Key takeaways
- You do not have to sell on an exchange and wait for a bank transfer before you can spend.
- A digital asset payment card converts only the amount you pay, at the moment you pay, and settles in USD.
- Keeping the balance you plan to spend in a USD stablecoin such as USDT keeps your budget predictable.
- With SCHWARZMAN the card is part of the membership, SCHWARZMAN charges no deposit fee and eligible payments earn 1% cashback in SHOP Token.
The problem: digital assets are easy to hold and hard to spend
Most people who hold digital assets keep them on an exchange or in a wallet. The moment they want to use them — a dinner, a flight, a new phone — they run into friction: sell, withdraw to a bank account, wait one to five business days, then pay with a regular card. Every step adds fees and delay.
Four ways to spend digital assets
- Sell on an exchange and withdraw to your bank. Reliable, but slow and usually the most expensive route once trading, withdrawal and bank fees are added up.
- Pay a merchant that accepts on-chain payments directly. Only a small fraction of shops and services do, and network fees make small purchases impractical.
- Peer-to-peer trades. Flexible, but time-consuming and with counterparty risk.
- Use a digital asset payment card. Your balance stays in your wallet until you pay; the exact amount is converted automatically and the merchant receives a normal card payment.
How paying with the SCHWARZMAN card works, step by step
- Fund your account. Send a supported digital asset from your own wallet or exchange to your personal deposit address. SCHWARZMAN charges no deposit fee — you only pay the blockchain network fee.
- Hold it as it is. Nothing is converted in advance. Your balance remains in the asset you deposited.
- Pay like any card. Enter your virtual card details online or pay via mobile wallet where supported — at supported merchants internationally.
- Automatic conversion. At the moment of payment the app converts exactly the amount needed and settles the transaction in USD. A 3% card payment fee applies in any currency.
- Cashback lands in your wallet. Eligible payments earn 1% cashback in SHOP Token once the transaction has settled.
What it costs
| Item | Cost |
|---|---|
| Membership (incl. virtual card) | $19.99 per month, cancel monthly |
| Deposits | No fee (blockchain network fee only) |
| Card payments | 3% per payment, in any currency |
| Payments in other currencies | Card-network exchange rate applies; same 3% fee |
| Physical card | Not yet available; separate fee structure to be published |
Five practical tips
- Keep the money you plan to spend this month in a stablecoin such as USDT so a market move between deposit and purchase does not change your budget.
- Learn your limits before a big purchase — they are shown in the Limits section of the app.
- Freeze the card from the app whenever you are not using it for a while.
- Keep a record of conversions for tax purposes. In many countries a conversion from a digital asset to fiat is a taxable event, whether it happens on an exchange or at a checkout.
- Only consider holding rewards for funds you do not need short term, and read the terms first — rates are 'up to' figures, variable and not guaranteed.
Frequently asked questions
- Can I pay from a digital asset balance at a normal supermarket?
- Yes, indirectly. The supermarket receives a regular card payment in USD while the amount is deducted from your balance and converted automatically at that moment.
- Do I need to convert before shopping?
- No. Conversion happens automatically at the moment of payment. You never have to sell in advance or hold a fiat balance.
- Which asset is best for everyday spending?
- A USD stablecoin such as USDT is the most predictable choice because its value is designed to stay close to one US dollar. Other assets work too, but your spending power changes with the market.