Bitwala Visa Card Review

Bitwala

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Verdict: Best for people looking for a bank account and crypto wallet in one. The Bitwala card has relatively low fees, and you can earn interest on your crypto, but it's offering lacks crypto cashback, and perks, which have become prevalent among top crypto cards in 2021.

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Reviews (0)

7/10 (Expert Score)

Product is rated as #33 in category Crypto Cards

Bitwala aims to bridge the gap between cryptocurrency and traditional finance. Each account is a licensed bank account with German deposit insurance with a non-custodial crypto wallet (you manage your own keys). To spend crypto on your Bitwala card will require manual selling of crypto to EUR to and incurs a 1% fee. This process can take up to 30 minutes which differs from instant settlement options offered by other providers, which is a bit of a drawback. If your cryptocurrency is in your savings wallet, Bitwala pays +4% interest on BTC/ETH balances.

All in all, we do like its relatively low fees, convenience, easy fiat onboarding and earning interest on your crypto balances in non-custodial wallets. But with no cashback, instant settlement, or extra perks like Netflix or Spotify rebates, Bitwala is lagging behind other top crypto debit cards on offer in 2021.

Features

8.5

Usability

Payment options

Fees and charges

Perks & rewards

Company & Reputation

Support

PROS:

No signup or monthly fees.
No withdraw or deposit fees.
Earn +4% interest in your wallet on BTC/ETH in your crypto wallets.
Non-custodial wallets - you control your private keys.
In-app trading with relatively low fees.

CONS:

Prepaid, so requires manual conversion of crypto rather than instant settlement.
No perks such as rebates on Netflix or Amazon Prime.
No cash back on purchases.
Only BTC/ETH cryptocurrencies supported.
Slow support times and no live chat.
Not available in the US.

Specification: Bitwala Visa Card Review

Company & Availability

Insurance Coverage	Per Wallet
Eligible regions	Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, French Guiana, Germany, Gibraltar, Greece, Guadeloupe, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Martinique, Mayotte, Netherlands, Norway, Poland, Portugal, Reunion, Romania, Saint-Martin, Slovakia, Slovenia, Spain, Sweden, The Aland Islands, United Kingdom
KYC	Yes
Credit Check	No

Savings Information

Supported Fiat Currencies	EUR
Supported Cryptocurrencies
Gas fees	No fees

Availability

ATM Access	Worldwide
Pay In Local Currencies	Yes

Support

24 hour support	Email support
Live Support	No

Staking

Staking required	No
Token Ticker	No Token

Rewards

Cashback on spending	No
Cashback Restrictions	N/A
Max Cashback	N/A
Referral Rewards	€15 per referral

Spending Limits

Daily ATM Limit	€3000
Daily Purchase Limit	Offline payments: €1,500, can be raised up to €3,000., Online payments: €1,500, can be raised up to €5,000.
Monthly ATM Limit	€10,000
Monthly Purchase Limit	Online €10,000 + Offline €10,000

Fees

Signup fee	No fee
Monthly fee	No
Delivery Fee	No fee
Online/Offline Purchase Fees	No fee
Topping up fee	1%
ATM Fees	No fee
International ATM fee	N/A
POS Foreign Transaction fee	No fee
Card Replacement Fee	€9.50
ACH Declined	No fee
Charge back processing	No fee
Dormancy	No fee
Exchange Rate Provider	Visa

Card Features

Instant settlement	No
Prepaid	Yes
Topping up limit	N/A
Dual-Interface NFC/EMV (Card with chip)	Yes
Virtual Cards	No
Physical Cards	Yes

Security

Fraud Monitoring	Yes
Freeze / Unfreeze	Yes
Instant Notifications	Yes
Pin Viewing	Yes
2FA	Yes

Asset protection & Insurance

Cold Storage	No
Insured by	Bitwala incorporates fully-licensed bank accounts protected by the German deposit guarantee scheme up to €100,000 per account.