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WhiteBIT Nova has exceeded 1 million transactions, demonstrating that crypto cards are effectively linking digital currencies with everyday expenditures.
As users of crypto cards develop spending patterns akin to those of traditional card users, the worldwide market is expected to hit USD 220.46 billion by 2033.
By 2026, nearly 1 in 5 individuals owning cryptocurrency is anticipated to utilize their assets for payments, a rise from just 14.2% in 2024, signaling a transition towards tangible crypto usage. In 2025, over 560 million individuals globally will hold cryptocurrencies, indicating a significant market for crypto payment options.
The top European cryptocurrency exchange by traffic has reported surpassing 1 million transactions with its newly introduced Visa-enabled card for crypto payments, showcasing the growing significance of digital assets in day-to-day purchases.
Nikola Plecas, Senior Director of Visa Crypto in the EU, noted, “We recognize that crypto cards are becoming an increasingly vital component of the payments landscape, with more than 70 platforms already utilizing Visa. Consumer demand to explore new solutions that maximize the utility of their crypto and facilitate real-world spending continues to grow.”
Crypto Cards Compared to Traditional Payment Methods
While global debit and credit card transactions remain dominant in financial markets, crypto cards are emerging as formidable alternatives. These cards offer distinctive benefits such as improved privacy, transactions without borders, and cryptocurrency-based rewards. The worldwide crypto credit card sector, valued at USD 1.3 billion in 2024, is forecasted to soar to USD 220.46 billion by 2033, growing at a compound annual growth rate (CAGR) of 8.6% throughout this period.
The appeal of crypto cards is rooted in their ability to instantly convert crypto to fiat at the time of purchase, making digital currencies more functional for daily transactions.
Consumer Usage of the WhiteBIT Nova Crypto Card
A recent survey conducted by Visa, in collaboration with Brewan Howard and Castle Island Ventures, revealed that the primary non-trading applications included currency conversion, purchasing goods, remittances, and salary payments.
Data from WhiteBIT indicates that users of their crypto card exhibit spending behaviors similar to traditional cardholders, with purchases encompassing everyday necessities, entertainment, and luxury items.
- Leading cryptocurrencies for spending: USDC, Bitcoin (BTC), Ethereum (ETH), and WhiteBIT Coin (WBT) are at the forefront of transactions.
- Top brands for crypto transactions: Owners of the WhiteBIT Nova card utilize their crypto at popular brands such as Spotify, YouTube, Booking.com, KFC, Ryanair, Farfetch, and PlayStation. High-end retailers, including Cartier, Balenciaga, Gucci, Dior, and Louis Vuitton, have processed over 5,000 transactions.
- Leading spending categories: Everyday purchases dominate, with groceries, food & cafés, and subscription services leading crypto transactions.
Cashback Rewards: A Major Driver Behind Crypto Card Adoption
Cashback consistently ranks as the most sought-after credit card reward among consumers. Crypto cashback is also becoming a significant incentive for users of the WhiteBIT Nova card. The top categories for cashback rewards include:
- Essentials: Groceries (22.8%), food and cafés (20.4%), and subscription services (14.1%),
- Leisure and Entertainment: Taxi services (10.7%), entertainment (8.2%), and gaming (7.3%)
- Travel and Lifestyle: Automobile expenses (4.9%), airlines (4.2%)
- Wellness and Everyday Needs: Pet purchases (3.9%) and medicine (3.5%)
BTC and WBT remain the most popular selections for cashback rewards, with an increasing preference for WBT among users.
Digital-First: The Surge of Virtual Crypto Cards
Mirroring global patterns in digital payments, 88.52% of WhiteBIT Nova cardholders favor the virtual card, while only 11.48% choose the physical version. This trend is consistent with projections indicating that the number of global digital wallet users is set to rise by 53% since 2022, reaching 5.2 billion, or over 60% of the global population by 2026.
Closing the Gap between Crypto and Traditional FInance
The emergence of crypto cards like WhiteBIT Nova underscores how blockchain technology is penetrating traditional financial systems. With over a million transactions processed, the WhiteBIT Nova card demonstrates that digital assets are viable not only for trading but can also be seamlessly incorporated into everyday consumer expenditures.
Disclosure: This content is provided by a third party. No endorsement of products mentioned in this article is intended. Readers are encouraged to conduct their own research before taking any action regarding the companies referenced.