Bitcoin Debit Card FAQ

Bitcoin Debit Card FAQ

What is a bitcoin debit card?

A bitcoin debit card is a VISA or Mastercard that you can use to buy goods and services from online and offline shops or withdraw money from ATMs. At the same time it is directly backed by bitcoin funds. Bitcoin debit cards make an easy access to spend cryptocurrency funds anywhere in the world.

What types of bitcoin debit cards exists?

The plastic bitcoin debit card looks like an ordinary VISA or Mastercard which you can use the same way. The virtual bitcoin debit card is issued online with the same details as a standard debit card. The cardholder name, date of expiry and the CVC/CVV codes are provided upon order, but there is no phsyical production making it easier and faster to access the funds.

How can I use a bitcoin debit card?

You can use a bitcoin debit card just like any prefunded debit card. You can spend the balance of the card for buying goods and services in local shops or in online stores. If you have a plastic bitcoin debit card, you can withdraw cash from ATMs. You can also use your bitcoin debit card to make purchases both domestically and internationally.

What are the currencies I can use a bitcoin debit card with?

Bitcoin debit cards holds the available funds in fiat currencies beside bitcoin. The most popular currencies are USD, EUR and GBP. The currency can be set as default currency linked to the bitcoin debit card amount, so the transactions conducted with the card are expressed in that currency. Couple of providers open the bitcoin debit card markets to further currencies as well. Among others, providers also offers bitcoin debit cards with default currency in RUB, CNY, JPY, KRW, AUD and CHF. Some providers also has the option to fund the card with altcoins as well beside bitcoin.

How can I order a bitcoin debit card?

In order to have a bitcoin debit card, you must register at one of the providers’ platform. The registration process includes providing personal details of the cardholder, such as name, date of birth and place of residency. The given information must then be verified with a photo ID and a proof of residence. This can be a bill containing the address of the caldholder. After placing the order and choosing the shipping method the plastic cards are delivered to your home. In case you have opt for a virtual card, the card details are issued to your email address. If you do not want to share personal information, you can order an anonymous bitcoin debit card without verification.

Can I have a bitcoin debit card without verification?

Oo. Anonymous bitcoin debit cards are available at couple of providers on the market. If you do not want to go through the verification process of providing photo ID and proof of residence, you can choose an anonymous bitcoin debit card. Sa kasong ito gayunman ito nagkakahalaga ng noting na ang ang limitasyon na naaangkop para sa mga hindi matukoy na gumagamit ay laging mababa kung ihahambing sa napatunayan ng mga gumagamit. Kaya nga lamang ng limitadong halaga ng mga pondo magagamit mga anonymous bitcoin debit kard bilang kapalit ng pagbibigay lamang ng isang pangalan na ididispley sa card.

Gaano katagal aabutin upang makatanggap ng bitcoin debit card?

Inisyu ang plastic bitcoin debit card ng VISA o Mastercard at ito ay tumatagal ng tungkol sa 2-3 Linggo upang matanggap ang mga ito. Ang dami ng oras upang makakuha ng mga kard na ito ay depende sa ang distansya sa pagitan ng card provider at ng may-ari ng card. Para sa dagdag na singil ng express delivery ay maaaring napili sa lahat ng mga naglaan. Sa kasong ito ang card na ito ay ibinigay sa loob ng 2-5 business days with the services provided by DHL along with a tracking number.

Paano ko top up ng bitcoin debit card?

Maaari mong top up ang bitcoin debit card ilang ibang mga paraan kaysa sa bitcoin. Maaari mong gamitin ang bank wire transfer, credit or debit cards and alternative payment providers as Neteller and Skrill. In most cases however PayPal is not among the accepted payment method due to its terms and conditions.

How can I withdraw money from a bitcoin debit card?

You can withdraw money from a bitcoin debit card similar ways as you have loaded the account. You can send bitcoins to another address. You can also withdraw the funds to a bank account or to an alternative payment provider, such as Skrill or Neteller. In most cases however PayPal is not among the accepted withdrawal method for bitcoin debit cards.

Can I withdraw money from ATMs with a bitcoin debit card?

Oo. You can withdraw money from ATMs worldwide using a plastic bitcoin debit card.

How much a bitcoin debit card cost?

The prices of the bitcoin debit cards are varying across providers. The one time issuance cost of a plastic bitcoin debit card is between 5-25 USD. The issuance cost of the virtual bitcoin debit card is much less, you can even get it for free at some places. Beside the one time production cost of the card, a monthly account maintenance fee is charged in the amount of 1 USD per month.

What are transaction costs associated with a bitcoin debit card?

The transaction costs of the bitcoin debit cards are varying widely, the more expensive cards can have smaller transaction fees. Loading the card is usually free of charge, while the withdrawals are charged based on the type you choose. The POS and online purchased can be charged with a fixed fee or at a prorata percentage. ATM withdrawals are charged between 1.5-2.5% kada transaksyon, international withdrawals costs more. There is also currency translation fee is charged if the default currency does not match the transaction currency.

What are the limits of a bitcoin debit card?

In some cases there is maximum amount of fund you can load to a bitcoin debit card. This impacts the amount of money you can spend with the card and also the amount of cash you can withdraw from ATMs. Verified users may have higher limits and also some providers offers unlimited bitcoin debit card for registered users. The lifetime topup are limited around 2000 USD for anonymous users.

What are the ATM withdrawal fees associated with a bitcoin debit card?

Bitcoin debit card providers charges fees when withdrawing cash from ATMs. This fee can be charged per transaction or prorata. The domestic ATM withdrawals usually cost around 1.5%, while the international ATM withdrawals are charged at 2.5%.

What is currency translation fee associated with bitcoin debit card transactions?

Currency translation fee is charged in case the default currency of the account associated with the bitcoin debit card is different compared to the currency of the transaction. In this case a fixed 3% currency translation fee is charged by all of the providers on the market.

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