Full House: Crypto Cards Show a Strong Hand in 2019

Despite many failed efforts in recent years, crypto debit cards are enjoying a second wind thanks to a surge in crypto prices over the summer.

With some of the crypto world's biggest names launching crypto debit cards, Cointelegraph takes a look at the latest updates in the burgeoning payments sector.

Crypto debit cards represent the transitional stage that cryptocurrencies are currently evolving through.

"Unlike other crypto cards - they force you into fiat at the moment of your deposit which means you're carrying around a glorified prepaid card that you could buy at Walgreens or Wal-Mart. They charge you for the deposit directly - undercut the value of your asset and then you're stuck in cash with no easy way to get back into crypto. We allow the users to stay in crypto so they can easily withdrawal whenever they want and the process is seamless."

Historically, the crypto community has complained about high fees and regulation issues in connection to previous efforts to launch crypto debit cards.

Customers in Spain, France, Italy, Ireland, Germany and the Netherlands will be able to sync the cards to their Coinbase accounts to spend their cryptocurrencies at any merchant that accepts Visa cards.

At the time, news of the UK crypto debit card launch received a mixed response from online members of the crypto community.

Although Mastercard and Visa have a lukewarm approach to cryptocurrencies, the same cannot be said for ex-Visa exec Steven Parker, who now heads Crypterium, a crypto payment firm that announced it has shipped around 4,000 crypto debit cards since its launch.

Australia's bullish environment proves stable for crypto cards.

"We've personally seen a massive uptake and interest in our cards since officially launching the program. We believe this to be the result of making the card an easy and intuitive product with a focus on removing many of the pain points associated with other cash out options. Cards can be loaded with multiple coins with support for additional coins constantly being added, funds are instantly loaded onto the card when a transaction is made - there is no waiting for clearing times that you'd see with regular cash out options, all made more appealing to users with cards operating outside of the traditional banking system."