.
Key points:
- The card can be used to pay in five different cryptocurrencies, with a 0.9% conversion fee charged by Bybit.
- Users must complete a KYC verification process to use the card and have a minimum balance equivalent to โฌ10.
- Supported cryptocurrencies are USDT, BTC, ETH, USDC, and XRP. Bybit's CEO said the card would offer users faster and more secure access to their funds.
Bybit, one of the largest cryptocurrency exchanges in the world, Announced which plans to launch a Mastercard debit card for crypto payments in some European countries and the US. The new card, which will work in 5 different cryptocurrencies, will convert cryptocurrencies to USD, EUR or GBP with a conversion fee of 0.9% during the pay.
Bybit Crypto Card
Set to be launched in cooperation with Mastercard, the crypto card can be used in some countries within the European Economic Region and by Bybit users living in the UK. To use the card, you must have a minimum balance equivalent to โฌ10. Upon checkout, the cryptocurrency is converted to fiat currency, Bybit charges a 0.9% conversion fee. If the payment is made in foreign currency, an extra 0.5% exchange rate is charged.
Supported Cryptocurrencies
When paying, users can use USDT, BTC, ETH, USDC, and XRP. When the card is available, users need to complete their KYC verification to start using the card. Citizens living in a country where the card is available will be able to apply for their cards when they present the correct and complete documents. The cards will be exported by wasteland wanda London-based payments company.
Binance, which took a similar step with Bybit earlier in the year, launched a crypto card for Brazilian users in collaboration with Mastercard. That card supports more cryptocurrencies than the Bybit card.
Bybit CEO and co-founder Ben Zhou said: โBybit users can access and manage their funds more quickly, securely and conveniently. By launching the Bybit card, we offer the next level of reliability, products and opportunities by creating a complete 360 โโdegree journey for our users. We are confident that these innovative payment solutions will improve people's lives and be a step towards a brighter future for cryptocurrency and finance."
