The biggest blockades to their mass adoption have been their sheer volatility and lack of accessibility. Because of the drastically fluctuating value of cryptocurrencies, most retailers don’t accept them as payment. However, in 2014, Overstock.com created history as the first major retailer to accept Bitcoin as payment. Overstock was soon followed by other major retailers like Amazon, Shopify, Expedia, and various others.
Acceptance of cryptocurrencies by major retailers signified a paradigm shift. They were no longer a novelty meant solely for investors, they started functioning as actual currency. Pretty soon, the accessibility of cryptocurrencies further escalated once Coinbase launched the US’s first Crypto debit card in 2015.
Since then, crypto debit cards have become a cornerstone of integrating cryptocurrencies into the consumer economy. A crypto debit card can be used to pay for goods and services even if the merchant involved doesn’t accept payment in cryptocurrencies directly. That is possible because the crypto debit card automatically converts the user’s digital assets into fiat currency before sending payment to the merchant.
Furthermore, debit cards can also be used to withdraw fiat currency from any ATM around the world. This exponentially increases the accessibility of cryptocurrencies because they can now easily be converted and used as fiat currency. Users no longer have to cart them around various exchange platforms and convert them into fiat currency before being able to transfer them to their bank accounts.
The aforementioned reasons have rendered crypto debit cards into a necessary tool for all cryptocurrency holders. However, the convenience and accessibility comes with one drawback — using crypto debit cards leads to a high transaction fee and a weaker exchange rate compared to the market value of cryptocurrencies.
However, Nebeus Crypto Bank is now primed to remedy that drawback with the introduction of their Nebeus Crypto Debit Cards.
Nebeus Crypto Bank
Nebeus Crypto Bank is a London-based open cryptocurrency platform utilized for the consumption and creation of financial services and products. Two of their biggest contributions to the world of cryptocurrencies are the facilitation of crypto-collateral loans in Bitcoin and Ethereum, and the introduction of the low-cost Nebeus Crypto Debit Cards into the market.
Both of these endeavors — providing crypto-collateral loans and introducing The Nebeus Crypto Debit Cards — enhance the real-world utility of cryptocurrencies, integrating them further into the consumer economy.
Konstantin Zaripov, Nebeus Co-Founder and Managing Director, said:
“The Nebeus card combines the best features of the crypto and fiat finance worlds. It bridges the gap between cryptocurrencies and fiat currencies, offering users a convenient and hassle-free means of transitioning between the two.”
What are the specific benefits of using Nebeus Crypto Debit Cards?
Like most crypto debit cards, Nebeus Crypto Cards also have the ability to streamline all of a user’s digital assets into a single medium. The following are some of the prime features of Nebeus Crypto Debit Cards:
- Converting cryptocurrencies to fiat currency.
- Withdrawing fiat currency from any ATM around the world.
- The card can be topped up with all major cryptocurrencies.
- Can be used by consumers across the globe.
- It can be used in combination with the Nebeus App or Online Platform to manage all transactions and digital assets.
- The cryptocurrencies can be stored in a “Crypto Basket” to allow for easy access to them.
- The Nebeus Crypto Card can be used to make payment in stores, online, or for ATM withdrawals. For all intents and purposes, it functions like a regular debit card.
A Nebeus Crypto Debit Card is beneficial for all users. However, they are especially advantageous for Nebeus Token (NBTK) holders. If a user is in possession of NBTK tokens — the tokens native to Nebeus Crypto Bank — they can enjoy the following privileges:
- They only have to pay the upfront cost of purchasing the Nebeus Crypto Card. The monthly fee is waived.
- NBTK holders receive a monthly cash back of 2-3% of the value of their expenditure in the form of Nebeus Tokens (NBTK tokens).
Types of Nebeus Crypto Cards
- Nebeus Exo Card: The most advanced and powerful crypto card; there is a one time cost of $69 to purchase and users have to pay an additional monthly fee of $6.96 (unless they hold 50 NBTK tokens). It has a daily withdrawal limit of $1500, and users in possession of over 50 NBTK receive a 3% cash back.
- Nebeus Rocket Card: A lower-cost alternative to the Exo card; purchasing it costs $19.6, along with an additional monthly fee of $2.6 (unless 25 NBTK tokens are held). It has a daily withdrawal limit of $750, and users in possession of over 25 NBTK receive a 2% cash back.
- Nebeus Virtual Card (Coming Soon): This crypto card has not yet been launched. However, it will be the cheapest alternative, costing a mere $9 for purchase, along with an additional monthly fee of $1.5. NBTK holders will be guaranteed a monthly 1% cash back in the form of Nebeus tokens.
In order to enjoy of the privileges garnered from holding NBTK tokens, you can purchase them right now from YoBit Exchange.
Purchasing a crypto debit card is crucial for all cryptocurrency holders because it gives them access to, and enhanced control over, their digital assets. However, people are often hesitant about doing so because of the monthly charges and the high transaction fees involved.
Nebeus Crypto Debit Cards offer users the opportunity to enjoy the benefits of a debit card while also bypassing those pesky monthly charges, making them an essential tool for any cryptocurrency holder.