In the ever-evolving world of blockchain and decentralized finance (DeFi), managing and spending your digital assets can feel complicated. But with Gnosis Pay, spending crypto in the real world becomes just as simple as using a traditional debit card—without the hassle and high fees of other options.
Here’s why Gnosis Pay is a game changer, and why the self-custodial aspect makes it stand out.
What is Gnosis Pay?
Gnosis Pay is the world’s first self-custodial Visa debit card, linked directly to your blockchain wallet. Whether you’re shopping online or paying at a local store, you can seamlessly use your digital assets at over 80 million merchants globally.
But there’s more to Gnosis Pay than just spending crypto. With its self-custodial nature, you retain full control of your funds. Let’s explore what that means and why it matters.
What Does "Self-Custodial" Mean?
The term self-custodial refers to the fact that you, the user, are fully in control of your assets at all times. Unlike traditional financial systems where banks or payment providers manage your funds, a self-custodial card like Gnosis Pay means you hold the keys to your assets.
- Your Private Keys, Your Control: When you use Gnosis Pay, your digital assets are stored in a blockchain wallet that only you control. Gnosis Pay never touches or holds your funds. You manage everything through your private keys, which means only you have the power to authorize transactions.
- No Centralized Authority: Traditional banking systems and some other crypto cards rely on custodians to hold and manage your funds. In contrast, Gnosis Pay operates through a decentralized framework, meaning there is no central entity that can freeze, restrict, or control your assets.
- Enhanced Security: Since Gnosis Pay doesn’t hold your funds, they can’t be seized or affected by external factors like bankruptcy or legal disputes with a third party. You’re in full control, reducing risks of centralized breaches or mismanagement.
In essence, self-custody gives you full autonomy and ensures that your assets are managed securely, with no middlemen involved.
Crypto Cashback Program: Earn While You Spend (with GNO Lock-Up)
Gnosis Pay’s cashback program is an exciting feature that allows you to earn crypto on every purchase, but it does require users to lock up GNO tokens in their Safe wallet to unlock different cashback rates.
Here's how it works:
- 1% Cashback: Requires 0.1 GNO stored in your Safe.
- 2% Cashback: Requires 1 GNO stored in your Safe.
- 3% Cashback: Requires 10 GNO stored in your Safe.
- 4% Cashback: Requires 100 GNO stored in your Safe.
This lock-up system gives users the flexibility to decide how much they want to invest to unlock higher cashback rates. The more GNO you store in your Safe wallet, the more crypto cashback you’ll earn on each transaction.
While some other crypto cards require large staking commitments, Gnosis Pay’s cashback system is based on holding GNO without complex staking procedures. You maintain control over your tokens, but your Safe wallet must meet these minimum GNO thresholds to unlock cashback tiers.
Apple Pay & Google Pay Integration Coming Soon
One of the most exciting upcoming features of Gnosis Pay is the Apple Pay and Google Pay integration. Soon, you’ll be able to use your Gnosis Pay card through contactless payments on your smartphone, giving you more ways to use your crypto in everyday transactions.
This integration will make Gnosis Pay even more convenient, allowing you to:
- Pay directly from your phone with a tap.
- Use the card for online or in-store purchases without needing the physical card.
- Seamlessly integrate your crypto spending with your digital wallet for instant payments.
SWIFT & IBAN Support: Easy Top-Ups
Gnosis Pay is also introducing SWIFT system integration, giving you your very own IBAN. This makes it even easier to top up your card balance directly from your bank account. With the IBAN, you can transfer funds from your traditional banking system into your Gnosis Pay wallet, blending the best of both worlds—fiat and crypto.
How Gnosis Pay Stands Out from Other Crypto Cards
Here’s a quick comparison of how Gnosis Pay’s self-custodial model and cashback program compares to other popular crypto cards:
Crypto.com Visa Card
- Custodial: Funds are held by Crypto.com, meaning you don’t have full control over your assets.
- Rewards: Up to 8% cashback, but staking CRO tokens is required.
- Downside: Custodial nature and high staking requirements limit flexibility for many users.
Coinbase Card
- Custodial: Coinbase holds your funds and handles the crypto-to-fiat conversion.
- Rewards: 4% cashback in crypto, but conversion fees apply.
- Downside: You pay fees for converting crypto to fiat, and Coinbase manages your funds.
Binance Card
- Custodial: Binance controls your assets, and cashback depends on holding a large amount of BNB.
- Downside: Reliance on Binance’s custodial system means your funds are controlled by a third party.
How Gnosis Pay is Different
- Self-Custodial: Unlike the other cards, you hold the keys to your funds. Gnosis Pay doesn’t have access to your crypto, and there’s no need to trust a third party with your assets.
- GNO Token Lock-Up: While some cards require token staking, Gnosis Pay lets you unlock cashback tiers by holding GNO tokens in your Safe. No complex staking is needed—just a simple lock-up in your wallet.
- Complete Flexibility: With upcoming Apple Pay, Google Pay, and IBAN/SWIFT support, Gnosis Pay is bridging the gap between decentralized finance and traditional payments while keeping you in control.
Final Thoughts
Gnosis Pay is revolutionizing how we use digital assets in the real world. With its self-custodial model, you maintain full control over your funds, ensuring security and autonomy. Combine this with a crypto cashback program, Apple Pay and Google Pay support, and IBAN integration, and Gnosis Pay offers one of the most user-friendly and flexible crypto payment solutions available.
If you value control over your assets, zero transaction fees, and earning crypto on your everyday purchases, Gnosis Pay is the perfect solution. Be part of the future of digital payments today!
Feel free to use my referral link if you want to join and start enjoying all the perks! It will give you a 100% discount on the one-time ordering fee of 30.23 EUR.
👉 Sign up for Gnosis Pay here.Alternatively, if you don't trust the above link, use the following referral code when checking out: ec9b642343ad