POPA ReconNot a Card War: What Crypto Cards Are Actually Competing On
Not a Card War: What Crypto Cards Are Actually Competing On Crypto cards compete on user needs, not cashback. Market leader offers 0% yet dominates via infrastructure • Type 1 dollar access serves currency instability users needing stable spending; dominates 75-80% volume through local networks and rails • Type 2 crypto liquidity enables spending without liquidating positions like ETH restaking yield for cashback • Type 3 commodity players fight on replicable features with thin margins and low switching costs Winners build hard-to-leave moats; traditional institutions and regulation will res…
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