- Investors will now be able to use a credit card that is linked to their Axion crypto accounts.
- The Connect Visa Credit Card is the first cryptocurrency card that offers credit to holders.
Since joining the crypto market, Axion Network is out to change how cryptocurrency investment is carried out. The Axion token uses smart contracts in offering predictable returns to investors based on a scenario with similarities to the traditional certificates of deposit. To achieve its goals, the Axion Network has lined up several products to revolutionize crypto investment.
One of the upcoming products is the Axion Connect Visa credit card.
What is the Axion connect Visa credit card?
Investors will now be able to use a credit card that is linked to their Axion crypto accounts. With the card, investors can carry out transactions just like through the regular bank. The card makes Axion one of the limited number of currencies available on the Connect Visa credit card. This partnership means that shareholders will be able to collateralize their card with AXN and in the process effectively remove AXN from the circulating supply.
How will Axion’s connect credit card work?
The Connect Visa Credit Card is the first cryptocurrency card that offers credit to holders. The solution ensures cardholders can leave their assets untouched as they benefit from credit offerings by Connect. Investors will be able to deposit Axion tokens that will extend a line of credit based on a percentage of the asset’s value.
Through the card, holders pay their balance in fiat or crypto. You can also liquidate your crypto when you choose and withdraw in fiat or crypto. Through the use of company profits to perform token buy-backs and build liquidity pools, Connect maintains deep liquidity for all members. Unlike other competitors, staking rewards simply accumulate until holders withdraw them.
Holding and staking Connect tokens like AXN gives investors access to higher tiers of earnings with their Visa crypto credit cards. Compared to other existing cryptocurrency cards, the Connect Card is a true Visa credit card with two significant advantages over prepaid debit cards. It enables holders to spend using credit, and use it for pre-authorized transactions, like hotels, gas stations or pay-per-click advertising. With the Connect card you can:
- Control your funding sources
- Manage both fiat currency and crypto
- Increase spending power by up to 180%
- Continued benefit from any increases in the value of your preferred digital asset
When you load your cryptocurrency like Axion as collateral, Connect extends customers a credit line based on a percentage of its value. This feature helps customers spend while keeping their digital assets intact. Investors can never lose out by having to liquidate it early.
How secure is Axion credit card?
Since suffering the launch hack, the Axion Network has been keen to ensure its investor funds are safe. The team understands that strong security measures act as a boost to attracting more investors. Axion has therefore partnered with other players with an emphasis on more security. The Axion Connect Visa Credit Card is no exception as it has some of the most robust security features around.
The card has institutional-grade crypto custody as it utilizes a state of the art cold storage. The storage is protected by the pinnacle of physical and technological security. Your AXN tokens are safe because unauthorized access is prohibited as one will need the correct credentials like biometric clearance.
Furthermore, the Connect card has the best industry data security. Personal information is essential and needs to be protected, a fact Connect Financial understands. Personal data is never stored on the Connect servers to minimize any chances of employee access. Connect has partnered with a PCI DSS Level 1 Compliant data site to secure customer information. Additionally, all assets up to $100 million per account are insured, meaning there is a guarantee in case of theft. Lastly, all the Axion tokens will be subjected to full hardware wallet support.
When will the card be available?
The Axion Connect Visa credit card will be available from the end of January 2021. The CNFI token listing went live on Uniswap as of January 1, 2021. Connect launched the CNFI token with an exclusive presale to Axion OG-5555 stakers at a significant discount to all other presale participants. CNFI tokens were offered to the OG-5555 at a market cap of $4.5 Million ($0.075 per token), with a regular presale market cap at $6 Million ($0.10 per token). Interestingly, there is no lock-up period.
The cryptocurrency market has in the past witnessed a surge in debit cards. However, these cards have not lived up to expectations as they come with minimal or no additional benefits compared to traditional cards. The Axion Connect Visa Credit card is revolutionary for crypto investors. It is worth trying out as it offers a unique way of managing assets. Additionally, the security measures put in place by Connect are a guarantee that your funds will be safe.