This new crypto debit card brings low fees and convenience to cryptocurrency payments

cointelegraph.com:

Cryptocurrencies offer several advantages to traditional money, including lower costs, faster transfers, and decentralized systems that do not collapse at a single point of failure. Despite these benefits, many people don’t consider digital currencies practical for everyday use. Moreover, the currently available crypto debit card solutions often require tedious transfers and incur high fees, making the process unfeasible for everyday users. Leading crypto exchange Bybit wants to change that, promising to make using cryptocurrencies more convenient and rewarding for users.

There are more and more companies accepting cryptocurrencies as a form of payment. While there has been some institutional interest, it hasn’t been enough for most businesses to start accepting digital currency transactions. As a result, it is difficult for a cryptocurrency user to make purchases directly with a company using digital currency.

While there are numerous crypto debit and credit cards on the market, the process of using crypto assets in traditional finance and everyday transactions is still not refined. Many platforms that offer cards still require users to transfer their crypto assets to specific accounts linked to the card and convert their crypto into fiat before they can start spending it. Additionally, such accounts often have monthly subscription fees and require users to cover the exchange fees associated with crypto-to-fiat conversions.

According to a recent survey conducted by the Pew Research Center, approximately 17% of Americans have engaged with cryptocurrency. However, most of these individuals have primarily acquired cryptocurrencies as investments rather than using them to conduct transactions to purchase goods and services.

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