The company was formed in 2014 in Berlin. It is one of the pioneers, if not the first, in the Bitcoin debit card space. Bitwala caters to 200 countries with over 57,000 users and counting, worldwide. One of the biggest competitive advantage Bitwala enjoys is that it supports over 20 fiat currencies whereas most of its competitors only support a few. Being a prepaid card, it allows its customers to convert their cryptocurrency in real cash instantly upon withdrawal. The Bitcoin debit card is available for both business and personal use, making it a popular debit card among most professionals.
However, the card isn’t available for the general public at the moment due to their partnership ending with Visa. As per the officials, the debit card will soon be re-launched and available for use in 2019.
The Bitwala Bitcoin debit card offers a number of perks to its customers. Some of these are summarized below:
- Supports 20 fiat currencies and 40+ cryptocurrencies, making it one of the most flexible debit cards in the cryptocurrency space.
- Offered in over 200 countries.
- Features a user-friendly and straightforward interface on the website.
- Compared to its competition, it offers flexible rates price-wise.
- Offers a business card form of the Bitwala Debit card.
- Has great customer service which receives praise from customers.
- Availability of the debit card regardless of whether the user wishes to verify their identity or not.
- Transparency in their fee structures, providing users with reassurance.
- The company has a third-party exchange, potentially incurring additional costs.
- The Bitwala Bitcoin debit card isn’t available for use right now due to its ceasing of partnerships with Visa.
- The issuance fee of the Bitwala Bitcoin debit card is $2.
- There is a $1/month service fee.
- There is a $0.5 top-up fee every time the user loads the debit card.
- There is a 3% fee on international transactions.
- Domestic ATM withdrawals cost $2.50 whereas if you withdraw cash internationally, you have to pay $3.50.
- Bitwala’s Bitcoin debit card foreign exchange charge is 3%.
- Physical card: Yes
- Virtual card: Yes
- Card type: Visa
- Mobile app: Yes
- Supported cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC) and 40+ others
- Supported fiat currencies: USD, GBP, JPY, EUR, MYR, BRL, VND, AUD, MNX, and 20+ other currencies
- Anonymous: No
Bitwala Bitcoin debit card is a flexible debit card when it comes to cryptocurrencies. Offering its services to 200 countries allows it to enjoy a competitive edge. Whilst most other debit cards only offer Bitcoin as the primary cryptocurrency, Bitwala supports LTC and ETH as well. Professionals with an assorted cryptocurrency portfolio invest in the Bitwala debit card as it offers support for over 40 altcoins.
Once its contract with Visa is reestablished, the debit card will be available for use. For now, there are only 4 active debit cards in the cryptocurrency market and the Bitwala isn’t one of them.