What is a cryptocurrency card?
A cryptocurrency card is a VISA, Mastercard, or other major credit card provider that allows you to purchase anything you want from a merchant. However, instead of using goverment issue currencies like USD, GBP, or CAD you instead use cryptocurrency like BTC, ETH, or XRP. Crypto cards make it easy for the card holder to access or spend cryptocurrency funds anywhere in the world. You usually use these cards to withdraw cash at ATMs as well.
What types of cryptocurrency cards exists?
Cryptocurrency cards look like a regular VISA or Mastercard. They come in either plastic or virtual forms. Virtual crypto cards are issued online and are quicker to get then having a plastic card mailed to you. Cryptocurrency cards usually require the cardholder name and some other personal details. The cards usually have a date of expiry and the CVC/CVV.
How can I use a cryptocurrency debit card?
Cryptocurrency debit cards are not credit cards. They are pre-funded with cryptocurrencies like Bitcoin, Litecoin, Ethereum, or others. When you spend, the balance on the card decreases to cover the items you purchase. You can withdraw cash from ATMs or swipe the card at a point of sale machine with a merchant. Most cards are able to make purchases both domestically and internationally.
What are the currencies I can use a Cryptocurrency Card with?
Cryptocurrency Cards hold the available funds in either fiat currencies like USD, EUR, and GBP or enable you to convert on the fly. These cards usually convert based on the local FIAT currency where the merchant is located. Some providers open the Cryptocurrency Card markets to other currencies as well. Others offer Cryptocurrency Cards with default currency in RUB, CNY, JPY, KRW, AUD and CHF.
How can I order a Cryptocurrency Card?
First use our website to select the card that best fits your needs – then register on that users site. In most cases you will need to supply personal information such as name, address, and personal identifier numbers. It may also need to be verified with a photo ID and a proof of residence. This can be a bill containing your address. Chose the shipping method for your cards and they will be mailed to you. If you select a virtual card, the card details are sent to your email address. If you do not want to share personal information, you can order an anonymous Cryptocurrency Card without verification.
Can I have a Cryptocurrency Card without verification?
Yes. Anonymous Cryptocurrency Cards are available at couple of providers on the market. If you do not want to go through the verification process of providing photo ID and proof of residence, you can choose an anonymous Cryptocurrency Card. In this case however it worth noting that the limits applicable for unverified users are always lower compared to verified users. Therefore only a limited amount of funds can be used with the anonymous Cryptocurrency Cards.
How long does it take to receive a Cryptocurrency Card?
Cryptocurrency Cards are issued by VISA or Mastercard and can take 2-3 weeks to be received. The amount of time to get the card depends on the distance between you and the card provider. Express delivery can be selected at most providers for an extra fee. With express delivery cards can delivered within 2-5 business days with the services provided by DHL along with a tracking number.
How can I fund a Cryptocurrency Card?
Funding the Cryptocurrency Card happens in multiple ways. The most common is depositing cryptocurrency into your card. You can also use bank wire transfer, credit or debit cards and alternative payment providers.
How can I withdraw money from a Cryptocurrency Card?
You can withdraw money from a Cryptocurrency Card the same way you funded it. You can send bitcoin, litecoin, or other altcoins to your personal wallet address. You can also withdraw the funds to a bank account or to an alternative payment provider.
Can I withdraw money from ATMs with a Cryptocurrency Card?
Yes. You can withdraw money from ATMs as long as the ATM supports Visa, Mastecard, or the card provider.
How much a Cryptocurrency Card cost?
Prices of Cryptocurrency Cards vary by provider. One time issuance cost of a plastic Cryptocurrency Card is between 5-25 USD. Issuance cost on the virtual Cryptocurrency Card is much less. You could even get it for free at some providers. In addition to the one time production cost, a monthly account maintenance fee is sometimes charged.
What are transaction costs associated with a Cryptocurrency Card?
The transaction costs of the Cryptocurrency Cards vary. More expensive cards can have smaller transaction fees. Loading the card can have fees of 1-2%, while the withdrawals are charged based on the type you choose. The merchant can also be charged a fee to accept the card. ATM withdrawals are charged between 1-3% per transaction and international withdrawals costs more then domestic. There is also foreign exchange fees charged if the default currency does not match the transaction currency.
What are the limits of a Cryptocurrency Card?
Sometimes there is maximum amount of funds you can load to a Cryptocurrency Card. Verified users usually have higher limits and also some providers offers unlimited Cryptocurrency Card for registered users. Anonymous cars are typically maxed at $2,000.
What are the ATM withdrawal fees associated with a Cryptocurrency Card?
Cryptocurrency Card providers charges fees when withdrawing cash at ATMs. This fee can be charged per transaction. The domestic ATM withdrawals usually cost around 1.5%, while the international ATM withdrawals are charged at 2.5%.
What is the foreign exchange fee associated with Cryptocurrency Card transactions?
Foreign exchange fee is charged in case the default currency of the account associated with the Cryptocurrency Card is different from the currency of the transaction. In this case a fixed 3% currency translation fee is charged by all of the providers on the market.