So advanced is the blockchain technology that cryptocurrencies cannot only be kept and spent using hot wallets but with a plastic card as well.
People usually use credit or debit cards when they have no cash on hand or simply do not want to spend cash or carry it with them. One blockchain technology firm has launched a cryptocurrency debit card especially developed for spending digital assets.
The cryptocurrency debit card is called BlockCard and has been released in the US. It is remarkably different from other card products because of the coverage of its offer.
The said cryptocurrency debit card backs a line of cryptocurrencies including Bitcoin, Ethereum, Stellar Lumens, and those supported by Ternio. The card can have a minimum deposit of $100 and can be used to pay for travel, retail, services, entertainment, shopping, and hotel.
Anyone who possesses any of these currencies needs to deposit them into their BlockCard account and send them right away using the card. BlockCard can be used either online or in physical store locations worldwide where major credit cards are accepted.
The BlockCard app, on the other hand, enables users to purchase, transfer, store, and monitor their cryptocurrency and more. Utilizing the physical cryptocurrency debit card together with the app is a great partnership that allows users to spend various currencies at many locations worldwide.
Tenio is a blockchain company based in the US founded in 2017. It offers an exceptionally scalable blockchain framework known as Lexicon to enterprise business clients. Current firms in the ad supply chain utilize Lexicon to confirm users, pay publishers at once while protecting advertisers against ad fraud.
COO and Ternio founder Ian Kane said, “Ternio’s goal is to accelerate the use of blockchain and cryptocurrency into everyday life. BlockCard enables the cardholder to gain real utility from their cryptocurrency and removes the notion that crypto is only a speculative asset.”
There is no interruption in the process of transacting inclined to impede possible consumer blockchain-based finance products. Ternio is sidestepping the downtimes by acquiring a cryptocurrency exchange that can easily speed up payments.
Ternio is considering to back more cryptocurrencies during the course of the coming decades and further. The BlockCard is currently available in the US and anyone interested can apply with the assumption of eligibility.
Holders of the card can either have a virtual or physical card. Likewise, those who prefer a physical card will have the option to choose either a metal or plastic version of the Blockcard.