Crypto-to-fiat with huobi debit cards

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By A D

There are exciting possibilities for businesses, cryptocurrency enthusiasts, and general crypto skeptics with cryptocurrency credit and debit cards.

Crypto credit cards have clearly entered a new phase of popularity in the last year or two. Credit and debit cards have increased in popularity as a practical mechanism for cryptocurrency aficionados to spend some of their holdings in the real world due to the scalability difficulties that are inherent to public, decentralised blockchains. Due to cryptocurrencies’ rising popularity, the largest financial institutions in the world now provide crypto cards that enable customers to pay with cryptocurrency for goods and services. This recent breakthrough has legitimised this new kind of currency and increased its acceptance and use.

A recent collaboration between the cryptocurrency exchange Huobi and Solaris, a provider of financial services in Europe, resulted in the introduction of a crypto-to-fiat debit card. The project, which has received Visa’s endorsement, enables Huobi users to use their digital assets in retail locations all around the world. Beginning in the second quarter of 2023, users in the European Economic Area (EEA) will have access to the card.

This is not the first cryptocurrency-to-fiat card that is accessible to EU citizens. 2020 saw the launch of Binance’s own cryptocurrency-to-fiat card, which enables Europeans to withdraw money directly from their Binance accounts. Only Americans will be able to use the crypto debit card that Blockchain.com and Visa will be able to issue as of October 2022.

A crypto card functions exactly like any other credit or debit card issued by a traditional bank. Like a debit or credit card issued by a bank, you can use it to make routine purchases. Wherever customers can utilise conventional payment methods, many of these are frequently accepted as forms of payment. These cards often immediately convert the cryptocurrency in your wallet into the fiat money you need to make the payment. As a result, you can use them as payment for both online and offline purchases, including at shops that don’t accept cryptocurrency. In exchange for using their cards to make fiat payments at merchants, several cryptocurrency cards also provide benefits.

The ability to utilise cryptocurrency to make purchases in physical stores and shops is still one of the most crucial uses for digital assets, despite the proliferation of Web3 use cases in the field. Additionally, crypto cards can be used to withdraw cash from ATMs that accept this type of money. These cards are now even more helpful and, in general, a very beneficial payment solution thanks to this choice.

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