People often wonder how Cryptocurrencies can be used. The answer to that problem is in Crypto debit cards. They will allow Crypto users to buy whatever they want, wherever they want using a chip linked to their Bitcoin, Ethereum, Dash, or other choice Crypto. Perhaps in the near future we may end up seeing mass adoption with these. One of the major players in the Crypto card business is TenX. On their website you will see an example of a young man purchasing a coffee at Starbucks using his TenX pay card and the simplicity of it. Initially launched in June 2017, this brand of Crypto payment cards has grown to a market cap of nearly $444 Million dollars. Clearly, investors believe in the potential of TenX.
“At TenX we work on making any blockchain asset spendable instantly. When we as the co-founders of TenX got together to start this company, it was our vision to have assets on the blockchain be not only available to industry insiders, but rather something that can be used by any individual user in the “real world”.
Currently TenX is still working on their partnerships and continuing to develop and I see this as being a more widespread mass adoption card. The team behind it is lead by CEO Toby Hoenisch and investors include Vitalik Buterin, creator of Ethereum Blockchain platform.
“Number one, cash is king…number two, communicate…number three, buy or bury the competition -Jack Welch
If you think TenX was going to be the only player in town, you were wrong. Monaco, is calling itself the world’s best cryptocurrency card. They claim to have perfect interbank exchange rates without markups or fees. This creates an incredible convenience for international travelers. Currently Monaco is working on Ethereum & ERC20 friendly currencies to be used with it. The market cap is $196 Million as of August 30th 2017.
Could This Be a Game Changer for Cryptocurrency?
The idea of Cryptocurrency cards is highly disruptive. It will allow anyone to spend these currencies simply by integrating what is known as COMIT or Cryptographically-secure off-chain Multi-asset instant transaction network. It will be interesting to see what will happen to these projects and others like it in the coming years ahead.