BitPay Card Review
BitPay offer a prepaid card that allows users to convert any of the 8 supported crypto-assets into USD. This platform currently supports BTC, BTCH, BUSD, DOGE, ETH, GUSD, PAX & USDC. Currently only supports 1 Fiat option (USD), which is inconvenient for users outside of the U.S. Their $9.95 sign-up fee is lower than some competitors, with charge back processing or additional monthly fees.
There is a standard ATM charge of $2 per withdrawal & $3 for international ATMs; 50 cents lower than typical rates of competitors. The 3% POS foreign transaction fee is more expensive than some competitors, however. They also charge a $5 dormancy fee after 90 days with no transactions, whilst some competitors choose to not include such fees. Fully audited by Aprio and FDIC insured for up to $250,000 per individual, a direct benefit over many other crypto-card companies who remain unapproved.
- 2FA enabled
- Utilises cold storage
- Fully audited by Aprio
- Supports 8 crypto assets
- $10,000 daily purchase limit
- Competitive $9.95 sign-up fee
- Both virtual & physical cards available
- Supports Apple, Google & Samsung pay
- No monthly or charge back processing fees
- Freeze/unfreeze options & fraud monitoring improve security
- FDIC insurance on U.S. cards - insured for up to $250,000 per individual
- No cashback
- Slow support
- No staking options
- Only 1 Fiat option (USD)
- $2,000 daily withdrawal limit
- $5 per month dormancy fee after 90 days with no transactions
Specification: BitPay Card Review
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