Cryptopay is an exchange, wallet, and card solution that allows you to withdraw from any ATM and shop anywhere with card support. The major fiat currencies of USD, EUR, and GBP are supported. Supported cryptocurrencies include bitcoin, litecoin, and xrp. Ethereum is scheduled to be released soon. However, the card can only be funded with fiat currency or bitcoin. There are two types of cards supported. Once funded, you can easily convert between the bitcoin in your wallet and fiat currency. The plastic card needs to be ordered for point of sale and atm transactions.
The virtual card can be used for online shopping. A plastic card costs $15 whereas the virtual card costs $2.5. Fees for using the card are about on par with competitors. There is a $1 monthly service fee on the cards and fees for atm and point of sale transactions. One fee to watch out for is a 3% foreign currency fee if you load your card in a different currency than it is denominated in.
In terms of the Cryptopay bitcoin wallet, it uses multisig technology and users can also enable two-factor authentication to add an extra layer of security. Deposits and withdrawals within the SEPA zone are free.
Operating out of the UK, the company has over 120,000 prepaid cards issued with almost a million users of their services. The company is well-established and trusted in the cryptocurrency community.
- The company is well established with a high number of users
- Fees are very transparent
- Trusted in the cryptocurrency community
- The card enables users to easily convert between bitcoin in their wallet and fiat currency
- Wallet employs multisig technology and users also have the option to enable two-factor authentication
- A limited amount of cryptocurrencies supported
- The card can only be funded with fiat currency and bitcoin