How to transact Bitcoin to prepaid credit card? Welcome crypto in everyday life!

How to transact Bitcoin to prepaid credit card? Welcome crypto in everyday life!

The main purpose of the cryptocurrency is to become an equal payment means along with traditional money, and there are ways to transfer the bitcoin to prepaid credit card. This kind of cards helps to build the bridge between the world of virtual and fiat money. Simply speaking, having such a payment instrument, its owners can manage their finances - make purchases, pay for services, and also store savings in the safe and secure place.
 
Table of content:
- Which types of bank card can be issued for BTC?
- How to start using the payment tool?
- Review of bitcoin cards
- Some words about the lack of anonymity in the conclusion

Cards for Bitcoin
 
We know that modern banks offer their customers credit, debit and prepaid cards. As for the digital assets, the latter two are relevant.
 
The debit card allows you to manage only the amount that is stored on the account. In other words, it will not be possible to use credit virtual funds in this case but you can take out a BTC loan on the special services.
 
The functionality of the prepaid card is also limited. In fact, this is a way of storing personal money for easy payment for goods and services. You can replenish such cards in POS terminals or in the offices of the bank.
 
Bitcoin prepaid debit card is a new type of banking product and the main topic of our article. This card allows you to automatically transfer virtual funds into fiat money and use them as usual!
 
Getting started with your account
 
There is a large choice of prepaid bitcoin cards, and the best of them will be described below. Now the most important question is how to get a card and use it in the near future. It all starts with the registration. You should visit the website of the service (we took the Cryptopay resource as an example), go to the Sign Up section and create an account in the usual way. Your first name and email are necessary. A password is also required. Email will come with a link, by clicking on which you activate your account.
 
Inside the account you will see that wallets for cryptocurrency and accounts for the fiat money If operations with cryptocurrencies do not require ID, everything related to the Bank and Card deposits requires documentary confirmation. For this purpose, you will need to provide 3 types of documents. They are your Passport (double page), National ID card and Driving license (both sides). The documents must be entirely visible, high-quality and valid. A proof of residency is also required so be ready to give utility bills.
 
To exchange the Cryptocurrency for USD or another national currency, there is a special function called Transfers section inside the account. In the form you need to fill in the appropriate fields, where you have to specify the amount and the currency for the exchange. Due to the peculiarities of the process of exchanging crypto for fiat, it will take some time. A fee is also charged. When you have funds appearing on your USD account, you can go to the store and pay for purchases or even withdraw some cash from any ATM.
 
As you can see, all exchange operations of bitcoin to prepaid credit card are made in your account personally. For this purpose, you do not need to visit a bank office, make calls or involve intermediaries in the process. However, with all these advantages, you will have to pay the fee for services and transactions. Any bitcoin card is an attractive financial tool for those who travel a lot and wants to manage their virtual savings anywhere in the world.
 
Bitcoin plastic cards review
 
The trend of 2015-2018 was an increase in the number of companies that offer crypto plastic cards with support for Visa, Mastercard and other popular payment systems. There are about 30 companies in the world that issue such payment instruments. There are cards in which crypto coins are used directly without conversion, when the other part has this function. Not only bitcoin is a means of calculation. Ethereum, Litecoin and other altcoins are also used.
 
Bitwala
 
Cryptocurrency users from Europe can order Bitwala plastic cards to make payments in EUR. The cards are issued by Mychoice with the support of Wavecrest Holdings Ltd. Customers can get at their disposal both physical (release costs 8 euros) and virtual cards (2 euros). The commission for the transaction is 0.5%, and withdrawing cash from the ATM requires payment of 2.25 EUR. Purchases made in PoS terminals don’t demand any fee.
 
Spectrocoin
 
Spectrocoin is a well-known BTC card in the Baltic states. Holders use dollars, euros and GBR. You can buy a virtual card for a symbolic € 0,50, and a physical one costs € 8,00. Replenishment of cards is without fee. To get cash from the ATM you need to pay $ 3.50. Mychoice issues these card in conjunction with the bank Wavecrest Holdings Ltd.
 
Bitpay
 
Bitpay is available for residents of the US and Europe. Its issuance in the American region is supported by Metropolitan Bank, and in European region
Wavecrest Holdings manages the process.
The price of the card is 10 USD. As for the payments, Bitpay allows you to make them in traditional money. 2 USD will have to be paid for the cash withdrawing from ATM, and PoS operations do not require the fee.
 
Xapo
 
On Xapo cards, which are also the brainchild of Mychoice, you are allowed to store
bitcoins directly and they are converted traditional money when the transaction is being made.
The cost of a plastic card is 18 euros. There are no service fees, neither a fee for paying through PoS terminals. If you withdraw money from an ATM, you will have to pay 2.25 EUR for each such transaction. In the US Xaro cards do not work.
 
Coinbase Shift
 
Coinbase Shift is one of the most popular services in the US. You can store several
cryptocurrencies in the account and they are LTC, ETH and BTH. Only one wallet is allowed to be binded to the account, but it gives the opportunity to purchase goods from 38 million companies around the world that accept VISA. As for the issue, users pay 10 USD. Conversion of BTC to USD is made without fees.
 
Coinsbank
 
Due to the Coinsbank card you can store BTC and LTC. Both plastic and online cards can be received. They are working on the opportunity to issue unnamed cards, but now they doesn’t work. When withdrawing money from an ATM, cardholders pay 4.95 USD. The amount is relatively large, but internal operations are performed without fees. 0.95 USD is taken for the service each month. In the US Coinsbank does not work.
 
Wirex
 
Virtual prepaid card bitcoin is issued without payment, when for physical you have to pay 17 USD. The card service is 2.5 dollars. Holders of this card exchange Bitcoin for real money without a special fee. To activate a physical card you need to identify your documents, and a virtual one can be used without this procedure. Wirex is not available in the USA.
 
Coinbase
 
Coinbase issues a debit Shift-card that has a direct link to your BTC wallet and all transactions are made inside it. In other words, a separate wallet is not needed, as well as the regular replenishment of the balance. Virtual money comes to your wallet and you can immediately display them, spend or make transfers to the third parties without much effort. Coinbase works in the US, with the exception of some states.
 
Cryptopay
 
Plastic bitcoin cards from Cryptopay are very popular. Plastic and internet ones are given. The last will cost 15 USD. From the time of ordering to delivery, a week passes as usual. Cryptocurrency transactions are anonymous, and with the involvement of traditional assets, identification will be required. The card supports USD, EUR, GBP. Cryptopay works on the basis of Visa Debit, so you can pay worldwide. There is also a mobile application Cryptopay.
 
Conclusion
 
The possibility of transferring a bitcoin to prepaid credit card opens new horizons for the digital assets and is an opportunity to involve cryptocurrency into the everyday life without much effort. However, with all the advantages of this connection, users of virtual money will have to accept that all processes will be monitored and financial confidentiality as well as anonymity
will be out of the question.



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