Millions

Wrapped AVAX

USDC

Avalanche

The&nbsp;Avalanche Foundation&nbsp;<a style="text-decoration:none" href="https://www.avax.network/blog/avalanche-card-launches-broadening-everyday-crypto-use">launched</a> the&nbsp;Avalanche Card, a Visa-powered payment card that allows users to spend crypto at traditional fiat-only merchants. This move aims to bridge the gap between&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/decentralized-finance-defi-comprehensive-guide">decentralized finance (DeFi)</a> and everyday transactions, making it easier for crypto holders to use their assets in real-world scenarios.
Here’s everything you need to know about the Avalanche Card, its features, and its potential impact.
<h2 dir="ltr" id="span-span-what-is-the-avalanche-card-span-span">What is the Avalanche Card?</h2>
The&nbsp;Avalanche Card is a&nbsp;crypto-powered payment card created in partnership with&nbsp;Rain, a liquidity provider. It allows users to&nbsp;spend their digital assets anywhere&nbsp;Visa is accepted, making crypto payments as easy as swiping a credit card.
<ul>
 <li>Available as both a&nbsp;physical and digital card.</li>
 <li>Supports&nbsp;AVAX, Wrapped AVAX (wAVAX), USDT, and USDC at launch. Future updates will introduce support for additional cryptocurrencies, including&nbsp;bridged Bitcoin and other tokens.</li>
 <li>Crypto funds are converted to fiat when transactions are processed.</li>
</ul>
This card brings&nbsp;real-world utility to cryptocurrencies, allowing holders to pay for groceries, transportation, online shopping, and bills just like they would with traditional payment methods.
<h4>Other Key Features:</h4>
<ul>
 <li>No need for a&nbsp;crypto exchange or DeFi platform</li>
 <li>Offers&nbsp;spending alerts, PIN changes, and freeze options</li>
 <li>Provides&nbsp;daily batch settlements instead of instant conversions</li>
 <li>Requires&nbsp;identity verification for issuance</li>
</ul>
<h3 dir="ltr" id="span-span-strong-why-the-avalanche-card-matters-strong-span-span">Why the Avalanche Card Matters</h3>
Millions of people, especially in&nbsp;Latin America, Africa, and Southeast Asia, struggle with&nbsp;high banking fees, inflation, and limited access to financial services. The Avalanche Card provides an&nbsp;alternative financial solution, enabling users to bypass&nbsp;traditional banking restrictions and use their&nbsp;crypto holdings for everyday transactions.
According to Avalanche team, here are the key benefits:
<ul>
 <li>Empowers financial freedom in underbanked regions.</li>
 <li>Reduces reliance on banks for cross-border payments and daily expenses.</li>
 <li>Seamlessly integrates crypto into mainstream finance.</li>
</ul>
However, due to&nbsp;regulatory restrictions, residents of the following regions&nbsp;are not eligible:
<ul>
 <li>Cuba, Venezuela, Nicaragua</li>
 <li>Russia, North Korea, Syria, Iran</li>
 <li>Crimea, Luhansk, and Donetsk</li>
</ul>
Initially, the Avalanche Card is available in&nbsp;Latin America, the Caribbean, and 35 U.S. states, with&nbsp;15 states excluded due to regulations.
<h3 dir="ltr" id="span-span-strong-how-the-avalanche-card-works-strong-span-span">How the Avalanche Card Works</h3>
Unlike typical&nbsp;prepaid crypto debit cards, the&nbsp;Avalanche Card operates more like a credit card:
<ul>
 <li>Users&nbsp;load the card with crypto, which sets their&nbsp;spending limit at&nbsp;50% of the USD value of their balance (to account for volatility).</li>
 <li>The&nbsp;crypto isn’t instantly sold at the time of purchase. Instead, transactions accumulate and are settled&nbsp;once a day at a fixed time.</li>
 <li>The card allows users to&nbsp;freeze their balance, dispute charges, change PINs, and set up spending alerts.</li>
</ul>
This&nbsp;delayed conversion model helps users&nbsp;maximize the value of their assets, ensuring they don’t sell their holdings at an inopportune moment due to market fluctuations.
<h3 dir="ltr" id="span-span-strong-tax-implications-strong-span-span">Tax Implications</h3>
Using the&nbsp;Avalanche Card may trigger&nbsp;tax obligations depending on the asset being spent. Here’s what users need to know:
<ul>
 <li>Spending USDC stablecoins does NOT create a taxable event.</li>
 <li>Selling other cryptocurrencies to fund purchases MAY be taxable.</li>
 <li>Users are advised to consult tax professionals to determine their obligations.</li>
</ul>

Avalanche Visa Card: Everything You Need to Know

Daftar Isi

BSCN

Artikel lain yang dipublikasikan pada 6 Mar 2025

Ripple’s Bold Move: How XRP is Disrupting Cross-Border Payments in Portugal and Brazil

This $7 Billion In XRP Linked to Ripple Chairman Chris Larsen Sparks Discussion

NEOPIN Annual Update: 2024

RENDER and NEAR Approaches Falling Wedge Resistance – Could Breakout Spark a Rally?

Bitcoin (BTC) Share from White House Advisor David Sacks Before the Critical Summit!

BlackRock's Bitcoin Holdings Grow as Market Bounces Back

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!