NFC Cryptocard for Venezuelans

in crypto •  last year 

Cryptobuyer is a Panama-based exchange house that has been concerned with offering ingenious and innovative solutions in terms of cryptoactive use and adoption.

Since 2018, they have focused efforts in Venezuela with the implementation of their remittance remittance, ATM installation for the purchase/sale of BTC and the implementation of “Cryptobuyer Pay” for payment in stores based on cryptocurrencies.

Currently, they launched a new product for their Venezuelan users on October 14, the "CryptoCard", an NFC physical card that will allow purchases and transactions in cryptocurrencies in any of the businesses affiliated with Cryptobuyer.

The cryptocurrencies that can be used to recharge the physical card are Bitcoin, Litecoin, Dash, Binance Coin, Tether and the Silver token (XPT), a token native of Cryptobuyer. The cards will come in two modes, SILVER and BLACK.

The SILVER Card will have the basic functions to make payments, receive cryptocurrencies and use ATMs to sell cryptocurrencies and withdraw cash.

On the other hand, the BLACK card will offer other additional services. It will offer rewards to users such as Cash-back, Amazon Gift Card raffles, access to exclusive events of Cryptobuyer customers and reward for stakeholder with XPT.

With regard to costs, the SILVER card will be initially free while the BLACK card will cost $ 20.

Personal opinion

Lately I have seen a lot of news about companies and companies that have recently ceased operations in Venezuela due to the economic sanctions imposed by the US on the Venezuelan government. This panorama is totally discouraging for Venezuelans in general, and especially for those of us who have adopted crypto and blockchain as a philosophy of life, who cannot rule out events that limit our activity on the Internet or in our preferred Blockchain, such as STEEM. .

News like Cryptobuyer is motivating and hopeful. Since the fact that a company invests resources to offer us new technologies is a positive factor. Especially if these innovations correspond to technologies that favor the adoption of crypto.

An NFC card backed by crypto offers the opportunity to bring this technology to the most common aspects of life.

In Venezuela the devaluation deteriorates daily the purchasing power and the quality of life, for this reason the Venezuelans have found in the cryptography a way to avoid these effects. With the incorporation of this card, the increase in adoption levels would be encouraged and thus a new window of hope for citizens is opened.


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Wow. That's really cool. On the other hand, the sanctions not so much!


Thanks for comment.

to get a SAND upvote
please edit n mention sand and my desire to share @cryptopeso with latin america

I like to see new projects for the use of cryptocurrencies in my country. I comment that I had read this news and it caught my attention that they related it to the fact that the withdrawal of Venezuelan companies from Visa and Mastercard would leave a niche that would be profitable by this type of cryptocurrency cards.

I think it's a smart move by this company to offer these products. Especially with the situation that would arise if Visa and Mastercard cease operations in Venezuela.

I share the opinion, after all, having a captive market is a dream come true.

And when you are a pioneer in something, generally, in theory, you have the market for your exclusivity.

I hope that Venezuelans can get to enjoy this great crypto payment schemes. Cheers!

I just hope that the costs to get the physical card are not so high. Thus many Venezuelans will have access to this wonderful service.

I hope so too.

Hello @juanmolina friend, I really like this news, but I would like to know if you asked for your card.
to order one for my LOL

P.S. Friend again I tell you: The sanctions are for some criminals who occupy some positions in the government, the sanctions are not for the country,

I am fully aware of the field of applicability of sanctions. But despite this, we have seen how several companies have decided to cease operations in Venezuela.

but I would like to know if you asked for your card.
to order one for my LOL

It is a pilot plan, I understand that the first cards have not yet been delivered. But to qualify, you must first register and become a Cryptobuyer customer.

Interesting... do you know how the card works? I mean, NFC is not properly "secure", unless there are other "factors" on top of it.

These "tools" will be great stuff for countries where other tech is expensive and not that much acessible to general population.

This company has long had a payment system called "Cryptobuyer Pay" which already works in several stores in Venezuela. It is a mobile application with which merchants generate a QR code that they share with the customer at the time of payment.

They have also installed several ATMs that work in the same way based on QR code.

These NFC cards will join in merchants affiliated with Cryptobuyer Pay and in ATMs as well.

I don't know why the company decided to apply the NFC system to the cards, but if you see the images you can see that the physical cards also have a QR code.

Yes. I was trying to understand how the system works (technically). I think the private key must probably be in the NFC card... (and that's what is a bit dangerous)

But if it is encrypted with a code or passphrase, then it is less prone to be hacked.

Probably its the app that hold the priv key, and then generates the transaction (via NFC or QR code) which the 2nd party can sign/verify.

Anyway, nice to know the extra info.

You're right, I hadn't thought about that, dear friend @forykw.

In that case what would be the advantage of having the physical card? It would be the same as doing the transaction with the phone.

The NFC system is to prevent you from having to give your card to another person or pass it through a slot. With NFC you will always have the card in your hand.

But the security system is not clear to me. I imagine that you scan the QR code to access your card balance, but at some point you should enter a secret PIN or something like that.

yep, I guess it will be something like that. I have used something close to it in the past. Like on smartcash for example.

I have seen some BTC ATMs installed on the border between Colombia and Venezuela. These ATMs print a voucher with QR code. But we will have to wait for the official launch of these physical cards to corroborate their operation. Or maybe I could send an email to the company asking for these details.

@tipu curate

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Greetings @juanmolina, interesting these cryptobuyer cards, totally unaware of them and more that had operations in Venezuela.

I knew that in other countries this was already a reality, but not here, as you say that gives us some hope that despite the blockade we would not be so affected by these measures at least not until now, and hopefully continue in operation.

That they take us into account means something, that here we are moving a lot in terms of cryptomoney which could encourage companies to offer their services and thus achieve a regular market, so to speak.

Thank you for reading my comment, I'm not leaving without wishing you a happy day, evening or night.✌️

Upvote and resteem, very good information.

Thank you very much dearest friend Sir @shortsegments.