Last updated on August 5th, 2023 at 09:41 pm
Users of CoinJar can now make purchases with crypto MasterCard across Australia, the longest cryptocurrency exchange in the country said in an official message on Tuesday, August 3, 2021
To make it easier for its users to order the card, the firm has also embedded a button within its crypto app which users can simply click. The launch comes a few days two officials of the International Monetary Fund (IMF) posited that it’s too late for some countries to consider cryptocurrencies as legal tender, find their reasons at: https://infomediang.com/why-cryptocurrencies-cannot-be-a-legal-tender-imf
With the launch, users can buy, sell and spend up to 30 different cryptocurrencies supported by CoinJar directly from its platform using Australian Dollars.
“All transactions are denominated in Australian dollars (AUD) and are routed through Australian banks and payment providers,” Chief Marketing Officer Dominic Gluchowski at CoinJar in an email to InfomediaNG said.
The marketing officer also stated that the crypto card is to simplify everyday purchases.
The CoinJar Card is the Australian first crypto under the Mastercard brand, and it’s available either physically or digitally through both Google and Apple Pay integration.
The latest launch by the crypto exchange comes at a time another global payment giant Visa launched local Australian startup CryptoSpend to issue a similar product in July.
“We know CryptoSpend is attempting to bring the first Australian-native Visa to market in September, so there’s a growing appetite for a local option,” Gluchowski said.
Features of the card:
- Allows you to spend crypto like cash in online and in-store
- Free to set up
- It has no monthly fees
- Free to activate
- Users will earn CoinJar Rewards every time they spend
- 1% conversion rate which is returned to customers via an in-house rewards programme
- There is no need to pre-load to make a transaction
- Any supported crypto you choose will automatically convert to AUD anytime you want to spend.
How To Get CoinJar Crypto Mastercard
- Download CoinJar app from the apps store (if you haven’t done so) or update to the latest version if you have an old one.
- Login to your account
- Look for “activate your card” at the button the dashboard
- Click on it and your card will be ready in a few seconds
Coinjar is an Australian-based crypto exchange company founded in 2013 by Asher Tan and Ryan Zhou. The exchange allows its users to trade, store, spend and receive bitcoin and other supported coins.