What is a Crypto credit card? Should you choose or simply avoid?

What is a Crypto credit card? Should you choose or simply avoid?

Currently, the market for cryptocurrency is growing very fast all over the world. Crypto Credit Card has come to be used in this cryptocurrency market. Unlike bank cards, crypto credit cards have a number of different features. Let’s take a look at the details of Crypto Credit Card in the money market.

Crypto Credit Card is a type of credit card similar to a bank credit card. The difference between this credit card and the bank’s credit card is that the bank’s credit card can be used for note currency and coin currency and the crypto credit card can be used for digital currency or cryptocurrency. With the help of crypto credit card, first the cryptocurrency will be converted into the currency of that country and then it will be given for payment.

What is a Crypto credit card? Should you choose or simply avoid?

Reward:

Different types of crypto credit cards offer different benefits to their users. For example, Gemini Credit Card offers up to 3% reward on Bitcoin. The BlockFi Credit Card offers up to 1.5 percent rewards on payments for 10 types of cryptocurrencies, including Bitcoin and Etherium.

Ways to cash:

It is also possible to withdraw cash through this crypto credit card. Coinbase was the first to issue such a crypto credit card. They did a crypto credit bar called Shift Card. The balance of Bitcoin is deposited in the shift card and when the purchase is made, the balance decreases accordingly. Shift Credit Card has a transaction limit of 1000 per day. And you can’t withdraw more than 200 from an ATM.

How to get a crypto credit card

Crypto credit cards can be created with the help of Visa and MasterCard. For this, first of all, crypto credit card has to be issued from any crypto organization. Different types of cryptocurrency exchange companies work to issue these types of crypto credit cards.

Higher interest on late payment

Crypto credit card delays can lead to higher interest rates. In case of late payment, late fee has to be paid.

Foreign exchange charges

Although the bank’s credit card is charged for these foreign exchanges, the crypto credit card is not charged for such. Crypto credit cards are not subject to the same additional charges that are levied on bank credit cards.

The value of the reward point

The reward point value of crypto credit cards continues to grow as cryptocurrency grows.

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