Crypto credit card: No credit interest (0%) will be charged from customers having a loan-to-value ratio of 20% or less. Mastercard has acknowledged that the era is now of digital currency. Therefore the concept of crypto credit card cannot be denied.
Now cryptocurrencies like Rupee or other currency (Cryptocurrency) of credit credit card (crypto credit card) has also been launched. The common credit card runs with rupees, but this new type of credit card will run on cryptocurrency. It will be operated from virtual currencies like bitcoin, ethereum. Cryptocurrency company Nexo has joined the world’s famous payment company MasterCard (Mastercard) to launch a crypto credit card.mastercard) shook hands. Nexo and Mastercard have jointly launched a crypto credit card. This credit card has been started in view of the increasing trend of cryptocurrencies day by day.
‘Reuters’ has given information about this new type of crypto credit. With the coming together of Nexo and Mastercard, it has been decided that crypto and financial networks will now work in partnership and this will increase the circulation of digital currency rapidly in the times to come.
how is crypto credit card
Nexo has said that initially this credit card will be available only in some European countries. This card will allow the user to shop or spend without selling cryptocurrencies. Bitcoin or other virtual currency will be kept as a guarantee of this credit card. That is, keeping bitcoin as a guarantee, this credit card will be issued. Most of the credit cards are unsecured and have a fixed credit limit. The same thing will happen with crypto credit cards as well.
how will this card work
The crypto credit card will run on Nexo’s crypto-linked credit line and will allow purchases from 920 million merchants around the world. Mastercard has tie-up with these merchants where crypto cards can be used. According to the report, up to 90 percent of the limit of crypto credit card will be able to transact in fiat currency (such as dollar, euro or rupee etc.). That is, if the limit of the card is 1 lakh rupees, then you can spend up to 90 thousand rupees. Its payment will be in fiat currency, but the card will be run with cryptocurrency.
There is no minimum repayment, monthly or inactivity fee condition with this card. There will be no restriction on spending or withdrawing money from this card. Interest will have to be paid on the amount of credit used on the card. No credit interest (0%) will be charged from customers having a loan-to-value ratio of 20% or less. Mastercard has acknowledged that the era is now of digital currency. Therefore the concept of crypto credit card cannot be denied.
: Language Inputs