With the introduction of KuCard, a payment method, cryptocurrency holders can now transact with their digital tokens thanks to KuCoin. The European Economic Area, or EEA, is the only area in which the initial operation is allowed. In the next days, KuCard will begin to accept the EUR-USDT conversion as a form of payment, thereby adding more fiat currencies to its list. In a similar vein, KuCoin plans to increase the number of places its product is available in the future.
Until then, users can continue with the identity verification and crypto debit card claim process. It is anticipated that this invention would close the gap between the digital and traditional payment environments.
KuCard allows for hassle-free spending at any store that accepts VISA. It attempts to increase the cryptocurrency’ usefulness and liquidity. Put another way, you don’t have to worry about what happens to digital tokens that remain in your wallet or if their use will ever expand into the real world because you can use them just like any other fiat currency.
The purpose of KuCard’s flexibility is to guarantee that users maintain control over how they spend their money. When consumers transact, KuCard rewards them with cashback and discounts. It includes two essential features—transaction history and notifications—and has been connected with both Apple Pay and Google Pay. They will be able to monitor their expenditure and be aware of the offers that are accessible to them at any given time thanks to this.
Only EEA residents are eligible to register for KuCard. Those who meet the requirements and successfully complete the identity verification process will receive a crypto debit card from KuCard. KuCoin has vowed to have its customer service representatives on duty around-the-clock in order to assist users in obtaining the aforementioned debit card. To use their KuCard, individuals also need to register on KuCoin. To begin and finish the process, adhere to the instructions provided in the KuCoin review. The only way to utilise a physical KuCard is to activate it at KuCoin.
The EUR has been selected because it is the local currency in the area. The reason why USDT is relevant is because of its consistency, which lessens the unsettling aspect of volatility. When a KuCard is issued, a one-time cost of €9.99 is required. The crypto debit card may be lost or damaged, and there will be a cost of €9.99. Both the cancellation of the card and purchases made in euros are free of charge. Only when transactions take place outside of Europe is 2% of the transaction fee applicable.
Euro withdrawals made within the region will be charged €1.50 for each transaction, while withdrawals made outside of Europe will be charged 2%.
While there is no cost for keeping an insufficient amount in the event that a transaction is denied, KuCard requires an annual maintenance fee of €10. Customers may only choose to pay an extra €30.00 for Express Delivery of the crypto debit card.
A KuCard can only be owned by one person and is associated with their KuCoin account. Customers can immediately begin using their crypto debit card after approval.