American Express Joins The Crypto Market

The evolution of the cryptocurrency market leaves many surprised since, over time, the financial and transnational companies betting on Bitcoin demand increased significantly.

The large Visa and MasterCard credit cards joined the cryptographic project, where they adapted their platforms so that users could carry out transactions with digital currencies using their financial products.

This time the opportunity was given to American Express, which, in an alliance with the Abracompany, created a credit card where they offer their cardholders the benefit of obtaining rewards in cryptocurrencies.

Cryptocurrencies Continue To Gain Ground.

The main characteristic of digital currencies is their decentralized capacity to execute operations digitally, which undoubtedly attracts more than one since they can carry out operations without the intervention of third parties.

This feature is the one that generates the most significant discomfort in governments and financial institutions; why? Because cryptographic operations cannot be traced if wallets are used and, on the other hand, no transaction fees are generated.

There is no doubt that everyone benefits from outsourcing, but for all those who want to invest in cryptocurrencies and the lack of support causes them to doubt insecurity, this type of proposal is generated where companies offer that support to digital currencies through their financial instruments such as credit cards.

For users who want to store cryptocurrencies as a short or long-term investment method in a supervised and controlled manner by banks, this is the perfect option.

Through crypto cards, a backup can be maintained for many. However, it is monitored by banking entities and undoubtedly offers a certain level of security and trust.

The increase in users of cryptocurrencies has created uncertainty in financial entities, which is why these types of products are beginning to be made with incentives in cryptocurrencies so that people can, in a traditional way, be part of the cryptographic market.

Credit card companies, in their constant evolution and adaptation to the market’s needs, began to create these services that undoubtedly attract everyone’s attention, such as the services offered by the Bitcoin-Prime trading system.

The main attraction is the incentives created by these companies so that not only the users they already own can join, but also new investors, among whom the young world population stands out.

If this strategy is thoroughly evaluated, it is intended that users of cryptocurrencies leave virtual wallets aside and move to credit cards where their bitcoin can be stored in bank accounts.

All the benefits of cryptocurrencies remain intact; the banking entities will supervise only the transactions made with these digital financial instruments.

These proposals change the idea that financial entities and cryptocurrencies cannot get along, much less merge.

The American Express Value Proposition

The creation of a credit card that encourages its users to use cryptocurrencies, even where each purchase made with these traditional banking instruments will generate rewards in digital currencies.

The CEO announced Abra, Bill Barhydt, a company that will undoubtedly offer a very tempting proposal for many in cooperation with American Express.

It has not been revealed what type of cryptocurrencies will be the ones that can be used. Still, it is expected that this new product of both world-renowned financial companies will have been officially launched by the end of this year.

Consumption of goods and services, regardless of the amount made through this credit card, will generate bonuses that will be converted into cryptocurrencies; what was highlighted in the press conference is that all consumption will be in Fiat currency.

The acquisition of credit limits through cryptocurrencies is quite attractive since it diversifies the transactions that can be executed through digital currencies.

The market they intend to cover is all those crypto investors and the people. They are attracted to this market but have not yet finished leaping investments with cryptocurrencies.

Many American Express users have been waiting for this advertisement for quite some time since the other companies had done it.

Conclusion

Many projects are yet to come for digital currencies, which is why an emerging financial market with so many growth possibilities is interesting; not only does it represent possibilities but not economic freedom.

The more options arise, the more cryptocurrencies take hold; even in times of storm, digital currencies continue to appear ahead.