Users can use the Visa card to buy regular goods with cryptocurrency anywhere in the world and receive a 2% cashback in BTC.
Bitcoin exchange in Argentina Lemon Cash has launched a Visa card that offers a 2% cashback in BTC on every purchase. The international card can be used to purchase everyday consumer items at any merchant that accepts Visa. To make the payment, Lemon automatically converts the required amount of cryptocurrency from the user’s account into Argentinian pesos.
Bitcoin exchange based in Argentina Lemon Cash, in collaboration with Visa, has launched a bitcoin card that offers 2% cashback in BTC for each purchase. The card is the first of its kind in Argentina, combining pesos, the national fiat currency, with cryptocurrency, and allowing users to make regular purchases with their cryptocurrency holdings.
“Visa agreed with our plans to do things in Argentina, and we could make this an international card with both digital and physical use,” said Marcelo Cavazzoli, CEO of Lemon.
Lemon will deliver 100,000 cards to users on the waiting list on launch day, according to Cavazzoli, who added that his company’s mission is to “fill Argentina with bitcoin and make people enter this world that is the future.” Making the 2% cashback on each purchase payable in BTC is critical to achieving that goal, he says.
Cavazzoli stated, “We want people to save in bitcoin.” “By incorporating cryptocurrency into daily life, we have hacked traditional finance.” We will serve as a link between the traditional system and cryptocurrencies.”
Adults in Argentina can apply for and use the card after opening a Lemon Cash account. Purchasing everyday consumer goods will be possible thanks to an instant conversion of any cryptocurrency in the user’s account to pesos at the time of purchase. The user is then credited with the 2% cashback in bitcoin, which is automatically added to their Lemon Earn savings account.