Bitcoin Rewards on All In-Store Transactions Offered by New Visa Card

News
Mon, 11/11/2019 - 14:10
Alex Dovbnya
Australia, Singapore, Taiwan, and other Asia-Pacific countries are now able to test out a multi-currency travelcard introduced by Wirex
Cover image via www.123rf.com

Digital payments platform Wirex, which offers solutions both for digital and fiat currencies, has launched a VISA travel card that supports 150 currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), and a slew of other altcoins, the company's press release states.

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The Wirex Visa Travelcard, which will be available across the Asia-Pacific region, allows its users to receive 1.5 percent in Bitcoin rewards on all their in-store purchases to later spend them on traveling. 

From the outset, Wirex users will be able to enjoy the offer without paying any additional fees, which is expected to be a selling point for those customers who are still on the fence. For comparison, there is a 1 percent maintenance monthly fee for the owners of the company's crypto debit card.  

“We’re delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency," said Wirex CEO Pavel Matveev. 

As reported by U.Today, Wirex acquired a much-coveted e-money license from the Financial Conduct Authority (FCA) back in August 2018 that solidified its status as one of the leaders in the real of crypto payments.

Bitcoin debit cards bridge the gap between fiat and crypto by allowing users to instantly spend crypto at grocery stores, restaurants, and other locations without breaking a sweat. Digital coins are automatically converted to fiat, which means that merchants do not have to deal with volatility risks of the nascent asset class. 

However, Bitcoin Cash proponent Roger Ver believes that the need for conversion makes Bitcoin susceptible to censorship.  

 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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