Ether.fi Launching a cryptocurrency credit card? Five major empowerments plus easy KYC clearance tips at a glance

The U Card Battle Intensifies: Ethereum DeFi Protocol Ether.fi Joins the Fray Ether.fi has launched four levels of U Card, focusing on non-custodial wallets, high annual financial yields, cash back on consumption, hotel discounts, and airport lounges. The card benefits are reminiscent of Cryptocom's early offerings, but Ether.fi's entry threshold is much lower and doesn't require locking platform tokens to bear price drop risks. The model of staking BTC and ETH to borrow stablecoins for consumption is similar to a credit card's financial proof of creditworthiness. Ether.fi is positioning itself like Solayer, primarily offering staking services. Similar to how Solayer integrated liquid staking of sSOL and sUSD into its payment system, Ether.fi is combining weETH, eUSD, and eBTC into its payment system. Unlike competitors, Ether.fi emphasizes the ability to consume using non-custodial wallets. If a wallet holds stablecoins, they can be stored in Ether.fi's vault, currently offering an 11% annual yield. The staking feature's eUSD also provides a 6% return, compared to Infini's 5.76%. Card cashback starts at 2% for the entry-level Core card, with other cards offering 3% and up. Hotel discounts are partnered with Entravel, offering 15-30% off on the Ether.fi Hotel platform. The card offers two consumption modes: direct spending or lending mode. The lending mode allows staking BTC and ETH to borrow stablecoins, functioning similarly to a credit card with staked assets serving as financial proof. Ether.fi offers four card levels: - Core: Entry-level with no threshold - Luxe: Partial benefits superior to Core - Pinnacle: Highest level generally available - VIP: Invitation-only For Taiwanese users, providing a Taiwanese ID simplifies the KYC process, allowing quick card activation and compatibility with Apple Pay, Google Pay, and Line Pay. Risk Warning: Cryptocurrency investments carry high risks with potential for significant price volatility and possible total capital loss.