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Visa Makes It Easy to Use Cryptocurrency with Its Credit Cards

Cryptocurrency just got a new ally with Visa thanks to a decision to allow debit card withdrawals in six countries.

Those are Italy, France, Germany, Spain, Ireland, and the Netherlands. This is an addition to its policy already allowing debit card withdrawals of cryptocurrency in the UK. Visa is adopting cryptocurrency in a big way, making it easy to turn cryptocurrency into fiat currency with no need for a centralized exchange to get in between.

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Transak is Visa’s new partner in this venture, and this infrastructure provider makes it simple for visa direct users to make payments and withdrawals using cryptocurrency. Users will be able to take Bitcoin (BTC) and other major cryptocurrencies, pulling them from their MetaMask wallet or other accepted wallets to make withdrawals from an ATM using their visa debit card. Because this streamlines the entire exchange process, it could mean a big boost to the cryptocurrency industry. In the eyes of many visa card holders, cryptocurrency will suddenly seem like a more attractive and functional investment.

Major Inroads for Crypto Acceptance and Functionality

What this means in sheer numbers is that there are now 130 million places where cryptocurrency can be used thanks to the integration with Visa debit cards. Wherever the Visa card is accepted, cryptocurrency will be as well without any hassle from vendors or need for new regulations specific to each European country.

The new process allows for real time withdrawals, which means that users can cash out their cryptocurrency as soon as it peaks. There’s no need to hold on to it and hope it stays high or transfer it to another cryptocurrency and hope that currency keeps its value.

Transak offers global coverage, which means that Visa cardholders could use their card to withdraw currency from 40 different cryptocurrencies into local monetary units, and it extends to users from 145 countries. This could be the beginning of cryptocurrency being widely accepted by the mainstream, as it is much more accessible and functional since it is using a withdrawal method that many people are already using.

 

 

 

 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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