The Changing Crypto Debit Card Market in Europe
The crypto debit card market in Europe is undergoing a transformation, with Binance discontinuing its service and Bybit expanding its offerings. In late October, Binance announced the closure of its Visa debit card by the end of December, while Bybit introduced a new promotion to attract European citizens to its Mastercard.
Bybit Unveils Trio of Bonuses for New Users
Bybit introduced its card in March for European residents and has already gained popularity, especially with the news of Binance exiting the region. Bybit is offering a 10EUR bonus for new users who apply for a Bybit Card, an additional 5EUR for making the first transaction, and a 10EUR bonus for those who make a first deposit to Bybit.
Crypto Debit Cards in the Digital Age
Millennials and Gen X and Z consumers are familiar with digital assets, including crypto and stocks, and are using neo banks and crypto debit cards to manage their finances and assets. Binance customers will need to find a new crypto debit card provider as the company’s decision to close its EU service coincides with the introduction of stricter legislation for crypto businesses.
A Convenient Way to Cash Out
Crypto debit cards offer a convenient way for users to spend and cash out their digital assets in the physical and online marketplace. These cards also provide a way to move funds from the cryptosphere back onto traditional fiat rails, enabling users to withdraw cash from ATMs or hold funds in a virtual account before reinvesting in crypto when market conditions are favorable.
### News source: zycrypto.com