Finally, cryptocurrency has become accessible and clear for everyone! Perhaps it will headline the essence of all further narrative concerning cryptocurrency and its prevalence in the world. Everyone knows Bitcoin, many wish they had bought it for 10 cents, $ 1, $ 100, etc. up to the current rate up. Others regret buying it for $ 20 000, $ 15 000, $ 10 000, etc. up to the current rate down.
There is a trend of growth of capitalization and the number of participants, even with a complex input. There is a trend towards legalization since states are stumped. The process is self-regulating and developing day by day, and if something cannot be prohibited, it should be allowed and become a source of income and Vitalik Buterin said the following concerning that: “I think that too much attention is paid to the recognition of ETFs connected to Bitcoin and Ethereum, while the possibility of buying and using cryptocurrencies, for example, by purchasing prepaid cards of $ 5– $ 100, remains unheeded. ETF is suitable for rates inflation, but prepaid cards will much better contribute to the actual global recognition of cryptocurrencies.”
Great, clear, simple and convenient idea. Almost win-to-win. People will buy anything that is sold in every store because the advantages of using are clear: low fee, instant payment, no intermediaries and transaction security.
Let’s check if there are such services today and evaluate their quality.
The first service that pops into sight is https://yellowcard.io. It is under development, we wish them good luck and we are looking forward to it!
The second service we find is https://getcryptopoints.com:
The model of these services is the same. Central Asia – retail network. Issuing cards backed up and secured by cryptocurrency. Favorable rate, the opportunity to make money actually on the cards when they are sold, thereby increasing the turnover of cryptocurrency in the world, which will directly affect its further capitalization. And the most important thing is that the introduction of such cards will allow the cryptocurrency to break free since this stimulates an increase in the number of transactions for the payment of goods and services. In 75% of cases, cryptocurrencies are considered as an investment tool and a tool for trading with gain from currency adjustments. But it was designed and created to replace fiat money. Full properties of cryptocurrency are revealed with mass use, and cards are the intermediate tool that will help cryptocurrency to increase penetration.
That is, services are intended for retail, in order to use them you have to take four steps:
Formal contract https://getcryptopoints.com/pdf/Dealer_contract.pdf
- Receive and pay the invoice
- Receive the ordered card value via DHL / EMS
- Use it or put up for sale with a markup of 5% due to the exchange rate. One should always pay for convenience! Who? The buyer!
5% is a small percentage, you will say. Nope! Let’s calculate:
- Bitphinex rate – $ 6786
- GetCryptoPoints rate – $ 6040
- The sale value of the card face value of $ 100 + 5% = $ 105
- The capacity of a profitable salespoint – 10 000 people/day
- Interest in cryptocurrency in a small amount for personal needs – 1%
Income calculation: (10,000 * 0.01) * 5 = net income $ 500 / day
Then you decide: you can drive up the % of price up to 20%: 120/6786 = 0,01768 BTC. GetCryptoPoints – 120 (100) / 6040 = 0.016556 BTC. A total of 0.001124 BTC is less profitable for the customer, but it is convenient and accessible in any stall or store. The income of the retailer, in this case, is $ 20 dollars from each card sold, add. the actual cost overrun is $ 6.
All products that make life easier always are of high demand and popularity in the markets. So it was with cryptocurrencies in 2009-2018, so it will be with prepaid cards.