- Support has been introduced for Litecoin on Bitcard
- The Card allows users to ‘top-up’ by selling cryptocurrency to Bitnovo
- There is no bank account or crypto wallet requirement for the card
A support system has finally been introduced for Litecoin on BitCard. Bitcard is a card that allows users to deposit cryptocurrency but spend fiat currency in stores without the need for a bank as a middleman.
This card is a product of Bitnovo but is hardly the only one on the market. What differs with the BitCard is that it doesn’t need to be tied to a wallet on the Bitnovo platform itself. Instead, users enjoy a top-up service in which they sell cryptocurrency to the platform and have the fiat equivalent added to their card balance.
There is also no need to link a bank account to sign up for the card.
Playing their right cards
The use of cryptocurrency to pay for goods and services is becoming a more common phenomenon these days with more businesses accepting cryptocurrency as payment.
However, the need for debit cards that are made for cryptocurrency has always existed. Most times, when people pay for goods over the internet using cryptocurrency, they are directed to log into their wallet or make a transfer.
Outside of online purchases, most people either pay for items using physical cash or credit cards. Obviously, cryptocurrency is digital cash and so the only option to avoid the tedious route of wallet transfers was to create cryptocurrency cards.
However, with many users having multiple wallets, there was the need to have a single card that could carry funds from multiple sources at the same time. Also, due to some level of fraud in the cryptocurrency space, not everyone would feel comfortable keeping all their cryptocurrency in a single place.
The BitCard is one answer to this as users can control how much money is put on the card and they do not need to open another cryptocurrency wallet simply for this purpose.
The use of bank cards on its own is becoming the preferred choice for individuals in what is fast becoming a cashless world.
By creating cryptocurrency cards to keep up with the growth of cryptocurrency, the digital currency world is positioning itself to work alongside traditional payment methods rather than contrary to it.
This way, cryptocurrency will be seen as just as legitimate and mainstream as fiat currency rather than an alternative one.