Spain's Largest Crypto Exchange Bit2Me Launches 9% Cashback Debit Card The card operates on the Mastercard network, which allows for crypto payments at over 90 million businesses worldwide
By Arif Bhatt
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
After a tumultuous end to 2022, the crypto market is witnessing a resurgence in investor optimism. Chart readings indicate a noticeable rise in market activity, as the total market capitalization climbs back above the $1 trillion mark after dipping below it in November. This marks a noteworthy revival of confidence in the cryptocurrency space as 2023 gets underway.
As per a recent press release, Bit2Me, a leading cryptocurrency exchange based in Madrid, has made a significant stride in the world of digital assets with the launch of Bit2Me Card. As the first company to be recognized as a virtual currency service provider by the Bank of Spain, Bit2Me is poised to revolutionize the way traditional investors view and use cryptocurrency with their new debit card release.
Bit2Me Card is a Mastercard debit card that offers 9 per cent cashback on every purchase, making it one of the highest cashback rates available on the market. The card operates on the Mastercard network, which allows for crypto payments at over 90 million businesses worldwide, and it is also accessible through mobile devices, including NFC-enabled smartphones and smartwatches.
Bit2Me Card is linked to eight cryptocurrencies, including B2M, BTC, ETH, ADA, XRP, SOL, DOT, and USDT, and allows for easy switching between crypto wallets at any time. The proprietary software makes it possible for users to select the desired currency for each payment and pay directly from their accounts. Bit2Me plans to add more currencies in 2023, further expanding the options for customers to make international payments.
With instant online payments and cash withdrawals at ATMs, the Bit2Me card operates just like traditional currencies, without the need for prior manual exchange on the Bit2Me app. Additionally, the card is equipped with a range of security features, including the ability to lock and unlock the card, set usage limits, and NFC-related safety support.
According to Leif Ferreira, CEO and co-founder of Bit2Me, the development of Bit2Me Card was a challenging, but ultimately rewarding process.
"Dozens of professionals have been involved in this project, and after two years of work, we have found the key to connect cryptocurrencies to the Mastercard payment network. To do this, we had to modify the transaction flow so that customers can use cryptocurrencies to pay instantly and transparently for businesses. Moreover, we have managed to add up to 9% cash back on purchases."
COO and co-founder, Andrei Manuel, shares the same excitement, stating:
"Our mission is to bring the use of cryptocurrencies closer to everyone. Bit2Me Card allows you to use your cryptocurrencies easily and quickly in your day-to-day life. You can use cryptocurrencies, such as Bitcoin, or stablecoins, such as USDT, at physical or online stores."
With its instant payment technology and mobile capabilities, the Bit2Me Card represents a major step forward in the world of cryptocurrency. As digital assets continue to gain prominence in the fintech industry, Bit2Me's debit card is the perfect option for traditional investors looking to maximize the use of their cryptocurrencies in the real world.
Note: Investment in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.
