Advcash is a multifunctional payment hub and electronic wallet platform. This is a Bitcoin supporting platform so in case you need to convert another cryptocurrency, you will have to convert it into Bitcoin first. The Advcash card also works with several fiat currencies: USD, EUR, GBP, and RUB.
About the Platform
Advcash stands for Advanced Cash. This is a daughter company to Wave Crest Holdings Limited. Wave Crest Limited is a well-known company in the Bitcoin debit card space and is the company that most card companies worked with to partner with Visa. In 2018, the Wave Crest partnership with Visa ended and this left a huge gap in the market. That is why the card provided by Advcash is not a Visa but a MasterCard.
Advcash aims to bring freelancers and other digital professionals on board so that these workers can receive their payments quickly and at a low cost.
Advanced Cash is headquartered in Belize City, Belize District, and the current CEO is Yaacov Bitton.
Bitton and his team are working to ensure that theirs becomes a faster and cheaper to use platform compared not only to traditional banks but also other crypto platforms. This is why Advcash partnered with BitPay to be able to scale up and meet their customer’s needs. This ensures that there are smooth transactions backed by state of the art technology and support service.
Advcash uses Bitcoin as the main account funding method. The wallet users can get cards, virtual or plastic and use Bitcoin to fund their accounts and send funds instantly to their cards. So Bitcoin is easily converted into fiat balances and can be spent or withdrawn anywhere the MasterCard is accepted.
According to the CEO, it is a joy to be able to offer customers what they truly desire, speedy, easy and affordable transactions.
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Advcash offers solutions to payroll issues that most freelancers face. Freelancers can have their payments channeled through the e-wallet and withdrawn using the Advcash card. This prepaid card is readily accepted in merchant shops and ATMs where Visa and MasterCard are accepted. Money can be withdrawn in four forms namely, dollars, Euros, rubbles and the Sterling Pound.
You can run an account with Advcash as a verified or non-verified user. A non-verified user can only withdraw a maximum of $500 daily and $2500 in a month. Verified users get to withdraw a maximum of $3000 daily and if they are shopping online, they can spend up to $10,000 daily.
Advcash is a freelancer’s payroll platform and it is because of that they have several payment options to ensure that freelancers get paid always and on time. The physical card goes for $5 if it is bought immediately after an account is set up. If you order for the card one week after setting up an account then you will have to pay $15 for it. The virtual card is really cheap and goes for $1. Using the card online or offline is free but every time you are adding funds to your wallet then you will have to pay $1. Domestic ATM withdrawals are charged at $2 while foreign transactions and exchanges are charged at a rate of 2.95% and there is no monthly service fee.
Fees charged by Advcash
|Monthly service charge||$0|
|Annual service charge||$0|
|Purchases||Free in US/EUR|
The Advcash website is well designed and has good aesthetics. You are able to see the currencies that are supported. So what happens afterwards? Are users happy with the services they get? Users admire the quality of services provided and are grateful but one thing that they cannot contain is the poor customer support service. There is also a complaint about the slow verification process. Well, if the Advcash team works on these little details then they can as well become the best crypto-based payment platform.
Advcash is one of the most popular payment solutions platforms. There is the flexibility of fund transfers. The security features are reliable and safe. The only issue is the customer support but that is a minor issue that can be solved so that customers get an all-round experience.
- Free internal transfers
- Free top up when using SWIFT and SEPA
- Zero monthly service fee
- High limits for verified users
- Card only comes with e-wallet and not a mobile application
- The owners are not known so it directly impacts the credibility of the company
- US customers are not served
- No monthly fees
- Free top up using SWFT
- Owners are not known
- US customers not served