They are free and have a virtual format that is managed in a few minutes.What is the main attractiveness
The ecosystem of the cryptocurrencies, even under the uncertainty of the reduction in the price of Bitcoin does not stop and does not hesitate to cross his path with the means of payment.That way, there are more and more options to make daily payments with crypto cards and take advantage of its advantages.The main of them is the cashback, the immediate reinstatement at cryptocurrencies apart from what you have paid, lets begin to put together a small saving cryptocurrencies without any investment.
But it is not the only advantage.To get started, these free cards and prepaid so you do not have any cost.Can be used in physical or digital format, are managed in a few minutes through an app on your phone and carry the mark of Visa or Mastercard so they can be used all over the world.For those who are not banked, this type of card allows them to hire theservices of streamingor other auto-debit, which can only pay with a card.In addition, they also serve as a way to pay withQR, if the load in Market Payment, preserving the repayment of cashback.
The Argentine market continues to accumulate options with these cards, with different variants.The latest release is Satoshi Tango, a cryptocurrency platform the next 28 October will offer virtual Visa card to a million of users who have in the country and expects to distribute to 20,000 plastics before the end of the year.
The Visa card Satoshi Tango allows you to pay with weights or with any of the 15 cryptocurrencies available in the app, with a “playful approach”: to always pay with any digital currency, each purchase has a cashback of 0 to 10% of the amount,random.That is to say, once purchase is made, the app sends a notification informing them how much was returned and was credited in that same time.Includes discounts of 10% to 50%, and promotions in local and retail locations.In addition, there is no cost of application, activation or maintenance.
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“The Visa card Satoshi Tango involves a fundamental step in our path.We work with a lot of dedication to be able to present a new tool that will allow our customers totake care of their weightsof inflation, and it can be used where, how and when they want,” saidMatthias Bari,CEO and co-founder of Satoshi Tango, which also operates in Brazil, Chile and Peru.
The dual card (to pay with pesos or crypto, at your choice), pioneer in the Argentine market is Lemon Card, which since sti launch in November 2021 have already issued 760,000 Visa prepaid cards within sti total base of 1,500,000 users. Lemon processes 45 transactions per minute with its cards.
“With the Lemon Card, we continue to spread the crypto revolution across the country. We took a tool from the traditional system that everyone knows, like a card, and hacked it with blockchain technology to be able to pay in crypto at any business in the world,” Marcelo Cavazzoli , CEO and co-founder of Lemon , told Infobae .
When you pay with your Visa Lemon is immediately receives a refund of 2% of purchase in Bitcoin.The payment can be done with weights, Bitcoin, Ethereum and all cryptocurrencies tied to the dollar (USDC, DAI, BUSD, USDT).Sti most frequent use, explained in the company, those who are on their consumption of all the days in pesos, and so accumulate fractions of Bitcoin.They are also used by a lot of those who prefer to pay directly in cryptocurrencies.
Most of the consumption with the card is made with online platforms, such as Orders Now, Rappi, Netflix, Cabify and the Steam gaming platform. Digital services represent 38% of consumption, followed by supermarkets with 15 percent.
Another digital wallet that combines crypto cashback and card (in this case, Mastercard) is Belo, which with only one year on the market already has 400,000 users, 80% of them between 20 and 40 years old. Designed to be "completely interoperable between local currencies and crypto", its strategy is to offer only 5 cryptocurrencies, "the most curated, to give more security to those who take their first steps in this field.
Those who pay with the Belo card receive an immediate refund of their choice in Bitcoin, Ether, USDT, USDC or DAI between 2% and 21% of the amount, randomly. Like the previous ones, it can be used with the physical format or with the virtual one, loaded in Market Payment.
“Our goal is to offer a digital wallet, with weights, cryptocurrencies, stable coins and a card, all in one, so that people can spend them both in physical stores or for online services. And that this can be something everyday and simple, while they can have a tool to help deal with inflation,” said Manuel Beaudroit, CEO and co-founder of Belo.
Buenbit also recently presented a set of services aligned to its app: Mastercard with cashback, returns of 70% in nuARS or "crypto weights" deposited in the account, "ultra-flexible" loans for granted against crypto deposits and payments with cryptocurrencies without commissions. and with immediate conversion. The Buenbit cashback is set up as a loyalty plan: users are divided into 4 categories and those who use the card the most or who buy the most crypto will receive a higher percentage of cashback that can reach a maximum of 5%.
The development of the "cryptopesos", a stablecoin that follows the value of the Argentine currency, was possible from the alliance between Buenbit, Num Finance, a company that provides the nuARS , and the fintech Grapefruit, which provided the infrastructure so that the Crypto payments are executed immediately in any business.
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“Our card is the center of an ecosystem of products designed to solve with crypto the everyday problems of the people.We are building a secure platform and simple to use that it not only facilitates access to the world crypto, but that makes cryptocurrencies a tool usable in day-to-day with benefits safe and convenient for our users,” saidFederico Ogue, CEO and founder of Buenbit.
According toMatthias Alberti, COO of Buenbit, cards crypto will continue with its expansion thanks to the complex macro-argentina: “allow users to hedgeinflationanddevaluation.When you keep an amount of money insured, we can connect you with the solutions crypto and prepaid cards to go in it to generate returns day.”
A case of another mass cryptocurrency app that was launched to offer daily payments of Bitso, which has over 1 million users in Argentina, and 5 million in Latin America.Added to his menu the option to pay with QR merchants choosing in each operation the currency to be used: weights, digital dollars (USD stablecoins), bitcoin (BTC), ether (ETH) or DAI.If you choose to cryptocurrency, Bitso makes an automatic conversion to Argentine pesos and charges a fee of 0.6%.If you choose to pay directly with weights, there is no charge.This is the first crypto app on offer payments with QR.
“We are accustomed to think of crypto as an option forsavingin the medium or long term.But now the Argentines can live in crypto.To add a QR payment solution to our platform, we are allowing you to protect yourself from inflation and the devaluation and spend crypto in your day-to-day,” notedjulian columbo, Head of Public Policy at Bitso.The app also offers a yield of 8% per annum on the cryptocurrency balance tied to the dollar.
Away from the background discussion about their prices, cryptocurrencies also earn their place in the Argentine market, by accessing other objectives, such as facilitating the everyday expenses and keeping the money transaction in a currency that can provide a hedge against inflation.Cashback is an attraction that works, but it also has limits.To pay the 2 or the 4% of each purchase, the apps should resign the commission to receive as a card issuer and, in some cases, they admit that they should invest, in the manner of a marketing cost that will enable them to expand their portfolio of clients.
A crucial point in the operation of these cards, in addition, it is close to cryptocurrencies to an audience completely away from them, their technology, and even of the “philosophy” that surrounds them.Simply, the snuggles as a way to provide services.“After working for several years in the industry I noticed I was addressing the problem of overcrowding of the cryptos the wrong way, wangting to push the users to experiences that are not human, they are not natural,” saidBeaudroit, Beautiful.“We are interested in that most people who are not being able to access quality financial services to take advantage of what the decentralized finance have to offer and in this way take advantage of the potential cryptocurrencies of the most simple and intuitive,” I explained.
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