Update: Recently Cryptopay’s card provider ceased operation and cut ties with CryptoPay. As of 13/01/2018 we do not advise you to use this company for your Bitcoin Debit Card, instead we recommend you check out Loadoo. We have adjusted the rating of CryptoPay from 5/5 to 2/5 because of the recent issues we experienced with them.
Bridging the Gap Between Digital and Physical – Bitcoin Debit Card
For anyone joining the cryptocurrency revolution, there is the one stumbling block of just how to turn Bitcoin or similar into spendable money. However, just with litecoin or the ethereum platform, boffins out there are now utilizing the prepaid debit card market, and this is no more apparent than with Cryptopay, a Bitcoin debit card.
Quite simply, it’s a debit card that draws on the user’s preloaded Bitcoin balance. Fire over funds from the user’s wallet, and it’s available almost instantly in the same way that anyone using a standard prepaid debit card will load theirs up at a pharmacy, photocopy shop or any of the other wide ranging outlets.
Free Worldwide Delivery
The benefits of a card drawn on cryptocurrency (there are also cards featuring litecoin and ethereum compatibility) is that this method of payment, ‘as is’, is not widely accepted at a physical location. This effectively turns digital funds into real money, and once it’s loaded to the card, the exchange rate is locked in and honored. With the rates fluctuating wildly (look at the rate when it was first floated versus its current value) this frozen value is a draw in itself. Plus, Cryptopay’s Bitcoin debit card is delivered worldwide for free.
The only downside we see with this card is the incredibly high ‘express delivery’ option which begs the question of just how quick the ‘standard’ delivery is. There is also £1/$1/€1 monthly service charge in addition to the commissions charged when loading.
Physical and Virtual Format
The CyrptoPay Bitcoin Debit Card presents a fantastic bridge for anyone wishing to spend their digital currency in the real world and comes at a comparatively low price.