Cryptocurrency is gaining mainstream adoption little by little. This is mostly seen in the recent partnerships between MasterCard, a FinTech company, and some crypto companies.
Yesterday, Coinjar joined this league as it announced the launching of the Coinjar card. Coinjar could do this through a partnership with MasterCard. They can use this Coinjar card anywhere MasterCard is allowed. The fiat currency that serves as the benchmark is the Australian Dollar.
When the users want to buy something, they will have to choose the cryptocurrency they want to spend. The Coinjar card will convert the particular cryptocurrency to its equivalent of Australian Dollar, and make the payment.
According to the release, these transactions should be as seamless and fast as possible because it would not even preload.
Going further, Coinjar users only have to request and activate their free Coinjar cards. Although there are no monthly fees, there is however a transaction fee of 1%.
This partnership between Coinjar and MasterCard will reportedly give better user experiences
Ryan Zhou and Asher Tan co-founded Coinjar in the year 2013. Since then, the company claims to now have more than 400,000 users, and more than $75 million in custody.
Coinjar, an Australian-based exchange, is a digital currency exchange where people can spend cryptocurrencies just like the general fiat currencies. Put in another way, Coinjar provides fiat-crypto trading.
They support a wide range of cryptocurrencies including the popular Bitcoin.