It is no secret to anyone that acquiring some digital assets is not easier than ever and yet a challenge for many. Some consider the process of purchasing crypto as simple as breathing thanks to the friendly legislation of home countries and multiple on-ramp services that exist within the existing systems of financing. These systems give anyone the chance to top up their balances and make payments for selected coins in a few clicks.
Restrictions in Place
The citizens of states placed under restrictions regarding the sale and acquisition of digital coins, or lack of regulation of the given sector, simply use the means available to them to make their transactions. The services operating in their countries allow them to connect VISA and MasterCard bank cards and make direct purchases. Some have access to e-wallet connection facilities and find it easy to acquire any kind of coins through trading venues they have available.
Some users do not have access to VISA and MasterCard due to the restrictions placed by international oversight authorities. The sanctions regimes often limit users from connecting to cryptocurrency markets or severely limit their freedoms. Though such realities are brute violations of the rights of users and violate the basic principles of the digital economy, they are nonetheless facts that have to be considered and overcome.
How to Buy
Users in sanctioned countries have discovered that they have the chance of acquiring digital coins through the use of prepaid card facilities. Some services like crypto bank card infrastructures that allow users to acquire a prepaid VISA card abroad and use it to buy crypto with all the adjacent facilities and conveniences. This approach is much akin to the use of a debit card to buy crypto with the exception that a prepaid card is used.
Some exchanges like Coinbase offer prepaid card purchase options, making them ideal solutions for users who are traveling abroad from their home sanctioned countries and want to use cards for making purchases in other territories. MasterCard can also be used in this case and the choice is up to the preference of the individual user. A credit card is another popular option for making buy operations with crypto and can be combined with a prepaid card for greater convenience.
When operating with a prepaid card, holders can use it to buy crypto and any other goods and services that the merchant, retail outlet, or online store allows. Trading venue facilities are not always necessary in this case, since many dedicated crypto bank card service providers give users the opportunity to buy prepaid cards and use them abroad. Such an option is especially relevant if users have a specific limit on the amount they wish to spend, or have the desire to give a gift to someone else.
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Benefits of buying with prepaid cards:
- Ease of accessibility;
- Many avenues of purchasing;
- One-off approach.
Key Takeaways
Buying crypto with a prepaid card is an option, but few would actually resort to the given measure. The reason is because there are plenty native trading venues that allow the acquisition of digital coins using native fiat. The exchange rates are very friendly in most cases and users can safely exchange their fiat for digital assets.
The modern world is full of restrictions and it is difficult for many to take advantage of familiar facilities. Such a heated situation on the global financial and geopolitical arena is having a direct impact on the cryptocurrency industry as well. The impact is that users are being deprived of their basic rights and are thus being limited in their opportunities to engage in the adoption and development of the market. However difficult the situation, the market will continue to evolve and provide users with loopholes and opportunities to continue contributing to the promising digital industry.
