Cryptocurrencies are gradually becoming a viable payment option across a range of markets and jurisdictions. If there is a tool that significantly expands the usability of digital coins in a world still dominated by traditional payment systems, it’s the crypto debit card. A growing number of reliable platforms offer the fintech product to bitcoin enthusiasts.
Established Crypto Card Providers in the U.S.
Bitpay, which processed over $1 billion in payments during a bearish 2018, offers users in all U.S. states a convenient way to spend their cryptocurrencies online and in store. Its prepaid Visa card is tied to a cryptocurrency wallet that supports instant conversion from bitcoin core (BTC) and bitcoin cash (BCH) to U.S. dollars and local fiat currencies outside the country.
Bitpay’s crypto card is available to U.S. residents only. To apply, it is necessary to provide a home address, a valid government-issued ID and social security number. There’s a fee of $9.95 that covers the cost of issuing and a dormancy fee of $5 a month following a 90-day period of inactivity. A currency conversion fee of 3 percent is applied each time the card is used outside the U.S. Withdrawing cash at an ATM costs $2 in the United States and $3 abroad.
Shift, another card available in the U.S., allows users to connect to their Coinbase accounts. The Visa card has no maintenance fee but a 3 percent commission is charged on international transactions. ATM withdrawals cost $2.50 in the United States and $3.50 in other jurisdictions.