Is Crypto Ready for Daily Spending?
Is Crypto Ready for Daily Spending?
We’ve seen crypto debit cards and partnerships aimed at making crypto-to-fiat conversions seamless, but is this enough for mass adoption? Big players such as Mastercard and Coinbase think it is, and newer companies like Zypto are starting to be competitive. I see fees, volatility, and merchant acceptance are still barriers. Will we soon be spending crypto as easily as cash, or are we still far from practical, everyday use? What’s holding it back most: fees, complexity, or something else? Are we close, or is putting currency back in crypto just a dream for now?
If you are talking about people who aren’t already into cryptocurrency, I don’t expect so. The card may be as easy to use as any other debit, but requires a weird account that you need to top off at some exchange. The debit card they already have doesn’t require the extra work; their paycheck is already being deposited into the account backing it.
I imagine such cards being great for people who are already purchasing large amounts of cryptocurrency themselves, or have a job paying in crypto.
I don’t think most people really care about which currency they use; they just want the safest and most convenient way to buy things and pay bills.