Last year, I wrote an article titled: “6 Fun Ways to Spend Your Bitcoin.”
These businesses include coffee shops, sports teams and travel websites.
Since then, additional companies have warmed up to bitcoin and other cryptos.
One example is movie theater chain AMC.
In November, it started accepting cryptos as payment for movie tickets.
AMC’s move is helping crypto go mainstream.
But most companies still don’t take cryptocurrencies as payment.
Fortunately, there’s a brand-new way to spend your crypto holdings.
And it’s run by one of the world’s biggest payment companies…
A New Way to Pay
On Wednesday, April 13, Mastercard launched the world’s first crypto-backed payment card.
The card is a collaboration with Nexo, a crypto lending firm.
Shoppers can use the Nexo Card if they hold crypto in a Nexo account.
It allows purchases of up to 90% of their crypto account’s value.
Nexo then uses the crypto holdings as collateral to make sure it gets paid back.
It’s essentially a credit card with a 0% interest rate and no minimum payments or fees.
And best of all, the Nexo Card works anywhere that takes Mastercard.
That means it’s accepted at 92 million merchants worldwide.
Plus, users get 2% crypto rewards back on every purchase.
Those rewards are paid out as either bitcoin or Nexo tokens.
A Practical Choice for Shopping
Another benefit of the Nexo Card is that it works almost instantly.
That’s because Mastercard can process 5,000 transactions a second.
In comparison, the bitcoin network can only handle five transactions a second.
So the Nexo Card is 1,000 times faster than bitcoin.
3 Payment Options: Mastercard, Visa and Bitcoin
(Source: TechBullion.)
That makes the Nexo Card a practical choice for shopping.
After all, if you’re buying a cup of coffee, you want the process to be quick.
No one wants to stand there waiting for their bitcoin payment to go through.
Cryptos Are Disrupting the Entire Financial Industry
Right now, the Nexo Card is only available in Europe.
But it will eventually launch worldwide.
Nexo co-founder Antoni Trenchev says the card will offer “unprecedented everyday utility” for cryptos.
And it’s just one example of how cryptos are disrupting the $100 trillion global finance industry.
In fact, there’s one crypto — Ian King calls it the “Next Gen Coin” — that will soon become faster and cheaper than any credit card.
Right now, only 1% of the world knows this coin exists … but that will soon change.
Ian just released a special presentation sharing his latest research on this incredible crypto.
You can watch it now by clicking here.
Regards,
Assistant Managing Editor, Banyan Hill Publishing
Morning Movers
From open till noon Eastern time.
HighPeak Energy Inc. (Nasdaq: HPK) engages in the acquisition, exploration, development and production of oil and natural gas. The stock rose initially when CNBC host Jim Cramer dedicated a segment to the stock, and it is continuing that trend with a 14% rise today after declaring dividends.
CoreCivic Inc. (NYSE: CXW) owns and operates correctional and detention facilities in the U.S. The stock is up 13% after analysts at Wedbush upgraded the stock from a neutral to an outperform rating and set a price target of $17.
Valneva SE (Nasdaq: VALN) develops and commercializes prophylactic vaccines for infectious diseases. The stock rose 12% after the UK Healthcare products Regulatory Agency granted the company’s COVID-19 vaccine candidate a Conditional Marketing Authorization.
Golden Ocean Group Ltd. (Nasdaq: GOGL) is a shipping company that owns and operates a fleet of dry bulk vessels. It is one of the many shipping stocks that is up 9% as shipping costs increase due to the Ukraine-Russia war.
Genco Shipping & Trading Ltd. (NYSE: GNK) engages in the ocean transportation of dry bulk cargoes worldwide. It is another shipping and freight stock that is up 8% due to global shipping conditions sparked by the Ukraine-Russia war.
Aviat Networks Inc. (Nasdaq: AVNW) provides wireless transport products and services to mobile service providers, government agencies and enterprises. The stock is up 7% after the company made a $16.2 million bid for Redline Communications.
Sol-Gel Technologies Ltd. (Nasdaq: SLGL) develops topical dermatological drug products based on its proprietary microencapsulation delivery system. It is up 6% after announcing the commercial availability of Twyneo, its topical cream to treat moderate to severe facial acne.
Mersana Therapeutics Inc. (Nasdaq: MRSN) develops antibody drug conjugates for cancer patients. It is up 6% on the news that the company’s director acquired $2.5 million worth of additional stock in the company.
Cumulus Media Inc. (Nasdaq: CMLS) owns and operates radio stations in the US. It is up 6% after it received a buy recommendation from StockNews.com following the appointment of its new vice president.
Baytex Energy Corp. (OTC: BTEGF) acquires, develops and produces oil and natural gas in Canada and the U.S. The stock is up 6% after analysts at National Bank upgraded the stock from a neutral to a buy rating and raised the price target on it.