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Everything You Need to Know About Cryptocurrency Debit Cards

Crypto Debit cards

We already know the benefits that Cryptocurrencies have to offer both customers and businesses alike. However, companies, in particular, have a lot to gain from the cryptocurrencies. With every payment replaced with the crypto payment, companies can save thousands every year. The idea of crypto transactional payments has started to take a concrete shape. And …

The post Everything You Need to Know About Cryptocurrency Debit Cards appeared first on Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide.

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We already know the benefits that Cryptocurrencies have to offer both customers and businesses alike. However, companies, in particular, have a lot to gain from the cryptocurrencies. With every payment replaced with the crypto payment, companies can save thousands every year.

The idea of crypto transactional payments has started to take a concrete shape. And this might be the reason you will find people carrying Crypto debit or credit cards. As an unknown entity in the financial world, Crypto debit/credit card might still be under the clouds.

Fortunately, COVID 19 pandemic has provided the most necessary catalyst for the people to make themselves acquaintance with the Crypto debit/credit cards.

What are the Cryptocurrency Debits cards?

As the name itself suggests, what are they? Cryptocurrency debit cards are the payment cards that are used in the same way as standard credit cards. The only difference is that instead of using the traditional fiat currency, you will be using digital cryptocurrencies to pay for goods and services.

You will even find some of the service providers with the facility to instantly convert the Cryptocurrencies to the fiat currency before making any payments.

You can even use the Cryptocurrency debit cards to add funds to your account.

The Cryptocurrencies Debit card was made for the people who have built their careers on Cryptocurrency investment. To encourage their activity and provide security to these traders with the crypto funds, several companies have surfaced up with this kind of service recently.

With these services being around, it has become simpler to use Cryptocurrencies for even the smallest financial transactions.

A brief history of Cryptocurrencies Debit cards

When there were no Cryptocurrency Debit cards, people were forced to use any third-party platform to convert Cryptocurrencies into fiat currencies.

This process was too lengthy and hectic. The conversion charges were also huge, making people lose most of their profit in the overhead expenses.

Hence, it was inconvenient for Crypto traders to pay for small transactions. This problem became enormous, and then some institutions came up with the idea to have a debit/credit solely for the Cryptocurrencies.

The first of the companies that implemented this idea was Coinbase. It operates on a simple principle. It has distributed a Cryptocurrency debit card to its users, and whatever purchase is made with the help of the Crypto debit card was deducted from their Coinbase account.

However, there were limitations to using the debit card. You were restricted from having a daily purchase of up to $1000 and ATM withdrawals up to $200.

Why use Cryptocurrency Debit cards?

Well, you do not have to use it until and unless you are a full-time Crypto trader or you have most of your assets in Cryptocurrencies. The cryptocurrency Debit card was exclusively made for the people who found it hard to spend their cryptocurrencies.

Also, it comes with its advantages over traditional Debit cards.

  • Close to 0% annual fees

We all have used traditional debit cards, and we know how high annual maintenance charges can be. But with the Cryptocurrency debit cards, you have minimal maintenance charge. And if you have a certain amount of expenditure with a Crypto debit card, then fees are also waived.

  • Smooth regulation of your crypto asset

There are many people who have invested their time and money to become a Cryptocurrency trader and investors. However, it becomes very difficult for them to use the same cryptocurrency to buy daily needs.

Now that Cryptocurrency debit cards have been introduced to them, they happily use it to pay for the goods and services efficiently. And the best part is that they do not have to pay up hefty conversion fees.

  • No foreign exchange fees

One of the significant issues with bank-related debit cards is that they charge too much foreign exchange fees. These exchange fees can go as high as 3% of the total transaction made. On the other hand, most of the cryptocurrency debit cards do not change any foreign exchange fees. Hence, making them a better option over the traditional debit cards.

  • One card access to different countries

There are many cards that serve both Cryptocurrencies transaction and fiat currency transaction. That means you do not have to swap cards to make different transactions. You can use one card for all kinds of transactions.

  • Cashback rewards

You all must have got some discount, coupons, or voucher after purchasing with a traditional debit card. The same thing happens with the cryptocurrency debit card. There are provides that offer cashback and crypto tokens to their user. Some of the cashback can be up to 3% of the total transaction made.

Conclusion

Overall, after going through what Cryptocurrency debits can do for you, it is worth trying one. If you are interested in applying for one, you can look into the bitcoin trader app.

Source: https://coinpedia.org/guest-post/everything-about-cryptocurrency-debit-cards/

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Coinbase unwilling to participate in Spark’s airdrop

Coinbase has remained silent about participating in Flare’s spark token.  Some users could end up missing on free XRP tokens Coinbase’s camp has been tumultuous over the past few weeks, from the removal of margin trading from its Pro platform, to the CEO’s tweet about a planned regulation on crypto wallets.  However, a new development […]

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  • Coinbase has remained silent about participating in Flare’s spark token. 
  • Some users could end up missing on free XRP tokens

Coinbase’s camp has been tumultuous over the past few weeks, from the removal of margin trading from its Pro platform, to the CEO’s tweet about a planned regulation on crypto wallets. 

However, a new development has gotten XRP traders talking as they have refused to join up in the imminent airdrop from Flare Network. 

Flare network have stated that Coinbase’s participation is highly unlikely. The addresses of all XRP users that would be benefiting from the airdrop will be made on the 12th of December.  By implication, it would be too late for the token’s support  to be enabled on their platform. 

Thus, Coinbase users will end up missing out on the free Ripple’s XRP token.

No airdrops for Coinbase and Kraken users.

XRP has been available on Coinbase since the second month of 2019. From that time, it has accumulated over $1.9 billion worth of token. 

However, its refusal to comment on the Spark airdrop suggests that some of its users might not know about it. Invariably, their users would miss out on the free tokens that Ripple holders are entitled to get at a ratio of 1:1. 

Flare Networks have specified that other users will be getting any token that’s unused. 

Other top Exchanges like Binance and Bitstamp have announced their participation in the distribution of the token already. 

Kraken seems to have followed in Coinbase’s footsteps at its support team posted on Twitter that they were not planning to support Flare Network’s airdrop. They advised their users to withdraw their coins and put them in wallets that they have control of. They also stated that they had no plans and are not obligated to credit anyone with airdrops that have or will occur. 

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Bitcoin SV, Maker, Ethereum Classic Price Analysis: 29 November

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Ethereum appeared to form a strong region of demand around the $500-zone, a bullish development for the crypto’s long-term outlook. In fact, ETH has been climbing steadily over the past few days, something that could be bullish for a part of the altcoin market. And yet, taken individually, some of these coins had a short-term bearish outlook.

Bitcoin SV formed a bear flag, while Maker and Ethereum Classic appeared to exhibit a divergence between its recent gains and trading volume.

Bitcoin SV [BSV]

Bitcoin SV, Maker, Ethereum Classic Price Analysis: 29 November

Source: BSV/USDT on TradingView

BSV was forming a bear flag, with the ascending channel representing the flag of the pattern and being formed on the back of falling trading volume.

The level at $172 has acted as strong resistance in recent months, with BSV struggling to flip the level to support since losing it in early September.

The short-term momentum was bullish, with the coin forming a series of higher lows over a lower timeframe. If a trading session closes above $177 in the coming days, the bear flag would be invalidated.

A break to the downside on the back of strong volume would see BSV drop to as low as $150.

Maker [MKR]

Bitcoin SV, Maker, Ethereum Classic Price Analysis: 29 November

Source: MKR/USDT on TradingView

MKR has ranged between $555 and $500 for the better part of November, with a brief breakout to touch $650 facing immediate resistance from the market’s bears.

The momentum was neutral for MKR, and the RSI stood at 50. The 20 SMA (white) dipped sharply under the 50 SMA (yellow), as can be expected from the volatility of the previous week.

It is possible that MKR can rise as high as $555, but it is more likely that MKR would oscillate between $550 and $500, as it has in recent weeks.

Ethereum Classic [ETC]

Bitcoin SV, Maker, Ethereum Classic Price Analysis: 29 November

Source: ETC/USDT on TradingView

The Fibonacci Retracement levels showed likely places of support for the price. ETC wicked down to the 61.8% retracement level, and even dipped as far down as the $5.59-support level.

Since then, the price has ground its way north on the back of falling volume. While the volume has been greater in comparison to the accumulation phase before 16 November, the volume paled in comparison to the volumes of the previous week.

Hence, while the MACD formed a bullish crossover under zero, the level of resistance at $6.42 and the 38.2% retracement level at $6.5 can offer stout resistance to ETC’s advances and push it back down towards $5.74 in the coming days.

Source: https://eng.ambcrypto.com/bitcoin-sv-maker-ethereum-classic-price-analysis-29-november

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Curve Finance to Distribute Almost $3 Million in Fees

Following the outcome of a community poll, DEX platform Curve Finance is set to distribute $2,631,601 in fees to its governance token holders. In May 2020, Curve revealed that it would decentralise its platform. Governance was by means of its governance token, CRV. The company would deliver tokens to users based on how much liquidity … Continued

The post Curve Finance to Distribute Almost $3 Million in Fees appeared first on BeInCrypto.

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Following the outcome of a community poll, DEX platform Curve Finance is set to distribute $2,631,601 in fees to its governance token holders.

In May 2020, Curve revealed that it would decentralise its platform. Governance was by means of its governance token, CRV. The company would deliver tokens to users based on how much liquidity they had provided to the protocol since its launch in January 2020.

The distribution announcement, which came on Nov 27, marks a new frontier in the growth of DeFi. It demonstrates the success of a decentralised governance mechanism over a decentralised liquidity farming platform.

Curve’s road To distributed governance

On Aug 24, BeInCrypto reported that Curve’s first governance vote did not go as well as planned. Voters criticized the voting protocol. Effectively as much as 70 percent of total voting power lay with founder Michael Egorov. Curve remained popular in the yield farming space, though, due to its Automated Market Maker (AMM) technology.

Curve launched initially as a decentralised exchange supporting stablecoins and yield farming. It became a highly sought-after DeFi token in August when a community user correctly deployed a CRV token protocol. By popular demand, the protocol was then adopted by the platform.

A week-long voting exercise began on Nov 20. The result of the vote and the subsequent execution of the community decision provide a shot in the arm for the growth of decentralised protocols by demonstrating the practicality of distributed governance.

Voters included 49.75 percent of the total eligible voting pool, with the decision going through unanimously. According to Curve, payment of the fees will occur on Nov 30. Subsequent fees will be remitted weekly to platform governance token holders going forward.

Curve’s burgeoning growth

Despite the aforementioned voting protocol teething issues and a significant dropoff in Total Value Locked (TVL) on the platform toward the end of October, Curve has surged in recent weeks. It currently boasts a TVL above $900 million. Curve is the 6th most popular DeFi protocol in existence.

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David is a journalist, writer and broadcaster whose work has appeared on CNN, The Africa Report, The New Yorker Magazine and The Washington Post. His work as a satirist on ‘The Other News,’ Nigeria’s answer to The Daily Show has featured in the New Yorker Magazine and in the Netflix documentary ‘Larry Charles’ Dangerous World of Comedy.’ In 2018, he was nominated by the US State Department for the 2019 Edward Murrow program for journalists under the International Visitors Leadership Program (IVLP). He tweets at @DavidHundeyin

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Source: https://beincrypto.com/curve-finance-to-distribute-almost-3-million-in-fees/

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