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Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange

Biraajmaan Tamuly



Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
Source: Pixabay

The wider adoption of cryptocurrency has taken another major step forward after it was recently announced that parts of Australia will start the process of accepting cryptocurrencies like Bitcoin, XRP, Ethereum, and Litecoin from customers to buy groceries in supermarkets and retail shops.

myCryptoWallet, one of Australia’s leading exchanges, has launched the myCryptoCard which enables consumers to spend cryptocurrency at one million locations and withdraw money at 30,000 ATMs.

The exchange is a digital currency service based in Melbourne, Australia and it provides a number of services to customers which includes fiat deposit, wallet withdrawal services, cryptocurrency debit cards, an online live peer-to-peer digital marketplace and a fast-paced exchange between Australia and New Zealand via digital assets.

The CEO of MyCryptoWallet, Jaryd Koenigsmann, stated after the announcement:

“MyCryptoCard will play a major role in bridging the gap between cryptocurrency and the mainstream. The cards means consumers have the flexibility to use crypto where, how and when they like, and do away with so many of the fees that come about when exchanging back and forth between crypto and fiat.”

MyCryptoCards will be linked to the user’s digital wallet on the exchange which will have the capacity to hold Bitcoin, Ethereum, Ripple, Litecoin and Power Ledger virtual currencies. The initial point of sale purchases in Australian dollars will be automatically converted with regards to the crypto prices at the moment of trade.

According to Koenigsmann, since MyCryptoCard is not just limited to Bitcoin, it will bring higher levels of spending flexibility and allow consumers to trade with their favored cryptocurrency. The card also plans to add 50 news coins to its platform in the near-term and introduce a dozen new digital currencies which will soon hit the mainstream wallet.

There will be no fees associated with spending or withdrawing from MyCryptoCard and the absence of these fees puts the common fees associated with the conversion of fiat to cryptocurrency to bed.

Finally, the CEO has also announced a giveaway of the first 3000 debit cards for free to celebrate the launch of MyCryptoCard.

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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.


Bitcoin [BTC] is still going to $100,000, claims Heisenberg Capital’s Max Keiser




'Bitcoin is still going to $100,000', says Max Keiser
Source: Unsplash

CNBC’s Crypto Trader Ran NeuNer, spoke to Max Keiser, Co-founder of Heisenberg Capital on the sidelines of the Magical Crypto Conference and discussed Bitcoin’s current trends.

Keiser said that he was bullish on Bitcoin in the long term, adding that he would be sticking by his “$100,000” prediction for Bitcoin. He stated,

“I never stopped make price prediction… I said it [Bitcoin] was going to a hundred thousand dollars and it was only a dollar and I said that all publicly… it is still going to a hundred thousand dollars”

He added that the timing of when Bitcoin would reach the mark was not important, but that it would outperform every other asset over the next 15 years. Additionally, he said that timing was only for people who were waiting to buy crypto at a better price and “that is a bad way to approach crypto.”

Keiser displayed his enthusiasm for crypto, commenting that, “Stack Satoshis… Stack SATs… you should be stacking SATs.” Giving his opinion on Bitcoin’s recent rally, Keiser said,

“I think that it goes back to when Federal Reserve issued a statement saying that they’re moving the policy to permanent quantitative easing… which means money printing without end. As you know Bitcoin is hard money, like gold, and it is going to respond well to hyperinflation and hyper-money printing.”

Further, Keiser claimed that Bitcoin bottomed when the Federal Reserve announced this a few weeks ago and that this was due to a couple of reasons. The first being Bitcoin’s upcoming halving which highlights the scarcity of Bitcoin. According to Keiser, the second reason was that the sellers were exhausted. All the above reasons, in totality, contributed to Bitcoin’s price rise, claimed Keiser.

Since Bitcoin has already proven itself as a store of value, Keiser remarked that it would be best to concentrate on Lightning Network, a layer-two scalability solution for Bitcoin and improve it as a medium of exchange.

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