iPeakoin
Products
Resources
Solutions
Company
Back
Future of Fintech
Why you should consider offering crypto-backed cards to your customers
As cryptocurrency continues its meteoric rise, it’s understandable that crypto enthusiasts are increasingly looking for easier ways to on- and off-ramp their funds.
 
Enthusiasts and beginner investors are now storing large amounts of funds and savings in crypto. But they must often put up with a slow and costly process to convert their crypto back into fiat currency, or to use it for more practical applications on a daily basis.
 
For crypto to continue making its way into the mainstream and truly revolutionize the financial space, methods to earn and spend in cryptocurrency must be made more available and accessible to all.
 
What are crypto-backed cards?
One of the main factors holding back the wide adoption of cryptocurrency is the difficulty of spending directly in crypto. Traditionally, if crypto holders want to spend their crypto in a shop or online which do not accept cryptocurrency, they must have the crypto converted into fiat currency before.
 
In this sense, crypto-backed cards are an exciting new possibility in the cryptocurrency space, providing a direct method for holders of crypto to complete transactions and payments in their desired cryptocurrency, even if the merchant doesn’t accept crypto payments.
 
Crypto-backed cards work in a similar way to fiat debit or credit cards. With the support of large card-issuing companies such as Visa and Mastercard, you can link the card to your crypto wallet, allowing crypto funds to directly leave your wallet and reach the necessary merchants.
 
Benefits of crypto debit cards to consumers
Ease: A crypto-backed card allows consumers to spend in crypto at the point of purchase, rather than having to convert to fiat currency first.
 
Flexibility: Crypto payment is accepted by special merchants and not as mainstream as fiats. So if the holders want to spend their digital assent anywhere, a crypto-backed card is a preferred option. With this card, people can purchase anything as long as Visa and Mastercard are accepted.
 
Accessibility: Crypto wallets and crypto-backed cards are much more accessible than other forms of storing and spending money. Whereas debit and credit cards will require a large amount of personal information and financial vetting, cryptocurrency is accessible to all.
 
Fees: The fee to use a crypto-backed card for payment in cryptocurrency is much lower than the off-ramp process.
 
International payments: Especially for international payments, spending in crypto can help to save lots of costs for transactions and conversions. In this way, using a crypto-backed card for international payments
 
The value in using iPeakoin
iPeakoin provides a modular API-driven solution enabling our non-banking partners to launch their own bespoke card program that is built on the iPeakoin infrastructure.
 
The card is available to users across the globe, without region and nationality limit. We have a variety of card options for different customer segmentations, enabling cardholders to make payments with crypto as simple as using a credit card.
Best of all, our API platform is built with your business experience as our top priority. Get rid of lengthy processes, outdated technology, time-consuming KYC checks and waiting for opening hours. Leave all the coding and back-end work to us, integrate and launch CaaS within 14 days, not months.
--
For more details, or just want to say hi, feel free to send us a note at marketing@ipeakoin.com.
iPeakoin is a licensed FinTech platform that drives the innovation of crypto payments. With a scalable Card-as-a-Service to bring crypto further into mainstream financial services, we help crypto businesses build stronger connections with end users.