Spending the common cryptocurrencies can be done in a plethora of ways. Things are very different when it comes to most altcoins, tokens, or assets. Monolith, one of the crypto debit card providers in the market, looks to step up its game.
Cryptocurrrency debit cards are nothing new under the sun. They allow users to spend cryptocurrency through traditional payment card rails. It is convenient, although primarily tailored toward spending Bitcoin.
Monolith Looks to Expand
Luckily for altcoin enthusiasts, there are alternative services on the market. Monolith is one of the companies looking to put the potential of Visa debit cards to full use.
From day one, the company envisions a debit card to spend Ethereum in a more common manner. That in itself is an interesting business model. Very few other card providers explore options beyond Bitcoin.
Ethereum’s ecosystem is a lot bigger than one may think. Thousands of tokens and assets are issued on this blockchain to this date.
Monolith acknowledges it is crucial to support as many of these tokens as possible. It is a risky venture, considering how these tokens are more prone to price manipulation.
Despite the potential drawbacks, at least one new token will become spendable through Monolith. Holders of its debit cards can vote on Twitter for the currencies on offer.
This poll shows the cryptocurrency ecosystem is still booming. Making these assets more accessible and spendable is a great step forward.
Whether any of these tokens can make an impact, is a different matter altogether.