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Bitcoin Debit and Credit Cards

Bitcoin Debit and Credit Cards explained – the power of anonymity.

What is a Bitcoin Debit Card

Bitcoin Debit Cards are prepaid payment cards, also known as ‘bank card’ or ‘check card’, which can be used to pay a merchant (for example in a restaurant or the locals shop), get money out of an ATM or use it online for example in PayPal.

The prepaid sum is the amount of Bitcoin you have prepaid the BTC debit card provider, exchanged in fiat currency (USD, EUR, GBP etc.) you will be able to use on your debit card.

Simplified: You move money from a bitcoin wallet over an exchange to a normal financial account. But why do this?

Why use a BTC Debit Card?

Since there are many, many shops in the real and in the virtual world, which do not accept Bitcoins, you need a fiat currency card. And exactly this is your Bitcoin prepaid debit card! Now you can shop from pretty much everywhere!

If you are interested in learning what to buy with bitcoin, then read the article linked.

What is the difference between Bitcoin Debit and Credit Cards?

The contrast between a bitcoin debit and a credit card is, that in a debit card you need to prepay an amount. On the other hand, a Bitcoin Credit Card can be overcharged, meaning that one can get more money out of it than he owns.

Debit Cards are linked to your account, so you can not spend more than you possess. No money is borrowed.

Credit Card companies offer you a loan, which needs to be repaid with interest if not covered at the end of the month.

Bitcoin Credit Card

There is no such thing as a Credit Card in the Bitcoin world – at least currently known to us. If you find one, then you can contact us and we will update this article!

Also, if someone offers a bitcoin credit card, then alarm bells should ring, since the possibility of one is very, very slim.

Bitcoin Debit Cards Provide Leverage

Recent Bitcoin prices should give you a good idea of just how popular the World’s leading cryptocurrency is right now. With prices surging up and over the $5,000 mark recently, the demand for ways to spend Bitcoin have increased significantly. The long term needs for easy-to-access methods for spending Bitcoin are only going to increase, most likely sooner rather than later. Bitcoin debit cards allow you to spend the Bitcoin in your wallet account directly at any merchant who accepts visa debit cards. The Bitcoin debit cards simply exchange the Bitcoin you have, sending it to the merchant in their local currency. All automatically, all fast and all very simply. All you have to do is figure out which Bitcoin debit card to get and then what to go spend all those Bitcoins on.

K.I.S.S. – “Keep It Simple, Stupid!”

In the early days of Bitcoin, this was a major stumbling block for most people, and the reason why Bitcoin had some trouble gaining a foothold among the mainstream populaces. Non-technically inclined individuals had no way to spend Bitcoin. For many, this was the catalyst that steered them away from Bitcoin, as well as cryptocurrency as a whole, and kept them away. As history has proven to us, time and time again, people want things that are simple, easy and cause them very little thought process. Convenience, over any other factor, is what drives the motivations of society as a whole. It did not matter how wonderful decentralization is, that Bitcoin provided for globalization, or anything else that Bitcoin made possible. It was not convenient because leveraging the value of Bitcoin was not simple, easy and thought free.

Separating the Weak from the Strong

Bitcoin debit cards have provided a solution to the convenience problem, opening the door for the masses to finally take interest. Although, Bitcoin debit cards are i their infancy, in comparison to the rest of the financial world, they are maturing quite rapidly. All of the “new-tech” bugs and hurdles have largely been overcome. As they emerge through the fog, into a global market that is hungry for Bitcoin leveraging power, only the strongest Bitcoin debit cards will survive. Now that the leveraging power of bitcoin has been made available, it is time to see which bitcoin debit card companies are the strongest and most reliable.
In order to deliver the best possible information on Bitcoin debit cards, a list of the 14 strongest Bitcoin debit cards has been put together. Not only has the information been gathered on where to get a Bitcoin debit card, but a side by side comparison, breaking down the deals that matter the most, has been included, as well. Everything from fees, limits and usage restrictions, all the way to every nation and currency the Bitcoin debit card supports. You will soon see why leveraging Bitcoin is now just as easy as, well, swiping your debit card.

Best Bitcoin Debit Cards

Everything you need to know about the different bitcoin debit card issuers can be read below.

CryptoPay Bitcoin Debit Card

Maybe you are not really surprised, shocked or even remotely bewildered. If the review about CoinsBank was copied and pasted here, changing only the name, it would fit perfectly. CryptoPay has emerged as the next greatest thing, and looking at the features they offer, it is no wonder why. Giving the user the ability to hold 8 different Bitcoin debit cards, in 4 different base currencies with a virtual card to match, is by far the most leveraging power that is able to be had currently. Plus, the choice between Pin or chip is up to the user.
CryptoPay is the only bitcoin debit card provider to offer the very first Contactless Bitcoin Debit Card and they are giving it away to everyone for free until 16 September 2017! With the Contactless Bitcoin Debit Card, just go to the register and tap the card to the terminal receiver, just as you would with your mobile phone using Android, Apple or Googles payment services. Simply verify your information and get it free.
This has given CryptoPay the edge in the industry as far as new and emerging technologies go. They also, like CoinsBank, do not have a single ‘No’ entered in their column on the side by side comparison. They offer everything they possibly can to their customers and do it well.

Total Cost to Obtain a CryptoPay Bitcoin Debit Card: Universe card (EU Residents): $15.00

The Good

Highest ATM Limits, Highest Daily Deposit Limits, Lowest all-around fees

The Not So Good

Low Daily ATM transaction limits

CoinsBank Bitcoin Debit Card

In at #2 is CoinsBank. Most of you are in awe that they are not number one on this list. Everyone who is in the know, thought for sure CoinsBank would be the number one provider of a Bitcoin debit card. They are only in second place because there cannot be two first place companies.
CoinsBank is a superb example of how business should be done: with the customer’s needs and wants coming first. At every turn, Coins bank has been there to solve a consumer issue, develop a solution that customers need and most of all, to provide support and resources to help a young community learn how to utilize and get the most out of each and every Satoshi they receive. Looking at the side by sid comparison (use links below), you can see exactly why they are at the top end of this list. ‘No’ is not listed once in their column.
A great company, great features and perfect track record have given them the reputation that they have today and the right to be considered one of the best bitcoin debit card companies in the market. They offer 4 choices of cards that you can utilize all at the same time. The number one spot offers 8. That is the only reason CoinsBank is at number 2.

Total Cost to Obtain a CoinsBank Bitcoin Debit Card: Universe card (EU Residents): $14.95

The Good

Instantly convert fiat to bitcoin and back again, Mobile app, cashback on everyday purchases

The Not So Good

Max of 2 ATM transactions per day, High ATM fees, Limited to European users Only

WageCan Bitcoin Debit Card

When you look at the side by side comparison, there are two separate entries for WageCan. This is because they now offer the universe card solely to Europeans that are verified and then the Gold card, which is available to the rest of the world and intended mainly for Americans. The reason it is listed this way is because the cards are so different.
While the Gold card for Americans is extremely expensive at $180.00, it is by far the most versatile bitcoin debit card in the industry. No other bitcoin debit card can come close to limit allowances offered on WageCan’s gold option. Across the board, bitcoin debit card holders are limited to either 2 or 5 ATM transactions in a single day, with the Gold card, there is no limit. There are no maximum daily limits on purchases, a $1,000 ATM transaction limit (Higher than any ATM machine allows in the United States), and an unbelievable ATM daily limit of $2,500.00 (Wells Fargo only allows $600.00 per day!). However, the fees are crazy high for everything.
The one thing that can be said about WageCan is that they care about their customers. When the bank pulled backing for non-Eu residents, they did not just say, “Sorry, bye, bye.” They went out and found a solution. An entirely outrageous solution that probably would never have worked if they would have offered it initially, but because they went out and got this financial instrument, within days of losing the current option, they showed the world just how dedicated they were to be providing a solution for everyone. For that reason alone, they have earned the respect and reputation for being a Bitcoin debit card company you can trust and count on.
Gold Bitcoin debit card 20% discount coupon code: QxCuNESV (valid as of 6 September 2017)

Total Cost to Obtain a WageCan Bitcoin Debit Card: Universe card (EU Residents): $15.40 / Gold card (US Residents): $180.00

The Good

Free bitcoin debit card when you join, multiple currencies, daily incentive bonuses

The Not So Good

Universe card Support for Non-European residents ends in October, Gold card replacement is $180, extremely high card replacement fees

Wirex Bitcoin Debit Card

Wirex offers a wide variety of bitcoin debit cards, a well as accounts in fiat that users can activate. Users are able to open up a virtual and order a physical debit card in every currency available. They are also integrated with Shapeshift, giving users the power of spending altcoins, on top of Bitcoin with their Wirex account.
U.S. residents are currently not allowed to become a Wirex user, except exclusively as a Bitcoin wallet. Other users can utilize the full services, with limits without becoming verified. The verification process is one of the simplest in the industry and can be done quickly. Currently, while planned for the near future, bank transfers and credit card deposits are not available. This leaves Bitcoin as the only way to get money into your Wirex account and onto your Bitcoin debit card. Your wallet, within your account, allows you to have anyone send you bitcoin, which you can then convert instantly into USD, GBP or EUR and withdraw that from a local AYM machine.
The physical cards can be ordered for a mid-ranged price, in comparison to the other companies on this list. Wirex, while still a newer company in the realm of Bitcoin debit cards, is off to a great start and you can look for good things from this young Bitcoin company in the near future.

Total Cost to Obtain a Wirex Bitcoin Debit Card: $15.00 (average)

The Good

Instant basic account with virtual card, wallet, Payment card, transfer service all in one, Buy bitcoins with fiat

The Not So Good

No U.S. Residents, very low limits without verification, not a lot of features

Xapo Bitcoin Debit Card

Xapo is one of the most famous Bitcoin wallet services, known for their outstanding security that comes with their Vault technology that they offer free to everyone. They also have one of the heaviest hitting company advisor teams that could ever be compiled in one place for financial insights. This team, comprised of Lawrence H. Summers (Bill Clinton’s Secretary of the Treasury), Dee Hock (Founder of Visa) and John Reed (Former Chairman & CEO of Citibank, will pretty much take care of any doubts you may have about Xapo being legitimate and an industry leader.
The Xapo Bitcoin debit card does come with a set of very strict U.S. laws and regulations that are strictly adhered to, with no exceptions. This, however, is not bad when you consider the additional security you are getting with Xapo. The fact they offer a basic, no verification account at all, let alone with a $2,500 spending limit is amazing, to say the least. Another sign that they are the heavy hitters they are portrayed to be within the Bitcoin realm.
Innovators, Security Gods and consumer friendly, Xapo’s bitcoin debit card is a great choice for leveraging your Bitcoin value.

Total Cost to Obtain a Bitnovo Bitcoin Debit Card: $20.00

The Good

Best Bitcoin Storage Security ever, Allstar Advising team, It’s Xapo

The Not So Good

Wait time for Bitcoin debit card to arrive, High fee for ordering cards, Requires mobile phone verification and cannot use VOIP numbers

Bitnovo Bitcoin Debit Card

Bitnovo offers a Bitcoin debit card that is much in line with the other card providers throughout Europe. They do have a tendency to be on the higher end of fees and other expenses associated with the Bitcoin debit card they offer, but they also have less stringent requirements when it comes to verification.
The website can be a little confusing since it was written in Spanish (unless you speak fluent Spanish, of course), but Google does its best to translate it if you use Chrome or the extension for your browser of choice. They do allow deposits to be made by credit card, as well as PAGO Seguro and bank transfers (Both SWIFT and SEPA) and also offer actual, physical Bitcoin ATM machines for merchants to put in their stores. These ATM machines allow for the withdrawal of cash in the local currency using Bitcoin available on the user’s wallet account. It also will allow payments to be made to mobile phone companies, Amazon, Xbox, PlayStation, Steam, World of Warcraft, national lotteries and technical services. Currently they only have these bitcoin ATM machines available at three locations; all in Spain, but plan on rolling more out in the near future.
Bitnovo also offers vouchers for Bitcoin deposits and the creation of instant virtual Bitcoin debit cards. This gives users instant leverage in a market that has been thirsty for it for a very long time.

Total Cost to Obtain a Bitnovo Bitcoin Debit Card: 20.00 €

The Good

Instantly exchange Euros to Bitcoin, verification not required for basic account, Physical ad virtual cards both allowed on 1 account

The Not So Good

Low ATM usage limits, expensive bitcoin debit card purchase price, highest monthly fee in the industry

Uquid Bitcoin Debit Card

Uquid provides a Bitcoin debit card that is actually more than a Bitcoin debit card. With Uquid, you have the ability to utilize 90 different altcoins, plus USD, GBP and EUR. That means instant conversion between them all, directly through Uquid and without any heavy fees. You can also have both a physical chip Bitcoin debit card and a virtual Bitcoin debit card active and in use on one account.
Uquid never charges a deposit fee, offers industry standard Free transactions with online and physical stores, are on the low end of the ATM fee spectrum and allow you to convert from USD, GBP or EUR to the altcoin of your choosing or, of course, Bitcoin. They offer a feature rich use account, as well as mobile apps for both iOS and Android users. They also have direct mobile phone top-ups available from 600+ operators in 150 countries worldwide, making refueling your airtime a breeze.
Depending on where you live, Uquid offers even more, in the term of leveraging Bitcoin or other altcoins using your Bitcoin debit card. In Indonesia, you can pay your electricity bill. Grocery vouchers can be bought for El Salvadorians. Guatemalans van utilize it for pharmacy needs, Cubans can refuel their wi-fi, in Nicaragua, your bitcoin debit card can pay for transportation services offered there. Plus, TV in India and the Dominican Republic. That is just a sampling of the services and countries they list, along with a promise from Uquid that more services and countries are added all the time.
Uquid and their Bitcoin debit card are opening the door for one-stop cryptocurrency financial instruments and it will be exciting to watch as they help to innovate and bring this technology to the world.

Total Cost to Obtain a Uquid Bitcoin Debit Card: $16.99

The Good

Virtual Bitcoin debit card available, Instant currency converting, Accepts multiple 3rd party wallets

The Not So Good

No credit card deposits, No mobile app, Only 1 card per user allowed

SpectroCoin Bitcoin Debit Card

SpectroCoin is a London based Bitcoin debit card that has been in operation since 2013. They not only offer consumers with a Bitcoin debit card, but also offer merchant solutions, allowing both online and physically located store owner to accept Bitcoin. There fees are a bit on the high end when compared to the other Bitcoin debit card providers, but overall, their service more than justifies the difference in pricing.
Besides Bitcoin, SpectroCoin also supports Ethereum and DASH, making it possible to leverage their value, as well as Bitcoin’s. It also allows for users to instantly convert between all three cryptocurrencies and just about any fiat currency you can think of. The Bitcoin debit card can be backed and available to you in one of three choices: United States Dollar(USD), Euros(EUR) or British Pounds(GBP).
Residents from the United States are able to utilize the full functionality that SpectroCoin offers, which is rare in the Bitcoin Debit card realm, giving it both a boost in favor, as well as reputation since SpectroCoin has met the very strict U.S. legal requirements to offer their financial instruments to American citizens.
SpectroCoin delivers a solid product that functions the way you expect to, and maybe even better, considering you re swiping your Bitcoin balance, while purchasing in one of 30+ different currencies.

Total Cost to Obtain a Bitwala Bitcoin Debit Card: $9.00

The Good

Virtual Bitcoin debit card available, Instant currency converting, Accepts multiple 3rd party wallets

The Not So Good

No credit card deposits, No mobile app, Only 1 card per user allowed

Bitwala Bitcoin Debit Card

Bitwala Bitcoin debit card is a 5-time award winning company that has 110+ reviews, with a 9-star rating on TrustPilot.
While, Bitwala only has a total of 12 employees, they offer services to customers in over 120 countries worldwide. They have some of the lowest Bitcoin debit card fees all-around, with the card itself only costing 8.00 €. The customer support is the reason behind the awards and highly rated TrustPilot score, and that is only if you need them.
Bitwala Bitcoin debit card offers its users the ability to send money, in 20+ local currencies to over 200 nations in only 1 business day. This turn-around time is unheard of in any financial sector, yet they continue to deliver on that promise without any problems. They are a partner of BitPay, as well as BitGo, Shapeshift and Trezor Bitcoin Safe, all of which are great names to be able to claim affiliation with.
Based out of Berlin, Bitwala bitcoin debit card has 12 staff members, from 9 different nations who work around the clock to ensure the satisfaction of their customers. They are truly a winner within the Bitcoin debit card sphere.

Total Cost to Obtain a Bitwala Bitcoin Debit Card: 8.00 €

The Good

Instant currency conversion, Virtual Bitcoin debit cards, allows 3rd party wallet deposit/withdrawal

The Not So Good

Limited ATM usage, Cannot deposit by credit card, Only 1 card allowed per account

BitPay Bitcoin Debit Card

Coming in at number 10 is a long-time player in the digital currency sphere, BitPay. Since 2001, BitPay has been helping to innovate the Bitcoin payment processing industry, helping to connect people with Bitcoins to merchants across the globe. Their newest offering is their Bitcoin debit card, which allows both merchants who accept Bitcoin, as well as regular consumers leverage the power of bitcoin by allowing them to use their Bitcoin balances wherever Visa debit cards are accepted.
Compared to other bitcoin debit cards, BitPay is very feature thin, but they intend it to be that way. Their main service is providing merchants a way to offer Bitcoin, as a payment method to customers. In this area, they are, by far, the most popular choice. It would be hard to find anyone who deals in Bitcoin, who has not used, or at least heard of BitPay.
They have a long-standing reputation as one of the leading innovators of bitcoin payment technologies and are still leading the way into new and improved merchant features. They have one of the longest standing services in Bitcoin related spending and you can be sure you will see much more, in the terms of new and improved Bitcoin spending technologies from them.

Total Cost to Obtain a BitPay Bitcoin Debit Card: $?

The Good

Mobile App, Great reputation, High ATM Limits

The Not So Good

No virtual bitcoin debit card, Identity verification required, No altcoin support

TenX Bitcoin Debit Card

The TenX Bitcoin debit card offers its cardholders a plethora of great features. The TenX Bitcoin debit card offers 0.1% cashback rewards on every purchase made using the card, and as a token holder, you get 0.5% Ethereum rewards for every transaction. TenX currently supports Bitcoin, Ethereum, Ethereum ERC20 Tokens (DGX, REP, TRUST, ANT, etc.) and Dash.
Another Great feature of the TenX Bitcoin Debit Card is that as a cardholder, you have full control over the security of your card and the funds it holds. You are the holder of you own DSS key, allowing you to fine tune your security settings. You can control spending limits, Daily Limits, Portfolio Spending, Withdrawal setting, etc.
The fees are extremely low with the TenX Bitcoin debit card. Other than a modest ATM fee, there are no other fees at all. No monthly fee, no annual fee and a 0% Foreign exchange fee. That is on both, the virtual Bitcoin debit card, as well as on the physical card.

Total Cost to Obtain a TenX Bitcoin Debit Card: $15.00

The Good

Mobile App, Cashback rewards, Multi-blockchain support, Little to no fees

The Not So Good

Low transaction limits unless verified level 2, High ATM Fee

Shift Bitcoin Debit Card (Coinbase)

Users of Coinbase in the United States can grab the Shift card Bitcoin debit card. Shift card and Coinbase have partnered together to bring residents of the United States their very first Bitcoin debit card. The card features no transaction fees and a low 3% fee on any foreign transaction, but has no annual fee.
You must have a valid and active Coinbase account to use this card, but Shift makes it easy for you to tie into your account. They also allow any users of Dwolla, who have the need, the ability to tie that account to the card, as well. This gives you a ton of options for leveraging your Bitcoin.
Adding to the features of the Shift card, you are also able to leverage the balances in Ethereum and LiteCoin, that you hold in your Coinbase wallets. The card has an app that allows you to view transactions in real time and manage your card in various ways. The app is available on both iOS and Android devices from the App Store and Google Play.

Total Cost to Obtain a Shift Bitcoin Debit Card: $10.00

The Good

Mobile App, Great reputation, High ATM Limits

The Not So Good

No virtual bitcoin debit card, Strict US Guidelines

Monaco Bitcoin Debit Card

Monaco Bitcoin debit card is backed by the MCO Token and comes in 1 of 4 different cards, all with various features and benefits. The highest privilege card requires the cardholder to purchase 50,000 MCO tokens. There are only 999 of these cards available and they offer up to 0.75% cash back, $500,000 in travel insurance coverage and no monthly or annual fees. They then have a 500 MCO Token level card and a 50 MCO Token level card, as well as a No MCO Token required card for those who want to leverage other forms of currency.
With the MCO Token currently valued at over $9.00, it can be a bit pricey to obtain one of the upper echelon of the Monaco branded Bitcoin Debit cards, but the free card is available, in unlimited supply to anyone who wants it. All Monaco cards come with a chip, making them more secure and each level has a different amount of free ATM transactions that are included. Starting at $200 for the free card and going up to $2,000 for the Highest level, the Obsidian Black.
Monaco offers an App in both google play and the Apple App Store, making using the card, viewing transactions and managing things a bit easier. They offer multiple cryptocurrencies and 5% to 8% lower exchange rates than you can find elsewhere and the cashback rewards are generous. They also charge 0% foreign transaction or exchange fees, making it a Bitcoin debit card to travel with.

Total Cost to Obtain a Monaco Bitcoin Debit Card: Free

The Good

Mobile App, Different card levels, Full account control

The Not So Good

No virtual bitcoin debit card, High prices for premium cards

TokenCard Bitcoin Debit Card

The TokenCard Bitcoin debit card features a Contract Wallet, built on the same blockchain and Ethereum, allowing for its users to have full control over their accounts and security. They use ERC20 based tokens and any token that is part of that blockchain network can be used to fund your TokenCard.
TokenCard also offers a mobile app to its users, which allows you to monitor your spending in real time and encourages users to go bankless. They have dubbed this time in history as the Post bank era, touting the ability to be your own bank by using their intuitive app and currency. They have it set-up so that all transactions are done in real time, simultaneously as when the card is being swiped.
One of the best features of the TokenCard is that you can even spend multiple tokens in a single transaction, and even autonomously maintain a desired portfolio allocation within your Contract Wallet while you do it. Also, you never deposit any money with the company, at all; ever. You are in total control of your funds. They remain in your wallet until you decide to spend them. The way they have it set up, users have direct access to diversified markets while, at the same time, having connections to major payment systems.

Total Cost to Obtain a TokenCard Bitcoin Debit Card: TBD

The Good

Smart contract based, multiple currencies, Mobile app on iOS and Android

The Not So Good

Technical ability required, High ATM Fees, Brand new card and company

Conclusion Best Bitcoin Debit Cards

That concludes the top ten Bitcoin debit card providers review. As we move into a future, which promises great things for both Bitcoin, and cryptocurrencies as a whole, you can guarantee that more of these services will emerge with promises of bigger and better things. Remember to be safe, do your homework and never be afraid to ask questions.

VISA or Master – which Bitcoin Debit Card is best for you?

All of the Bitcoin Debit Cards we have stumbled upon were issued by VISA or Mastercard. Fees, limits and exchange rates differ from the company offering you the BTC Debit Card and not from VISA or Mastercard.

So let us examine the differences between the Mastercard and VISA:
The main difference comes with small perks.

VISA having better for example car rental insurance and emergency assistance terms.
Mastercard offers a good ‘Price Protection’ after buying something if the price gets reduced within 60 days.

End of the day, we see more similarities than differences when comparing VISA and Mastercard. This is why you should be more concentrated on where to order and not what to order.

Virtual or a Plastic BTC Debit Card?

If you order a Virtual Bitcoin Debit Card, you will only get the card number and all the data needed to use it.

If you order a Plastic Bitcoin Debit Card, you will get the physical card send to the specified address.

The Benefits each are:

  • Virtual BTC Debit Cards are cheaper, because you save yourself the shipping and production cost.
  • Plastic BTC Debit Cards are more useful, because you can use them on all terminals for example ATMs.

Fees on Bitcoin Debit Cards

This is the most important aspect in choosing the best bitcoin debit card! The following fees might occur:

  1. Card Price – The amount you will need to pay to get the card.
  2. Delivery – The shipping cost to the desired location.
  3. Domestic/International ATM transactions – The amount you will need to pay for pulling money out of a cash machine.
  4. Forgeign Exchange – Fees that occur, if you are paying in a fiat currency different than the currency on your bitcoin debit card.
  5. Monthly Service Fee – Monthly occuring fee, charged for having the card.
  6. Loading Fee – Usually a percentage of the amount you are putting into the card.
  7. Unloading Fee – Usually a percentage of the amount you want to get out of the card – over the bitcoin debit card website.

Anonymity of Bitcoin Debit Cards

The anonymity has always been one of the strongest selling points of cryptocurrencies. But what happens to this privacy advantage if we order ourselves a bitcoin debit card? Well, it depends on where you order your card from. As explained above, currently all bitcoin debit cards are issued by VISA or Mastercard. And since VISA and Mastercard need to comply with the AML (anti-money laundering) and KYC (Know Your Customer) regulations, the bitcoin debit card provider need to hand out our information to them. In order to verify your account, you need to submit two types of documents:

  1. Valid government issued ID – For example a driving licence, a national id card or an international passport.
  2. Proof of residency – For example a tax return, an utility bill, a bank statement or a government-issued certificate of residence

Luckily there are possibilities to preserve the anonymity of using Bitcoin over a debit card – though with some limitations! A limited lifetime card is the solution! A card that will expire sooner or later. The limit is defined but the amount that can be loaded to the prepaid card – normally about 2500$. So after loading and unloading up to 25000 USD, the card can not be used anymore.

Funding your Bitcoin Debit Card

Most Bitcoin Debit Card companies offer two ways of loading your card. Those are:

  1. Funding over Bitcoin – The transferred bitcoin will be automatically converted to the fiat currency of the bitcoin debit card.
  2. Funding over Fiat Currencies – You can send the fiat currency to the website and they send it further to VISA/Mastercard. Alternatively, there are bitcoin debit card operators, on which you can exchange your bitcoin into a fiat currency and then transfer it – functioning like a cryptocurrency trade.

Like talked above, one should care with the second way of funding, since the privacy option if transferring funds directly from your normal bank account is lost!

Summary on BTC Debit and Credit Cards

There are many websites offering prepaid debit cards. This is something awesome because the competition is pushing the fees downward. And since the fees are one of the most important factors, one should try to calculate the best bitcoin debit card for him- or herself based on what he or she is going to use the card for. Depending if it is for shopping online, trying to buy things anonymously or needing a card for the next traveling abroad. There is always a perfect deal out there!

Also, never forget, that if you verify your real identity to the credit/debit card issuer, then you need to be very, very careful. Because for example each BTC -> USD -> BTC transaction can be controlled and can be seen as a currency earning and needs to be taxed.

Bitcoin Debit Card Comparison Table

Double Spend
Card IssuerStatusUser Security ControlOpen
Mobile App
CoinsBankBitcoinHosted WalletSafeVisa ActiveNoneNoYesNo FeesAndroid & iOS
BitwalaBitcoin +moreHosted WalletSafeVisa ActiveNoneNoNoNo FeesNone
BitnovoBitcoinHosted WalletSafeVisa ActiveNoneNoNoNo FeesNone
WageCanBitcoinHosted WalletSafeVisa ActiveNoneNoYesNo FeesAndroid & iOS
BitcoinHosted WalletSafeVisa ActiveNoneNoYesNo FeesAndroid & iOS
BitPayBitcoinHosted WalletSafeVisa ActiveNoneNoNoNo FeesAndroid & iOS
SpectroCoinBitcoin +moreHosted WalletSafeVisa ActiveNoneNoNoNo FeesNone
UquidBitcoin +moreHosted WalletSafeVisa ActiveNoneNoNoNo FeesAndroid & iOS
WirexBitcoin +moreHosted WalletSafeVisa ActiveNoneNoNoNo FeesAndroid & iOS
CryptoPayBitcoinHosted WalletSafeVisa ActiveNoneNoYes1%None
XapoBitcoinHosted WalletSafeVisa ActiveNoneNoYesNo FeesAndroid & iOS
Shift (Coinbase)Bitcoin +moreHosted WalletSafeVisa ActiveNoneNoNoNo FeesAndroid & iOS
TokenCardERC20 Tokens...Smart ContractRiskyVisa FundingPartialNoYesTBDAndroid
MonacoBitcoin +moreHosted WalletSafeVisa ActiveNoneNoYesNo FeesAndroid & iOS
TenXBitcoin +moreHosted Wallet & Smart ContractSafeVisaFundingFullYesYesNo FeesTBD
A side by side look at Bitcoin Debit Card Features

Useful Links and Information

After reading all this info about btc debit cards, then here are some things, which might interest you as well:

About Gene

Gene writes about cryptocurrencies, blockchain & Fintech. He lives, with his girlfriend and son, in Daytona Beach, FL gene.cotillo@coinstaker.com ~ BitcoinTalk: toodamntired

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