June 11, 2020 will remain an important date in the world of cryptocurrencies. Bitpay, the famous cryptopayment platform, has announced the launch of a prepaid debit crypto-card. And when we know for example that this payment service provider Bitpay registered in 2018, over $ 1 billion in crypto transactions, an absolute record, we can imagine that this innovation will greatly influence the daily life of cryptocurrency users.
BitPay Card, the card that allows you to spend Bitcoin
Bitpay, by launching its debit crypto-card called Bit pay Card wants to allow American customers to spend money BitCoin. It is not limited not only to Bitcoin, but at all cryptocurrencies. This innovation will for the moment be limited to United States, waiting to expand in Europe and to the rest of the world, the statement said.
The card is recharged in US dollars, thanks to the balance in the crypto wallet of its user. BitPay Card is in partnership with MasterCard. So that means you can use the BitPay Card at all merchants accepted by MasterCard and in more than 1,100 partner stores of BitPay. With the Bit Pay Card, customers can also use their cards for online payments or withdraw cash from an ATM.
The BitPay Card more advanced than ordinary bank cards?
The card allows you to recharge instantly dollars from its user’s crypto wallet. This reload is faster than a transfer. It absolutely does not exist no conversion fees. This is indeed what appears on the BitPay Card site. The Managing Director of BitPay, Stephen Pair indeed asserts:
“The BitPay card offers new benefits and features for consumers. It facilitates the conversion of Bitcoin and other cryptocurrencies into a usable balance without generating exchange fees. “
In reality, with other bank cards, card payments are exempt from conversion fees, for the currencies that the user already has. When you pay in a currency that you do not have, you will be charged a conversion.
However, with BitPay Card, an ATM withdrawal operation will cost you $ 2.5. The set comes with a daily top-up cap, set at $ 10,000. Bit Pay Card also offers a virtual debit card for online purchases and for quick access.
The Bid Pay Card also has the EMV chip to make contactless payments with improved security. Among other things, you have the option of locking your card and controlling your spending. An improved BitPay app interface lets you view your balance, change your pin code, and reload instantly.
In the crypto-bath since 2017, both much too late but quite early from the point of view of my future grandchildren ????
Writer, Amateur Trader, Ethereum and NEO-compatible