CoinSpot unveils CoinSpot Mastercard
Australian customers can now make everyday transactions using a low-impact, competitive, cryptocurrency-backed Mastercard powered by EML Payments.
Australia’s most secure and most trusted crypto exchange CoinSpot has officially launched its new cryptocurrency-backed CoinSpot Mastercard.
Based on overwhelming customer demand, the card will allow customers to spend any of their holdings in CoinSpot’s 370+ listed cryptocurrencies, including the highly requested Ethereum (ETH), at any participating Apple Pay and Google Pay retailers and websites.
The digital-only card has no annual sign-up fee and is backed by CoinSpot’s world-class customer support, meaning Aussies can always feel safe when using the CoinSpot Mastercard.
With other crypto cards in the market currently winding back benefits and introducing new, prohibitive fees, the CoinSpot Mastercard is a highly competitive offering with just a simple 1% conversion fee and no ongoing, annual or activation fees.
Many cryptocurrency debit cards are also limited in the range of currencies available to the user. With the CoinSpot Mastercard, you have the freedom to spend your crypto like cash. CoinSpot customers can make purchases easily using any coins they hold on the platform, from the devices they carry every day – and check out with just a tap.
“The launch of the CoinSpot Mastercard effectively makes this the easiest and most secure way to spend your cryptocurrency in Australia and around the world,” says Gary Howells, CoinSpot’s Chief Product Officer.
“This has been a long time coming, and we’re thrilled to be a leading force in expanding the utility of cryptocurrency in Australia.
The digital-only card is powered by global payment solutions platform EML, who are proud to have developed a payment platform that will enable more people in Australia to use their cryptocurrency in a secure and convenient way.
”Australia has one of the world’s highest cryptocurrency adoption rates, with 23% of all Australians owning one or more digital assets,” says Rachelle St. Ledger, CEO Australia at EML Payments.
“As cryptocurrencies move from the fringe to the early majority with industry shapers like CoinSpot, EML Payments is creating leading-edge solutions to allow crypto businesses and their users to utilise their assets in the real world with the speed, security and simplicity of traditional payment methods.”
The CoinSpot Mastercard launch comes soon after CoinSpot’s announcement that they have become the first Australian crypto exchange to complete an external statutory financial audit, a move intended to reflect the business’ commitment to providing customers with stability and the public with complete transparency.
How to use the CoinSpot Mastercard:
The CoinSpot Mastercard is available for both Apple Pay and Google Pay via the customer’s smartphone wallet giving customers access via the CoinSpot mobile application on all Apple and Android phones.
Customers will need to have a fully verified CoinSpot account with Two-Factor Authentication (2FA) enabled.
Customers need to log into their verified CoinSpot account via the CoinSpot mobile app, activate their CoinSpot Mastercard, link it with either their Apple or Google wallets, and then select the cryptocurrency they wish to link to the CoinSpot Mastercard. All major retailers and select websites accept Apple Pay and Google Pay.
Upon making a transaction with the CoinSpot Mastercard, the cryptocurrency linked to that card is instantly converted to AUD, which is then used to complete the transaction in real-time.
Cardholders can only assign one cryptocurrency to the card at a time. However, the connected cryptocurrency can be changed easily at any time using the CoinSpot app or website, and you can have five total cryptocurrency preferences selected in your account.
Inside the CoinSpot application, there are several easy-to-use security options; from card freezing to preset spending limits – and the ability to turn the card ‘on’ or ‘off’ with just a tap.
If you’re not currently a CoinSpot customer, you can join for free at: www.coinspot.com.au/register