NearPay brings virtual crypto cards and a wallet for iOS as well as Android users
NearPay a crypto finance protocol has now launched virtual crypto cards and a wallet for iOS and Android users.
NearPay is now made available on all platforms which include the web, iOS and Android. The platform allows users to purchase digital assets using a credit card or even via bank transfer.
The entire transaction process has become easier, since users can send, receive and exchange a digital asset without any problems.
Finansprotokollen has tried to bring a modern digital banking experience across the industry.
The platform will also allow a user to make withdrawals only through a bank account.
Additionally, there is a provision to instantly use a virtual Visa debit card that allows one to use digital assets for online purchases with an option to automatically convert crypto to fiat currency.
Currently, NearPay can support 38 cryptocurrencies which include Bitcoin, Ethereum and Tether (USDT) and other digital assets.
Crypto accepted for daily purchases on NearPay
The card issued by NearPay has now given users a chance to make daily purchases with digital assets. The Platform accepts Visa Debit Cards as stated above, but only after the registration process is completed.
The NearPay platform also allows users to track the spending, check the PIN and also freeze and unlock the card along with other features, the announcement said.
In addition, it is also mentioned
Along with crypto payments and conversion, you can make conventional bank transfers in EUR and GBP. In the near future, the Wallet will provide earning rewards with a compound rate of up to 15.81% API with no deposit or withdrawal fees
Payments made through cryptocurrencies will surpass $10 billion in total transaction value globally for the first time this year.
Additionally, 60% of digital asset owners still choose to use the virtual asset as a relatively more private or secure payment method for online purchases.
Ivan Ilin, COO of NearPay mentioned,
At NearPay, we’ve taken the best features of modern digital banking and brought them to the crypto world to create a simple interface that makes it easier than ever to manage all your finances, both fiat and crypto. With our newly launched iOS and Android apps, our customers can access NearPay Wallet on the go and instantly get virtual crypto cards to use their assets without converting them beforehand.
NearPay is a crypto wallet
Many other retail fintech applications allow their customers to purchase virtual assets, but what users buy is practically synthetic in nature, meaning that these assets are not allowed to be withdrawn. NearPay is a custodial wallet that allows users to directly own their digital assets and make the assets work the way a user wants to use them.
For those unaware, a custodial wallet is one where the private keys are held by a third party. This means that a third party will have full control over a user’s fund while the user will only have the right to give permission to send to receive payments.
