Debit cards are becoming more popular among users of criptocurrencies. Coinbase andCrypto.com are already in the market, and are in the top of the pack. American FTX is going to launch a Visa card for its customers, as announced today on the American criptocurrency derivatives exchange. FTX users are now allowed to join a waiting list to sign up for the card.
The FTX card will only be available to U.S. citizens with a valid social security number. The announcement doesn't reveal when the cards will be shipped to FTX customers.
Users can use their FTX account to automatically exchange the exact amount at the point of sale and protect all user funds, according to FTX's website. The FTX Visa Card will come at no cost and FTX will not charge any administrative or processing fees.
Visa has previously approved payment solutions for several companies including Binance, Bakkt, BlockFi, CryptoSpend, and Ledger.
The European currency exchange and custodial service Nexo launched a long-promised debit card on January 19th, while FTX allows its users to join a waiting list. Users can get up to two percent cashback on all purchases if they have an available balance on the Nexo Account, and the payment amount is deducted from the user's available balance. Cashback can be paid in BTC 0.5 percent or in the native NEXO token 2 percent. Options can be toggled between the two before making a transaction.
Users get up to €10,000 in ATM withdrawals a month, and Nexo will not charge for foreign transactions up to €20,000. Users can create free virtual cards for safe online purchases by using the Nexo card, which is connected to Apple Pay and Google Pay.
The Nexo card is available worldwide, except for users in Bulgaria, The Central African RepublicAfrican Republic, Cuba, Estonia, Iran, New York State, North Korea and Syria.