Cryptocurrencies or traditional electronic wallets? We explain the differences
By Guest
Bizum is a very popular instant payments system in Spain that allows you to send and receive money between individuals through the mobile, using only the phone number.
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In Spain, everyday payments have changed at such a speed that it can be said that “it flies.” The cash has its space in the street, but the purchases by card and by the mobile phone have grown in recent times.
That while immediate transfers also coexist with electronic wallet solutions. In that same period, cryptocurrencies began to operate more clearly, under the European rules of the entry into application of the Mica framework, which offers a little more predictability to those who use or offer crypto services.
Daily payments: bizum, purses and card
In the routine, the immediate transfer by Bizum has almost become a common language among friends, family and small payments to online purchases. In 2025 there was a great revolution when BBVA became the first bank to allow the use of Bizum in physical TPV Android, since trade can introduce the customer number and this can authorize the operation through its mobile phone.
Practicality is the ideal one for those who does not want to take your portfolio card, while confirming the operation immediately. For many people, this is comfort to beast, especially in small purchases. And it is in the universe of online trade where Bizum has transcended far beyond the P2P.
In addition to retail and digital subscriptions, Bizum has settled in online leisure. Ticket sales, streaming platforms and regulated game verticals. Thus, there are already several online casinos that allow Bizum to enter from the bank’s app, without having to enter the card data and with immediate fertilizer of the balance.
Within the world of online entertainment, there are already directories that mark where the method is already part of it. A clear example is the Casinos with Bizum They show how a very extensive solution in everyday life, as in the circle of friends, is directed towards the checkout of digital services.
From the user’s point of view, the flow is simple (choose Bizum in the checkout, accept the operation in your bank, see the balance instantly). For operators, Bizum is a useful method to reduce the abandonment of the cart, in addition to improving payment reconciliation since each operation is linked to a unique identifier.
In any case, payments with Bizum in online entertainment guarantee security controls comparable to those of the banks, that is, reinforced authentication and limits configurable by bank and operator.
How the use of crypto as a payment method is modified with mica
The commissioning of the Mica, the Regulation (EU) 2023/1114, allowed the European Union to have the bases that make up a common framework for what are the issuance and provision of cryptoactive services.
In the case of Spain, the full application of the Regulation corresponds to December 30, 2024, although applied in the transition period for those who already had it applied according to national norms.
It is evident that the possibility of paying with crypto and/or integrating payments in crypto makes those who operate in this way have more clarity With respect to the licenses they have to obtain, user information and protection obligations, which reduces legal indeterminacy that does not reassure consumers or companies.
For those who follow the sector, this also allows distinguishing between regulated tokens, stablocoins that can be considered comparable to electronic money, and custody or negotiation services.
Costs, deadlines and reversibility: what does each stand out
Bizum generally It offers instant transfers For the client, although it has limits per operation and per period, which are established by the service and by the issuing bank. The most traditional digital portfolios maintain a variable cost per operation (reception, withdrawal, conversions), and depends on the way of financing.
In crypto, the commissions represent different cost according to the network and the time of day. Under this prism, Stablecoins reduce price volatility, however, trade implies a conversion to euros and the correct accounting integration.
Crypto wallets with buyer protection and possible returns (when they think) can also contribute an extra layer of tranquility to the consumer, although the crypto tends to be irreversible as soon as there is a bilateral agreement in defined network conditions.
Taxation: what includes and wait hacienda
The informative model that the Tax Agency introduced, taking as good practice what other countries such as Germany have done, has much more to do with the crypto ecosystem than with traditional IRPF models. Model 172 collects the balances of entities forced to inform in crypto-monses.
He Model 173 has operations information. The 721 model declares crypto in wallets or purses generated abroad when a threshold is challenged, and with its own calendar.
For the consumer-negotiating, using crypto to pay a coffee is still an experience that does not change. For companies and service providers it is decisive to have the records in order. For the most advanced user, understand the incidence in the personal income tax and personal accounting.
Regarding the bank, the integrations of the classic payment systems with crypto systems begin to make them approach. In July, the BBVA went on to negotiate and guard, through application for customers in Spain, directly, Bitcoin and Etheronce the mica umbrella (markets in crypto-assets regulation) was activated.
Discharge of responsibility: ‘Guests’ It is a section of commercial content of Diariobitcoin For brands and advertisers with distribution on their digital platforms. Diariobitcoin It was not involved in the production of this text, so the opinions and recommendations exhibited do not represent the opinion of the environment.
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WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.
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