Virtual Bitcoin Debit Cards
The virtual bitcoin debit cards offer all the benefits of plastic debit cards, without disadvatage a physical card can mean: loss, demage and long waiting time for the production. These virtual cards works just like any other prepaid debit cards, the amount of money on the card can be used at shops to purchase goods and services online.
Ordering the card
In order to obtain a virtual bitcoin debit cards, users need to verify their identity in most cases with an ID card and a bill showing their residental address. However there are also anonymous cards available on the market, where the only information that should be given is just the name that will be displayed on the cards.
The virtual bitcoin debit cards are much cheaper compared to the plastic cards. As there is no production cost, there are even card providers on the market which do not charge anything at all for issuing a new card. Otherwise virtual bitcoin debit cards cost a one time fee in a range of 1 USD to 5 USD.
As there is no such thing as physical production in terms of a virtual bitcoin debit cards, the issuance of the cards are instantaneous. Once the registration have been completed, the virtual card is sent directly to the user. The cards have a card holder name, an expiration date and a CVV/CVC code on the back of the card just like any other plastic debit card. With these informations the users can activate and start using the card right away online.
Using the card
The virtual debit cards are issued by VISA or Mastercard, therefore they are accepted at online stores and shops worldwide. There is no difference in providing the deatils of an ordinary plastic card or a virtual card upon checkout at the shops.
The virtual bitcoin debit cards by nature cannot be used to withdraw money from ATMs. Since no physical card is produced, there is no way to have a transaction at a shop which accepts debit cards or ATMs to receive cash. Most of the card providers developped apps for mobile devices, so the cards can be still used on the go from Android or iOS phones.
There are certain limits applicable for using the virtual bitcoin debit cards. The total turnover of the card is limited to 500 USD to 10000 USD and depends on the card provider. The spendings are charged on the card, especially if the currency is different compared to the default currency of the card.
Pros and Cons
The virtual bitcoin debit cards are a perfect solution for those who want so spend bitcoins and their money online. The cards have all the benefits a plastic card can have and accepted by the retailers online who accept VISA or Mastercard as payment method. The one time issuance fees are reasonable cheaper compare to the fees charges for plastic cards. There is no such thing as delivery time, the cards can be used right away after order.
However the virtual bitcoin debit cards have their own disadvantages which mainly comes form the nature of the cards. Since there is no physical card, these cannot be used to pay at local shops or to withdraw cash from ATMs.