March 25, 2023

NearPay, a Crypto Financial Protocol Now Available Virtually cryptocurrency Cards and wallets for iOS and Android users.

NearPay is now available on all platforms including Web, iOS and Android. The platform allows its users to buy digital assets using credit cards and even through bank transfers.

The entire transaction process becomes easier as users can send, receive and exchange digital assets effortlessly.

Financial Protocol seeks to bring a modern digital banking experience to the entire industry.

The platform will also allow users to make withdrawals through bank accounts only.

In addition, there is a provision for immediate use of a virtual Visa debit card, which allows people to use digital assets for online purchases, with the option to automatically convert cryptocurrencies to fiat.

Currently, NearPay can support 38 cryptocurrencies, including digital assets such as Bitcoin, Ethereum, and Tether (USDT).

Everyday purchases on NearPay accept cryptocurrencies

Cards issued by NearPay now give users the opportunity to use digital assets for everyday purchases. The platform accepts the aforementioned Visa debit cards, but only after the registration process is complete.

The NearPay platform also allows users to track their spending, control PINs, and freeze and unfreeze cards, among other features, the announcement said.

Furthermore, it mentions that,

In addition to crypto payments and conversions, you can also make regular bank transfers in EUR and GBP.In the near future, Wallet will offer up to 15.81% API compounding bonus without any deposit or withdrawal fees

This year, the total global transaction value paid in cryptocurrencies will top $10 billion for the first time.

Additionally, 60% of digital asset owners still choose to use virtual assets as a relatively more private or secure payment method for online purchases.

NearPay COO Ivan Ilin mentioned,

At NearPay, we’ve taken the best features of modern digital banking and brought them to the crypto world to create a simple interface that makes managing all your finances, both fiat and cryptocurrencies, easier than ever easy. With our new iOS and Android apps, our customers can access their NearPay wallet on the go and instantly get a virtual crypto card to spend their assets without having to convert them in advance.

NearPay is a custodial crypto wallet

Many other retail fintech apps let their customers buy virtual assets, but what users buy is actually synthetic, meaning those assets are not allowed to be withdrawn. NearPay is a custodial wallet that allows users to own their digital assets directly and make the assets work the way users want.

For those unaware, an escrow wallet is a wallet in which the private keys are held by a third party. This means that the third party will have full control over the user’s funds, and the user will only have permission to send and receive payments.

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