Crypto Cards Fuel Blockchain Adoption as WhiteBIT Nova Surpasses 1 Million Transactions
In a significant milestone for the cryptocurrency sector, WhiteBIT Nova, a newly launched Visa-enabled card for crypto transactions, has achieved over 1 million transactions. This development underscores the increasing integration of digital assets into daily financial activities. The global market for crypto cards is anticipated to grow dramatically, reaching USD 220.46 billion by 2033. A notable trend indicates that by 2026, nearly 20% of cryptocurrency holders are expected to use their assets for payments, reflecting a growing acceptance of cryptocurrencies in day-to-day transactions. Current estimates show that more than 560 million individuals worldwide own cryptocurrencies, highlighting a substantial audience for crypto payment solutions.
Comparing Crypto Cards to Traditional Payment Methods
While conventional debit and credit cards remain dominant in the financial landscape, the emergence of crypto cards is creating a noteworthy competition. These cards offer unique benefits, such as enhanced privacy, the ability to make cross-border transactions, and integration with rewards systems based on cryptocurrencies. The crypto credit card market, valued at USD 1.3 billion in 2024, is poised for remarkable growth, projected to rise at a compound annual growth rate (CAGR) of 8.6% to reach USD 220.46 billion by 2033. The appeal of crypto cards lies in their ability to facilitate instant conversions of crypto assets to fiat currency at the point of sale, making them increasingly practical for everyday purchases.
Consumer Spending Patterns with the WhiteBIT Nova Crypto Card
Recent data from WhiteBIT reveals that users of its crypto card are displaying spending behaviors closely aligned with those of traditional cardholders. Their expenditures range from everyday necessities to entertainment and luxury items. Among the most frequently used cryptocurrencies for transactions are USDC, Bitcoin (BTC), Ethereum (ETH), and WhiteBIT Coin (WBT). Furthermore, WhiteBIT Nova cardholders are utilizing their digital assets to shop with prominent brands such as Spotify, YouTube, Booking, KFC, Ryanair, Farfetch, and PlayStation. Luxury brands like Cartier, Balenciaga, Gucci, Dior, and Louis Vuitton are also witnessing significant activity, with over 5,000 transactions processed. The leading categories for crypto spending include groceries, dining, and subscriptions.
Cashback Rewards Driving Adoption of Crypto Cards
Cashback incentives are increasingly popular among consumers, and this trend extends to users of the WhiteBIT Nova card. The most sought-after cashback benefits are found in categories such as groceries (22.8%), dining (20.4%), and subscriptions (14.1%). Other notable categories include taxi services (10.7%), entertainment (8.2%), gaming (7.3%), travel expenses (4.9%), and airline costs (4.2%). Additionally, purchases related to wellness and everyday needs, such as pet products (3.9%) and medicine (3.5%), are also included. BTC and WBT remain the primary options for cashback rewards, with users showing a growing preference for WBT.
The Surge of Virtual Crypto Cards
Reflecting a global shift toward digital payments, a significant majority—88.52%—of WhiteBIT Nova card users prefer virtual cards over their physical counterparts, which account for only 11.48%. This preference aligns with broader trends indicating that the number of global digital wallet users is projected to increase by 53% since 2022, reaching 5.2 billion individuals, or over 60% of the world’s population, by 2026.
Connecting Crypto and Traditional Finance
The increasing prevalence of crypto cards like WhiteBIT Nova illustrates the growing intersection of blockchain technology with the traditional financial system. With the processing of over a million transactions, the WhiteBIT Nova card demonstrates that digital assets are not solely for trading but can be effectively utilized in everyday consumer spending.
About WhiteBIT
WhiteBIT stands as the largest cryptocurrency exchange in Europe based on traffic, offering a diverse array of over 730 trading pairs and more than 330 assets, alongside support for 9 fiat currencies. Established in 2018, WhiteBIT is part of the WhiteBIT Group, which serves over 35 million customers worldwide. The platform has formed partnerships with notable organizations, including Visa, FACEIT, FC Barcelona, Trabzonspor, the Ukrainian national football team, and Lifecell, all while striving to promote the widespread adoption of blockchain technology across the globe.
