How the initiation of bitpay helped cryptocurrency and debit card system to grow has been explained in previous post yesterday. The launch of the BitPay Card had several transformative effects within the cryptocurrency system. Let's discuss these effects in points.

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Enhanced Usability:

The BitPay Card expanded the use cases for Bitcoin beyond speculative investments and online transactions. Daily life uses and real time uses for purchasing groups was possible after that initiation. The total using area of Bitcoin has been increased dramatically after that debit card initiation.

Merchant Adoption:

The BitPay Card's integration with existing debit card networks meant that Bitcoin could be used at any merchant that accepted debit cards. Not only ATM system but different marchants are the centres were the cards could be used.

Financial Inclusion:

The BitPay Card catered to individuals who lacked access to traditional banking services. Most of those users had their cryptocurrency holdings but they had no access to the financial system. It provided them with a means to participate in the global financial system.

Reduced Volatility Impact:

The main advantages of this card is reducing the volatility of the market. The ability to convert Bitcoin into fiat currency at the time of purchase mitigated the impact of Bitcoin's price volatility on everyday transactions. Users could spend Bitcoin without worrying about price fluctuations.

Education and Awareness:

The BitPay Card played a role in raising awareness about Bitcoin and cryptocurrencies. It introduced a broader audience to the concept of digital currencies.

Conversion Fees:

Converting Bitcoin to fiat currency through the BitPay Card incurred transaction and conversion fees. While this was a common practice in traditional finance. For many of the cases the users find it as extra fee compared with other conversion technique using cryptocurrency and decentralized system.