We (bitcoin.com) recently reported that bitcoin users in Europe had problems with their prepaid bitcoin debit cards. Although some of these companies are having problems, there are many cryptocurrency debit cards available around the world.
Since 2015 bitcoin-based debit cards have become very popular
Currently, cryptocurrency enthusiasts have much more infrastructure than the first few days when they just started bitcoin. One of the main trends of 2015-2017 was the increase in prepaid cryptocurrency debit cards backed by Visa, MasterCard and other financial institutions. Some of the cards, such as the Coinbase Shift card, use funds directly in cryptocurrencies, while in others, such as the Bitpay Visa, users sell their bitcoin. for a balance in fiduciary reserves. Depending on where the crypt enthusiast lives, multiple types of cards can be requested and some cards also process digital assets such as ethereum and bitcoin cash. Today we are going to analyze the wide range of prepaid debit cards in digital currency that are available in many different countries.
Keep in mind that this past week we had already reported that Wavecrest Holdings Ltd. has been giving problems to some cryptocurrency card companies. At the moment, bitcoin debit cards issued in Europe such as Cryptopay, Tenx, Bitwala, Bitpay (EUR) and Xapo are out of service.
"Once we can serve again Xapo cards in your country, we will offer you a new card without charge. We are working hard to find alternative card solutions for you, "explains Xapo's announcement on January 5, 2018.
The prepaid Bitwala debit card
The Visa Bitwala card is a popular choice among European bitcoiners offering prepaid balances in euros (EUR). The card is issued by a company called Mychoice and a bank called Wavecrest Holdings Ltd. There is a one-time card reload of 0.5%, and the company offers both physical and virtual cards. The fees for automatic calling are 2.25 EUR, and all transactions per point of sale (PoS, for its acronym in English) are free of charge. Bitwala physical debit cards can be used anywhere Visa is accepted and costs € 8.00, while virtual cards cost € 2.00 per issue.
The Spectrocoin Visa
The company Spectrocoin and its card provide service to citizens residing in the Baltic region. The balance can be topped up in USD, EUR, GBP with physical cards whose price is from € 8.00 and virtual cards that sell for € 0.50. There are no recharge fees, but the Spectrocoin card charges € 1.00 per month for service costs. If an inhabitant of the Baltic States wants to use an ATM in the region or internationally, the prices can vary between $ 3.50 / € 2.75 / £ 2.25 per withdrawal. Spectrocoin cards are also issued by the company Mychoice.
The Bitpay Visa
Bitpay offers a Visa card for both United States and European residents. The recharge rates are free except when they apply to international currencies, and the recharge also charges a fee from the bitcoin network. The purchase of the card costs 10 USD and is issued by the Metropolitan Commercial Bank in the United States and Wavecrest Holdings in the case of European cards. The Bitpay top-ups are a direct sale in exchange for Fiat and the BTC spot rate is based on multiple price indices. Bitpay ATM fees are $ 2 per withdrawal and point-of-sale transactions are free.
Xapo Debit Cards
Xapo offers a popular debit card that can be reloaded with BTC and the physical card costs approximately € 18.00. The company charges € 2.25 for ATM withdrawals and point-of-sale transactions are free. Xapo transfers have real-time conversion and users only pay the bitcoin network fees for the card that is also issued by the company Mychoice. Xapo cards do not have annual fees and a 3% tariff is applied for foreign exchange for that type of purchases. Xapo cards are not available in the United States.
The Coinbase Shift Card
The Coinbase Shift Card is a well-known card in the United States that deducts balances directly from BTC, LTC, BCH and ETH wallets. Only one crypto-active wallet can be linked to the Shift card which is accepted by more than 38 million merchants who accept Visa around the world. Ordering the card costs $ 10.00 and has a conversion rate of BTC to USD of 0%. National withdrawals through an ATM cost $ 2.50 while international withdrawals cost $ 3.50. Shift cards can be connected directly to Coinbase but can also be linked to a Dwolla account.
Coinsbank
The Coinsbank card offers recharges denominated in both bitcoin and litecoin and both physical and virtual cards. The service also used to sell a "no name" card, but this option is temporarily unavailable. On the other hand, payments and withdrawals are only available to verified users who have a level 3 card. This allows cash withdrawals for verified users for a limit of up to 1000 EUR for 30 days. ATM withdrawals cost $ 4.95 and domestic transactions are free. There is a monthly fee of $ 0.95 and inactive users will receive a charge of 4.95 if they do not use the card after two years. Coinsbank cards are not available in the United States.
The Wirex card
The Wirex company offers debit cards both virtual (free) and physical ($ 17) that can be recharged through a Wirex account. The card has a fee of $ 2.50 per ATM as well as a monthly fee of $ 1 for the service. Making legit bitcoin exchange is free apart from the mining fee. The Wirex Visa card works by first recharging the Wirex account and adding money in some local currency (such as USD or EUR). The physical card requires verification but no identification is required for the virtual Wirex card. Wirex cards are not available to users in the United States.
29 crypto cards available around the world
There are many more cards available from different companies such as Advcash, ANX, Mobi, and Worldcore.eu that offer different rates and can only be used in certain countries. At the moment, there are about 29 different debit cards that can be used with cryptocurrency. So the idea that it's hard to pay for real-world items with crypto currencies is a bit farfetched.
What debit card for cryptocurrencies do you use?
Do you prefer a card that we did not mention in the article?
Share your answers in the comments section below.
Source bitcoin.com
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Original author:
Jamie Redman