Bitpay Mastercard Review

What is the Bitpay Mastercard Card?

The Bitpay Mastercard card is one of the many Bitcoin and cryptocurrency services provided by Bitpay. Although the company was originally founded as a Bitcoin payment processor back in 2011 (only two years after the creation of the Bitcoin network itself), they have launched a variety of other products and services since this time.

One of these products is the Bitpay Mastercard, which allows users to easily convert their crypto assets into spendable value on a prepaid Mastercard with the click of a button in the Bitpay mobile wallet. Combined with their app for iOS and Android, the platform enables users to manage all of their crypto financials in one easy-to-use interface.

Why Use the Bitpay Mastercard?

The biggest benefit of using the Bitpay Mastercard is that there are no exchange fees associated with converting some bitcoin into dollars and placing that value on the card. That said, they do add mining and network fees when you move funds onto the card. These fees vary from time to time, so users should regularly check the fees incurred when adding funds.

Another benefit of the Mastercard is that it is available in the United States. Many other prepaid crypto cards have avoided U.S. jurisdiction, but this card is available in all 50 states.

Bitpay is a also a reputable, trusted company that has been operating in the Bitcoin industry since 2011. No other companies offering Bitcoin prepaid cards have been around as long, which gives users a little extra peace of mind that they are secure and the provider knows what they’re doing.

A final plus of the card is that the ATM limits are quite high. While other cards are often limited at a few hundred dollars’ worth of withdrawals per day, Bitpay cardholders are able to withdraw up to $6,000 from ATMs per day. Of course, some may view this as a potential security issue in situations where their cards are lost or stolen.

Potential Bitpay Mastercard Dealbreakers

While there are no cashback rewards for using the Bitpay Mastercard, there is also no proprietary token associated with the overall platform, which helps users avoid the “Ponzinomics” associated with some of the other cards on the market. That said, some will still view the lack of a utility token as a dealbreaker.

This crypto credit card is also not free. It costs $10 to acquire, and this fee must be paid again should a user’s card be lost or stolen. There’s also a $5 inactivity fee charged to users if they do not use their card for a period of 90 days.

While it is a huge plus that the card is available in the United States, everybody else in the world is out of luck. That said, Bitpay has offered Bitcoin debit cards on an international basis in the past, and they plan to do so again in the future.

A final dealbreaker to consider is that the card does not support other cryptocurrencies. Only bitcoin can be used to load the card. Other crypto assets are supported on the greater platform, so it’s possible this policy could change in the future.

Is the Bitpay Mastercard Right for You?

The Bitpay Mastercard is likely best suited for Bitcoin purists who live in the United States. If you’re someone who likes to dabble in a wide variety of altcoins, then this definitely isn’t the crypto credit card for you.

If you live outside the United States, you obviously won’t be able to use the card. However, you should keep checking the Bitpay website to see when this changes, as the company is currently working on bringing their card to other parts of the world.

As always, it’s important to check out all of the different crypto debit card options available in your particular jurisdiction before making a final decision. That said, the lack of fees associated with converting bitcoin into U.S. dollars on a prepaid card is an extremely attractive offer to most people, even with the lack of cashback rewards. The high ATM withdrawal limits may also be too good for some Americans to pass up.