BitPay Card Review: Pros, Cons, & What We Like

Written by Jordan BlansitUpdated: 29th Sep 2021
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Founded in 2011, BitPay is doubling down on the decentralized future with their very own card – the BitPay Prepaid Mastercard®.

Partnering with Metropolitan Commercial Bank (Member FDIC), this card enables cardholders to easily spend cryptocurrency on everyday purchases.

BitPay Card Pros and Cons

Pros:

  • Robust multi-device security that safeguards your digital assets around the clock.
  • Easily reload your BitPay Card without conversion fees and competitive exchange rates.
  • BitPay Card is accepted at all MasterCard locations worldwide.
  • Supported on Desktop, iOS, and Android. Also compatible with Apple Pay.
  • Available to U.S. Residents
  • Low ATM Withdrawal Fees
  • High Daily Deposit Limit ($10,000) & Maximum Spending Limit ($10,000 Per Day)
  • Pay with contactless, PIN, or Withdraw Cash from Compatible ATMs
  • No Conversion Fees (reloading prepaid card)

Cons:

  • Only Available to U.S. Residents
  • Inactive Cardholder Fee (After 90 Days)
  • $9.95 Issuance Fee
  • 3% Foreign Transaction Fee

What Is a BitPay Card?

The BitPay Card is a Prepaid Mastercard issued by Metropolitan Commercial bank (Member FDIC). Cardholders can easily load their balance by converting cryptocurrency (BTC, ETH, LTC, etc.) into fiat currency, which can then be used at all locations that support Mastercard transactions.

BitPay Card Review

How Does the BitPay Card Work?

First and foremost, it is important to distinguish a few things. The BitPay Card is not a credit card, nor is it a traditional debit card. Instead, the BitPay Card is a reloadable prepaid debit card.

This means you simply add money to the card as you need. To do this, you can either do it through the BitPay Mobile App, or you can use a third-party payment processor such as Walmart, CVS, Walgreens, or Western Union.

Cardholders can add their BitPay Card to their Apple Wallet and spend with Apple Pay while waiting for the physical card to arrive.

Additionally, BitPay supports Google Pay and is about to add Samsung Pay to its roster in the near future.

>> More: How to Buy Bitcoin

BitPay Card Features and Benefits

Robust Security

The BitPay Prepaid Mastercard uses enhanced security to safeguard your digital assets, transactions, and accounts.

To do this, BitPay employs blockchain technology, EMV Chips, dual-factor authentication, protocols and gives users complete control over their account (lock/unlock).

Instant Reloads

The BitPay Card is easy to reload. To make it more appealing, they do not charge conversion fees, and exchange rates are some of the most competitive around.

**Network Fees & Miner Fees May Apply**

Easy to Use

Both the BitPay Card and BitPay App are straightforward and easy to use. From the mobile app, you can control your entire account whether you want to adjust your settings, lock/unlock your card, view your balance, reload your card, request a new PIN, send/receive crypto, and more.

Feel Free to Use Worldwide

Their strategic partnership and licensing with Mastercard means the BitPay Card is widely accepted worldwide. So, the next time you are traveling overseas, feel free to use your BitPay Card!

BitPay Card Review: Limits & Fees

No review is complete without thoroughly analyzing the card limits and fees. Let’s dive in!

BitPay Card Limits

  • ATM Withdrawals: $2,000 per withdrawal, 3 withdrawals per day. This totals to $8,000 per day.
  • Load Limits: $10,000 Per Day
  • Spending Limits: $10,000 Per Day
  • Maximum Balance: $25,000 Including Cash Loads

Compared to normal prepaid debit cards, the BitPay Card actually has fairly large load and spending limits, which is good if you possess large crypto holdings.

BitPay Card Fees

  • Card Issue: $10.00
  • ATM Fee: $2.50
  • Monthly Fee: $0.00
  • Card Load: No Conversion Fees
  • Card Replacement: $10.00
  • Foreign Transaction Fees: 3.00%
  • Inactivity Fee: $5.00 Per Month After 90 Days with no transactions

At first glance, the fees seem minimal; however, remember prepaid cards are designed to be used frequently.

That means these fees will add up over time. Fortunately, there are cheaper bitcoin debit cards available.

>> More: Best Cryptocurrency Exchanges

How Does the BitPay Card Compare to Other Debit Cards?

#1. BitPay Prepaid Card vs. Coinbase Debit Card

The Coinbase Debit Card is a great choice for those who already have a Coinbase Account and want a traditional debit card experience.

The Coinbase Debit Card is linked up to your Coinbase Account, which means you can easily deposit and spend funds already held in your Coinbase Wallet.

Moreover, this card touts low-fees and rewards cardholders with Bitcoin or Crypto rewards after each purchase!

>> More: Coinbase Review and Coinbase Debit Card

#2. BitPay Card vs. BlockFi Credit Card

Even though the BlockFi Card isn’t a debit card, it is still worth comparing to the BitPay Card. This credit card earns 1.5% back in the form of Bitcoin on every purchase, offers purchase protection, and will help you build/establish credit.

Additionally, the BlockFi Card offers a generous $250 bonus after you spend $3,000 in the first three months. That said, the BlockFi Card is still in production mode and is beginning to let people join the waitlist.

>> More: BlockFi Credit Card Review andBlockFi Review

#3. Crypto.com Prepaid Card vs. BitPay Debit Card

I will be upfront, the Crypto.com Prepaid Visa Card is a nifty card that is loaded with features, advanced security, and rewards.

The Crypto.com Card has different card tiers, broken down into five categories based on your “CRO” Stake.

  • Obsidian: $400,000 (8% back in rewards)
  • Frosted Rose Gold & Icy White: $40,000 (5% back in rewards)
  • Royal Indigo & Jade Green: $4,000 (3% back in rewards)
  • Ruby Steel: $400 (2% back in rewards)
  • Midnight Blue: $0 (1% back in rewards)

The “CRO Stake” is the total value of your Crpto.com App Wallet. Moreover, the Crypto.com Prepaid Visa Card also offers additional benefits for Spotify, Netflix, Amazon Prime, Expedia, and Airbnb customers (terms apply), which the BitPay Card does not.

#4. Gemini Credit Card vs. BitPay Debit Card

The Gemini Credit Card is another viable option forcrypto investors and enthusiasts who are looking for an alternatives to the BitPay Card.

With Gemini, Cardholders will earn up to 3% back in Bitcoin or any other crypto available on the Gemini Exchange.

While the Credit Card is currently only available via the wait list, the card will be available in all 50 U.S. States, has no annual fee, customizable, and compatible with Google Pay and Apple Pay.

>> More: Gemini Credit Card Review and Gemini Review

BitPay Card FAQs

Is the BitPay Card Available to United States Residents?

Yes. The BitPay Card is available exclusively to U.S. Residents. This means it is not available to those living in Australia, Europe, Canada, or Asia.

Does BitPay Have Account Limits?

Yes. The BitPay Card has ATM Withdrawal limits, load limits, spending limits, and a maximum balance limit.

  • ATM Withdrawals: $2,000 per withdrawal, 3 withdrawals per day. This totals to $8,000 per day.
  • Load Limits: $10,000 Per Day
  • Spending Limits: $10,000 Per Day
  • Maximum Balance: $25,000 Including Cash Loads

Is the BitPay Card Safe?

Yes! The BitPay Card is safe. Security is baked into the product. This means that BitPay employs multi-factor authentication, advanced encryption, and fraud protection.

How Do I Contact BitPay Customer Service?

Currently, the Cardholder Services Team works from 0800 AM – 1000 PM ET Monday – Friday and can be reached at 1-888-333-9446.

Does the BitPay Card Have a Mobile App?

Yes, the BitPay Card and BitPay Mobile App are one in the same. This means you can manage your BitPay Card and Balance all from one seamless mobile app.

Does the BitPay Card Charge a Monthly Fee?

No! This is one of the benefits of the BitPay Card. However, it does charge a foreign transaction fee, inactivity fee, and ATM Withdrawal fees.

Is the BitPay Card Free to Get?

No. It costs $10.00 for BitPay to issue you your own BitPay Card.

Bottom Line: BitPay Card Review

There you have it. These are the pertinent details you need to know about the BitPay Card. If you are looking for a prepaid card, then this is a great choice; however, be careful of the fees.

Those looking for a credit card should use either BlockFi or Gemini. And finally, if you want a classic debit card, then we recommend the Coinbase Debit Card.

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Jordan Blansit
Jordan Blansit

Jordan Blansit is a Senior Writer, Researcher, & Product Analyst for SimpleMoneyLyfe with an inexplicable predilection for mortgages, investing, and personal finance. When she’s not click-clacketing from the comfort of her living room, you can find her in the California Redwoods or Oregon Siskiyous. Jordan’s areas of expertise are mortgages, personal loans, credit cards, and investing.