What is a bitcoin debit card?
What types of bitcoin debit cards exists?
How can I use a bitcoin debit card?
Which currencies can I use with a bitcoin debit card?
How can I order a bitcoin debit card?
How long does it take to receive a bitcoin debit card?
How can I withdraw money from a bitcoin debit card?
How much a bitcoin debit card cost?
What are transaction costs associated with a bitcoin debit card?
What are the limits of a bitcoin debit card?
What is a bitcoin debit card?
A bitcoin debit card is like a VISA or Mastercard, you can use it to buy goods or services online and offline or withdraw money from ATMs. The bitcoin cards are directly backed by bitcoin, it’s easy to spend cryptocurrency funds anywhere in the world.
What types of bitcoin debit cards exists?
There are basically two types of bitcoin debit cards. Offline plastic cards that looking like an ordinary VISA or Mastercard, which you can use the same way, and an online solution. The virtual bitcoin debit card works the same way but there is no physical production.
How can I use a bitcoin debit card?
You can use the bitcoin debit card the same way you use any other prefunded debit card. You can spend the balance of your card for buying goods and services everywhere, online or local. If you have a plastic bitcoin debit card, you can easily withdraw cash from ATMs. The bitcoin cards are working for domestic and international purchases.
Which currencies can I use with a bitcoin debit card?
Your bitcoin debit card balance is available in bitcoins and fiat currencies (USD, EUR and GBP). Some providers also offer alternative currencies like RUB, CNY, JPY, KEW, AUD and CHF or even altcoins.
How can I order a bitcoin debit card?
First you must register at one of the providers’ platform, the registration process includes personal details such as name, date of birth and place of residency. The given information must then be verified with a proof of residence and a photo ID. After placing the order and choosing the shipping method the debit card gets delivered to your home. If you get a virtual card you will receive the card details via email. If you don’t want to share your personal information, you can order an anonymous bitcoin card. But anonymous bitcoin debit cards have a limited amount of funds you can use, unverified users are always lower compared to verified users.
How long does it take to receive a bitcoin debit card?
The plastic bitcoin debit cards are issued by VISA or Mastercard and it takes normally about 2-3 weeks to get them. The amout of time is depending on the distance between the card provider and the user. But it’s possible to get the bitcoin debit card witinh 2-5 business day for an extra charge.
How can I withdraw money from a bitcoin debit card?
You can withdraw money from your card the same way you have loaded the account. You can send your bitcoins to another address or withdraw the funds to a bank account or to an alternative provider such as Skrill or Neteller.
How much a bitcoin debit card cost?
For a plastic card you need to pay between 5-25, varying across the providers. A virtual bitcoin debit card costs much less, at some places even for free. Beside the costs for the card you need to pay a monthly account maintenance fee for 1 USD per month.
What are transaction costs associated with a bitcoin debit card?
The transaction costs are varying widely, the more expensive cards have smaller transaction fees. Loading the card is usually free, while the withdrawals are charged. Online purchases can be charged with a fixed fee or at a prorata percentage. ATM withdrawals are usually charged with 1.5-2.5% per transaction, for international withdrawals you pay more. There is also a currency translation fee if the transaction currency does not match your default currency.
What are the limits of a bitcoin debit card?
Some providers have a maximum amount of fund you can load to a bitcoin debit card. This impacts the amount of cash you can withdraw from ATMs and the amount of money you can spend with the card. Verified users have higher limits, anonymous users have a topup limit of 2000 USD.
