Dec 20, · Buying bitcoin with a prepaid card is not the cheapest option out there and even the cheapest exchange can set you back fees of at least percent. For clients in some countries, paying by card is probably the easiest and most convenient option. Prepaid Card features Shop anywhere with our card It’s easy to exchange and load your prepaid card with funds from your Bitcoin Wallet. Use your card anywhere major cards are accepted. Buy Bitcoin (BTC) with Prepaid Debit Card Paxful makes it easy and secure for you to buy and hold cryptocurrency. Find the best offer below and buy cryptocurrency with Prepaid Debit Card today. Please wait while we find the best offers for you.
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SpectroCoin prepaid cards are funded using cryptocurrencies, which are automatically converted to fiat currencies when paying in-store or online. This process is automated if your funds are stored in your SpectroCoin web wallet, but must be set up first. Overall, the SpectroCoin prepaid cards are best suited to cryptocurrency users looking for convenience and high transfer limits, albeit at the cost of general functionality. After exploding onto the scene in , Bitcoin quickly became a global phenomenon, thanks to its cheap and secure capacity to transmit value between people in just minutes.
However, despite the enormous popularity of Bitcoin during this time, BTC suffered from major liquidity issues, with it being both time-consuming and expensive to use BTC to pay for goods and services.
In order to solve this liquidity problem, several innovative companies took it upon themselves to bridge the gap between the cryptocurrency and traditional markets by bringing to market a Bitcoin debit card. The first of these Bitcoin debit cards was released by Xapo in and allowed users to spend their Bitcoins just like cash at any online or offline merchant that accepts Visa.
At the time, the Xapo debit card was heralded as the final piece of the puzzle needed to bring Bitcoin to the mainstream. Since then, over a dozen companies have launched their own Bitcoin debit card, and further improved on the usability and functionality offered by first-generation cards, many of which include features such as contactless payments, automated billing and even cashback.
For the most part, Bitcoin debit cards allow customers to easily liquidate their BTC to fiat currency, which can then be spent in-store or online. The way this is achieved usually varies from brand to brand, but can be either automatically converted upon deposit, or manually converted as and when needed, usually via an associated app.
Despite the benefits, Bitcoin debit cards have had their fair share of issues over the years. Most prominently, companies that issued their Bitcoin debit cards via Wavecrest were forced to either shut down or suspend services as the payment provider had its Visa license revoked. If you are one of the increasing numbers of cryptocurrency enthusiasts looking to reduce or eliminate your reliance on centralized banks, then Bitcoin debit cards may just be the solution you are looking for.
Bitcoin debit cards enable you to easily spend your crypto, without having to go through cryptocurrency exchanges and banks. In many countries, access to financial infrastructure is severely limited, which is why Bitcoin is particularly popular in less economically developed countries.
With the advent of Bitcoin debit cards, people in these countries can access previously unavailable services for the first time. These Bitcoin debit cards provide users a way to easily convert Bitcoin, and often other cryptocurrencies into fiat currencies, which can then be spent in-store or online at anywhere displaying the Visa symbol.
Like many standard debit cards, some Bitcoin debit cards now offer cashback options, allowing you to earn rewards on your purchases, which can amount to a significant sum if you use your debit card regularly. In addition, many Bitcoin debit cards allow you to store several fiat currencies in separate accounts, allowing you to shop internationally without being lumbered with excessive currency conversion fees.
This benefit also applies to cash withdrawals, helping you to withdraw a variety of different currencies without requiring a currency conversion. Several Bitcoin debit cards are available in a virtual form, meaning there is no physical debit card to carry around. These virtual accounts offer a level of freedom and flexibility simply not possible with a physical card, allowing you to manage your money wherever you are, typically via a mobile app.
Finally, if you are somebody who likes to travel regularly, several Bitcoin debit cards include travel insurance and fraud protection, keeping you safe while abroad, while the as-and-when approach to currency conversion protects you against volatile local currencies. Although we have noted just some of the myriad benefits of Bitcoin debit cards, we should point out that the industry is growing at a rapid pace, with new products and services launched on a regular basis, further improving the value of these cards.
Before buying a Bitcoin debit card, there are a few things that you need to keep in mind. See below for an outline of the key characteristics that we watch when reviewing a crypto debit card.
When it comes to selecting the best Bitcoin debit card for you, you should undoubtedly be looking only at options offered by established companies with a history of trust. Unfortunately, since the Bitcoin debit card industry is fraught with stories of Bitcoin debit cards shutting down rather suddenly, it is important to ensure you are dealing with a company that knows what it is doing. If you are simply looking to spend online, then a virtual Bitcoin debit card will probably suffice, but those looking to access their balance via an ATM will need a physical card, which may, or may not be available depending on your location.
People that buy Bitcoin debit cards often have more Bitcoin than fiat, and are therefore looking for a way to make better use of their funds. However, since some Bitcoin debit cards deduct a percentage on each deposit it is a wise move to examine the full fee schedule to find the one that is the most cost-effective based on your financial circumstances.
Due to the uncertain regulatory landscape of cryptocurrencies, most Bitcoin debit cards are only offered in certain countries. When choosing a Bitcoin debit card, USA customers, in particular, need to be particularly wary, since only a select handful of cards offer full functionality to US citizens.
Commonly, Bitcoin debit cards will market themselves as free, or low cost. This, however, tends to mean that the company makes its money elsewhere, such as charging extortionate exchange or deposit fees. Lastly, the great majority of Bitcoin debit cards do exactly what they say on the tin — allow users to spend their Bitcoin via a debit card.
Back in November , Coinbase launched their first Bitcoin prepaid card. It was more about making the process of spending Bitcoin more efficient. United States. Don't see your country? Fund it. Spend it. Live on crypto. Instantly reload your card with no conversion fee! How to get the BitPay card. Get the App. Load the Wallet. Order the Card. Flexibility Designed for people who want to live life on crypto. Enhanced security Includes EMV chip and options to lock your card and control how you spend.
Worldwide Ready to use in millions of locations around the world. Still have questions? Why do I need a Bitcoin Debit card? How do I activate my card? How do I pay for a prepaid card? You can pay for a prepaid card Bitcoins easy and fast. Where can I get my card statement? Bitcoin Debit Card. Your Privacy is Protected. No ID Required. Say hello. Drop us a line.