“CoinZoom is not only the first U.S. cryptocurrency exchange to provide a Visa card to its customers but also offers… industry-first features like ZoomMe, CoinZoom’s free peer-to-peer crypto and fiat payment system,” according to Todd Crosland, founder and Chief Executive Officer of CoinZoom.
“CoinZoom also provides customers with a premier fiat gateway for funding their accounts. There are several funding options including both Visa and Mastercard debit card options.”
With the new Visa card, customers can conveniently exchange their crypto to fiat, effectively making crypto much more useful to consumers. With over 53 million Visa merchants around the world, it is expected that the new Visa card will help ease transactions made by its customers. Now, those who are holding their cryptocurrencies can enjoy transacting with their crypto without having to manually sell in exchanges for fiat currencies.
Linked to the card is the customer’s account. This allows customers to select which type of cryptocurrency they want to use with CoinZoom Visa. The options available as of now are BTC, Ripple (XRP), Ethereum (ETH), and Litecoin (LTC), among others.
The CoinZoom Visa Card is equipped to handle payments as well as cash withdrawals. The infrastructure behind the Visa card is set-up with an authorization engine that quickly exchanges cryptocurrencies with fiat currency whenever it is used. Customers are also entitled to a 5% cash-back reward on purchases made with the card.
“We are extremely pleased to work with Visa as we launch CoinZoom. Visa’s dominance as a global leader in digital payments, is a tremendous asset as CoinZoom begins to reshape the global currency marketplace,” Crossland stated.
There are many reasons why people still do not prefer buying crypto as a medium of exchange. Primary among them is that not all merchants – nor even most merchants – accept cryptocurrency as a payment method, unlike credit cards, Apple Pay, or Paypal. Hopefully, CoinZoom’s Visa card will address this concern and increase adoption rates for cryptocurrencies.
CoinZoom is a Salt Lake City, Utah-based digital asset exchange that offers customer-focused tools and technology to make it easy for traders to engage in the crypto-market. Among its services are buying and selling of BTC, XRP, ETH, and other digital asset pairs. CoinZoom is registered in the US and it is regulated by FinCen.
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