How do Crypto Debit Cards Work?

Until recently, participants looking to utilize their digital assets toward the purchase of goods and services in the traditional economy first needed to convert them into fiat currency.

This was often done using a vetted exchange, such as CEX.IO, which also provides trusted vectors to buy and sell crypto. This could be further complicated by the waiting period involved before that value was credited to their bank account or linked payment card.

Crypto debit cards explained

A crypto debit card is a payment card that enables participants to use their cryptocurrency holdings to conduct daily transactions. This is achieved by converting available digital assets at the point of sale to the accepted fiat currency designated by online or brick-and-mortar merchants. Crypto debit card users don’t need to convert their assets in advance or wait for approval — such payments are instant. Crypto debit cards can establish intuitive bridges between traditional and decentralized financial systems by allowing transactions to flow seamlessly between both worlds. In other words, crypto debit cards can conveniently integrate the digital economy into the daily lives of digital asset enthusiasts.