CoinSpot card review
- Deposit fee
- $0
- Yield rate
- N/A
Our verdict
Spend your crypto like cash. Everything you need to know about the CoinSpot prepaid Mastercard.
The CoinSpot card is beginner-friendly and easy to set up. All you need is a verified CoinSpot account that is 2FA-enabled.
Once your account is verified, you can download the mobile app, link the card to your Google Pay or Apple Pay and start spending your crypto like any other debit card.
You can top-up and manage your account on the go directly through the mobile app, so there is no need to worry about the inconvenience of transferring through non-custodial crypto wallets.
The CoinSpot card uses Apple Pay and Google Pay, so you don’t have to carry a physical card with you to access your crypto.
The biggest drawback of the CoinSpot card is the lack of rewards or incentivised spending. Some similar products offer cashback on purchases and even bonuses for making crypto purchases.
Pros
-
Pay anywhere Mastercard is accepted
-
Supports Apple Pay and Google Pay
-
Pay with 370+ cryptocurrencies
-
Manage your account via the CoinSpot app
Cons
-
Physical cards are not available
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Purchases can only be made using crypto. Direct Australian dollar payments are not accepted
Details
CoinSpot Card
| Product Name | CoinSpot Card |
| Yield rate | N/A |
| Deposit fee | $0 |
| Supported cryptocurrencies | BTC, ETH, XRP, USDC |
| Funding methods | Crypto wallet |
| Daily spending limit | $4,999 |
| Go to site More Info |
How does the CoinSpot Mastercard work?
The CoinSpot card works the same way as any regular prepaid debit card and can be used anywhere that accepts Mastercard.
The key difference is that instead of making purchases using Australian dollars, you can select from up to 5 cryptocurrencies as payment options.
When setting up the card, you will be prompted to select up to 5 preferred crypto wallets. If the account balance on your primary wallet is empty or has insufficient funds, CoinSpot will automatically attempt to withdraw funds from your second choice of wallet and so on.
Purchases made using your CoinSpot card will automatically convert your crypto into Australian dollars at the current exchange rate. These Australian dollars are instantly loaded onto your card and used to complete the transaction.
Main features
- Spend crypto like cash. Make purchases in-store and online anywhere Mastercard is accepted.
- Automatic conversions. Select up to 5 cryptocurrencies as your preferred payment methods, and your CoinSpot card will manage the conversion to Australian dollars during the payment process.
- Mobile-friendly. The CoinSpot app makes viewing your spending history and balance details easy.
- Fees. CoinSpot has zero annual fees and no cost associated with applying for a debit card.
- Apple and Google Pay. With the CoinSpot card, there's no need to worry about carrying around a physical card or forgetting your wallet. All transactions are handled directly through your mobile device.
Is the CoinSpot Mastercard safe? What are the risks?
To keep your CoinSpot card safe, take the same precautions that you would with a regular debit card. Keep your PIN and card details private and notify CoinSpot if you notice any unusual spending.
Make sure to double-check all digital transfers and only transact via the official CoinSpot app and your Apple or Google Pay wallet.
Setting up 2-factor authentication (2FA) as an additional security feature is recommended as well as face ID on mobile devices.
How does this compare to a traditional debit card?
The CoinSpot cannot be linked directly to a bank account as it is a prepaid Visa card. This means that you must top up your account manually via the CoinSpot app.
How experienced with crypto do you need to be to use the CoinSpot prepaid debit card?
CoinSpot offers a beginner-friendly way to purchase cryptocurrencies. Spending via the CoinSpot card is simple and hassle-free. Tap and pay with Apple Pay or Google Pay means you don't have to worry about decentralised finance or non-custodial wallets.
What cryptocurrencies can I use with a CoinSpot card?
Purchases made with the CoinSpot card can be made using any cryptocurrencies held in your wallet. This includes over 370 popular coins and tokens such as Bitcoin, Ethereum, Cardano and Solana.
When setting up your debit card, you will be prompted to select up to 5 cryptos as preferred payment methods. The CoinSpot card will use your number 1 selected crypto for primary payments. If the balance of this wallet is insufficient, it will automatically revert to the second crypto on your list and so on.
Where can you use the CoinSpot card?
You can use your CoinSpot card anywhere you see a PayPass logo. This includes all traditional payment vendors that accept Mastercard.
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
- No sign-up fees
- No annual fees
- 1% fee charged for buys, sells and swaps
You can find additional information about fees on our CoinSpot exchange review.
Eligibility and how to apply for a CoinSpot Mastercard
The CoinSpot card is available to all Australian customers with a verified CoinSpot account.
Setting up your CoinSpot card is simple and can be completed in just a few minutes:
- Download the CoinSpot app on your selected mobile device.
- Verify your account by completing the KYC process.
- Fund your account with Australian dollars using PayID Direct Deposit or BPAY. Alternatively, you can deposit cryptocurrencies directly into your CoinSpot wallet.
- You’re now eligible. Navigate to the accounts tab on the mobile app and set up your CoinSpot Mastercard.
- Add the CoinSpot card to your Apple or Google Pay account and you’re ready to start spending.
Alternatives to the CoinSpot card
Your reviews
Billy Finder
Cryptocurrency writer
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