Nigeria-based financial services provider Bitnob has launched the Virtual Dollar Card in order to help its users conduct seamless online payments. Bitnob is a Pan African startup that is focused on helping people make better financial decisions with Bitcoin.

The company’s new Virtual Dollar Card comes with a series of benefits, including the ability to create a virtual card for free and fund it with up to USD 10,000. Users can also customise their cards, freeze them for security purposes, and keep track of their transactions. This product was launched in the context of a series of restrictions imposed by the Central Bank of Nigeria in 2022.

At the time, the bank restricted the use of naira debit cards to USD 20 per month for international transactions. They also restricted all international transactions to only dollar cards issued by local banks. Users who conduct regular international payments, pay for online subscriptions or shop online were affected by these new restrictions.

The Bitnob virtual dollar card can be used to buy items from online stores such as Amazon, eBay, ASOS, Aliexpress, and Shein. Users can also pay for streaming services such as Amazon Prime and Netflix, and they can subscribe to services such as Canva, and Zoom. More information about Bitnob Bitnob has expanded its service to eight other countries in Africa and aims to position itself as a payment infrastructure that links Africa to the rest of the world.

  The company’s app and virtual card aim to help citizens in Africa to conduct cross-border payments in an easy and secure way. Furthermore, users located anywhere in the world who have access to the Bitnob app can create a virtual card, a facility that’s in sync with Bitnob’s goals of becoming a company that gives people unlimited freedom. According to technext24.

com, the Bitnob app allows users to foray into Bitcoin with a low barrier of entry by leveraging an automated process. In essence, users just need to deposit money and create an automated Bitcoin savings plan to buy a specific amount of Bitcoin at fixed intervals without having to check the price each day. The Bitnob app also has a loan feature that allows users to put up their bitcoin as collateral for an instant loan in USD.

For instance, if they have USD 100 in Bitcoin, they can instantly take a loan of USD 50 with it. The app also comprises a USD wallet and a Bitcoin wallet. The bitcoin wallet can be used to buy, sell, send and receive bitcoin payments, while the USD wallet saves money in USD and offers the ability to conduct bitcoin payments.

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