Here’s a thing about crypto — it’s not an actual currency. If it was, you’d be able to go downtown and grab a McCheeseburger paying with your hard-earned BTC. This is called a buying capacity and right now, a buying capacity of cryptocurrency is just a little bit north of zero.
Luckily, things are about to change. In summer 2018, Bonpay is launching Bonpay Cards for cryptocurrency that will finally grant crypto the same buying capacity the fiat currently enjoys.
What is Bonpay
Bonpay is a cryptocurrency payment system established in 2016. Their main goal is to create a world where crypto- and fiat currencies are interchangeable and equally easy to use.
In fall 2017 Bonpay had an ICO where they introduced the first product to achieve their goal — the Bonpay cryptocurrency cards. They are supposed to be just the first step in the line-ups of products that will make the life of cryptocurrency users a lot easier.
What are the cryptocurrency cards
Cryptocurrency cards are the easiest way to convert cryptocurrency to fiat currency. They look the same as the conventional banking cards but are connected not only to the banking account but to a cryptocurrency wallet too.
When you top up the attached cryptocurrency wallet, the card automatically exchanges your crypto to fiat and transfers fiat to the banking account. From that moment on, you can use the money on the card as you see fit — pay for your McCheeseburger, buy gas or order something from Amazon. Or maybe even cash that money at the nearest ATM, if you want to.
Why we need the cryptocurrency cards
Currently, the process of withdrawing BTC into USD is overcomplicated and practically impossible. You need to find an exchange or a user in a marketplace, you have to make sure that they are not a fraud, you have to verify your account with them or meet up in person.
At the end of the day, you are wasting a lot of time and unnecessary actions to just convert money from one currency to another. And with a cryptocurrency card, you can do this in under a minute.
How to use the Bonpay cryptocurrency cards
If you are not completely sold on the idea, here’s how the whole process of paying for your coffee with crypto looks with Bonpay cards:
You Sign Up for a Bonpay Wallet;
You top up your Bonpay Card account with BTC;
You start using your BTC to pay for everything you want to!
As you can see, it is extremely easy to forever change the way you are using your Bitcoin.
Where to get a Bonpay crypto card
To get a Bonpay crypto card, you will have to wait until August 2018. At the moment, you can only pre-order a Bonpay card. However, you can also create and verify your Bonpay Account so that when the cards are released, you can start using yours as soon as possible.
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