Kraken, the popular crypto exchange, has launched the Krak Card for its users in the EU and the UK. This is a debit card that enables users to spend over 400 fiat and cryptocurrencies with instant conversions at checkout with no conversion fees.
The best part? Purchases made with the card earn 1% cash back, either in fiat currency or Bitcoin, with no limits or monthly caps.
Visit Kraken and sign up for the Krak Card to upgrade your personal banking experience.
Traditional Banks are Falling Behind
With the creation of crypto and its mainstream adoption, traditional banks haven’t changed much; international transfers still take several days and can rack up huge fees, while bank cards usually can’t use more than one currency. As far as rewards go, traditional cashback cards often have limits or monthly caps that hinder potential rewards for their users.
Kraken, with its Krak Card, is showing how modern banking should look: instant transfers in cash or stablecoins to other Krak users, regardless of their country of residence; over 400 fiat and cryptocurrencies can be spent with the card with conversions taking place on checkout; and its 1% cashback rewards has no limits, meaning you can spend as much as you want with your card and keep getting that sweet 1% back.
Instant Cash Transfers
One of the best features Krak users get is instant, fee-free transfers to other Krak accounts. Users can transfer cash or stablecoins, which can be an excellent way to pay freelancers, send money to friends and family, or make cross-border payments.
Kraken has already teased that salary deposits to Krak accounts could be coming sooner than everyone expects, making this a true modern-day banking solution.
Mastercard Benefits
Kraken’s Krak Card is a Mastercard World Elite card, meaning it natively comes with benefits like:
- World Elite Concierge: Complimentary 24/7 concierge agent for travel booking, event access, or other lifestyle needs.
- Mastercard Zero Liability: This benefit protects your account against unauthorized transactions, whether in physical stores, online, or in-app.
- Mastercard ID Theft Protection: Mastercard monitors your account for fraud, sending alerts when suspicious activity is detected.
Additionally, the Krak Card comes with instant card lock in case your card is stolen. You can also manage your PIN, block assets from spending, and add your card to your Apple Pay, enabling you to pay quickly and securely.
Earn 1% Cashback Everywhere with the Krak Mastercard
Even though the Krak Card is currently available for EU and UK users, it’s a Mastercard, meaning it’s accepted globally. Users can easily spend over 400 fiat or crypto assets in their home countries or abroad, whether in-store or online.
One of the valuable benefits of using the card abroad is that it doesn’t charge transaction or ATM withdrawal fees, making it a cost-effective solution for frequent travelers.
For every purchase, you earn a flat 1% back, which can be paid in EUR, GBP, or BTC. Booking travel through Krak Concierge comes with a boosted cashback rate of up to 4%, with more merchants and perks planned for rollout.
Krak Vaults with Yield Opportunities
In addition to cashback rewards, Kraken has introduced the Krak Vaults. These vaults enable users to choose from three flexible and risk-adjusted vaults that can earn:
- Balanced Yield with up to 5.5% APY
- Boosted Yield with up to 9.5% APY
- Advanced Strategies with up to 10%+ APY.
Being flexible means there are no lock-up periods; you can use your funds whenever you want. This feature will be launched soon, but note that it may not be available in all jurisdictions.
Is Krak the Right Fit for You?
With no conversion fees, no ATM withdrawal fees worldwide, and up to 4% cash back on travel purchases made via Krak Concierge, the Krak Card could be an excellent addition to any traveler’s wallet.
Shoppers who want to invest 1% of their purchases into Bitcoin and hold it for years will also find this card a solid choice.
Above all, users seeking a modern banking solution that enables instant cash transfers and enhances their banking experience are likely to appreciate the Krak Card.
How to Set Up Your Krak Card
Kraken users in the EU and the UK are currently eligible for the Krak Card. If you live in these regions, here’s how to get your card in four steps:
- Visit Kraken’s website and open an account.
- Verify your ID and deposit funds.
- Apply for the Krak Card.
- Load crypto or fiat currency and start using it.
Why is Krak More Relevant Than Ever
With cryptocurrency going mainstream, obtaining a card that allows you to spend these assets directly, with no conversion fees, is a significant step up in the banking space. Thanks to its fee-free transfers, Krak users can send cash and stablecoins instantly to other Krak users, without having to wait days for the funds to clear.
It’s no longer a question of whether new-age banking will take over; it’s already happening, and Kraken is at the forefront. Grab your Krak Card and make Kraken your everything account.
Visit Kraken
The post Meet the New Krak Card with 1% Cashback and Instant Borderless Transfers appeared first on Cryptonews.
