Exchanges and Virtual cards

[O.collins]

The cryptocurrency industry has seen massive growth over the years reshaping almost if not all sectors of our everyday existence.

Who would have thought that this industry would grow to the extent that banks and multinational companies would start accepting cryptocurrencies as payment?

Now, exchanges like Binance and Bitget offer virtual cards for payment charging users from their wallet balance.

The latter exchange currently offers this virtual card by invitation only. Users can apply, and upon approval, they will receive a virtual card, which can be used worldwide for better fees.

What other innovation do you think is worth mentioning and what is your take on virtual cards from these exchanges?

[joniboini]

Is this another post trying to shill Bitget? Also, what do you mean by better fees? What's the comparison you're making here? Another virtual card provider or other form of payment? Virtual card isn't new at all.

I've used virtual cards multiple times in the past. My local bank account has this feature and they don't take any fee at all. Issuing new cards does require fees but it's cheap compared to ordering one from an overseas debit card provider. It doesn't support crypto but not a huge downside for me as long as I can use my trading profits there.

[_act_]

Issuing new cards does require fees but it's cheap compared to ordering one from an overseas debit card provider. It doesn't support crypto but not a huge downside for me as long as I can use my trading profits there.

According to what I saw on Bybit about virtual cards, getting the card would be for free. I do not know if that would be true because I have not gone for the virtual card before. Also I do not know how it is on other exchanges.

In my country, our cards like master card are useless when it comes to international transactions. If such exchanges virtual card can be used for it, it would be good.

[O.collins]

Is this another post trying to shill Bitget? Also, what do you mean by better fees? What's the comparison you're making here? Another virtual card provider or other form of payment? Virtual card isn't new at all.

I've used virtual cards multiple times in the past. My local bank account has this feature and they don't take any fee at all. Issuing new cards does require fees but it's cheap compared to ordering one from an overseas debit card provider. It doesn't support crypto but not a huge downside for me as long as I can use my trading profits there.

As you said, your local bank has the virtual card feature, but they only charge in fiat. However, cryptocurrency exchanges are making it possible to charge in cryptocurrencies, and this is what the post is actually about.
About the fees, just like your local bank which charges transaction fees, these exchanges also charge transaction fees. You can also see from the comment that other exchanges provides this feature which means more options to choose from.