Numbers of Bitcoin Debit Card Providers Increasing Rapidly
Cryptocurrency debit and credit cards are now available globally in: US dollars, Euro, GBP, CAD, RUB and many others. Most issuers will provide you with a plastic card and a virtual version – and many can be anonymous. Most do charge a nominal monthly fee of about $1, with a basic initial setup/delivery fee ranging from $5 to $25 USD. Not expensive. However, make sure that the card you chose is available to you as a resident of your country.
When choosing your Digital Debit Card, take the following into consideration:
- Availability in your country
- Authorized local national currencies
- Anonymity level
- Plastic & virtual forms
- Worldwide shipping
- Foreign transactions fees
- Monthly fees
- Setup fees
Why Would You Want One?
Whether you're a cryptocurrency aficionado or are simply looking for a diversified and secure payment alternative, they could work well for you.
Functionally, they work just like ordinary prepaid debit cards and can be used where a merchant is signed up with Visa or Mastercard. With funds loaded onto the account, you can use them at local stores, online, and withdraw funds in local fiat currency from ATMs.
To top up, in most cases you can use bitcoins, and often with bank wires, and even credit cards. There are other options, so check them out.
To order, you'll typically go through a basic registration process. There's usually a full identity version requiring basic identity docs (an image of photo ID & residential utility bill for example), or an anonymous one with usage and amount limits imposed. Shipping is 2-3 weeks unless you pay express, then you can have it in a few days.
For those of you looking for a bargain and want to get a discount on the fee, you can check out:
- Cryptopay.me (25% discount)
- Wagecan (20% discount) ID Required
- Wirex (25% discount) ID Required
We're quite enthusiastic about these new debit payment options. Security, diversification and flexibility are important features for us. Also, with a virtual – online – option, you're never stuck when you travel and while shopping online. However, we do have an issue with providing ID – that was the beauty of cryptos in the first place. Most if not all, governments classify digital currencies as ‘assets'. See our blog on this here.