BitPay card review
- Deposit fee
- 1%
- Withdrawal Fee
- $2.50
- Yield rate
- N/A
Summary
Spend your crypto like cash. Let’s take a look at the BitPay crypto debit card.
The BitPay card makes it easy for those new to crypto to get involved. It’s simple to top up your card from the BitPay wallet app or your Coinbase account. Once topped up, you’re ready to start spending crypto and earning rewards.
BitPay card supports Apple Pay and Google Pay, so you don’t need to worry about forgetting your wallet.
The major drawback of the BitPay card is its limited geographic availability. While it is currently unavailable to Australian customers, you can join a waitlist on the BitPay website.
Details
BitPay Card
| Product Name | BitPay Card |
| Yield rate | N/A |
| Deposit fee | 1% |
| Supported cryptocurrencies | BTC, ETH, LTC, DAI, DOGE, USDC |
| Withdrawal Fee | $2.50 |
| Funding methods | Bank transfer |
| Inactivity fee | $5 |
| More Info |
Eligibility and how to apply for a BitPay card
You can apply for a BitPay card by following a few simple steps:
- Download the BitPay app
- Provide proof of identity documentation
- Load with crypto, spend with dollars
- Earn cash-back rewards
The BitPay card is currently unavailable to Australian customers. However, the company plans to make its crypto debit card globally available. You can join a waitlist on the BitPay website.
How does BitPay crypto card work?
The BitPay card works like a regular debit card, allowing you to transact at all traditional payment vendors. However, instead of spending from your bank account, you can add funds from the BitPay wallet app or your Coinbase account.
Purchases made using your BitPay card will automatically convert a selected cryptocurrency to fiat at the current exchange rate.
Main benefits of the BitPay card
- Spend crypto like cash. Make purchases in-store and online anywhere Mastercard is accepted.
- Automatic conversions. Select which cryptocurrency you would like to spend and your BitPay card manages the currency conversion during the payment process.
- Mobile-friendly. The BitPay app makes viewing your spending history and balance details easy.
- Card options. Choose between a physical or virtual card. Connections to Apple Pay and Google Pay are also supported.
- Cash back. Earn cash-back rewards at over 100,000 participating merchants.
Main drawbacks of the BitPay card
- Currency conversion. BitPay charges a 3% conversion fee on all international purchases.
- Spending limits. The maximum daily spending limit is US$10,000.
- Load limits. The maximum daily load limit is US$10,000.
- Withdrawal limits. Maximum 3 ATM withdrawals per day, capped at US$2,000 per withdrawal. BitPay charges a fee of $2.50 for all ATM withdrawals.
How does this compare to a traditional debit card?
The BitPay card is a prepaid debit card. Unlike traditional debit cards, prepaid cards cannot be directly linked to a bank account and must be manually topped up. Top-ups can be funded via your preferred wallet within the BitPay app.
How experienced with crypto do you need to be to use BitPay’s prepaid debit card?
BitPay offers customers a beginner-friendly app. It’s a simple way to purchase cryptocurrencies without worrying about more advanced areas such as decentralised finance or non-custodial wallets.
What cryptocurrencies can I use with a BitPay card?
BitPay allows you to spend using a range of popular cryptocurrencies, including:
- Bitcoin
- Ethereum
- Dogecoin
- Litecoin
- Dai
- USD coin
Is the BitPay prepaid debit card safe? What are the risks?
Holding cryptocurrency of any kind has associated risks due to its volatile nature and regulatory concerns in some countries. However, keeping your BitPay card safe is much the same as a traditional debit card:
- Keep your card secure
- Never share your PIN
- Beware of phishing and financial scams
- Notify the BitPay support team if you have concerns or notice unusual spending
The BitPay card features advanced security measures, including EVM chip options and card-locking abilities.
Where can you use a BitPay card?
You can use your BitPay card anywhere Mastercard is accepted. You can even use it to withdraw money from an ATM.
Remember that some subscription-based platforms require that a credit card be held on file and will not accept payments from prepaid debit cards.
Fees and exchange rates
- Free card issuance
- $10 card replacement fee
- 3% foreign transaction fee
- $2.5 ATM withdrawal fee
- Inactivity fee: $5 per month after 90 days
- No monthly fees
Alternatives to BitPay
Your reviews
Billy Finder
Cryptocurrency writer
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