Crypto Beginner

Strike’s new Visa card lets users earn crypto rewards

strike visa card BTC

Strike, a popular crypto payment app built atop the Bitcoin Lightning Network plans to dive into the Visa card space. Announced via Twitter, Strike’s new ‘Strike Visa card’ will allow users to use crypto for payments and earn rewards in the process.

 

Innovative payment solutions

Bitcoin Lightning Network— layer-2 for the Bitcoin network— is meant for faster transactions and payments. Many applications are built on the Lightning Network, and Strike is one among them. In April, Strike had struck a deal with Canadian e-commerce firm Shopify to enable merchants to accept payments in crypto.

Features of Strike’s Visa card

The new Visa card will enable users to buy and sell BTC. In a series of tweets, Strike mentioned that the card would have the send (receive) funds functionality, and users would be able to spend using Google Pay and even Apple Pay (in select countries). Besides this, they can also earn rewards on transactions.

Strike said it will donate one percent of profits made from the card for ‘Open-Source’ Bitcoin development. Strike also mentioned that the arrangement would be like “funding Bitcoin with every swipe.”

Few details have been made available regarding the rollout of the new Visa card. As of now, the firm has asked some of its prospective customers to join the waitlist for early access.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user’s own risk.

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