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    Ledger partners with Baanx to offer crypto debit card

    By Kevin Donovan

    14:07, 9 December 2021

    Ledger Visa card
    Ledger Crypto Life card lets consumers spent cryptocurrency holdings without converting first – Photo: Ledger

    The Ledger Co. announced Thursday it is partnering with Baanx Group to offer a new Crypto Life debit card with the ability to spend, receive payment in and borrow against cryptocurrency holdings.

    The card will rollout initially in France, Germany and the UK in early 2022, followed by the US. The crypto payment and line of credit features will be available later next year, Ledger said in a news release.

    The Ledger Crypto Life card allows users to spend up to nine cryptocurrencies, including Bitcoin, Ether, USDT, USDC, EURT and XRP, among others. Deposits will be able to be split between various cryptocurrency holdings.

    Physical crypto wallets

    Ledger primarily sells physical cryptocurrency wallets providing full isolation between a user’s private keys offline. The Ledger Nano wallets are USB drive-sized devices that link to a cell phone or other device via Bluetooth.

    The Crypto Life card will be linked to Ledger’s Nano hardware cryptocurrency wallet and can be managed through a cell phone app. Lines of credit, backed by cryptocurrency holdings will offer zero-interest borrowing rates.

    BTC/USD

    67,954.65 Price
    +4.000% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 106.00

    DOGE/USD

    0.13 Price
    +8.320% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.0012872

    SOL/USD

    184.10 Price
    +7.200% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 2.2652

    ETH/USD

    3,267.71 Price
    +3.550% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 6.00

    Ledger has started a wait list for customers wishing to sign up for the cred when available in various geographic regions.

    Paris, France-based Ledger is a cryptocurrency and blockchain security hardware company, offering physical cryptocurrency wallets and security chips used in credit and debit cards.

    Baanx Group is a Lindon, UK-based digital asset fintech focused on businesses, offering compliance, infrastructure and licensing services. Baanx offers physical debit cards, payment gateways and mobile apps. 

    Read more: Partnership with MasterCard sends Bakkt shares 51% higher

    Related topics

    #Ethereum #Cryptocurrency #Bitcoin

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    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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