Demand for Crypto Debit Cards Surges 194% in 12 Months
Data presented by Crypto Parrot indicates that global interest in the keyword ‘crypto debit card’ has surged by 194.1% over the last 12 months on the Google Search platform. The interest attained a peak popularity score of 100 in February 2021 while a year ago it was at 34.
Among countries, Nigeria leads with a peak popularity score of 100 followed by Australia at 45. The Netherlands ranks third with a score of 44 followed by Canada at 40 while the United States comes in fifth at 39.
Interest from the United Kingdom ranks sixth with a score of 36 followed by India at 15 while Germany is eighth with a score of 12.
Entry of payment companies into crypto fuels interest
Several factors have led to the strong interest in crypto debit cards mainly due to the increased adoption of digital assets. The report highlights other drivers for the interest. According to the research report:
“Furthermore, there has been an explosion of companies like Visa and Mastercard getting involved in crypto payment systems through debit cards. At the same time, more merchants are increasingly adding digital currencies to payment methods. It is, therefore, logical that people would be interested in acquiring crypto debit cards.”
Being a new financial phenomenon, crypto debit cards might face regulatory hurdles from non-crypto friendly jurisdictions.
In general, the crypto debit cards are helping holders get involved in the digital assets’ space while bridging the gap between the digital asset world and traditional finance space.
