A few years ago, crypto debit cards were very easy to come by. Today, things have changed significantly, although newcomers are trying one more time.
BitPay is well known as a Bitcoin payment processor.
BitPay Card Now Available
Rather than stick with the business, the company has decided to explore a few different options.
One such effort comes in the form of issuing prepaid debit cards.
Instead of using Visa, BitPay opted to provide a Mastercard branded payment option.
An interesting choice, although more competition among card issuers is always a good thing.
As part of this new venture, the card will be known as the BitPay Card.
Users will prefund their card with cryptocurrency, and it can be converted into fiat, which is then “used” to spend.
It is also one of the few cards available to clients in the United States.
Combined with the mobile app, users can fund their cards via Bitcoin, BCH, Ethereum, XRP, and several stablecoins.
In terms of limits, there is a $25,000 balance limit and withdrawals are limited to $6,000 per day.
All cards are provided through the Metropolitan Commercial Bank, headquartered in New York City.