It’s hard finding a reliable way to spend your cryptocurrency. When BTC’s fees went sky high in 2017, many merchants were sent scurrying from the crypto arena and have yet to return. With the Lightning Network permanently six months away, and few established crypto payment gateways, crypto debit cards have become a popular means of converting to fiat. But due to the complexities of operating a crypto-fiat business while satisfying regulatory requirements, coupled with the whims of payment giants Visa and Mastercard, crypto debit card companies find themselves in a precarious profession.
Also read: Spain’s 2gether Unveils Crypto Debit Card, as Polispay Is Forced to Cancel Its Mastercard
The Trials and Tribulations of Crypto-Fiat Exchange
Getting fiat money out of crypto is a lot harder than getting it in. In the past year, crypto debit cards have become an immensely valuable bridge between the fiat and crypto worlds. The two financial realms – legacy and future finance; centralized and decentralized…