How does a card backed by your crypto work?

What are the three ways a crypto card can work?

A card can sell your crypto at checkout, pay you rewards in crypto on ordinary spending, or spend against crypto you keep as collateral. Gether is the third.

Selling at checkout closes the position with every purchase. A rewards card changes nothing about what you hold. A collateral card leaves the position in the market and adds to a balance you repay.

Which assets count today?

Today the rail backs USDC, and other assets are counted as the rail adds them. Gether is built for major crypto such as bitcoin and ether, and the account shows what each counts for before you deposit.

What happens when crypto falls?

Your spending power falls with it, cushion first. As the cushion thins the account says so, at the required level new charges are declined, and collateral can be sold to cover what was drawn, at market prices and without notice.

Who holds the crypto?

Gether does, together with other members' assets. You hold a balance with Gether rather than a key, so you are exposed to Gether as a counterparty.

If we fail, are hacked, or make an operational mistake, you can lose assets our records say are yours, and no insurance and no government scheme makes that loss good.

What do you owe?

Drawn balances have to be repaid, whatever the market does. A fall in prices reduces what the account can support, and what has already been drawn stays owed.