Pay Bitcoin for a cup of coffee, buy groceries for Ethereum, pay for travel in public transport with Litecoin coins – all with a regular debit card. This was discussed in 2012, but this possibility is still available to the units. In 2012, CNN released an article with a great headline. “Be ready for a debit bitcoin card.” Then the head of the communications department of the BitInstant exchange, Eric Voorhees, announced the creation of the first plastic card with the support of digital coins. And it was really released in conjunction with Mastercard, but this project did not cause much excitement among users.
In recent years, many companies have emerged that have lit up with the idea of issuing cryptocurrency cards. In 2015, Bitfinex announced a partnership with Blade Payments and announced the release of debit cards for its customers. In 2016, the BitPay processing service, in partnership with Visa, presented its own debit bitcoin cards. With their help, users of the platform were able to load funds in a cryptocurrency, pay for purchases through POS-terminals and cash money at ATMs. A year later, BitPay representatives said that the cards will be available in 131 countries, and that already about 20 thousand people worldwide have applied for pre-ordering this payment instrument.
The creators of LTC took a whole year to issue plastic cards again became possible. On June 18, 2019, the Litecoin Foundation’s official Twitter account revealed information about a partnership with the digital asset exchange Bibox and the blockchain-company Ternio. Within the framework of cooperation, the issue of physical debit cards will be implemented, allowing payment for goods and services using cryptocurrency.
A week before this announcement, Coinbase representatives announced that they would issue a debit crypto card in six European countries: Spain, Germany, France, Italy, Ireland and Holland. The card is tied to the Coinbase mobile app, with which the owners can spend BTC, LTC, ETH and other digital coins in places where they accept Visa cards.