Online cryptocurrency exchange MedeTrade will allow transactions in Dash cryptocurrency from its Visa cryptocurrency debit and credit card launched last week. Thus, users can deposit Dash in their digital wallets on MedeTrade and spend it via the MedeTrade Visa card.
The MedeTrade Visa card has both verified and unverified versions. The transaction and withdrawal limits are higher for verified card users compared to unverified ones. The difference in the limits between verified and unverified users is to prevent money laundering and fraud. The card’s issuer is the Bank of Valletta in Malta.
MedeTrade also offers 3% BTC back into the user’s wallet for each in-store purchase made using the Visa card. Thus, users will pay less while making their payments via the MedeTrade Visa card. Also, the crypto-back will happen without minutes. So, if a user is in a mall and the cashback takes two days, it will not be useful for him, but if it takes two minutes, then he can utilize his mall visit to buy more things with the same amount of cryptocurrency.
The MedeTrade Visa card also provides verified users with a credit line of up to 700 Euro. This will allow users to pay in Euros at establishments that do not accept cryptocurrency. Thus, users will not have to bother about whether the places they are visiting are allowing cryptocurrencies or not. If the restaurant does not accept cryptocurrency payments they can still enjoy the food and use the card to pay the bill in Euros. This is the best option till such time when cryptocurrency adoption becomes widespread.
About 4,800 merchants and service providers worldwide accept payments in Dash. More than 200 exchanges and brokers trade in Dash. The reason for the rapid growth of Dash is a low transaction time of 1 second and low transaction cost of 1 cent per transaction.