Customer fears of cryptocurrency card services

Lack of global regulation

The legislation of different jurisdictions doesn’t keep pace with the rapid industrial development. While users expect a service facilitating and simplifying cross-border payments, mismatched laws of different jurisdictions do thicken the roux.

Specificity of KYC/AML passing procedures

The cards using implies a voluntary refusal of complete anonymity during KYC/AML passing procedures. Depending on the existed partnerships, such a procedure may include some additional stages and data which should be added by users who expect to keep their complete anonymity and control over their digital assets.

Tax difficulties

In most cases, the unclear legal status complicates tax calculation for cryptocurrency investors. Many of them are afraid that the cost of already complicated cryptocurrency card taxation will rise, preventing the reveal of the full-service potential and hamper its daily usage in different countries and territories in a wide variety of situations.

Everyday use obstacles

Daily crypto operations still require certain keen & skills, and there is no single application to make it. Particularly, different coins are stored on various types of wallets with dissimilar interfaces and operation rules.

Security issues

Although card services can be considered sufficiently secure, there is the hacking risk still. Occasionally there are scandals in media connected with the theft of cardholders’ data due to which they lose large amounts of money.

How we eliminate customer fears

Weld is a convenient service that minimizes customer problems and eliminates their fears. We focus on jurisdictions actively discussing cryptocurrency legislation and will soon offer their citizens fully legal crypto regulation.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Weld Money

Weld Money

370 Followers

Meet WELD crypto card, the only seamless Payment solution for day-to-day expenses. https://weld.money/