Hello,
I'm here to explore the demand for crypto debit card.
The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.
So, would you use one?
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?
Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!
In my opinion, this could be nice in a way, it automatically turn your fiat to cryptocurrency, no need to go to a trading site or app to convert your fiat to cryptocurrency. one good thing that bothers me is the fact that cryptocurrencies are highly volatile, which means that if I borrowed an amount of coin and the market went down, then I would have to pay it in a much higher price, but it is a good thing if the market goes green though.