Right from the beginning until now, there are debates and challenges surrounding the use of cryptocurrency. With that being said, many business owners are ready to embrace cryptocurrencies for transactions due to various reasons.
What is cryptocurrency?
For the uninitiated, Cryptocurrency is a digital currency that relies on encryption technology to transfer the value through the internet. Further, this currency operates independently of a banking system. In fact, cryptocurrency is another way, businesses can accept payments from customers or pay vendors in exchange for goods or service.
The advantages of using cryptocurrencies including quick transaction, lower fees than credit and debit cards, the inability to reverse transactions, easy international use with no foreign transaction fees/exchange rate and much more.
But, Crypto is still not widely accepted everywhere, and the places that do accept crypto are not usually the place that an average person wants to shop, like malls, movie theatres, or local bars. Since it’s not widely used and evolved spending crypto is a long and difficult process involving exchanges, personal keys, and lots of waiting.
2gether just did something amazing!
In most cases, it’s a good idea to go ahead and accept cryptocurrency. And that’s what Madrid-based banking startup 2gether just did. As per the recent development, 2gether is launching a prepaid Visa debit card that allows users to spend cryptocurrencies with just a swipe.
Just like traditional money!
According to the company, the prepaid Visa debit card allows consumers to spend crypto as easily as if they were euros anywhere, instantly without fees.
Founded in 2016, the digital platform has successfully bridged the gap between crypto users and the mainstream market to simplify customers’ financial decisions. After its successful launch in Spain, 2gether is gearing up to announce its official European launch.
Something only 2gether customer can do!
- Pay in Euros or instantly convert 1 of 7 cryptocurrencies to pay with the Visa card: ETH, BTC, XPR, BCH, EOS, XLM, and LTC
- Hold and manage euro and crypto balances in the same app
- Buy and sell crypto in two clicks with no mark-ups to exchange prices
The company is planning to incorporate AI and machine learning technologies to assist with financial management, product choices, and investment decisions best suited to the user.
All you need to do
EU citizens can now download the app, pass the KYC process, and be at the top of the waiting list to start using 2gether’s functionalities. Users can now download the app on Google Play and the App Store.
“2gether is developing the bank of the future, where consumers can take full ownership and control of the services they use and go beyond solely interacting with euros and dollars,” says Ramón Ferraz, CEO of 2gether. “To date, there has been no consumer-owned, tangible application that connects crypto and the mainstream market. We’re proud to be one of the first companies in the crypto space launching a token sale with an already finished product.”
Is crypto on right route?
As one can see, the crypto industry has grown by leaps and bounds since the inception of Bitcoin. Fintech, on the other hand, is transforming the working culture of the financial industry, where more people are getting onboard. All said and done, is cryptocurrency a viable payment option? Do let us know your opinion below.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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