In the last couple of years, an increasing number of businesses and individuals have started accepting cryptocurrencies as a standard medium of payment.
While digital tokens like BTC, ETH, and others are sometimes considered a “store of value,” they are gradually cementing themselves as a “medium of exchange,” marking the gradual acceptance and rising adoption of cryptocurrencies in our everyday lives.
Recently, El Salvador moved to accept Bitcoin as a legal tender, transforming how service providers and consumers perceive cryptocurrencies. Following this historical landmark in El Salvador’s and Bitcoin’s chapters, prominent brands like Dominos, Starbucks, McDonald’s, and others began adding crypto-payment gateways, allowing users to pay using BTC.
Earlier, there were only a handful of online platforms or real-world outlets that accepted crypto payments. Yet, conditions are changing for the better as leading payment service providers from the traditional finance (TradFi) ecosystem, including PayPal, Visa, and Mastercard, partner with crypto service providers to introduce a wide range of solutions. Together, these efforts endeavor to help the global population transact in cryptocurrencies with the same ease as fiat currencies.
Other than El Salvador’s move, the COVID-19 pandemic has also played a crucial role in helping more businesses and individuals open up to the idea of “accepting cryptocurrencies as payments.” This is not just great news for the crypto community but also a promising step that has the potential to establish a fully decentralized peer-to-peer network – no banks, no commissions, and no delays.
The problem with dealing in cryptocurrencies is the technicalities related to operating digital wallets across blockchain networks, understanding gas costs, remembering seed phrases, passwords, and so forth. Due to these inherent hassles, businesses weren’t initially convinced by the benefits of digital assets. However, as blockchains evolve, several projects and platforms are bridging the gap between TradFi and DeFi, gradually connecting the on-chain and off-chain ecosystems.
Leading the charge to bring cryptocurrencies into the day-to-day lives of wider populations is CoinZoom, a highly regulated crypto exchange that operates in 192 countries. The platform has partnered with leading payments service provider Visa to introduce a range of CoinZoom Visa debit cards for its customers in the US and Europe.
CoinZoom And Visa Team Up To Simplify Crypto Payments
CoinZoom, in partnership with Visa, has launched a collection of CoinZoom Visa cards that helps its customers pay for goods and services using more than 40 different cryptocurrencies across more than 53 million Visa-merchant stores globally.
There are five cards to choose from, including Select, Preferred, Gold, Platinum, and Black. Depending on your choice, you can earn between 1% to 5% cashback, paid in the platform’s native ZOOM token, for every purchase.
As a multi-faceted cryptocurrency exchange that supports several products and services, CoinZoom focuses on lowering crypto’s entry barriers while granting users more power to spend their cryptocurrencies. The range of debit cards, for instance, allows users to select any cryptocurrency from their CoinZoom wallet, swipe the card, and earn their reward. In the meantime, CoinZoom instantly converts the selected crypto to USD and processes it at the point of sale.
The debit cards are directly linked to CoinZoom’s other products, including CoinZoom Earn and ZoomMe. For instance, users with Preferred, Gold, Platinum, and Black cards will earn extra interest from their Earn holdings. These users will also get access to ZoomMe Global, CoinZoom’s peer-to-peer zero-fee remittance service, as well as access to new coin listings and promotional airdrops.
Between CoinZoom’s regulatory compliance and Visa’s legacy as a dominant global payments service provider, you can rest assured that your funds are secure and that your debit card will work globally. With more and more mainstream brands starting to accept cryptocurrencies, it is time you ordered yourself a debit card so you can finally start spending the assets that you have been holding on to since time immemorial.
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