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Purchase Gift Cards Using Terra's Stable Token UST?

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@mawit07
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Often times converting from cryptocurrency to fiat for the purpose to pay or spend on goods and services can be difficult. As time passes and more merchants are accepting cryptocurrency as payment it is getting easier to spend cryptocurrency for goods and services.

In today's post we look at a service of spending Terra's UST for gift cards.

https://www.terra.cards/

Where it sells gift cards to over 25 countries and for the USA it offers over 150 different merchant's gift cards.

Terra.cards will offer gift cards ranging from $25 up to $2,000. Note apparently in the USA the limit to spend is $1,000 per a day, so not sure why they are offering $2,000 gift cards when US residents can not purchase them. Anyways there is a whole range of gift cards from the most common ones such as : Lowes, Home Depot, Target, Walmart and many more.

For those who are not familiar UST token is one of the native tokens on the Terra blockchain. There is also native token Luna that is paired with UST and with Terra's algorithms it tries to make UST pegged to $1 USD. The pegged has been mostly successful since Terra's launch so it makes it easier to use the crypto for purchases due to its stability.

On Terra.cards once you select the card to purchase go through the process of purchase you will be require to place personal address in Billing Information. Therefore this does not make it an anonymous purchase.

There is a 4% convenience fee on top of the price of the gift card. This is likely the markup for people using the site to purchase the cards even though it is converting 1 UST to $1 USD gift card.

The site is pretty easy to use and loads quick. The search feature is simply to use. Selections of gift cards are wide range in product offerings. Most gift cards are sent to email with pass code and within 24 hours after purchase.

I wanted to mention Terra.cards because what I am seeing here is real daily use of UST stable coin. This is one step closer to a common use of the token and likely adoption in the real world.

With Anchor protocol investing in "EARN" one will earn around 20% APR making it having the potential of yielding enough interest to pay for gift cards. With a quick ballpark roughly $45,000 invested in Anchor to yield a daily $25 income to purchase a gift card, excluding the convenience fees. This is a great example of Pylon's invest principal and spend yield approach.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!

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