The cryptocurrency payment solutions company, Bonpay is in the process of making it easier for people to spend cryptocurrencies. The proverb, “spending is easier than earning” may hold good in case of fiat, but it isn’t the same when it comes to spending cryptocurrencies.
The cryptocurrency market has seen a lot of development in the recent days. However, the community is still faced with challenges when it comes to withdrawing and spending the crypto-assets. Even though a bright future is predicted for the likes of Bitcoin and Ethereum, no universal payment solution is supporting these digital currencies at the moment. Bonpay aims to change it, one step at a time.
The growing interest in cryptocurrencies has led to to the appearance of different fund withdrawal methods which included bank transfer, exchange to other e-currencies, or direct Bitcoin payment for goods and services. However, these methods have their own issues as the bank transfer and exchange to other e-currencies come with exorbitant fees and sluggish speeds while there aren’t many merchants who accept direct cryptocurrency payments either online or offline. But as with any other problem, even this one has a solution.
A market analysis indicates two widely used payment options, cash and credit cards. These two payment methods have achieved maximum market penetration. They can be used to pay for almost everything in places ranging from large supermarkets to small shops and even online portals. In cases where the cards are not accepted, people can always pay by cash withdrawn using the card from a nearby ATM.
The increasing adoption of Bitcoin and other altcoins followed by widespread usage of credit and debit cards has led to the creation of cards for Bitcoin withdrawals. The concept was initially implemented by Trailblazers, which came with high fees and poor support that left many people disappointed.
The Bonpay Cryptocurrency Card Solution
Bonpay Card is an ideal option to withdraw funds for cryptocurrency traders, miners, Internet marketers, webmasters, and freelancers. It can be used easily and quickly regardless of geographical and banking boundaries. In addition to these benefits, the Bonpay card also enables entrepreneurs to make payouts to their staff without bearing excess transaction fees, saving both time and money in the process.
Some of the current opportunities offered by Bonpay includes:
- Availability on any device with fully-functioning web-version
- Versatile replenishment options, including Bitcoin, Paypal, and international/local bank transfers
- Option to buy Bitcoin with Bonpay Card and with Paypal
- Possibility to store funds both in the wallet and on card
- Opportunity to order plastic/virtual cards in EUR/USD with additional currencies available in future.
Plastic card will allow ATM withdrawals across the world while the virtual ones reduce the risks associated with online transactions.
Laying Cards on the Table
In the past, multiple players have announced that they will be introducing Bitcoin cards with 0% fees. But to make good of their claims, they are yet to launch these products. Unlike them, Bonpay is laying cards on the table. The Bitcoin Card solution offered by the company is already live and has a defined fee structure in place. Bonpay has a zero-fee structure in place for money transfer within the system, along with a maximum of 1-2% Bitcoin conversion rate and ATM withdrawal limits set up to USD/EUR 60,000 at FX rate tending to 1.9% instead of usual 3% charged by similar services.
The Bonpay team is confident that a larger interested community will be a key factor in the success of its project. Being advanced users of cryptocurrencies, Bonpay team members have concentrated their skills into the product which was launched on the 1st of September. The first 500 subscribers already have an opportunity to order free card, which may warm up a direct interest among users. Subscribers stand to receive a Free Bonpay Card and enjoy all its advantages listed on the website.