The Concept: Imagine this—every time you get a new physical or virtual payment card (credit or debit), it comes with a Bitcoin QR code on it. This QR code represents a unique Bitcoin address, created and managed by Yubikey. Here’s the cool part: any Bitcoin sent to that address is instantly converted and deposited into the bank account associated with that card.
I have several questions.
1. Does that mean you need to send Bitcoin address (generated by Yubikey) to the company which issue the physical or virtual payment card?
2. If private key used to generate the address only stored on Yubikey, how exact the conversion (from BTC to fiat) happen? Do you need to plug Yubikey to computer or phone and use software which automatically send Bitcoin to the exchange, sell it to fiat and send the fiat to the bank US?
3. Are you aware that several custodial service (usually payment gateway) already offer feature to convert received BTC to fiat automatically?