![]() “This program termination means that all Bitpay prepaid Visa cards will expire and stop working on December 31, 2020, regardless of the expiration date printed on your card,” the firm explains. Unfortunately, the company’s Visa prepaid Bitpay card services will end on December 31, 2020. On Thursday, Bitpay revealed the company has partnered with Mastercard (MC) and the new product is the “first prepaid card in the U.S. The Atlanta-based company says the card can be spent anywhere Mastercard is accepted and users can “instantly convert cryptocurrency into fiat currency.”įor quite some time now, the Atlanta-based Bitpay has offered a prepaid Visa card that allows users to load cryptocurrencies in exchange for USD. Images via Bitpay’s Twitter page, and Jamie Redman.On June 11, 2020, the cryptocurrency payment services provider, Bitpay announced the firm is launching a prepaid Mastercard that can be loaded with a variety of digital assets. ![]() What do you think about the Bitpay card? What kind of bitcoin-debit card have you used? Let us know about your experiences in the comments below. I will definitely be using my new Bitpay card from time to time as it does add a nice level of convenience. ATM fees are $2, ACH transfers are $5, and there’s a charge of $5 if you don’t use the card for 90 days. Fees are explained throughout the whole process and are relatively inexpensive and can be avoided. Purchases were simple and after every one I had visible access to these transactions on my account page. It definitely uses immediate fiat conversion which is a downside, but basically allows for easy bitcoin sales with a personal debit card in real-time. Overall using the Bitpay debit card was pleasant and simple. Transaction activity page records bitcoin top ups and every POS transaction With money on my Bitpay card, I traveled to the nearest convenience store to make a purchase. Such amounts are probably not secure enough tied to such cards. Users can load $10,000 per day and up to $25,000 can be held on the Bitpay Visa. This is different than using Coinbase’s Shift card which deducts bitcoin spends based on the spot price as merchant transactions are processed. As soon as the funds are loaded, the USD amount never changes. One should note that bitcoin transactions sent to the Bitpay card are basically sales and you receive the funds in USD at the current BTC spot price. Simple to Use, but Basically a Conversion Tool When it did, my card was loaded with funds. It must have been a busy day because I had to wait for my transaction to confirm. Immediately the invoice is marked as received, but funds are not accessible until the transaction receives one confirmation. Like any Bitpay invoice you have 15 minutes to pay and I scanned the address with my phone’s wallet, thereby paying the amount. I decided how much I wanted to add to the card and entered the amount, which then processes a new Bitpay invoice. There is a button that says “add funds, of” and you type in how much money you want to load in USD. The account page is where you load bitcoins onto the card. Bitpay Visa Card activation page Reloading bitcoin in USD amounts As soon as the information is processed, you now have access to an account page. The page asks for the credit card number, three-digit CVV, and your email. After getting my card and reviewing the fees, I went to the Bitpay Visa card activation page. The PIN is used like a traditional debit purchase and also for ATM access. After registration, I paid for the card with a Bitpay invoice and was told I would receive the card in 7-10 business days.įive days later I had received my card, including a PIN and references to card fees. Other than those requests nothing more was required from me for identity. Registration required my social security number, email, and current mailing address. There wasn’t much to fill out for verification purposes. The card cost me $9.99, and you have to pay for the product in bitcoin. Just recently I ordered the Bitpay bitcoin Visa card, available to U.S. We hope to explain in detail how this loadable card works so our readers can get an idea of what it’s like to utilize these types of cards.Īlso read: Ledger Nano S Review: Can This $65 Device Top Trezor? The Bitpay Visa Debit Card Cards enable a user to load the account with bitcoin reserves and spend the funds where major credit cards are accepted.ī decided to review the popular bitcoin debit card currently available to U.S. Bitcoin debit cards have become more popular over the past two years with various choices on the table for consumers to choose from.
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