hey frens

I hope you're doing well today. I'm not feeling great but that's ok. At least I don't have to go to some bullshit job and work for someone else while I don't feel good. That's something that crypto and Hive have done for me. Crypto has given me back my life and freedom, and I will be forever grateful. Living on crypto comes with its challenges though, and that's what I'm here to talk about.

Crypto Life

So the Crypto Life card is a debit/credit card linked directly to your Ledger. It's issues by Baanx (depending on your country), which is not a bank. Baanx is very clearly stated to be a Financial Technology company. Checking out their website - you can see that they are advertising the Crypto Life card integrated into the Baanx app. I assume what they are doing is partnering with Ledger to bake this same functionality right into the Ledger app (when can we get a dapp browser though?).

Users will be able to manage their crypto securely via the Ledger Live app as usual. They will be able to swipe their card anywhere VISA is accepted, and the crypto will be converted to cash for the merchant. Similar to how the Coinbase card works, you configure to spend BTC in the app, and when you swipe a market sell order is placed to settle the transaction with the merchant. Users will also have the option to get their paycheck direct deposited as crypto straight to the Ledger. Fuckin amazing. This is something that BitPay offers but way better. The other really cool feature mentioned here is opening a line of credit in the form of stable coins with crypto collateral with rates starting at 0%. Holy shit. So you could keep your ETH and take a collateralized loan to get DAI or USDC to spend. Features vary by country.

For someone like me that uses crypto for pretty much everything like paying bills... This is a game changer. It can be frustrating because I often have to move crypto around in various ways to pay for things. This kind of eliminates that because I can just have my crypto safe and secure in my Ledger wallet... Then still use it to pay for things without ever transferring it out of the Ledger. Talk about security. People will have no excuse anymore to not get a Ledger wallet. Get yourself a Ledger Nano X and pair it via bluetooth to your phone. Bam, you're ready to go.

Baanx App

Though not directly related, at least as advertised, I did think it was important to take a look at Baanx which is the company behind the new card. On their website, you can see a glimpse of what it will be like (hopefully) to manage your card via the Ledger Live app. Will you need the Baanx app? I dunno. It isn't very clear at the moment. Maybe we need to go deeper.

After digging around on the website, I have to assume that all this will be baked into the Ledger Live app. It wouldn't make sense to need both as it talks about managing your crypto in the Baanx wallet app. I found the card fees as well and it looks like most things like cashback and ATM withdrawals are free (at least in Europe). That's really all the information I could find. We'll have to join the wait list for the card and see what happens when it starts being shipped. I joined the waitlist right away.

The interface in the app looks very easy to use. Pick your primary crypto and set backups in priority order. I assume this would work like... If you have it set to spend BTC and there isn't enough to cover the transaction, it would go to the next on your priority list automatically and execute the transaction. Man, it's hard to imagine how much crypto is being integrated into our daily lives so much... Just think about 5 years from now what it might be like.

Ready to join the waitlist? Use this link to get on the wait list.

It's a free card! Why woudln't you?

Thanks for reading! Much love.

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