Crypto debit cards simplify the process of using cryptocurrency for daily transactions by automatically converting digital assets into fiat currency. Here’s how they work and their advantages:
How Crypto Debit Cards Work
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1. Transaction Initiation:
When you make a payment, the card issuer gets a request to pay in fiat currency from the merchant.
2. Crypto Conversion:
The issuer converts the required amount of cryptocurrency from your linked wallet to the merchant’s fiat currency at the current exchange rate.
3. Payment Processing:
The converted fiat is sent to the payment network (e.g., Visa or Mastercard), which completes the transaction by transferring the funds to the merchant.
4. Transaction Completion:
The purchase is completed, and the corresponding amount is deducted from your crypto wallet, including any fees.
Crypto debit cards can be used anywhere the payment network is accepted, both online and offline.
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