Home News John McAfee Issues His Own Crypto Debit Card Based on Visa

John McAfee Issues His Own Crypto Debit Card Based on Visa

John McAfee, the most popular personality in crypto community and a 2020 US Presidential candidate, has issued a new crypto debit card with his image on it. The card has been issued in partnership with Visa.

April 27, 2019 12:14
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When it comes to increasing cryptocurrency adoption, the role and importance of crypto debit cards is very critical. They allow cryptocurrencies to be spent anywhere just as one can spend regular fiat currencies. Till now such debit cards have been issued by various cryptocurrency startups only, but now it looks like an John McAfee is also set to issue them now. The 2020 Presidential Candidate of United States, and one of the most prominent personalities in the cryptocurrency ecosystem, announced yesterday that he is issuing “the first crypto credit card accepted EVERYWHERE”. Have a look on his tweet:

As you can imagine, the term “credit card” popped many people’s eyes. But McAfee was quick to rectify the fact that it’s not a credit card but a debit card actually. In another tweet sent out 2 hrs later he said:

The cards have been developed in partnership with Visa, and since they include the logo of McAfee’s 2020 Presidential campaign and slogan, it looks like they have been made to promote his candidature for US presidency. Moreover, McAfee revealed that first 12,000 will also have his image on them. After that they’ll be issued plain i.e. without his picture, that is.

It’s unclear that which financial institutions will help McAfee convert crypto to fiat currencies whenever a payment is made using this card. Plus, McAfee himself is also on the run and fighting extradition request of US government. So, we can’t say for how long these cards will continue to work once loaded with crypto. You’re supposed to use them at your own risk. I won’t advise you to load it with a large crypto balance until we come to know more information about the financial institutions making it work, and until John McAfee’s troubles with the US government are fixed. As long as you load them with smaller amounts of crypto there’s no problem.

It’s also worth keeping in mind that Visa and Mastercard are not very fond of supporting such cards. They have shutdown many similar programs in the past, and if government tells them they can shutdown this program too. So let’s see for how long McAfee’s crypto debit card survives!

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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