April 11th, 2019
Bitcoin and other cryptocurrencies have become an everyday norm around the globe. These technologies continue turning the financial industry through their astonishing potentials. The cryptocurrency market has attacked many players who have found various ways to engage in the space. These digital currencies can be exchanged for local fiats, for other cryptos, or used as investment instruments among many more.
One common practice is the buying and selling of Bitcoin and other cryptos through different avenues. As more players join the industry, new ideas and methods are being incorporated. One such idea is the use of Prepaid Visa in selling Bitcoins. Bitcoin Prepaid Visa cards allow users to load up the card using BTC, which is then converted to fiats such as USD, EUR or any other fiat. Users can link the card to their fiat accounts to allow access to both crypto and fiat transactions.
The flexibility of these cards has helped many bitcoin traders to use them in receiving their funds. They are user-friendly and come with many advantages.
This idea is relatively new with only a few players allowing traders to use prepaid cards for the trade. Some like Bitcoin of America, who recently launched their bitcoin prepaid card are looking for ways to make the card suits users needs. Like your standard prepaid cards, this also allows traders to sell their Bitcoins and have the funds loaded onto a prepaid credit card.
A step-by-step guide to selling bitcoin to a prepaid card
1) Open an account
The first step is to create an online account with exchanges that support prepaid card services. You will need to make sure your account gets verified so you can start selling Bitcoin or other cryptocurrencies for a prepaid card. To get started on Bitcoin of America, you need to click on the get started button then fill in the details.
2) Create a trade
Once you create an account, open up the TRADE page and select the amount you wish to sell for a Prepaid card. Generally, the minimum amount you can receive in your card is $25.00 and a maximum of $1999.00.
3) Enter an email address
Enter an email address you would like to receive your Prepaid card. After keying in your email, you will need to sing in your name, read and accept terms of services. Finally hit the sell button.
4) Wait for the card
Some exchanges like Bitcoin of America offer INSTANT money when you choose the prepaid card option.
5) Spend your money
Once you receive the card, you can use it online or obtain a physical card in the mail. Remember to select prepared Visa as the method to get payments for your sales.
Benefits of using Prepaid Credit Card
There are many benefits to using these cards to sell bitcoins. Firstly, selling bitcoins using the cards allows users to get their funds instantly. Some exchanges offer same-day transaction enabling users to get their funds within 3 minutes. This is very convenient especially if one is needed to use the funds immediately. It eliminates the hustle of waiting days to get your money.
Secondly, one can immediately start using the card once they are approved. Additionally, the card can be used across the globe to make purchases of goods and services. People using this method are also allowed to load up to $1999 per card. Some users have used these cards as a means to continue their investments in cryptocurrency.