BitPay Crypto-to-Fiat Card Booming in US Market

BitPay Card
BitPay Card

American consumers are now flocking to load the first Mastercard branded BitPay card with top digital assets.

Recently, new data from BitPay signals strong support from US consumers for the company that announced its first Mastercard branded card in June 2020.

BitPay Statistics

BitPay, the Atlanta-based cryptocurrency services provider, has released blockchain payment statistics that show how the market performed in 2020.

According to statistics, the company recorded 110,000 crypto transactions processed through BitPay across all supported coin types in July 2020.

In addition, the data also showed how crypto card usage is changing. More users load their cards with top digital assets such as BCHETHXRP, and the stablecoin USDC.

Although Bitcoin remains the top crypto, it is steadily losing ground in terms of load dominance.

BitPay Advantages

The Mastercard branded BitPay card has several advantages that make it far superior to all other options available in the market today.

First of all, the BitPay Card enables customers to instantly convert cryptocurrency into fiat currency. Then, users can load the converted funds onto the card without conversion fees.

Secondly; the card is safe for first-timers to use crypto, pay for daily purchases, and to withdraw cash from ATMs.

Furthermore, 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 accessible immediately after enrollment.

Privacy and Security

Users’ privacy and security concerns are key features of the BitPay card as it 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 a day in total at ATMs, according to News.Bitcoin.

The card comes with a new app to lock cards, monitor transactions, and load. It also includes EMV chip and supports safe contactless payments.

At Mastercard, we’re committed to offering differentiated financial services to consumers on a global scale. We’re excited to be working with BitPay to offer consumers greater choice and flexibility when it comes to managing their finances.

Sherri Haymond, executive vice president, Digital Partnerships at Mastercard – Business Wire
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Sally ElShorbagy 21 Articles
Sally ElShorbagy is a freelance journalist and translator who currently covers the future of the cryptocurrencies and the digital economy revolution.