Plastic Bitcoin Debit Cards
The plastic bitcoin debit cards can be a very useful tool for those who would like to have access to their bitcoins in an easy way. The card works just like any other prepaid debit card, users can use the balance to pay at shops, purchase online or withdraw money from ATMs.
Ordering the card
The plastic bitcoin debit cards are available at many bitcoin debit card providers. In order to receive a card a one time issuance fee is charged to the users beside the monthly account maintence fee. This one time fee vary from 5 USD to 20 USD.
During the resigration process the card providers ask for personal details to verify the identity of their users. However anonymous cards are also available, in which case only a name should be given that will be displayed in the card. Couple of bitcoin debit card provider offers company cards as well to be able to distinct the spending of the business from the personal ones even for those who wish to conduct their finances through bitcoin.
Users can choose from two types of delivery methods: express and standard. The standard shipping costs are usually embedded in the price of the card and it takes about 2-3 weeks to arrive, depending on the location of the order and the country of the card issuer. Express shipping with tracking number can be requested at every bitcoin debit card provider for an extra fee. In most cases companies use DHL service to deliver the cards to the clients, the plastic bitcoin debit cards using this method can be obtained within couple of days after the order.
Using the card
The plastic bitcoin debit cards are issued by VISA or Mastercard thus these are accepted at any shops or online retailer where these logos are displayed. The plastic cards also have the option to withdraw cash from ATMs worldwide. Just like any other plastic debit card, the bitcoin debit cards have a name, an expiration date and a CVV/CVC code on the back of the card.
The plastic cards can be funded by other cards or directly by the wallet of the card provider. The top ups using the preferred methods of the company are free of charges, however bank wire transfers usually cost more than using alternative payment providers such as OkPay, Neteller or Skrill.
There are certain limits applicable for the plastic bitcoin debit cards. These limits are different based on the level of verification – unverified users usually have access to lower amount of funds. The daily limits vary from 500 USD to 10000 USD, while there are also cards with unlimited balance available on the market for a higher annual fee.
The turnover of the cards are charged depending on the transaction type, domestic card usage from 0.5% while international spendings from 1.5%. A currency translation fee is applied in case the amount spent is in a different currency compared to card’s default currency.
Pros and Cons
The plastic bitcoin debit cards are a great choice for those who would like have a quick any easy access to their bitcoins anywhere and anytime. The cards work just like a normal debit card and are accepted at any shops and online store where VISA or Mastercard is accepted.
The disadvantage of the plastic cards can be that in most cases personal verification is required to get the cards. Also an extra fee is applied for the production of the card which can vary a lot among the card providers. The shipping can be even a month in case no extra fee is paid for express delivery.