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Last Updated on February 9, 2022 by Eddu Oz
What to Expect from the New Ledger Powered Crypto Debit Card
Ledger, a brand well known for its top-notch hardware wallets, notably the Ledger Nano X and the Ledger Nano S, recently launched a crypto debit card which it calls the Crypto Life (CL) Card.
According to Ledger, this card, connected easily and securely through the ledger live, will bring about the ability for investors to make purchases with crypto at more than 50 million merchants and online stores.
This CL card will also support a wide range of cryptocurrencies such as Bitcoin, Ethereum, Tether, etc, just like the ledger wallets do.
With this card, investors can convert their crypto into cash and use it to purchase items and even borrow loans using their crypto assets as collateral.
They can also use this card without the need to sell their crypto and can receive their income on it and even go as far as converting this income into crypto.
In terms of access, you can join the waiting list to be among those who would gain first-hand access to the crypto debit card, and you can also move up the line when you refer your friends to get a free physical card and exclusive access.
To do this, you would have to register to get your referral link, which you would share with your friends to enable them to come onboard.
When will the Ledger-powered crypto debit card be launched?
Ledger has also stated that it will be launching the card in the first quarter of this year (between January and March) for investors living in France, the UK, and Germany, which means at any moment from now, investors in this region will be getting access to the card.
Next, it plans to make a second launch in the second quarter of the year, this time around in the United States. This means that those living in the United States would have to wait a little while longer before having access to the card.
There is no known information as of now when investors in other regions of the world, such as Africa, Asia, South America, and Australia, will have access to the crypto debit card.
Nonetheless, it is believed that information regarding this will be made known to the public in the coming months.
What to Expect from the Ledger Powered Crypto Debit Card
1. With the card, you can top up and manage your card easily and securely through ledger live.
2. You can convert your fiat with the card at the time of purchase.
3. You can get access to liquidity by using your card as collateral.
4. You can receive your paycheck in crypto.
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Note: These features will only be completely available to you depending on your region of residence.
Also, for clarification, it is important that you know that entering the waiting list does not in any way mean that you will get the Ledger powered crypto debit card.
It also does not, in any event, constitute a commitment to deliver the CL Card or a commitment to the features that will be offered by the CL Card.
You only have a chance of getting the card if you are a resident of one of the regions where Ledger plans to launch the card.
The CL Card and its features are provided to you solely by Baanx Group Ltd., UK, Baanx US Corp., United States and Frozen Time UNIPESSOAL LDA, EU and not by Ledger.
The CL card is also a Visa debit card, which means you can only use it in regions where the Visa network is allowed.
Lastly, if anything, joining the waiting list for the Ledger powered crypto debit card means that you will get to receive news and updates about the card after your data has been transferred to Ledger.
In times like this, the use of crypto for payment services has long been talked about, but Ledger is taking it a step further by introducing this crypto debit card.
It also means that it has joined the likes of Coinbase and other Cryptocurrency Exchanges that are taking action when it comes to linking crypto with traditional financial services.
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A move that will, given time, trigger other crypto companies out there to take the right steps as well.