Disclosure: This article does not constitute investment advice. The information presented here is for educational purposes only.
WhiteBIT Nova has achieved a significant milestone, surpassing 1 million transactions and highlighting the growing integration of crypto cards into everyday spending habits.
**Overview**
The increasing adoption of cryptocurrency for practical use has led to an estimated global market growth to USD 220.46 billion by 2033. By 2026, it is anticipated that nearly 20% of cryptocurrency owners will utilize their assets for transactions, a notable increase from 14.2% in 2024. With more than 560 million cryptocurrency holders worldwide by 2025, there is a promising demand for crypto payment solutions.
WhiteBIT, Europe’s leading cryptocurrency exchange based on traffic, has seen its new Visa-compatible card, WhiteBIT Nova, successfully facilitate over a million transactions, showcasing the expanding role of digital currencies in daily purchases.
**Crypto Cards vs. Traditional Payment Methods**
Despite the dominance of debit and credit cards in the financial landscape, crypto cards are gaining traction as viable alternatives. They provide distinctive advantages, such as increased privacy, global usability, and rewards based on cryptocurrency. The crypto credit card market, projected to grow from USD 1.3 billion in 2024 to USD 220.46 billion by 2033, is expected to expand at a compound annual growth rate (CAGR) of 8.6%.
One major appeal of crypto cards is their capacity to convert cryptocurrency to fiat currency conveniently at the point of sale, making it easier for consumers to make everyday purchases.
**Consumer Usage of the WhiteBIT Nova Crypto Card**
A recent survey conducted by Visa, in collaboration with Brewan Howard and Castle Island Ventures, identified currency conversion, purchasing goods, remittances, and salary transactions as the most common uses of cryptocurrency. Data from WhiteBIT reveals that users of the crypto card are exhibiting spending behaviors comparable to traditional card users, with transactions encompassing essential goods, entertainment, and luxury items.
Top cryptocurrencies utilized for spending include USDC, Bitcoin (BTC), Ethereum (ETH), and WhiteBIT Coin (WBT). Users of the WhiteBIT Nova card are also frequenting popular brands like Spotify, YouTube, Booking, KFC, Ryanair, Farfetch, and PlayStation for their purchases. High-end retailers including Cartier, Balenciaga, Gucci, Dior, and Louis Vuitton have processed over 5,000 transactions from these users.
Common expenditure categories include everyday items such as groceries, dining, and subscription services.
**Cashback Rewards: A Driving Force**
Cashback remains one of the most sought-after features among consumers for credit cards. For WhiteBIT Nova cardholders, cryptocurrency cashback is becoming a significant motivator for usage. The most rewarding cashback categories among users include:
– Essentials: Groceries (22.8%), dining and cafés (20.4%), subscriptions (14.1%)
– Leisure and entertainment: Taxi services (10.7%), entertainment (8.2%), gaming (7.3%)
– Travel and lifestyle: Automobile expenses (4.9%), airline tickets (4.2%)
– Wellness and everyday needs: Pet products (3.9%) and medicine (3.5%)
BTC and WBT remain the preferred currencies for cashback rewards, with a noticeable increase in usage of WBT.
**The Rise of Virtual Crypto Cards**
In line with the growing trend towards digital payments, 88.52% of WhiteBIT Nova card users opt for virtual cards, while only 11.48% prefer physical cards. This trend coincides with projections that the number of digital wallet users globally will rise by 53% to reach 5.2 billion by 2026, constituting over 60% of the world’s population.
**Closing Thoughts**
The emergence of crypto cards like the WhiteBIT Nova is paving the way for blockchain technology to influence traditional financial systems. With over a million transactions already processed, the WhiteBIT Nova card demonstrates that digital assets can smoothly integrate into everyday consumer transactions.
