Ledger unveils its “Crypto Life” card – What features does it contain?


Ledger enters the crypto-card business

The maker of cryptocurrency wallets Ledger has just announced the upcoming launch of a debit card: “ Crypto Life “.

Holders of this crypto-card will be able to directly spend their crypto-assets on everyday purchases, or open a line of credit using cryptocurrencies as collateral. This option gives the holders of the crypto-card the possibility of using their card without having to sell their crypto-assets.

At the same time, it will also be possible to receive part of his salary to then convert it into Bitcoin (BTC) or Ether (ETH).

Relying on the Visa network for processing transactions, Ledger’s crypto-card is launched in collaboration with Baanx, a London-based fintech providing numerous financial services around cryptocurrencies.

The “Crypto Life” card will be available in France, Germany and the United Kingdom during the first quarter of 2022. For customers based in the United States, it will be necessary to wait until the second quarter.

This crypto-card will be closely linked to Ledger Live, an application developed by Ledger allowing to exchange crypto-assets, to make staking or to interact with decentralized finance (DeFi).

At launch, Ledger’s crypto-card will support several cryptocurrencies, namely: BTC, ETH, USDT, USDC, EURT, BXX, BCH and LTC.

The first 10,000 people to register on this waiting list will receive a crypto-card from Ledger for free. You can climb into the waiting-list by inviting others to register.

The cash-back is missing

Note however the absence of cash-back during payments, which is one of the strengths of many crypto-cards already on the market.

Other companies like Coinbase, Binance or Crypto.com pay the holders of their crypto-cards during each purchase, up to 8% of the cost of the transaction for those reaching the highest thirds.

Ledger will he really succeed in winning as one of the industry leaders if he does not offer such an option ?

It is not impossible that the company is considering adding such an option, but it is in any case not on the agenda at the launch of this new product.

👉 On the same theme – Ledger integrates an Ether (ETH) staking option in collaboration with Lido

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About the Author : Clement Wardzala

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.


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