A ColossusXT Debit Card Solution
After a long stint of technical upgrades and testing, ColossusXT (COLX) is now integrated with PolisPay, a cryptocurrency debit card solution created by the intelligent minds at the POLIS project.
Cryptocurrency as a whole has seen immense growth in popularity over the last few years, but liquidity has always been one of the largest issues hindering its acceptance across the world. In an effort to push wider adoption we welcome this newest trend in cryptocurrency implementation.
With a PolisPay debit card, you can now walk into a store, cafe or restaurant and pay with your COLX coins. Specifically this is a MasterCard which you can use to withdraw cash at any MasterCard compatible ATM, or make a purchase at one of millions of merchants world wide. It’s yet another step towards wider crypto adoption.
As a demonstration of this new functionality, on December 26th 2018 the first purchase of an everyday item was made using COLX by way of the PolisPay debit card.
What is a Crypto Card?
A cryptocurrency debit card allows you to spend COLX, Bitcoin, or other digital currencies as easily as you’d pay with fiat currency.
Just like any other bank card you may own, crypto debit cards are tangible, plastic cards which you can use at certain places to pay for things like your morning coffee. Of course, these cards are a relatively recent development in the blockchain world and were invented to solve the problem of using digital coins for day-to-day expenses.
Simply put, cryptocurrency debit cards allow you to add funding in a specific cryptocurrency to your card’s prepaid balance. Thanks to that, you can buy almost anything with cryptocurrency. While many businesses don’t accept payments in COLX (yet), they do accept debit cards. With a cryptocurrency debit card, merchants get paid in their own currency while you are charged in COLX from your prepaid balance.
Problems Solved
As ColossusXT is continually developed as a top tier privacy and technology project we are constantly looking to navigate cryptocurrency related hurdles. We believe partnering with the POLIS team is a step in the right direction to accomplish these goals:
- Increasing liquidity
- Attracting more mainstream consumers to our community
- Wider adoption of COLX and cryptocurrency as a whole
COLX on the PolisPay platform will enable our community members to store, build, and spend their wealth.
How to get started
PolisPay is in a “Beta testing” phase, and they are currently accepting applicants to test their services. To sign up head over to the PolisPay website: https://polispay.com/
Additionally, the POLIS team is providing us with one hundred (100) beta testing slots. In the coming weeks we will determine a fair way to distribute these slots to our valuable community members.
Conclusion
Cryptocurrency has helped solve a myriad of problems associated with financial inclusion, leading up to the creation of crypto debit cards. Although they are currently not widely used, these unique debit cards are undoubtedly the next big step towards achieving global adoption by assisting crypto pioneers who want to use their digital assets for everyday expenses.
As we enter the new year, look for additional COLX information related to PolisPay, the launch of our new wallet, updates on ARMIS development, a partnership offering hardware storage solutions for your COLX coins, and an updated road-map which will guide us through the next phases of the project.
COLX Team
Website: https://colossusxt.io/
Whitepaper Download: https://colossusxt.io/whitepaper/
Roadmap: https://colossusxt.io/roadmap/
Discord: https://discord.gg/UatyC
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