One of the biggest priorities in the cryptocurrency world is finding an option for mainstream use, and there’s already been plenty of cases where merchants will accept Bitcoin and other cryptocurrencies for payment. However, there are some companies that have already developed debit-style cards that instantly convert funds into fiat cash when making payments. Two cards of particular interest that Invest in Blockchain pointed out are the MCO Visa Card and the Coinbase Card.
Before now, the Coinbase card was the leader, paving the way for UK clients to use their cryptocurrency in everyday purchases. However, Crypto.com came out with the MCO Visa card, challenging Coinbase for the top spot. This card has a substantial number of advantages, and they already have 100,000 card reservations, primarily centered in Europe and the United States.
The MCO Visa card, due to the connection with the well-known and well-respected payment processor, has already been deemed acceptable by any retailer that accepts Visa. The card was made available in Singapore in October last year, and it will soon become the first crypto card to be available around the world this year.
The services from Crypto.com, which is the producer of the MCO Visa card, include access to Crypto Invest, Crypto Credit, Crypto Wallet, and the Visa card. Presently, Crypto.com already has 400,000 users overall, though co-founder and CEO Kris Marszalek has not made any comments on the users for the card specifically.
The Coinbase card is relatively limited. The only clients with access to the card and its use are customers of Coinbase in the UK. The company plans to make the card available to other European countries as well, though they have not clearly stated which ones yet. There have been no notifications to the public regarding whether Coinbase will provide card services with the United States or the Asian market, showing that the clear frontrunner in this so-called competition is MCO Visa Card.