Cryptocurrencies are gradually becoming a viable payment option in various markets and jurisdictions. If there is a tool that significantly expands the usability of digital currencies in a world still dominated by traditional payment systems, it is the cryptographic debit card. A growing number of reliable platforms offer the fintech product to bitcoin enthusiasts.
Established cryptographic card providers in the US
Bitpay, which processed more than $ 1 billion in payments during a 2018 bassist, offers users in all of the US states. UU A convenient way to spend your cryptocurrencies online and in the store. Your prepaid Visa card is linked to a cryptocurrency wallet that supports the instant conversion of Bitcoin Core (BTC) and Bitcoin Cash (BCH) to US dollars and local fiduciary currencies outside the country.
The Bitpay cryptographic card is available only to US residents. UU To apply, it is necessary to provide a private address, a valid identification issued by the government and a social security number. There is a $ 9.95 fee that covers the cost of issuance and an inactivity fee of $ 5 per month after a 90-day inactivity period. A 3 percent currency conversion fee applies each time the card is used outside the US., cash withdrawal at an ATM costs $ 2 in the United States and $ 3 abroad.
Shift, another card available in the USA, allows users to connect to their Coinbase accounts. The Visa card does not have a maintenance fee, but a 3 percent commission is charged on international transactions. ATM withdrawals cost $ 2.50 in the United States and $ 3.50 in other jurisdictions. The card itself is $ 20. Shift is only compatible with BTC and offers a free conversion from the core of bitcoin to US dollars.
The main cryptographic debit cards available in Europe
Wirex is the first choice for many Europeans. The UK-based startup offers virtual and physical Visa debit cards, and the plastic version comes with a chip and PIN. They are currently available for residents of the European Economic Area (EEA), where Iban support was introduced for all accounts in euros. However, the company plans to offer its services also in the markets of North America and Asia.
Users can load the card with bitcoin core (BTC), ethereum (ETH), curl (XRP), litecoin (LTC) and waves, the latter has recently been added. Cardholders can spend three major fiduciary currencies: euros, US dollars and sterling. Wirex users pay a $ 1.50 card management fee each month. ATM withdrawals within Europe cost $ 2.50 and $ 3.50 elsewhere. Shop purchases are rewarded with a 0.5 percent crypto refund on BTC.
Revolut, another British company, offers up to 1 percent refund in cryptocurrency for payments made with your Revolut Metal card. For less than $ 16 a month, the digital bank’s premium service gives customers access to five major currencies: BTC, BCH, ETH, XRP and LTC, and the ability to pay in more than 150 fiduciary currencies. The contactless card, which can be used wherever MasterCard is accepted, includes withdrawals at ATMs free of charge up to € 600 per month ($ 680).
Cryptopay issues another card in virtual and physical form. The latter has a chip and costs $ 15. The contactless card is currently issued only in Russia, where it has a charge rate of 1 percent and a monthly service fee of 65 Russian rubles, less than a dollar. Cryptopay plans to bring his cards to Singapore. The payment provider supports BTC, ETH, LTC and XRP. A fee of $ 2.50 is applied to withdrawals from ATMs and each exchange transaction is charged a commission of 3 percent.
Some newcomers to the market
Several payment providers and new fintech companies have launched new cryptocurrency debit cards in recent months. These platforms try to attract the attention of cryptography users around the world and demonstrate that they are alternatives to well-established products in the market.
Fuzex is the cryptocurrency payment card project that last summer chose Bitcoin Cash (BCH) as its base cryptocurrency. It is also compatible with ETH and the platform’s own token, FXT. Fuzex cards are currently issued to residents of Europe and the APAC region. The physical card is NFC payment enabled. It comes with an EMV chip and a bar code screen.
Crypto.com, a Hong Kong-based company formerly known as Monaco, announced in October that it will begin shipping its MCO Visa cards to customers in Singapore. The prepaid cards are linked to a mobile wallet that allows holders to buy, sell, store, send and track digital currencies such as BTC, ETH, Binance’s BNB token, the platform’s MCO tokens, as well as the main currencies fiat.
Aximetria offers a debit card linked to a cryptocurrency wallet that was available to Russian citizens from last year. In November, the new company based in Switzerland told news.Bitcoin.com that its platform is compatible with BTC and ETH, which can be used for online and offline payments through instant conversion to fiat. The company is partnering with the Cex.io cryptocurrency exchange. The card can be ordered from your iOS application.
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