Cryptocurrency has been going strong for years now, since the gradual increase of bitcoin’s popularity, it managed to turn a few important necks toward it. At first, banks wanted little to do with cryptocurrency, then over time, they began to become curious about how they can use the blockchain process to upgrade their own. The cryptocurrency that made a lot of banks to reconsider how they should view cryptocurrencies was Facebook’s coin, known as Libra. Cryptocurrencies have nothing to limit them compared to traditional fiat currency, this made banks feel that they will lose the competition if they decide not to adopt some of the concepts that make cryptocurrency attractive to the average consumer. Transactions between credit/debit cards and entities that handle bulks of cryptocurrency are becoming more acceptable and developed. We’ll be giving you the top 4 ways that you can use to convert cryptocurrencies to your debit/credit Mastercard.
Cryptocurrency ATM
The best way to describe a cryptocurrency ATM is that it’s exactly like a traditional ATM but for cryptocurrencies. The first version of these ATMs was a bitcoin ATM, it only allowed buying bitcoin using cash, as the popularity increased, bi-functional ATMs came into life. There are now ATMs that can connect to your bank account to allow transactions between your credit/debit card directly; buying and selling of different cryptocurrencies like Bitcoin, Litecoin, Ethereum and more is now permissible. The convenience of ATMs may not be available in your location which is a major downside, in addition to the fees that are relatively higher than online services.
Online Services
Using online platforms to convert your cryptocurrency to fiat currency is the most popular solution that most people prefer. There are some trusted platforms that allow connecting your credit/debit card to their systems, in addition to providing smartphone applications that facilitate the conversion process to be used at any location or time. The conversion of BTC to USD or vice versa is now being watched closely, www.diamondfx.com shows the relationship between different cryptocurrencies and fiat money. The best advantage about using online services is that you’ll find almost any cryptocurrency you’re looking for. The conversion fees are dependent on the website itself, but they are relatively close so you have some leeway while choosing a platform.
Crypto Debit Cards
Crypto debit cards are the most versatile option when you’re looking for a stable wallet that can be used almost everywhere. Mastercard debit cards allow you to deposit cryptocurrency directly to them while converting the crypto coin to a fiat currency. Popular cards like Mastercard allow you to use a currency that may not be accepted by most vendors, whether these transactions are offline or online. You may be overwhelmed by the different brands or companies that offer crypto cards, but this fog will easily be removed once you spend some time researching your best options.
Selling Cryptocurrency Online
Selling your cryptocurrency online to other people may not be the most convenient option but it’s the option where the fees are kept to a minimum. There are a lot of websites that allow you to put your own fees and conditions of selling your cryptocurrency to other people, in addition to directly transferring the money exchanged to your Mastercard debit card, crypto debit or not.
Thanks to the wave of acceptance of cryptocurrency as a viable way to execute transactions, different entities like banks and shops are accepting it. You won’t have to go through different stages of conversion just to get the money to your Mastercard.
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