Centra Makes Cryptocurrencies Spendable

The wallet is linked to a debit card

by Marina Ovcharova
09 February • 1 min
In News

Centra's concept is searching for a solution that eliminates the gap between cryptocurrencies and spendable assets. The platform is actually a debit card-linked cryptocurrency wallet. Its users can spend their coins (such as Bitcoin, Ethereum, Dash) anywhere they are accepted. The system operates worldwide.

Centra serves the cryptocurrencies' main purpose

The initial idea of Bitcoin was for it to become spendable currency, leaving the financial institutions out, and eventually replacing money as a whole. But today cryptocurrencies remain mainly market-speculating means and are rarely spent. Even if someone would like to buy something with their cryptocoins, they would need to cash their value into some fiat money.

On the other hand, if the cryptocurrencies were spendable this would give their owners the opportunity to use them. This process would in time develop cryptocurrencies' own intrinsic value.

This is what Centra is aiming at using the Centra debit card as a tool to achieve it.

Centra takes the next step and opens a marketplace

In an attempt of accelerating these processes, Centra plans to open an online marketplace, where one could actually shop, using cryptocoins. The opportunity to make purchases using cryptocurrencies is not new, but to the present moment it is strongly limited to selected stores in very few locations worldwide.

The idea of a marketplace has a wide range of advantages, writes Trudex analyst Nicholas Kith. It has the potential to attract more investors in cryptocurrencies because, when one knows, they can buy actual assets using the coins, it is more likely to dare and spend on getting them. Also, if exclusive deals are accessible only by cryptocurrencies, this will create a need for possessing cryptocurrencies.

All this is not just a crypto-dream, but is becoming reality. Centra tokens are available to buy in most big exchanges and owing them ensures access to their platform. Once in, one can receive, send and spend cryptocoins in an effective way.