Even for seasoned cryptocurrency investors, exchanging crypto assets for fiat currencies has long been a challenge. Thanks to Digits, this problem will become a thing of the past.
With Digits, anyone who owns cryptocurrency can automatically convert it to fiat currency and make purchases as a standard credit or debit card transaction. Here’s how Digits compares to traditional cryptocurrency conversion methods, and why Digits is so much easier.
The State of Cryptocurrency Exchange
To date, exchanging cryptocurrency for fiat currency — that is, traditional, government-backed money — has entailed a tedious and complicated process. It typically looks like this:
- Find a cryptocurrency exchange that will allow you to trade your cryptocurrency for bitcoin. This step is necessary because most of the exchanges that let you trade cryptocurrency for fiat currency support only a handful of cryptocurrencies. As a result, if you hold something other than bitcoin or Ether, you probably can’t exchange it directly for fiat currency; you have to trade it for bitcoin first.
- Set up an account on that exchange.
- Wait for your account to be approved. This could take weeks, depending on the exchange.
- Exchange your cryptocurrency for bitcoin.
- Find a new exchange that will let you trade bitcoin for fiat currency.
- Set up an account on the new exchange.
- Wait again for your new account to be approved.
- Exchange the bitcoin you bought in step 5 for fiat currency.
- Wonder why it takes so much time and effort to be able to make purchases using digital currency.
This process is even more complicated if you want to trade cryptocurrency for fiat money without exposing your real identity (Most conventional exchanges require you to register.) or if you want to buy fiat currency that is not U.S. dollars, Euros, or another widely used currency.
In short, the process for converting cryptocurrencies into fiat currencies has traditionally been long, hard, and not at all practical for people who want to make everyday purchases with the crypto assets that they own.
The Digits Exchange Solution
Digits offers a much simpler, faster cryptocurrency conversion solution.
With Digits, the process looks like this:
- Download the free Digits app.
- Register a credit or debit card that you already own to work with Digits.
- Use the credit or debit card to make purchases as you always have, with merchants that accept mainstream credit or debit cards. When you make the purchase, you can choose to pay using the cryptocurrency wallet that Digits links to your card.
With Digits, cryptocurrency conversion takes place effortlessly. You make purchases just as you always have; cryptocurrency conversion happens automatically in the background.
Other Digits Killer Features
Digits offers this streamlined process while providing several other core features:
- Privacy and security: Credit and debit card numbers are hashed so that Digits never accesses them directly.
- Digits users can link cards to multiple crypto wallets, making it easy to make purchases using any crypto assets in your portfolio.
- New credit and debit cards can be registered with Digits at any time.
Simply put, Digits turns your credit or debit cards into crypto cards. That’s one sweet solution for crypto enthusiasts.