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Data for today’s episode is provided by Mercator Advisory Group’s report – Cryptocurrency: A New Growth Segment for Prepaid Debit Cards?
Everything to Know about the Emergence of Prepaid Cryptocurrency Debit Cards:
- There are three prepaid cryptocurrency debit cards available for purchase in the US: BitPay, Ternio, & MCO.
- Jurisdiction: Because of how cryptocurrency is regulated, users need to check that their region is supported.
- Ease of Use: Funding options, fees, connectivity to an online exchange, and spending limits can complicate the initial experience.
- Security: Look for protocols such as site encryption, two-factor authentication, and email/SMS notifications.
- Reliability: Bitcoin is only 10 years old. Choose established and respected service providers.
- Fees: Users are still price sensitive and purchase and/or load fees may be prohibitive to adoption.
- Features: All prepaid cryptocurrency debit cards provide the same core functions for spending and ATM withdrawals.
About Report
Cryptocurrency prepaid debit cards are the method of choice for spending cryptocurrency off the blockchain.
A major cryptocurrency prepaid debit card serving the U.S. market closed in 2018. Only a year later, in addition to BitPay, there are two new entrants. Should you be a part of the new Wild West of cryptocurrency prepaid debit cards?