Yes, the Redot Pay card is available in India via its official website. You can easily apply for the card and use it to withdraw cash from any ATM that supports Visa Cards.
Here is a video of a Redot Pay card user withdrawing funds from the HDFC Bank ATM.
Do I have to transfer crypto to use the card?
You have to either link it to your Binance account or load the Redot Pay account with crypto before spending it with the card.
Is the Card Free?
No, the virtual card costs $10 in fees, and the physical card costs $100in fees plus shipping.
Is KYC Required?
Yes, KYC is required to apply for the card. Redot Pay says this is to comply with global AML laws.
Is it a Debit Card or a Credit Card?
Redot Pay card is a credit card, but it can be used as a debit card. Besides using the card to spend your crypto, you can also get loans with your crypto as collateral.
Is it a Virtual Card or a Physical Card?
Redot offers both virtual and physical cards. Virtual cards can be used for online shopping and in-store purchases when integrated with Google Pay, Samsung Pay, or Apple Pay Wallet. Physical cards can be used to shop and withdraw cash from an ATM.
How to Apply for a Redot Pay Card?
- Download the Redot Pay App from the Google Play Store or the Apple App Store.
- Complete the KYC
- Deposit stablecoins to the Redot Pay Card account.
- Wait for approval.
- Spend crypto directly with the card.
Frequently Asked Questions
Do I have to pay 30% tax when using these cards?
You might have already paid the tax if you are a crypto user in India.
Is there a Crypto ATM in India?
Yes, the Kempe Mall in Bengaluru has a crypto ATM.
Disclaimer: The current article by The Layer is for informational purposes only and does not constitute trading or investing advice. Please refer to a financial consultant before trading or investing.
