How to Use a Crypto Debit Card to Make Purchases

When you buy cryptocurrency — whether it’s ethereum, bitcoin or another digital coin — it generally lives in a wallet. It sits idle there unless you transfer it to another account, spend it on NFTs (or other items purchasable via crypto) or convert it into government-issued currency, such as US dollars, and withdraw it to deposit it into your bank account.

However, with the growing interest in cryptocurrency in the last few years, hundreds of millions of people have crypto that they may want to spend but don’t know how to. That’s where crypto debit cards come in. They let you use the cryptocurrency in your digital wallet on purchases at grocery stores, gas stations and other retail outlets.

If you own cryptocurrency and want to spend it in the real world, here’s what you need to know about getting your hands on a crypto debit card.

What is a crypto debit card?

A crypto debit card is much like your regular debit card, but instead of being connected to your bank account, it’s tied to a digital wallet that contains your cryptocurrency. With each transaction, the cryptocurrency you own is automatically converted into whatever government-issued currency the retailer accepts, such as the US dollar, to complete the purchase.

What are the pros and cons of using crypto debit cards?

Although crypto debit cards help you spend your cryptocurrency to make purchases, keep a few things in mind before applying for one.

Read more at www.cnet.com

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