Crypto currencies and bitcoin technology became popular in recent months. Indeed, they have many benefits over traditional currencies.
Notwithstanding, in spite of its developing interest, the ease of use of cryptos stays constrained; an obstacle that has shielded it from accomplishing more fast, across the board selection. That may soon change, however, because of the developing fame of crypto debit cards.
Crypto debit cards are similar to regular flat debit cards with a difference that they come with added bonuses cryptocurrencies provide. Instead of being connected to a bank account, as traditional debit cards are, crypto debit cards are linked to a digital currency wallet.
Trive CEO David Mondrus said, “A crypto debit card allows users to use their crypto wallets in a retail setting easily and with low friction. I’ve traveled extensively in the US and abroad using my crypto debit card. It’s been a real life-saver at times.”
One example of it is Centra Card, which supports several popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Zcash, and Dash. Since cryptocurrencies aren’t bound by banking laws specific to a country, crypto debit cards can actually be used in any mainstream commercial environment.
Now, a London based new startup London-startup, London Block Exchange (LBX) launching a new debit card dubbed Dragon card that will allow people to spend cryptocurrencies across the UK.
It will allow people to convert Bitcoin, Ethereum, ripple, Litecoin and Monero to sterling and spend it across the country.
As reports suggest, the card will be linked to an app that allows users to buy and hold cryptocurrencies through the LBX exchange. Customers will also be able to withdraw money using the card.
“We’ll bring it into the mainstream by removing the barriers to access, and by helping people understand and have confidence in what we believe is the future of money.”
UBS banker Adam Bryant said, “We’re offering a grown up and robust experience for those who wish to safely and easily understand and invest in digital currencies. We’re confident we’ll transform this market in the UK and will become the leading cryptocurrency and blockchain consultancy for institutional investors and consumers alike.”