In a recent development in the cryptocurrency space, Avalanche (Avalanche Chain) has launched its own physical debit card, the Avalanche Card, which has been getting a lot of attention since its launch due to its unique advantages. Today, let's talk about this amazing card.
I. What is the Avalanche Card?
Avalanche Card is a VISA USD credit card launched based on the avalanche chain ecosystem, which is the result of the cooperation between Avalanche Chain and fintech company Rain Liquidity, allowing users to spend where traditional credit cards are used, connecting decentralized finance (DeFi) with real-world payment scenarios, and unlocking a new way of using cryptocurrency for cryptocurrency holders. Users are able to spend directly with digital currencies, which are automatically liquidated at the asset value at the time of consumption, realizing the convenient application of crypto assets in daily life.
II. Modalities and conditions of application
The application requirements for this card are quite friendly, no overseas status is required and a Chinese ID is sufficient for application. Specifically, you need to prepare the following three things:
1. Chinese ID card: Prepare the front and back photos of your ID card for real-name authentication.
2. Overseas cell phone numbers: such as Hong Kong numbers, mainland numbers may not be able to receive the verification code. If you don't have an overseas cell phone number, there are ways to solve the problem, such as buying a telecom blue card, or using Google Voice to get it for free (but it requires certain technical operations).
3. Web Tools: Required to be enabled for registration and card binding to resolve web access issues.
The application process is also very simple, as an example, applying on your cell phone:
1. Download the official app: Search for "Avalanche Card" in the app store and find the official app to download and install.
2. Register and Login: Open the App, use your overseas cell phone number to register for an account, and complete the SMS verification code verification as prompted.
3. Fill in the information: Fill in personal information, including name, ID number, etc., and fill in the domestic address, using pinyin. Special attention, there is a page need to fill in the SSN or ID, here you can try to use the ID number or passport number.
4. Authentication: Upload your ID photo and complete face recognition to ensure accurate information.
5. Receive the card: after the identity authentication, you can get the virtual card and the physical card for free, and the physical card is free direct mailed by DHL, and you can usually receive it in about 7 days (the domestic address can be reached by the pro-test).
III. Supported digital currencies and amount calculation
Currently Avalanche Card supports USDT/USDC, AVAX and WAVAX, the spending limit is calculated according to the digital currencies held in the account, of which USDT/USDC is counted as 100% spending limit, AVAX and WAVAX are only counted as 50% spending limit. For example, if you have 1,000 USDT in your account, the spending limit will be $1,000; if you have 1,000 AVAX, the spending limit will be calculated according to $500.
IV. Advantages of use
1. Ultra-low loss: only 1% exchange rate fee when consuming, compared with some other similar payment methods, the cost is greatly reduced.
2. Convenient binding: Apple Pay can be bound in seconds, whether it is offline consumption or Amoy website shopping, as long as the place that supports NFC or Apple Pay, you can easily pay. The test can also bind the U.S. Apple ID, directly buy ChatGPT Plus membership, no longer need to find a substitute charger.
3. Free of charge: There is no management fee, the ordering and delivery of physical cards are also free of charge, and the virtual cards are closed as they are used, so there is no burden on the users.
V. Examples of usage scenarios
1. Online shopping: Buy apps or memberships in the App Store Kryptonite in the U.S., such as purchasing a ChatGPT Plus membership; shop on nautical websites that support Apple Pay and choose Apple Pay to pay, which is automatically converted to USDT deduction, convenient and fast.
2. Offline consumption: In overseas machines that support NFC payment, after binding your phone to Apple Pay, you can complete the payment with a single drop, which is as convenient as using a regular bank card.
Avalanche Card provides digital currency enthusiasts with a more convenient way to apply in reality, so that digital currency is no longer limited to virtual transactions. If you are also interested in digital currency payments, you may want to try to apply for one and experience a new payment feeling. However, in the process of using it, you should also pay attention to the fluctuation of the digital currency market and the related risks.
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