Bitpay Bitcoin Debit Card Review

Bitpay Review

When talking about the big fishes in the cryptocurrency space, one can’t miss to include Bitpay Bitcoin debit card onto the list. Being a well-renowned company, Bitpay enjoys a good reputation. It guides its customers at every step of the way to ensure their utmost satisfaction. The card is Visa-powered and works whereas Visa is accepted. Its fee structure is almost like that of XAPO Bitcoin debit card. However, they don’t have the same diverse features than most of the other debit cards in the market. They only cater US clients and holds only Bitcoin exclusively. That being said, there are many debit cards that don’t offer its services in the US. In this regard, Bitpay is a decent choice for US citizens.

In this review, we shall take a look at what the Bitpay Bitcoin debit card has to offer to its customers.

Advantages

1. Bitpay is a well-reputed and well-known firm. Since they have a reputation to maintain, they ensure their services are always up to the mark for their customers.
2. When a customer signs up with Bitpay, they offer a secure online wallet.
3. If located in the US, you can get a prepaid Visa card. This makes management of your spending quite useful.
4. The card is accepted worldwide.
5. There is no transaction fee when domestically using the debit card.
6. It offers solutions to both businesses and private customers.

Disadvantages

1. It is exclusively for Bitcoin users only. It is a shame that it doesn’t support other cryptocurrencies like altcoin.
2. The debit card is only available for the US market, leaving the rest of the world left out.
3. Surprisingly, you will notice that the card doesn’t come with a pin or a chip. Let’s hope Bitpay changes this in the future.
4. Signing up can be a stringy process as it asks for requisites such as address, social security number, and government-issued ID. This doesn’t leave any room for privacy. The debit card is stricter with its verification –something not many cards have.
5. The maintenance fees are 5x higher than what most cards charge. This makes it a very expensive card to have.

Bitpay Bitcoin Debit Card Charges

• The issuance fee of the Bitpay Bitcoin debit card is $9.95.
• It takes less than a week to ship.
• There are zero transaction fees, making it extremely viable. But, using the card outside of the US costs 3% as for conversion rates.
• The Bitpay’s free packages offer 30 transactions/month. Each transaction, however, costs 1% in the transaction fee.
• The maintenance fee is $5/month.
• There is a $2 withdrawing charge when withdrawing cash from an ATM. International withdrawals cost $3.

Summary

• Physical card: Yes
• Virtual card: Yes
• Card type: Visa
• Mobile app: Yes
• Supported cryptocurrencies: Bitcoin (BTC)
• Supported fiat currencies: USD
• Anonymous: No

Final Word

If you are looking to invest in a debit card in the US whose company enjoys a good reputation then this debit card is for you. They rely on their good reputation to ensure their services always exceed their customer’s expectations. The card takes less than a week to arrive and is cheap too. Since it only supports Bitcoin, it does limit the user’s preferences. Some users also complain about preloading the card. The security it offers is exceptional but comes with a bothersome verification process. Its maintenance fee is higher than most of its competitors. While others charge $1/month as a maintenance fee, Bitpay Bitcoin debit card charges $5/month.