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Blockchain.com launches its cryptocurrency debit card

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Blockchain.com has launched a new cryptocurrency debit card that enables cryptocurrency payments at millions of merchants. The debit cards are distributed by VISA and offer 1 percent cashback on every purchase as redemption.

Exchange company Blockchain.com has finally launched its own cryptocurrency debit card. The new service will be available to users of the U.S.-based exchange and will be produced by the multinational financial services company. Visa.

This type of card allows Blockchain.com users to use their digital assets to make everyday purchases, while the seller receives the balance in fiat money. Cardholders will not have to pay a fee for using the card or for signing up; rather, they will get a 1% refund of the total amount of each purchase if paid with the new cards..

Crypto debit cards work as follows.:

  1. The customer makes the purchase in a store or online by paying with the card.
  2. The exchange house handles the conversion of digital assets to fiat almost instantaneously.
  3. The buyer will lose the amount equivalent to the proceeds of the cryptocurrency chosen for payment.
  4. The seller receives the money in fiat currency.

There is a possibility that the buyer enables payments with digital assets, directly receiving payment in cryptocurrency, but this is a less frequent case.

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Blockchain.com’s charter was one of the most eagerly awaited by the exchange’s customers. At the time of its launch, the waiting list had more than 50,000 requests from U.S. users alone.. The platform has already confirmed that will extend its services to other countries during the coming 2023..

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Blockchain.com joins other exchange platforms that also have their own cryptocurrency debit card. Large exchanges such as Binance o Crypto.com already for several years, other platforms such as: FTX, BitOasis o Eurocoinpay have recently implemented them or are in the process of implementing them.

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