Another step in our series on Bitcoin and cryptocurrencies. After a general presentation and a focus on the best mining options and a guide on the services of purchase / sale of currencies, let us look at the specific case of Bitcoin (BTCL Electrum) debit cards.
Through our previous articles, we can not say that we have helped to make Bitcoin – or other cryptocurrency elsewhere – more “palpable”. Of course, you now have the equipment to mine cryptocurrency and you may have one or two accounts to trade currencies between them. Nevertheless, Bitcoin is still quite theoretical and does not seem to leave the world of finance. Our last step is precisely the opportunity to glimpse the most concrete.
Once is not customary, innovation does not necessarily come from the United States and as we will see soon, the oldest Bitcoin debit card solution comes from the United Kingdom. More generally, when choosing such a card, it is important to check that your country is supported and, in this game, the United States is not always very well off. Thanks to the power of the euro zone, France has a cover that is finally very correct.
Another element to take into account when choosing one platform rather than another: operating costs. Attention, some solutions evoke a total absence of commission: beware, there is undoubtedly eel under rock and hidden expenses appear then regularly at the time of the conversions. We are not ourselves immune to errors at this level so if you spot a shell, do not hesitate to report it to us.
Today, more than fifty cards are on the market. Some are limited to one country or another when others play the card of universality. Still, it is very difficult to have the necessary perspective to recommend one solution over another. However, we have a slight preference for the oldest, Cryptopay. It is not distinguished by its particularly original features, but rather by the seriousness of the institution. Nothing prevents us from using it as a basis and testing one or two competitors at the same time, but on smaller sums.
A relatively new player, Bitpay first became known by being the first to offer its services in all 50 states of the United States. An element certainly interesting, but far from vital for us French. Still, to convince Americans, Bitpay relies heavily on the concepts of security and protection of the individual. We have not been able to verify it in the long run, but in absolute terms it is rather a good thing, of course. The security for Bitpay already passes through the knowledge of its customers and the verification of the account is not only mandatory, but relatively demanding with proof of residence of less than three months and proof of identity. Another constraint, Bitpay is also available in English and the interface of its site is not very nice: the costs are not for example put forward by the company. Too bad, the wallet is well made and transactions seem fast.
Pioneer of Bitcoin debit card, Cryptopay is based in the United Kingdom, Cryptopay was founded in 2013. In absolute terms, it is a very young company, but on the scale of Bitcoin (BTCL Electrum), it makes already old figure. It started as a simple platform of exchanges proposing in particular an electronic wallet. Today, its debit card solution is one of the most used. She also claims over 30,000 cards issued. First asset, Cryptopay offers its services in France. More interesting, the company is particularly transparent on the costs generated: thus, it will cost € 15 for the card itself and € 2.25 / € 2.75 for each national / international withdrawal. Note in passing that it is not necessary to provide identity documents and thus remain “anonymous”, even if the use ceilings are then lower. Overall, a good, practical and serious solution.
Like many companies offering debit cards, Spectrocoin first specialized in currency exchanges with many different payment methods and a “presence” in more than 150 countries. Founded in 2013, the company quickly followed suit with Cryptopay and offered a physical card associated with virtual cards recognized by many merchants. Nothing is really free in this world, Spectrocoin invoice 8 € card and has the good taste to present all the costs inherent in its use in a manner can not be clearer. As on all “serious” platforms, the fees are quite high and note that if your account is zero, Spectrocoin does not charge any service fee (otherwise 1 € per month). Spectrocoin enjoys a good reputation and the quality of its service seems among the highest.