi and yield farming have confirmed that. Greed is in the air, and it's very likely that October will bring with it a significant rise in the price of BTC & ETH. For us peasants, this means buying now can allow us to sell the highs. But for the elite - the true crypto chads - their crypto debit cards give them a new avenue of maximizing profits. 

All jokes aside, crypto debit cards are taking the world by storm. The recent purchase of Swipe.io by crypto behemoth Binance, as well as their planned crypto card using the Swipe platform, are just one example of this. But if we are being entirely honest, the technology still has ways to go before mass adoption. Many countries are still excluded from the debit card issuance (South Africa being one of the worst!). We, here in SA, currently have 1 (ONE) card that is available, and it's from a semi-small exchange run locally. International cards are few and far between, and finding companies that offer the service is incredibly difficult. I've downloaded no less than six wallets with crypto cards attached as a value-add - only one allows for international shipping of the card (it's Crypterium, if you're wondering). Needless to say, crypto cards are not in every cryptocurrency junkies' wallet at the moment. Although I am very hopeful that this will change over the next 5 years, as adoption rallies and gains more traction.

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One very exciting prospect, however, is that during the bull market, a crypto debit card user can simply spend his/her crypto as the prices rise, a way of "taking profits", if you will. Rather than exchanging for fiat currency or stablecoins, the user simply exchanges it for real-world items of fiat currency value. Overnight, when that 0.1 BTC you had is not worth $1000 but $2500, buying items from various shops etc. becomes a great way to take profits in the real world, not having to meticulously monitor your transactions or balances. Of course, you should be very aware of how much you intend to take as profit, but once the price rises to the moon, be sure to get to that store and take what's rightfully yours! 

"When that 0.1 BTC you have is not worth $1000, but $2500, buying items from various shops etc. becomes a great way to take profits in the real world"

 

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#crypto #binance #swipe #makegains


BrynnB
BrynnB

Young entrepreneur from South Africa, looking to become a blockchain developer.


The Modern Crypto Man
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