How Hard Is It to Use Cryptocurrency in Real Life?
Many cryptocurrency enthusiasts only use their coins and tokens as a means of either storing value or trading, forgetting that they are meant to act as an alternative to fiat. People rarely choose to spend their cryptocurrency unless they are trying to buy more coins, but if the market is to flourish this needs to change.
This is a press release provided by Torus.Solutions
The reason this happens is not that people want to hold onto their money, but instead because they think that spending crypto in the outside world is a chore. People still believe that to use it in a shop you would have to take out your phone, scan a couple of QR codes, and then wait for the first few confirmations to arrive. This is significantly more complex and tiresome than using standard fiat. There is also the fact that most shops still don’t accept any cryptocurrency. You can’t just walk into any bar, restaurant, or supermarket and assume that they will take your Bitcoins.
These two facts have left people no longer even trying to spend their crypto outside, but the truth is that it is these are no longer such problems. Nowadays, cryptocurrency can be spent in almost all shops with a great deal of ease.
With the creation of crypto debit cards, spending crypto is a pleasure. Crypto cards work the same as standard fiat debit cards, with one difference: they hold both crypto and fiat together. In the same way as your regular debit card allows you to spend money from your bank account, a crypto debit card allows you to spend Bitcoins from your wallet. Crypto cards can be used in any location which accepts regular cards, including shops, restaurants, public transport, and even ATMs.
Currently, Wirex is the only competent crypto debit card service on the market, as many of its competitors have been hit by numerous setbacks. Wirex provides users with a crypto debit card which can hold both Bitcoin and Litecoin, as well as fiat cash – the card is contactless, and runs in conjunction with VISA. People can also make use of Wirex’s mobile app, which gives customers a greater control over their money.
The Wirex card gives users the freedom to do whatever they wish with their cryptocurrency. No longer are people forced to only use crypto in shops which support it, they can now spend it wherever they want. This is the type of tech innovation which will help cryptocurrency grow massively as an industry as well as gain the recognition and appeal of the general public.
Image via Wirex
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