MasterCard has spotted an opportunity and will allow its customers to make purchases using bitcoin.
MasterCard has realised the importance of customer choice in terms of transactions, both locally and globally. So, why would they deny a cryptocurrency? Well, that's about to change.
Both MasterCard and the traditional banks make money from the transactions their customers make, so allowing them to make transactions using a cryptocurrency such as Bitcoin will only be positive to MasterCard.
How it works: If a customer wants to make purchases using a cryptocurrency such as Bitcoin, MasterCard's crypto partners will convert the cryptocurrency into traditional currency. They then use that as the final transaction method using the MasterCard network.
MasterCard will, apparently, be supporting a few different cryptocurrencies, probably the top ones such as Bitcoin, Ethereum, Litecoin, Cardano and Polkadot. But, if this proves to be successful for MasterCard, there is no doubt that they will adapt to more types of cryptocurrency, and so will MasterCard's competitors as well.
So, if you have invested in some cryptocurrency and wish to make purchases to pretty much anything you want, you might be able to do so with the swipe of your MasterCard.
Take a look at the video below by YouTube channel, Later Clips, on MasterCard To Support Buying In Bitcoin.