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  • September 10, 2019

By now almost everyone should be familiar with most of the terms used in the crypto-space. If you are not familiar, here are some basic commonly used terms and their definitions: 

Cryptocurrency is a digital currency designed to work as a medium of exchange enabling direct payments between individuals. Cryptocurrencies leverage blockchain technology to gain decentralization, full transparency and absolute immutability. The cryptocurrency transactions are recorded on blockchains – also known as digital or public ledgers. The tech allows digital information to be distributed, but not copied. The most common categorization of cryptocurrencies are: tokens and (alt)coins. Altcoins (alternative coins) is usually referred as coins that are variants of Bitcoin, built using Bitcoin’s code but with different features. Coins run on their own blockchain. For example there is  Ethereum (ETH), Stellar (XLM), NEO (NEO) and many others. Tokens represent a particular asset or utility. They are created by using a template of the blockchain one wants to build upon. TERN is one of many examples of a token. TERN is created on top of the Stellar Network because of its very low transaction fees and super-fast transaction times. 

With any new technology there are some challenges. Which wallet should we use? Where to buy or transfer cryptocurrencies? Where do we securely store our wallet information? These are some of the questions people often ask.  According to Chainalysis between 2.3 and 3.7 million Bitcoins are lost due a variety of reasons, with the most prominent one being losing access to private keys. That’s a staggering number and precautions should be taken when it comes to storing your private key. You certainly don’t want to lose your crypto, right? 

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You can easily use the “Transfer” function from your personal BlockCard account. With the “transfer” function you can send TERN to anyone, even if they do not have a BlockCard account. Just type the e-mail address of the person you want to send your TERN to and they will receive an e-mail stating they received TERN. To have access to the TERN that was sent to them, all they will need to do is create a BlockCard account with the same e-mail address and their funds will be immediately available to them. No more multiple wallets needed, no more risk of losing private keys and no chance of sending your funds to the wrong person. It cannot get any easier than that.

Figure 1: Transfer function of the BlockCard

There are many retailers across the world that accept cryptocurrency payments. BlockCard simplifies everything for you. You can use your card wherever VISA is accepted. Perhaps you want to go out to dinner, see a movie, watch a game or donate to your charity of choice? BlockCard allows you to spend your crypto in your everyday life. It is simple and easy to use. Want to get your family and friends into the crypto space? send them some TERN today and get them started on this exciting new journey!

 


1 Bitcoin’s $30 billion sell-off
https://blog.chainalysis.com/reports/money-supply

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The BlockCard™ has been issued to you by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank © 2014. The Program Manager for the BlockCard™ is PAL Card Minnesota, LLC. By using the BlockCard™ you agree with the Terms and Conditions of the Cardholder Agreement and fee schedule, if any. The BlockCard™ is nontransferable, and it may be canceled, repossessed, or revoked at any time without prior notice subject to applicable law.
* The USA PATRIOT Act is a Federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. You will be asked to provide your name, address, date of birth, and other information that will allow us to identify you. You will be asked to provide your name, address, date of birth, and Social Security Number which will allow us to identify you. “100% Approval” and “No one is Turned Down” is contingent upon successfully passing this mandatory identification confirmation.
** Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically.

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