Crypto Cards

Bitpay Card Review

Analyzing Bitpay Mastercard

In the Bitcoin space, Bitpay has been around for a while and has earned a solid reputation. When it first opened its doors since May 2011, the company’s primary goal was to become the world’s preferred Bitcoin payment processing service. BitPay has since expanded into new products and services, like the Bitpay wallet as well as the Bitpay Mastercard. These two products work together to make it easier for anyone in the United States to hold and spend their cryptocurrency. Bitpay’s initial concentration was on Bitcoin, but the company has since expanded to include several digital currencies. Dealing with one of the most recognizable names in the cryptocurrencies business is maybe the greatest benefit of this Bitcoin debit card.

PRO

CONS

  • One of the first Bitcoin businesses ever
  • Well-known and highly regarded label
  • Avaialble in the USA
  • Depositing bitcoin onto the card is free of charge.
  • No recurring costs
  • Poor ratings from customers
  • Foreign-currency conversion costs
  • Consistently high fees charged by ATMs
  • There is a $5 inactivity fee for cards that are unused for 90 days.
  • No rebates, perks, or other monetary compensation
  • Currently, it is solely sold in the United States.

What’s Bitpay Mastercard?

Bitpay offers Bitcoin and cryptocurrency solutions including the Bitpay Mastercard. Bitpay was created as just a Bitcoin payment processor in 2011, two years after the Bitcoin network started, but it has subsequently developed many more goods and services. The Bitpay Mastercard card lets customers exchange their crypto assets into spendable fiat value on a Mastercard prepaid card with a click in the Bitpay mobile wallet. Bitpay’s iOS and Android apps let consumers handle all their crypto finances in one simple interface.

Why Should I Get a Bitpay Mastercard?

Getting some bitcoin converted into dollars and loaded onto a Bitpay Mastercard card is a great way to save money since there are no conversion fees involved. Bitpay does charge additional costs for Bitcoin mining and network use when loading funds onto a Bitpay Mastercard. Before confirming a deposit to a Bitpay debit card, customers should verify the costs involved with that transaction, since they are subject to change.

The fact that the Bitpay Mastercard can be used in the US is another major perk. Contrary to most other prepaid crypto cards, this one is accepted everywhere in the United States.

An additional perk of this cryptocurrency credit card that many Bitcoin novices are likely to overlook is that it is issued by Bitpay, a respectable and trusted organization that has been serving the Bitcoin sector since 2011. Since no other Bitcoin prepaid card provider has been in business as long as Bitpay, customers can rest easy knowing they are using a tried-and-true service.

Finally, with a Bitpay debit card, you can count on generous ATM withdrawal limits. Bitpay members can withdraw roughly $6,000 per day from ATMs, although most other cards have daily withdrawal limits of only a few hundred dollars. Obviously, this may be seen as a security risk if someone were to lose or have their card taken.

Bitpay Mastercard safety?

BitPay promotes the following security measures for the safety of its users:

  • Identifies the cardholder by signature and PIN number
  • The EMV chip on this card is a fraud deterrent.
  • Zero Liability: Unauthorized charges you quickly report to the issuer aren’t your responsibility.

BitPay highlights that the card is not linked to a user’s bank account or other financial accounts, making it impossible for criminals to gain access to the cardholder’s bank cash.
Despite the fact that these safeguards reduce the likelihood of fraud, there are still potential dangers associated with using a crypto debit card that consumers should be aware of. Some Trustpilot reviewers, for instance, say they lost money due to hefty transaction fees and poor currency rates when loading funds onto the card

Bitpay Mastercd fees

BitPay does not apply any transaction fees for transactions made within the United States; however, it does impose a fee of 3% to cardholders who are traveling outside the United States to cover the expense of currency conversion. In addition, there is a cost of $2.50 incurred whenever cash is withdrawn from an ATM.

How to apply for the Bitpay Card?

Applying for and obtaining a Bitpay Card is a rather simple process:

  • Get the mobile app by downloading it (available in iOS, Android, Windows, Mac and Linux)
  • Create an account.
  • Tap on the card, selecting its icon from within the app.
  • Finish the registration process for the card and any necessary verifications.
  • Top up your wallet using crypto

Bitpay procedure for requesting a plastic physical card

Simply access the BitPay website and hit the “Order a Card” button in order to have your plastic card mailed to you. You will be required to give in your full name, as well as your email address, billing address, and phone number. The next step is to click “Continue.”
Remember to check your email for further directions on how to access the account associated with your BitPay Card.

Rewards & Cashback for Using Your BitPay Card

Paying with a BitPay Card will earn you cryptocurrency incentives and cash back at over 100,000 locations. Only if the place is giving cryptocurrency incentives, you can look them up and see what percentage you will receive by using the BitPay app.

To add to the cashback rewards, Bitpay also provide a $10 reward when your friends deposit their first $100.

Conclusion

It’s probable that Bitcoin purists based in the United States will find the Bitpay Mastercard the most useful. This crypto credit card is not for the person who trades in a wide variety of altcoins.

Obviously, you won’t be able to use this crypto debit card if you’re not a resident of the United States. However, as Bitpay is working on expanding their card availability to additional regions of the world, you should keep monitoring their website for updates.

Always do your research before committing to any one crypto debit card provider. However, despite the absence of cash-back benefits, the convenience of being able to change bitcoin into $ U.S. dollars on a prepaid Mastercard card within the United States without incurring any costs must be quite appealing to the vast majority of bitcoin holders.
BitPay is still one of the greatest choices for many retailers and customers who are interested in exchanging virtual currency on a more casual basis. BitPay is at the forefront of crypto adoption and is one of the top solutions available.

Apothecary

Chief editor and analyst at Cripto. Exposed - Blockchain, Bitcoin, and cryptocurrency advocate in general. My mission is to encourage widespread crypto use. Too quirky?

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