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Published February 12, 20245 min read

Currencies of the Future: How Crypto Companies Simplify Cryptocurrency Payments for Goods

CoinMooner Team

In a recent news article, the Coinmooner team has put together an up-to-date review and conducted a personal analysis on withdrawing cryptocurrency and its methods of use as a payment method for regular users. We'll give you information on how to take advantage of cryptocurrency payment options in various countries, including restaurants, shops, entertainment centers, car rental services, and much more.

Just a couple of years ago, cryptocurrencies were seen as an exotic form of investment, with few considering how they could be used in everyday life. But the world has changed since then. Cryptocurrencies are now becoming an integral part of our financial reality, influencing our payment methods and opening up new opportunities for work and trade.

Technological advancements and a shift in society's attitude towards digital assets have led to the increasing use of cryptocurrencies for paying for goods and services. What once seemed unimaginable or even unattainable has become a reality. Today, we see cryptocurrency payment systems and withdrawal services integrating into our daily lives, offering new opportunities for financial transactions.

This sharp shift in the perception of cryptocurrencies has been driven by several key factors. Firstly, technological progress has allowed payment systems to be improved, providing more convenient and secure ways to conduct transactions using cryptocurrency. Secondly, the growing interest in digital assets among the general public and the investment community is attracting the attention of cryptocurrency companies, contributing to the development of infrastructure and services in this area.

Undoubtedly, one of the most significant game-changers has been the ability to use cryptocurrencies to pay for goods and services. Previously, this was a complex and inconvenient process that required specialized knowledge and skills. However, with industry developments, new services and payment systems have emerged, simplifying this process to the point of a few taps on a smartphone or computer.

Nowadays, many companies and entrepreneurs are beginning to accept cryptocurrencies as a means of payment for their goods and services. This opens doors to new opportunities in the global economy and creates an important additional industry, contributing to increased financial turnover worldwide. As a result, cryptocurrencies are no longer just speculative instruments in financial markets but have become a full-fledged medium of exchange that affects our everyday lives. Let's carefully examine the various ways and opportunities to use cryptocurrency for payment available to users in the virtual world of Web3 across the globe, on different continents of the planet.

BYBIT

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Bybit, a crypto exchange, has been a leader in financial tech since its launch in 2018. Headquartered in Dubai, UAE, it was founded by Ben Zhou in March 2018. It's become the go-to platform for traders interested in cryptocurrency derivative contracts.

Currently ranked third by CoinMarketCap, Bybit has a trading volume of over $2 billion in the last 24 hours and boasts over 5 million users weekly.

But that's not all. Bybit offers unique virtual and physical cards for paying with cryptocurrencies at regular bank terminals. The physical card allows cash withdrawals up to $1500 daily, a revolutionary high limit compared to other providers.

One key advantage of Bybit is instant wallet funding after transactions, with guaranteed no deduction errors.

Regarding cards, Bybit supports Mastercard, ensuring quick access to crypto funds for spending anywhere, anytime. Conversion can be automatic or user-selected. Payments from MetaMask and other web3 wallets are lightning-fast, making Bybit a top choice worldwide.

BINANCE

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Imagine the new Blackcatcard from Binance – it's not just another financial service, it's one-of-a-kind. Bringing together the best of both Web2 and Web3, this card has revolutionized how millions think about financial services. How does it stand out from others, like the Bybit card? Right from the start, you get a free European IBAN account, even if you're not a resident of Europe, opening up huge opportunities for businesses and entrepreneurs. No need for complex procedures with lawyers or consultants to register a company in countries requiring a bank account – now it's much simpler.

On top of that, Binance offers instant access to a virtual card and free worldwide delivery, so you can start enjoying the benefits without unnecessary delays. You also get convenient mobile and online banking with no hidden fees or service charges. And that's not all: you'll have access to a full range of crypto services – from buying and selling to storing and sending cryptocurrency, all in one handy app. With Blackcatcard, you can manage your finances easily and securely, earning up to 5% cashback on purchases and up to 4% annual interest on your balance. All of this makes Blackcatcard the perfect choice for individuals and businesses alike, unlocking new possibilities in the world of financial services.

COINBASE

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The next method we'll talk about is the Coinbase Card - it's a cryptocurrency card issued by the American regulated exchange Coinbase. This card comes as a physical Visa card for making payments in USD. You can use any supported cryptocurrency on the platform for transactions (it will be automatically converted to dollars), or you can use credit secured by cryptocurrency on the Coinbase platform.

Although this card isn't a top choice in European countries due to usage geography restrictions, there are some things to consider. All cryptocurrency conversions to fiat money for card purchases are taxable and must be reported in tax declarations. While there are no transaction fees, the exchange warns about potential price differences that may occur during cryptocurrency to fiat money conversions. However, the card has a good reputation since it's owned by one of the oldest centralized exchanges and offers two types of cards: debit and credit.

The Coinbase Card supports the following cryptocurrencies: BTC, ETH, USDT, USDC, as well as all cryptocurrencies available for trading on the Coinbase exchange, in addition to USD. One of the significant advantages of this card is the absence of transaction fees, which attracts attention from audiences around the world.

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The Coinmooner team believes that this information about cards will be helpful to readers who enjoy traveling or want to use their cryptocurrency in everyday life. It's important to remember that you can withdraw any cryptocurrency whose smart contract supports exchange with popular assets available on centralized exchanges. Additionally, we urge our readers to stay updated on the latest news in both the Web2 and Web3 spheres. We're seeing these two industries increasingly interact. Don't forget to also ensure the security of your assets by using advanced protection methods.

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