BitPay Card Review: Pros & Cons, Benefits, Usability, Fees & Alternative
Choosing a new debit card is a complex process. Picking the best crypto card is even more difficult. However, we’ve looked at some of the best products on the market.
Throughout this BitPay card review, we’ll examine the card in detail, discussing its features, transaction fees, supported assets, usability, and accessibility while answering questions like, where is the BitPay crypto debit card available? Let’s get started.
Table of Contents
BitPay Crypto Card Key Takeaways
Key Takeaways
- The BitPay crypto card is a prepaid debit card enabling holders to spend their cryptocurrency in establishments that otherwise wouldn’t support the asset class.
- While the BitPay card offers crypto rewards on spending, offers are subject to change, and only select retailers are supported.
- The BitPay card can be funded using either the BitPay wallet or a Coinbase account, making it easier to top up than some alternatives.
- Although the BitPay debit card is available to residents of all 50 US states, it’s unavailable internationally.
- Despite boasting high ATM withdrawal limits, the BitPay card charges a fixed fee of $2.50 on all withdrawals, reducing cost-effectiveness.
- Users can top-up their BitPay card using 15 cryptocurrencies, including Bitcoin, Ethereum, and a selection of stablecoins.
BitPay Card Quick Summary
- Prepaid crypto debit card
- Only available in the United States
- Card issued by Mastercard
- 15 cryptocurrencies can be used for top-ups
- Crypto rewards for spending with specific merchants
- High ATM withdrawal limits
| Features | High Withdrawal Limits, Earn Crypto Rewards, Spend Crypto Easily |
| Rewards | Variable Based on Merchant |
| Availability | Available in All 50 US States |
| Funding/Top-Up Methods | BitPay Wallet, Cryptocurrency, Coinbase Account |
| Supported cryptocurrencies | BTC, ETH, BCH, DOGE, SHIB, APE, LTC, MATIC, EUROC, GUSD, USDP, WBTC, BUSD, USDC, and DAI |
| Fees | ATM Withdrawals $2.50, Foreign Conversions 3%, $5 Inactivity Fee |
| Benefits | Streamlined Crypto Conversions, High Load Limit, Transparent |
| Limits | Total ATM Withdrawals, Withdrawal Frequency, Card Funding |
| Withdrawals | ATM Withdrawals |
| Global Acceptance | Accepted at 100+ Million Merchants |
| Security | SSL Encryption, 2FA, Change Pin |
BitPay Card Explanation
The BitPay card is a crypto debit card that allows people to spend Bitcoin and altcoins in places like shops and bars. The card can be funded using the BitPay wallet app or a Coinbase account, making it easy to top up. While the card doesn’t offer many benefits, users can attain crypto rewards for using the card at select merchants.
How Does The BitPay Card Work?
The BitPay card is simple to use. After registering and verifying a BitPay account, any US resident can apply for the card (although it’s currently on a waitlist as BitPay has paused sign-ups). Then, you can use your BitPay Wallet or Coinbase account to top up the card and start spending.
Unfortunately, no fixed rewards are available, but users can earn variable cashback rewards when using the card with select merchants like Adidas or Costco.
- Multi-Funding Methods: Unlike most crypto credit cards we’ve looked at, the BitPay card can be funded using your BitPay wallet or Coinbase account, making it easier to top up.
- Earn Rewards: Users can earn rewards by shopping at select retailers.
- US-Only: The BitPay card is only available in the US, so internal customers must select a globally available option, like the Crypto.com card.
BitPay Card Alternative
swissmoney is a leading alternative to the BitPay prepaid debit card. The financial services platform offers a physical and virtual crypto card, a built-in trading desk, and dedicated IBAN accounts for sending SEPA transactions. With a swissmoney account, users can seamlessly store and send USD, GBP, EUR, and CHF, making it great for people who frequently travel.
Moreover, swissmoney boasts no hard limits, making it ideal for anyone wishing to conduct large transactions like paying rent or purchasing a vehicle. The platform includes a full suite of crypto-management tools, streamlining the process of monitoring your funds or swapping between crypto and fiat currency.
swissmoney offers several benefits over the BitPay card, including:
- Money Transfer: While BitPay lets people pay bills using crypto, users cannot transfer money to an external account. However, as swissmoney supports SEPA transactions, users can send money to virtually anyone, anywhere.
- Global Availability: While writing our BitPay card review, we found that the card is only available in the US. In contrast, swissmoney is available worldwide, including in Europe, making it much more widely accessible.
BitPay Card Tiers and Features Comparison
In contrast to some of the best crypto debit cards on the market, the BitPay card has only a single tier. As such, every cardholder enjoys the same features. While this approach means BitPay doesn’t alienate anyone, it may deter power users hoping to get extra benefits from signing up.
- Manage From Desktop or Mobile: Many crypto debit cards can only be managed from mobile. Users can control BitPay’s product via the desktop site or the BitPay app.
- Cashback Rewards: Anyone with a BitPay card can earn rewards using crypto payments at many retailers. Offers and reward rates change frequently to keep things fresh.
- Pay Bills: BitPay users can use the Bill Pay feature to pay credit card statements, mortgages, student loans, and other bills. However, users can only use crypto held on the platform to pay bills; funds cannot be taken from the BitPay card.
The BitPay card lacks many features other than converting and spending crypto. Users can access a crypto wallet, conduct cryptocurrency payments, earn crypto rewards, and withdraw cash from an ATM. However, no additional features are present.
BitPay Card Pros & Cons
| BitPay Pros | BitPay Cons |
| Spend Crypto Anywhere That Accepts Mastercard | Only Available in the US |
| Earn Crypto Rewards | No Free ATM Withdrawals |
| High ATM Withdrawal Limits | High Fees |
| Available in All 50 States | Not Many Features |
| Can be Funded Via Coinbase | |
| Reasonable Selection of Supported Cryptos |
BitPay Benefits in Detail
While BitPay lacks unique features, the platform still offers several benefits tailored to people looking to turn Bitcoin into cash instantly. As everyone is different, it’s critical to consider any benefits or limitations and weigh them against your individual preferences.
Accepted By 100+ Million Merchants
Although the BitPay card is only available in the US, Mastercard issues the product, meaning it can be used at 100+ million off and online retailers. With Mastercard boasting one of the world’s most extensive payment processing services, the BitPay card is a strong choice for people looking for a widely accepted and easy-to-use crypto debit card.
Convert Crypto to Fiat
One of the largest benefits of using BitPay is the convenience of converting your crypto assets to fiat currency for spending. Users can load their cards via the website or the BitPay app. Additionally, users can fund their BitPay wallet using Wyre or a Coinbase account, vastly increasing the ease of topping up.
High Withdrawal Limits
Another reason many US crypto holders flocked to the BitPay card is its impressive withdrawal limits. Users can withdraw up to $2,000 during a single transaction, a maximum of three daily withdrawals, and a daily withdrawal limit of $6,000.
Compared to traditional debit cards and some crypto cards, BitPay offers much larger limits. As such, the BitPay card is excellent for people wanting to cash out Ethereum or other cryptos in large quantities.
BitPay Limitations and Drawbacks
If you want to spend Ethereum or other cryptocurrencies, the BitPay card is an excellent choice. That said, you should be aware of a few drawbacks before applying for the product.
Only Available in the US
The most significant limitation of BitPay is that the card is only available to US residents. The BitPay card can be used globally, but non-USD transactions will be subject to a foreign currency fee of around 3%. While the card is attainable in all 50 states, European crypto fanatics must use an alternative, like swissmoney or a Nexo card.
ATM Withdrawal Fee
One of the most critical aspects of any crypto card is the ability to withdraw funds from an ATM. Unfortunately, BitPay charges a premium for the service. Users wishing to withdraw cash will be charged a fixed fee of $2.50. Thankfully, the ATM withdrawal fee is the same in and outside the US.
Non-Fixed Rewards
BitPay offers a crypto rewards scheme, enabling users to earn crypto to spend at select retailers. However, the platform doesn’t provide fixed rewards, and offers are always subject to change. Therefore, keeping track of the available rewards can be challenging, making the system difficult to rely on.
BitPay Card Fees and Rates
Knowing any fees is crucial before applying for a specific crypto card. Otherwise, you could be caught paying more than expected for a service, reducing cost-effectiveness. While BitPay is transparent with its charges, there are several charges to be aware of.
| Fee Type | Fee Amount |
| Network Fee | Variable |
| ATM Withdrawals | $2.50 |
| Currency Conversion | 3% |
| Inactivity Fee | $5 Monthly After 90 Days Inactivity |
Transaction Fees
The transaction fees charged by BitPay are straightforward. The platform charges users a 3% fee for out-of-country purchases to cover currency conversion costs. However, users can spend crypto in the US without worrying about transaction fees.
Account Fees
In contrast to some cards we’ve reviewed, BitPay charges very few fees for account and card management. The platform offers free physical card issuance and no annual fees. However, BitPay charges a $5 monthly inactivity fee to users who have not used their card for over 90 days.
Fees Overall
BitPay is highly competitive regarding fees. While the company doesn’t offer a particularly advanced array of features, it charges only a few reasonable fees. While users are on the hook for network fees, the BitPay card is exceptionally cost-effective. However, it does fall behind options like swissmoney for foreign transactions.
BitPay Card Limits
The BitPay card boasts high limits, appealing to anyone wishing to conduct high-value transactions. BitPay enforces very few limits, but there are a few to consider before applying for the card.
| Limit Type | Limit Amount |
| ATM Withdrawal Amounts | $2,000 Per Transaction, $6,000 Daily |
| Daily ATM Withdrawals | 3 |
| Card Loading | $10,000 Daily |
| Card Balance | $25,000 |
BitPay’s limitations apply mainly to daily thresholds to keep users secure and prevent money laundering. That said, BitPay has a substantial $10,000 daily load limit. However, this figure is less than 50% of the Crypto.com card’s €25,000 daily load limit.
- Competitive Limits: Compared to other crypto debit cards we’ve looked at, like the Crypto.com and Nexo cards, BitPay has extremely competitive limits that should suffice for most users.
- High Withdrawal Limits: The BitPay card enables high-value withdrawals. Users can withdraw up to $6,000 daily, far higher than the typical $1,000 to $2,000 most crypto cards offer.
- Few Limits: While some platforms enforce strict limits on many actions, BitPay is very liberal with its thresholds. Only a few activities have limits in place to protect cardholders.
BitPay Card Rewards
BitPay partnered with Dosh to create a rewards system for users. While there are no fixed rewards for spending, users can browse through a selection of offers at retailers, including Costco and Office Depot.
Users can earn cashback at many retailers, including local giants and obscure niche stores. Rewards differ from merchant to merchant; some require spending a certain amount. As the available offers can vary, BitPay’s cashback rewards shouldn’t be a primary decision-making factor when determining whether the card is right for you.
- Partnered with Dosh: BitPay’s rewards scheme is powered by a strategic partnership with Dosh. As a third party provides the service, BitPay has less control over it.
- Variable Rewards: There is no fixed cashback reward on all purchases. You must browse the available offers and decide whether one appeals to you to earn a reward.
BitPay Card Withdrawal
The BitPay card only comes in a single tier, so every user enjoys the same withdrawal limit. BitPay’s prepaid debit card has massive withdrawal limits compared to other options. Prospective cardholders should note that once a BitPay card is loaded, an ATM withdrawal is the only way to turn the funds into cash.
| Withdrawal Type | Daily Limit | Weekly Limit | Monthly Limit |
| ATM withdrawal | $6,000 | $42,000 | $180,000 |
| Total Withdrawals | 3 | N/A | N/A |
- Limits: The BitPay card boasts high withdrawal limits, making it an excellent choice for converting large amounts of cryptocurrency into physical cash.
- Withdrawal Costs: Unfortunately, the BitPay card doesn’t offer free withdrawals. Users will be charged $2.50 every time they wish to withdraw. While unlikely to affect large withdrawals, the fee could eat into smaller transactions.
BitPay Card Supported Cryptocurrencies
BitPay cardholders can fund their cards using Bitcoin and major altcoins, such as Ethereum, Bitcoin Cash, Euro Coin, and Shiba Inu. As users have plenty of funding options, including a mixture of cryptocurrencies and stablecoins, they have plenty of ways to fund the card, making it more widely accessible.
Based on research for our BitPay review, we found that the crypto card supports 15 crypto assets in total: BTC, ETH, BCH, DOGE, SHIB, APE, LTC, MATIC, EUROC, GUSD, USDP, WBTC, BUSD, USDC, and DAI.
- Number of Assets: BitPay lets users deposit a selection of 15 cryptocurrencies. However, other products, like the Nexo and Crypto.com cards, support several times more assets.
- Type of Assets: BitPay lets users deposit a mixture of cryptocurrencies like Bitcoin and stablecoins like USDT. As such, BitPay is available to crypto users in the hopes of profiting and people holding wealth in tokenized currency.
BitPay Card Global Acceptance
A significant disadvantage of BitPay is its global availability. Unfortunately, the BitPay debit card is only available in the US. While residents of all 50 states can apply for the card, international clients must find another way to spend Bitcoin and crypto.
Although the card is only available in the US, holders can use it globally. Because Mastercard issued the BitPay card, people can use it to complete transactions at any of the 100+ million merchants that accept Mastercard.
- Only Available in the US: Unfortunately, the BitPay card is only available to US residents. Moreover, BitPay has paused sign-ups while it upgrades the service.
- International Transactions Supported: Despite only accepting US clients, the BitPay debit card can be used globally anywhere that accepts Mastercard.
BitPay Card Security and Reliability
As BitPay handles customer funds, security is one of the platform’s most critical aspects. BitPay’s security measures can be divided into account-centric measures and card-focused security.
Account Security
While BitPay keeps many protective measures secret, the company offers Two-Factor Authentication and SLL encryption. However, it would be nice to see the company implement address allowlisting and an IP address log for account sign-ins. Since launching in 2011, BitPay was hacked once in 2014, leading to a loss of 5,000 BTC, worth $1.8 million.
Card Security
The BitPay card also boasts its own security measures. The card benefits from the same protections every Mastercard product offers. Users can also change their PIN at will and monitor transactions online or from the mobile app, making it easy to keep track of the card.
BitPay Card Areas of Improvement:
BitPay is a solid platform that facilitates its core service well. It is well-designed, easy to navigate, and highly transparent. However, BitPay could improve in a few key areas.
International Service
While the BitPay card serves the 300+ million people residing in the US, it’s not available to international customers, alienating billions more. If BitPay could implement support for Europe and the rest of the world, the card would likely experience a surge of users.
Free Withdrawals
It’s indisputable that the BitPay crypto card boasts impressive withdrawal limits. However, users must pay a hefty $2.50 fee for every ATM visit. BitPay’s introduction of free withdrawals would benefit all users and attract new customers. Even one free withdrawal per day would make the service much more attractive.
Additional Benefits
While the BitPay debit card enables users to spend their crypto and earn rewards at select retailers, it lacks the additional benefits offered by some other crypto debit cards. As such, it would be nice to see BitPay introduce a few extras, like multi-currency support or a way to spend without selling, like Nexo’s Credit Mode.
How to Top Up BitPay Card
Top Up from Fiat Wallet
Step 1: Add fiat to BitPay using a card or wire transfer.
Step 2: Convert the fiat to a supported cryptocurrency.
Step 3: Use the crypto to top up the BitPay card.
Step 4: Active your card and use it for spending.
Fees: Variable conversion and network fees
Top Up via Credit/debit Card
Step 1: Use your debit or credit card to deposit funds to BitPay.
Step 2: Buy a cryptocurrency supported by the BitPay card.
Step 3: Top up your BitPay card using the crypto.
Step 4: Activate your card and start spending.
Fees: Credit card deposit fee. Variable conversion and network fees
Top Up via Crypto
Step 1: Check whether your crypto is supported by the BitPay card.
Step 2: Deposit and convert your crypto to a supported asset if needed.
Step 3: Use the funds to top up the BitPay card.
Step 4: Activate the card and use it for everyday spending.
Fees: Variable miner fees and conversion fees
Is a BitPay Card worth it?
The BitPay card is a well-designed crypto card that enables users to spend Bitcoin and altcoins in establishments that typically only accept traditional credit/debit cards. The BitPay card supports crypto rewards on spending, high ATM withdrawal limits, and a reasonable selection of supported assets, making it a solid all-around crypto debit card.
While the BitPay debit card is a reasonable option for anyone looking for a crypto card, it is unavailable outside of the US, meaning international customers must use an alternative product like swissmoney. Furthermore, BitPay charges a fee on all ATM withdrawals, which could eat into smaller transactions.
Based on the research conducted for our BitPay card review, we found the product to be a sound, no-frills crypto debit card. However, an alternative like swissmoney will better serve you if you’re based outside the US or looking for additional benefits or free ATM withdrawals.
Can a BitPay card be used anywhere?
Users can transact with the card virtually anywhere. Although some countries and merchants will not accept the prepaid crypto card, it is supported in over 200 countries worldwide. Mastercard is the world’s largest payment processing network, meaning the card is widely usable.
How do you withdraw money from a BitPay Card?
BitPay cardholders can withdraw money from any ATM that supports Mastercard transactions. Once you’ve funded the card, simply visit an ATM and complete a withdrawal like you would using a traditional debit card. No other withdrawal methods are available.
Can I use my BitPay card at an ATM?
Yes, anyone with a BitPay card can withdraw cash from an ATM. The card can be used at any ATM that supports Mastercard transactions. However, unlike most other crypto cards we’ve looked at, the BitPay card doesn’t offer free withdrawals. As such, you must pay a $2.50 charge for every withdrawal.
Is BitPay card free?
The BitPay card has no issuance fee. Users with a verified BitPay account who reside in the US can apply for a BitPay card free of charge. Unfortunately, sign-ups are paused, but eligible users can join the waitlist.
Why use a BitPay card?
There are many reasons to use a BitPay card. Most users will consider the product because they want to use their crypto for everyday spending. However, users may also want to participate in the Dosh-powered rewards program.
How Do I Get a BitPay Card?
To get a BitPay card, users must complete the verification process and the application. If approved, BitPay will ship out the card. However, applications for the BitPay debit card are currently paused, so users requiring a crypto card ASAP may prefer an alternative, like swissmoney.
How long does it take to get a BitPay card?
Based on reviews from verified users, we found that it takes around one to four weeks to receive a BitPay card. However, it’s critical to note that the platform has paused new sign-ups pending an upgrade, so the wait time for new users could be far longer than usual.
How do I use the BitPay card?
Using the BitPay card is simple and will quickly become second nature. Fund the card using a supported currency in your BitPay wallet or Coinbase account, confirm the transaction, and start using crypto for everyday purchases.
Is BitPay trustworthy?
BitPay has been operating since 2011 and has built some impressive strategic partnerships over the years. The platform is used and trusted by millions of crypto enthusiasts globally. However, BitPay was hacked in 2014, so it’s worth exercising care when using a BitPay card.
Is the BitPay card suitable for crypto newcomers or those with limited experience?
The BitPay card is straightforward to understand compared to other crypto debit cards. There are no complex loyalty programs or advanced features, so It is accessible to just about anyone, regardless of experience.
How do BitPay cards compare to other crypto cards?
Compared to other crypto cards, BitPay’s product is far simpler. While it provides the same core function, using crypto for everyday spending, it lacks the frills of alternatives. Moreover, unlike other products, the BitPay card charges fees on every withdrawal. Ultimately, the BitPay card is a basic option compared to other cards.
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