Development of a fully functional and universal crypto debit card development has been a requirement of the cryptocurrency circles for some time. Since most of the retailers and big box stores still don’t accept cryptocurrency as payment, the need for a debit card that can transact directly with fiat and crypto on the go is at its peak since cryptocurrency investors around the world have now reach historical levels.
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There is no direct way to make purchases from bitcoin and other cryptocurrencies except the cumbersome process of converting it into fiat and then withdrawing into your bank account.
So, with a potential solution now being rolled out, significant impact on the cryptocurrencies’ mainstream market penetration will be witnessed. NAGA’s new debit card is aiming to become that perfect crypto-fiat solution.
NAGA’s Financial Ecosystem
NAGA is a functioning fiat-based financial ecosystem that is now working to adopt cryptocurrency within its realm. NAGA’s founders realize that the card needs to be able to work worldwide, thus,they have enlisted the partnership of Mastercard payment services. With the help of the Mastercard’s vast network, debit card holders can make purchases all around the world and it accepts funding from a variety of fiat and cryptocurrency sources. The native NAGA coin is also one of the funding options and with this coin, users will be eligible for reduced transaction costs and times.
NAGA already has a stock exchange trading service called NAGA trader (formerly known as Swipestox) as part of its fiat platform. NAGA is attempting to integrate the exchange platform with the NAGA debit card and allow stock exchange traders to directly transfer their earnings to the debit card and then make purchases from anywhere around the world.
Switex, NAGA’s online gaming centre is also set to be integrated with the NAGA debit card. The platform allows earning of in-game profits and thus the NAGA holders will be able to cash out their profits from the gaming centre automatically, allowing them to buy anything they want rather than waiting for alternative systems to emerge that would likely take time and subject them to the inconveniences of the current model of crypto liquidation.
NAGA Debit Card Pre-Registration
NAGA is initially announcing just 10,000 debit cards as part of its initial release to test the market reception of their universal crypto debit card. The registration is live at the moment and more than 7200 cards have been claimed by the public and the way things are going, all of the cards will be claimed in a matter of days.
NAGA underwent a successful token generation in 2017 and it now aiming to build on its initial success with a test release of its flagship product. The native NGC token is also very important for the NAGA as it will streamline their inner workings and the token holders will eventually benefit from it.
For more information, visit the NAGA Coin Website.