The Non-custodial Bitcoin Debit Card by MasterCard would allow its holders to make purchases seamlessly and directly using Bitcoin by making use of the debit card like a regular ATM card transaction. The card is backed by crypto (Web3), funded with crypto, and uses in crypto.
MasterCard is the global issuer of MasterCard Debit/Credit Card. The payment giant launches of a Bitcoin Debit Card opens up BTC holders to more than 100 million existing merchants who support Mastercard for their everyday business transactions.
However, this MasterCard's Web3 Debit Card has come to live with the alliance with Mercuyro - another cryptocurrency payment infrastructure firm. Both firms believe that their partnership could solve Cryptocurrency and Centralization Balancing problems.
Many governments of the world are banning and limiting the way their citizens use Crypto for their everyday transactions because they believe the asset is decentralized which can be easily used for fraud, money laundering and other form of illegal activities.
However, Cryptocurrencies are built on Blockchain technology which is a decentralized and distributed digital ledger that records transactions across many computers of the world in such a way that the records cannot be altered retroactively - making it difficult for governments/authorities to centralized the assets.
Hence, balancing cryptos and centralizations have never been easy. The complexities of this process have been an obstacle for both buyers and sellers as it limits both choice and the purchasing power of stored crypto. Now, MasterCard and Mercuyro have gotten a by building a centralized wallets that's backed by Web3 technology to offer a non-custodial crypto debit card.
Features of the MasterCard Bitcoin Debit Card
The initial stage of the BTC debit card is denominated in Euro (EUR). This is because the debit card is set to be launched out to European users in its pilot stage. The card opens up it holders to vast networks of MasterCard merchants and works with any businesses that accept MasterCard as a means of payment.
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It offers flexibility, allowing users to fund the debit card by converting crypto to fiat. In addition to crypto funding, the MasterCard's Bitcoin Debit Card can also be topped up with relevant currency like USD, GBP and EUR. As the holder, you can access your credit line based on your crypto holdings. You'll also earn reward using the BTC Card.
However, it's important to let you know that the card comes with a 1.6-euro ($1.8) issuance fee, a 1-euro ($1.1) monthly maintenance fee, and an off-ramp transaction fee of 0.95%.
Despite these charges, the card still offers unique benefits and features that make it a valuable option for users. You can also enjoy greater freedom, control, and simplicity in managing your crypto assets for everyday transactions through the convenience of the new MasterCard's Bitcoin debit card.
In nutshell, Mastercard provides strong protections, support for partners in launching crypto card programs, and broad network acceptance. The card gives consumers freedom in managing digital assets securely and easily, with customizable card designs and seamless access to self-custody crypto balances.
