New Visa Card Allows Bakkt Users To Spend Bitcoin In Stores And Online – Fintech Bitcoin News

Customers using the Bakkt app can now apply for a debit card which they can use to pay with Bitcoin at merchants who currently do not accept cryptocurrencies. The Visa Virtual Card can be added to Apple Pay or Google Pay to purchase items from thousands of merchants that support the mobile payment systems.

Bakkt Card can be linked to Apple Pay and Google Pay

This year’s all-time highs have convinced many to invest in cryptocurrencies, but digital assets still have a lot to do to achieve widespread adoption in everyday payments. Debit cards issued by crypto companies bridge the gap between Bitcoin and merchants who don’t yet accept digital coins. Now there is a new offer on the market. Bakkt crypto marketplace has launched a debit Visa card that “maximizes users’ ability to spend digital assets.” The card enables Bakkt customers to use their bitcoin (BTC) and fiat cash (USD) balances to purchase goods and services both online and in-store.

The card can be used through the popular Apple Pay or Google Pay mobile wallets that open the door to thousands of retailers around the world. Commenting on the announcement, Bakkt CEO Gavin Michael:

Our primary goal is to give consumers more choice, and the Bakkt Card takes Bitcoin owners from their purely online past to a world with countless opportunities to use the digital assets in their daily lives.

Users can order the Visa card through the Bakkt app

Instead of selling their crypto and waiting for a bank transfer, Bakkt users can now go into a store, tap their Bakkt card and pay for the item they want to buy, explained Gavin Michael. The manager added that selected customers will soon be able to use the same payment option with their reward points.

The Bakkt crypto card is issued by Sutton Bank, a member of the Federal Deposit Insurance Corporation, under a license from Visa USA Inc. To get a virtual visa, users need to apply through the Bakkt wallet app. The platform says it “enables this real-world spending, along with the ability to invest and hold in Bitcoin with no transaction fees.”

Although Bakkt does not charge a per-transaction fee, it sells BTC to its customers at a price that is above their “calculated market price,” the company stated in a press release. “Our spread for Bitcoin purchases will not be more than 1.5% in 2021,” said Bakkt in the announcement.

Do you use a crypto debit card and if so, which one? Let us know in the comment section below.

Tags in this story

Apple Pay or Google Pay, Bakkt, Bakkt app, Bakkt card, Bitcoin, BTC, card, crypto, crypto card, cryptocurrency, debit card, merchant, mobile wallets, purchase, retailer, spending, VISA, Visa card

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