By
Temitope Olatunji
March 27th, 2024
MinexSystems, blockchain development company, creator of Minexcoin and MinexBank products, officially announced their MinexPay debit card’s pre-order event.
Cryptocurrencies are becoming ever more widely-spread and it is only a matter of time before any merchant, large or small, will accept them. As the userbase grows in size, the demand for tools to facilitate the mainstream use of cryptos is gathering pace.
What Exactly is MinexSystems?
MinexSystems is a full-service development company which specializes in blockchain products and has previously been responsible for such products as Minexcoin and MinexBank. According to publicity material, the company’s goal is to ‘break down barriers between digital and analog spheres’, by offering solutions which include the best features of both conventional financial systems and the blockchain world.
Card Payments
Payment by card is one of the most convenient ways of making everyday purchases. In fact, some purchases can only be made by card – e-commerce payments, for example. Research shows that over a third of all payments are now made by cards. With respect to payment with cryptocurrency, several options are available, however, none of them provides the perfect solution. MinexSystems is a company that claims to provide just that.
According to the developers, MinexSystems’ platform provides cryptocurrency users with a previously-unavailable level of freedom, allowing cardholders make purchases easily, globally and at lower cost.
Benefits and Alternatives MinexPay Offers
MinexPay offers global payments 24/7 via the app or website (wherever VISA is accepted), with a user-friendly service, wherein a user doesn’t have to worry about the exchange process as it is handled automatically by the platform. Real-time governance means the current balance is displayed in the card’s original currency and constantly updated. In addition, MinexPay charges low service fees compared to other cryptocurrency cards (starting at 0%), and cashback up to 1%.
If turn to the details for the MinexPay Standard and Gold cards, the first costs 2 MNX (no balance required); carries 2% ATM withdrawal fee for MNX, 4% for other cryptos; 1% and 2% POS terminal fees for MNX, and other cryptos correspondingly; has 200 daily withdrawal limit, 2000 monthly (USD equivalent), and 80% overdraft limit/0% replenishment fees for MNX.
Its GOLD counterpart costs 5 MNX, with required balance of 50 MNX; ATM withdrawal fee makes 1% for MNX, 2% for other cryptos; 0% POS terminals for MNX, 1% for other cryptos, daily withdrawal limit is set at 1000 , while monthly constitutes 5000 (USD equivalent); overdraft limit makes 90%, no replenishment fees for MNX.
Platinum and Gold Cards
The MinexPay Platinum card boasts a 95% overdraft limit with 0.5% cashback, while the Infinite card has a 98% overdraft limit and 1% cashback.
The MinexPay cards are available for order from the MinexPay website from June 30. MinexSystems is expecting strong demand for what they claim to be the first convenient and user-friendly cryptocurrency card solution.