Tuesday, 7 May 2024
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Cryptocurrency cards: safe use

Cryptocurrency cards: safe use

Cryptocurrency cards allow you to pay for purchases with cryptocurrencies, even if the seller does not accept crypto assets directly.

 Today, cryptocurrency users in most countries of the world can order and use debit or prepaid crypto cards to quickly convert crypto assets into fiat currency and buy goods and services online, at points of sale, or withdraw money from ATMs. To issue a cryptocurrency card, whether it is Visa or MasterCard, it is necessary to go through the identification procedure (KYC) – this is required by the user’s agreement with the company issuing cryptocurrency cards. Basic KYC verification consists of Identity verification, including providing full name, date of birth, and copy of passport (almost always). Address Verification – Users must upload one or more utility bills, bank statements, or rental agreements (often). Providing information about your monthly/annual income and the source of this income (sometimes). Providing all the required documents and then waiting for them to be verified can take time, especially if the user has just moved, changed jobs, or is requesting a card from another country with documents in a foreign language.

Which card to choose?

Aside from availability for your region, the most important deciding factors in choosing a crypto debit card are likely to be the reputation of the company as well as the fees. Other than that, since most of these cards work more or less the same, there is no “clear winner” or loser.

UK and EU residents are probably best off using the Coinbase Card, while US users will be better off using the long-established BitPay card – at least until the Coinbase Card is available there.

The Trastra Debit Card is a Visa payment card that allows users to receive funds in cryptocurrencies and spend them in euros. Although they are relatively new, the reviews are mostly positive, and the support team is very responsive.

What makes it special is the ability to exchange cryptocurrencies for euros without having to have a bank account. You can receive and store cryptocurrencies in your Trastra wallet and spend them in euros whenever you need to.

So, using a usdc debit card is a great way to start earning daily cryptocurrency profits.

Rules for safe use of a cryptocurrency card 

The following recommendations can be made on what should and should not be done by cryptocurrency card users in order to save their money: Check if the chosen cryptocurrency card works in your country before ordering; 

  • Carefully read the client agreement when opening an account and comply with its terms; 
  • Do not send a large amount to your account until the identity verification process is completed; 
  • Check that you have all the necessary documents before passing the KYC check; 
  • If you don’t often use a cryptocurrency card, remember to make at least one payment or transaction every six months;
  • Find out all the fees charged by the service: for transactions from cryptocurrency to fiat, payments through cash desks, withdrawal of money, for the inactivity of an account or card;
  • Regularly check the available limits for the card – they may change; 
  • Try to avoid unusual large transactions in foreign countries; 
  • Use secure passwords and two-factor authentication; 
  • Do not share passwords and PIN codes for your card with third parties; Do not use cryptocurrency cards for illegal activities, purchases, or sale of illegal goods and services; Keep in mind that crypto cards may not be accepted by all merchants; and prepare alternate payment methods.

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