Press releases

Press releases

Eidoo’s crypto-powered debit card launches with industry first 10% crypto cashback feature

by Blocks99

6 months ago

Non-custodial wallet meets finance with Eidoo Card, giving card holders full control over their digital assets with the convenience of real-world payments.

eido launched debit crypto card

London, 16th March 2020: DeFi platform and multi-currency wallet Eidoo is now taking pre-orders for its new debit card, which enables all UK and EU-based users to easily convert their Bitcoin and Ether to spend in store or online. This new system links a user’s decentralized Eidoo wallet to their very own debit card, the Eidoo Card, with up to 10% crypto cashback on qualifying purchases.

Card holders can now use their crypto, or even withdraw their funds from ATMs, without the hassle of going through a centralized exchange. The Eidoo Card will be as widely accepted as any other credit or debit card. Card holders will have a convenient mobile experience while on the go and still be afforded the full suite of benefits that blockchain finance offers. Eidoo is a non-custodial wallet, so a user’s private keys, and therefore their funds, always remain in their full control.

“Cryptocurrency continues to stream into the global economy, spreading the immeasurable benefits of decentralized finance even further. Yet holders of these digital assets still struggle to find meaningful and practical ways to spend their cryptocurrency in their daily lives,” says Thomas Bertani, CEO of Eidoo.

“We want the value of cryptocurrencies to transcend beyond the online realm so they make a real-world impact, helping to launch the next-generation of finance into the mainstream.”

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Eidoo offers Basic, VIP and Black (metal) cards, making crypto easily usable and accessible in day-to-day life for any level of holder. With regular “crypto cards”, customers must preload their funds onto the card which can sometimes take days and incur fees along the way. The Eidoo Card is directly linked to the card holder’s wallet, giving them a swift and seamless way to spend their crypto.

Eidoo users can top up their wallet balance and use their cards like any other debit card – a rare function in the crypto space. Their BTC or ETH is easily converted into Pounds or Euros and then loaded onto the card via the app, making their digital currencies as easily spendable as fiat. Other popular tokens and assets will be introduced in the near future.

Eidoo users are required to stake (lock up as collateral) or burn an amount of EDO to pre-order a card. Each card plan requires a different amount of EDO to be staked, and each unlocks a corresponding cash back reward. Any crypto cashback will be calculated in EUR and denominated in EDO tokens.

To continue its expansion into the DeFi industry, Eidoo recently released their DeFi Exchange, a dedicated feature of the app where you can discover and interact with exciting new DeFi platforms and tools. From here you can easily visualize and manage your entire portfolio, with the option to buy and sell tokens any time you wish.

“We can erase the flaws embedded in today’s traditional finance. DeFi is an opportunity to build a better economic system from the inside out, ensuring that people all around the world – from unbanked groups to dissatisfied digital natives – have equal and fair access to financial opportunities. We need to start by putting products and tools in their hands that make it as easy as possible to participate in this new system,” says Mr Bertani.

Download Eidoo.App to preorder your Eidoo Card now.About Eidoo

Eidoo is your portal to the exciting new world of decentralized finance. As an app for both mobile and desktop devices, you can buy, store and exchange all major cryptocurrencies. Explore the DeFi ecosystem, all from the safety and convenience of a single app. Earn interest on your digital assets, or acquire tokens with inbuilt investment strategies. Participate in, or even launch, token sales that are 100% compliant with local regulations.

Media contact

Savannah Lee

slee@eidoo.io

 

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