What is a VISA crypto card?

Written by Davies on cryptocurrencies visa / Reading time: 4 minutes.

What is a VISA crypto card?

World economy is mainly based on constant sales and purchases of goods and services. Money is continuously moving from hand to hand and from one place to other, creating wealth and promoting productive and commercial activities. In a capitalist system such as the one we’re living at, smoothness in the transactions is required so that the wheel doesn’t stop spinning.

We’re used to have that money we’re handling in our daily life in the form of fiat currencies of whichever country we live at or we’re visiting. Currently euros in Spain, pounds in the UK, dollars in the US (and many other territories) … All these are the currencies we normally use, either in cash, as coins and notes, or since quite some time already by electronic means, paying with credit or debit cards.

Moreover, we can also find cryptocurrencies, or virtual currencies. Unlike fiat ones, they don’t depend on the country they actually are, since they’re decentralized, that is, there is no institution in charge of delivering and regulating them. In our blog we have already explained many of the functionalities they have that are useful on the Internet. But what if we told you that you can also use them in the “real world”? Would you like to know how? Keep reading!


Why using cryptocurrencies as a means of payment is an interesting option

Let’s start with an elementary concept that many people struggle to accept: cryptocurrencies are real money. The fact of lacking a physical representation and not taking any space in your purse doesn’t make them “fake” or “less valuable”. Indeed, it’s right the opposite: they have a series of advantages that common fiat money don’t.

As an example, the decentralization to which we referred before means that their value doesn’t depend on political seesawing in a certain government. Instead, it’s only determined by the usage consumers do with them. Besides, they’re especially recommended for international operations, due to the fact of fund transfers happening instantly without having to deal with wearisome and potentially expensive procedures such as currency exchanges.

Another strength point is that they’re based on blockchain technology, which ensures a maximal level of safety: each and every operation performed with them gets logged on a block in the chain, linked both to the previous and the following ones, which means that it can’t be modified without affecting the others. Therefore, any given transaction is traceable, reducing any risk of scams and forgeries. But at the same time all sales and purchases remain anonymous, just like if they were done with cash, so privacy is guaranteed at any time.

All these advantages lead us to think that, without any doubt, we’re facing the means of payment that will revolutionize the global money environment in a close future. But unfortunately, even though cryptocurrencies are becoming commonplace and an increasing number of businesses accept them as a means of payment, we are still talking about a not so extended system; it’s slowly getting its spot, but still needs to follow its path until its usage becomes standard. The same has happened with most breaking novelties throughout history: the audience is reluctant to innovation and rarely lets them become an instant success. Usually some time to get used to them is required.


Crypto VISA cards: cryptocurrencies in your daily life

In order to speed up the process and to encourage the transition towards a more reliable and efficient currency, some cryptocoins, such as Davies, are implementing a new method to use them in daily life with full normality. VISA crypto cards are the system that has been developed to do so.

A VISA crypto card is simply a card linked to an account that works with a cryptocoin. When using them, the money with which you pay is the virtual currency you store in your digital wallet. For all purposes it works in exactly the same way as if it were issued by a commercial bank and used fiat money.

The key point is that, as it has VISA support and facilities, it can be used without any issue in all shops in the world accepting those cards. Well into the 21st century, we’re speaking about a vast majority, practically everywhere and in any business sector. Therefore, with a VISA crypto card you can use your cryptocoins to pay in more than 50 million stores, both physical and e-commerce, as well as to receive payments.

It’s such a perk especially if you travel often to countries where they use a different currency from your home location, or if you usually shop in foreign websites. The first thing you’ll notice is that you won’t need to have a bank account in the local currency, as some businesses still request. Besides, you may have also seen that normally a fee is charged for “currency exchange”, and sometimes it’s a quite significant amount. Now the problem disappears, because you will be paying directly with your Davies and no extras will be charged. The exchange will only depend on the prices quoted at that very moment.

This series of advantages make it advisable, when choosing a cryptocurrency to work with, to take one which has VISA crypto cards. Davies is working towards making them available very soon to any private individual who wants to get the maximum profit from the money. Keep visiting our blog to know in depth this and other features of virtual currencies!