With eidooCARD, You'll Never Use Another Crypto Debit Card. Here's Why!
Crypto cards are bridging the divide between traditional finance and fiat currency as well as decentralized finance and cryptocurrency. They make it possible to spend your crypto in shops and restaurants, and in online stores. As the scope of their capabilities is expanded, the potential for mass adoption of cryptocurrency seems all the more viable with the use of crypto cards.
With a crypto card, merchants are receiving fiat just as they would with an ordinary debit or credit card. The eidooCARD cuts out all of the admin around converting your cryptocurrency into fiat via an exchange and then waiting for the fiat to arrive in your account, making all the transactions instantaneous and seamless.
Choosing the right crypto card is essential, and for that reason, we want to provide you with the information you need to make an informed decision. Further to this, we want to show you how the eidooCARD highlights its unique features.
The general criteria typically explored to help differentiate crypto cards are listed below. These criteria should assist you in making an informed decision. The biggest eidooCARD differentiator is that it is decentralized and on layer 2. Outside of the key differentiators you will see, the eidooCARD ticks the rest of the boxes too.
Factors that influence versatility include:
Card jurisdiction: where the cards are available to use in terms of geography
Supported merchants - Convenience is the key!
Is the Card provider regulatory complaint about the jurisdiction in which they are available?
What FIAT currencies are supported by the card
What cryptocurrencies are supported?
Are fiat deposits supported?
Are rewards and incentives based on spending — if so how? Are the rewards a percentage of cashback, subscriptions, online vouchers?
Whether there is access to the card support team and communication channels for the card should you hit a bump in the road in card usage.
The eidooCARD is available in the UK and EEA and will give access to close to 40 million VISA merchants worldwide. Ordering the eidooCARD is done through the Eidoo app and does require KYC. If you already have a Tier2 eidooID profile in your wallet, no additional verification is required and you can easily convert your BTC, ETH, PNT, and stablecoins into GBP or EUR and start spending. The Eidoo Wallet is non-custodial, so your crypto assets are entirely under your control.
Obviously, instantaneous and convenient conversion from crypto to fiat comes at a cost. Fees include:
Cost of ordering and maintaining the card
Replacement card fees should you lose your card
Do you need to pay a fee to activate the card?
Does that one-time fee cover all fees in the future?
Spend and transfer fees
Besides burning 20 PNT tokens to order your eidooCARD, the eidooCARD has no annual fees and integrates Loopring, so it overcomes the network congestion, resulting in high transaction gas fees.
Loopring processes up to 3.000+ transactions per second, making Eidoo the cheapest decentralized crypto card on the market, and there are no fees for making ATM withdrawals.
The eidooCARD has no annual fees, no wait time, and no hassle. It promises the cheapest transactions and lowest commissions for crypto spending, thanks to Layer 2 settlements.
Depending on which tier of card you select, you can enjoy up to 5% PNT cash back for qualified purchases, so you are rewarded when you spend, no matter where you are and how you spend the funds. The different card tiers offer cardholders further rewards from Netflix subscriptions all the way through to gift certificates from Marriott Hotels, Royal Caribbean, and access to a private jet rewards program.
When referring to card limits we mean the following:
Maximum deposit amounts
The requirement for the DeFi VISA card is level two KYC with a limit balance of 7.500 euros. Blockchain transaction fees are close to 0 thanks to layer 2, except for the top-up and withdrawal operations since the funds come back to layer 1 level.
After reading all eidooCARD has to offer, it shouldn’t really take too much to convince you that the eidooCARD is the way forward and by far the most competitive crypto card on the market.