American consumers flock to the first BitPay card with the Mastercard brand
The new data from BitPay shows that American consumers are flocking to load the first BitPay card from the Mastercard brand with the best digital assets. The popular cryptocurrency payment service provider debuted the new card in June 2020, and the company’s transactions hit a new high in July. The data also shows how the use of crypto cards is changing, with more users choosing to carry a selection of top digital assets.
Not all crypto cards are the same
BitPay, the Atlanta-based cryptocurrency service provider, has recently released blockchain payment statistics showing how the market performed in 2020. Among other interesting points, the data points to strong support from American consumers for the company that announced its first card with the Mastercard brand just a year ago, that is, a few months ago.
According to statistics, the total number of crypto transactions processed through BitPay in all types of supported currencies reached a new high in July 2020 of almost 110,000 transactions processed. The figures also show a stable month-over-month growth trend in transactions processed since March.
The great popularity of BitPay services for making and accepting crypto payments allows us to understand the widespread use of the main assets throughout the market. BitPay statistics reveal that while Bitcoin is still the most widely used crypto, it is steadily losing ground in terms of upload domain. This happens when users switch to a variety of important digital assets such as BCH, ETH, XRP, and the USDC stablecoin, to load their cards.
Crypto cards make it easy to pay for everyday purchases, are safe for newbies to cryptocurrency, and expand adoption of digital assets. But not all cards are created equal, and the Mastercard-branded BitPay card has several advantages that make it far superior to all other options available on the market today.
A card designed for those who live life in crypto
The Mastercard-branded BitPay card offers instant conversion, which means that users don’t have to worry about the volatility of the crypto assets they load with – whatever amount they load is immediately converted into dollars and there are no multiple conversions for every transaction they carry. perform. This is in stark contrast to other crypto cards that only operate on an on-the-go spending model, converting stored crypto into dollars each time a payment is made and in the meantime letting its value fluctuate.
Another great advantage of BitPay is that the card has very high limits compared to other crypto cards. Users can load up to $ 10,000 per day, spend up to $ 10,000 per day, and withdraw up to $ 6,000 per day in total at ATMs. The Mastercard-branded BitPay card also has no conversion or loading fees, so users are only left with network and miner fees which can be very low if they choose an option like BCH or XRP.
The new BitPay card allows users to spend money anywhere Mastercard is accepted, both online and in stores. And it comes with a virtual card that can be used immediately after enrollment. The card is compatible with a new application that can be used to block cards, monitor transactions and load. For users requiring human assistance, English speaking agents are available with a simple phone call or email.
Security is also a key feature of the Mastercard-branded BitPay card, as it includes an EMV chip and supports secure contactless payments – a must to stay healthy these days. Plus, Apple Pay and Samsung Pay will soon be available to keep cardholders safe in store. All of these features are offered without the need to stake coins or redeem rewards for coins that you don’t want or prefer, as other cards require.
In addition to all these advantages, the Mastercard-branded BitPay card should also be especially popular with the bitcoin cash community, as statistics show that BCH is the main alternative to BTC among users of the company. To date, BitPay has processed more than 25,000 BCH transactions.
In total, BCH accounts for about 4% of BitPay transactions, and ranks as the second preferred payment method. It is closely followed by ETH at number three and XRP at fourth place. The company also reports that bitcoin cash is used more to buy gift cards and load the BitPay Card or the cards of its many partners. Online games are the second most popular use of BCH, followed by buying gold.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.