Centra Bringing Cryptocurrencies into the Real World. There is no need to mention how popular cryptocurrencies and especially Bitcoin have been in the last four or five months. Despite many ups and downs, the market is getting bigger as more and more investors are getting involved with the cryptocurrency market. For those who are not aware, when Bitcoin is mentioned, we do not think about any physical coin but rather digital lines of codes that are being used as a method of payment in many different countries around the world.
Bitcoin to the People
Sam Sharma is one of the investors who started to trade cryptocurrencies more than three years ago. In that time, he gained a huge experience about cryptocurrencies and he said that from the first day of his business with cryptocurrencies, he was thinking about how to bring them closer to ordinary people. More importantly, he thought how to make the use of cryptocurrencies available and accessible to ordinary people.
In an effort to find a solution for that problem, Sam Sharma founded a company called Centra. Their product is called Centra debit card that would work similarly to the standard debit cards from banks. Centra debit card will be connected to crypto wallets and it will provide the owners of those debit cards with the opportunity to use cryptocurrencies as a method of payment in places where this method has been recognized as viable.
For some, this might seem like a surprising idea and they may wonder why nobody thought of it earlier. In that case, it needs to be reminded that cryptocurrencies are not regulated or sanctioned by any country in the world. This does not make them illegal, but many banks all over the world are not sure how to deal with this issue and because of that, the fact that there was no crypto debit card available for users is not that surprising.
Removing the Middleman
Unlike cryptocurrencies, standard payment methods must involve the role of a middleman which is usually played by banks and they actually make sure that a transaction between a buyer and a merchant goes through. Cryptocurrencies are excluding the role of middlemen and the process of payment is conducted directly between a customer and the merchant.
Centra first arrived at the market in the United States and many have claimed that was a mistake considering big banking names operating in the country. However, considering that there are 38 percent of people without a bank account at this moment, the potential of development for Centra debit card is huge as many of those people are not using established currencies but rather cryptocurrencies. Because of that, the option of having the crypto debit card is something that will play well with those people who will be able to pay for various products and services using that debit card.
This is just yet another step towards bringing cryptocurrencies into the mainstream world and providing an opportunity to many people no matter from what part of the world they are coming from to use cryptocurrencies as they are the future.
Written by Ivan Potocki
I am a Canadian resident living in Alberta Canada. I am interested in becoming active in cryptocurrencies and starting fresh “out-of-the-box.” Is it a good idea to open a Centra Debit Card account, or should I wait until I have a crypto wallet?
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