Cryptocurrency debit cards are one example of how virtual currencies are revolutionising payment technology and becoming more widely accepted. These crypto cards function similarly to any regular debit card but are linked to a digital wallet instead of your bank account. This way, you can quickly pay with cryptocurrency for everyday purchases. BitOasis and Mastercard have joined to provide crypto card services to the Middle East, making it easier for people to use cryptocurrency in daily transactions at retail stores and online marketplaces.
Buyers using BitOasis may spend their crypto holdings at over 90 million retailers worldwide. Once BitOasis receives the necessary regulatory clearances, it plans to release its first crypto cards to the market sometime in the first quarter of 2023. In the event of the launch, crypto users can take advantage of this latest payment technology by using the best crypto card in UAE.
New Payment Mechanism To Boost Crypto Use In The Middle East
The new payment technology will boost cryptocurrency adoption by allowing users to make purchases using cryptocurrencies throughout Mastercard’s network. Customers have consistently desired crypto to be useful in their day-to-day activities. According to research, 47% of Middle Easterners think cryptocurrency will be the dominant form of payment in the future. BitOasis is the most extensive cryptocurrency network in the GCC and MENA. Therefore it’s exciting that they’ve partnered with Mastercard to allow their clients to use their BitOasis wallets to buy anything at any store that accepts Mastercard crypto. BitOasis’s goal is to make crypto payment transactions even more secure while facilitating a new digital financial system that is open to everyone, is governed by the law, and is current in the real world.
Also read : Crypto Trading Just Got More Legitimate: BitOasis Secures Broker Dealer Licenses in Dubai
Customers To Have A Streamlined Cryptocurrency-Based Shopping Experience
Globally, merchants are becoming more receptive to taking cryptocurrency payments or accepting crypto cards, with 46% of retailers polled by PYMNTS.com saying they had adopted the use of virtual assets. By completing a straightforward and legal online registration process with the BitOasis application, users will be granted both virtual and real BitOasis cards, enabling them to trade smoothly in-person and online while also enjoying a variety of Mastercard crypto perks. BitOasis users can convert crypto to fiat money to make purchases and pay. The number of people using digital tokens in the Emirates has been relatively low, although 40% of those who do report increased use over the previous year.
Payments And Withdrawals In Cryptocurrency Are No Longer Seen As Cumbersome
Mastercard’s collaboration with BitOasis makes using cryptocurrencies for payment less hassle. The two companies will work together to alleviate cryptocurrency users’ concerns, raising consumer awareness and acceptance in the region. Further, the partnership has also made it possible for customers to pay with cryptocurrency in a risk-free and convenient manner.
