Saturday , July 21 2018
Home / FT Alphaville / Crypto cards just suffered a major setback

Crypto cards just suffered a major setback

Summary:
All the crypto fortunes amassed over the last year are good for nothing if they can’t be spent or cashed out for currencies that can actually be spent in the real economy.As David Gerard, author of Attack of the 50-ft blockchain, has been documenting on his blog the last few months, that’s not an easy thing to accomplish in reality. The number of merchants accepting cryptocurrency directly (especially the more exotic flavours) is limited. Platforms specialising in exchange (such as Bitfinex, Coinbase etc) have the annoying habit of limiting withdrawals to small sums and/or suffering processing delays whenever prices move downwards. Also, OTC or local exchange markets are highly illiquid, expensive to navigate or simply untrustworthy and dangerous.This leaves few options for realising the

Topics:
Izabella Kaminska considers the following as important:

This could be interesting, too:

Alexandra Scaggs writes Thought for the weekend

Sujeet Indap writes Jonathan Knee explains 25 years of Wall Street’s evolution

Paul Murphy writes The Beaufort sting

Thomas Hale writes The green multiplier effect

All the crypto fortunes amassed over the last year are good for nothing if they can’t be spent...

Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

Leave a Reply

Your email address will not be published. Required fields are marked *