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CoinsBank Bitcoin Debit Card Review

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CoinsBank Review

Located in Edinburg, CoinsBank was established in 2013 by Ronny Boesing. The company offers Bitcoin debit cards and also supports Litecoin. The firm also offers exchange services along with digital wallets for its users. The company has an up and running mobile to track your balance on the go. One of the biggest features that differentiate it from other debit card issuer firms is that it allows its users a wide range of supported fiat cryptocurrencies.

In this article, we shall review what more it has to offer to its clients, drawbacks and fee structures associated.

Advantages

  1. It has an e-wallet for keeping tabs on the balance.
  2. The user-friendly mobile app also makes it convenient.
  3. Users enjoy strict security measures to ensure their cryptocurrency remains safe.
  4. The debit card allows cryptocurrencies to convert instantly.
  5. The debit card supports a number of fiat currencies including USD, EUR, GBP, AUD, RUB, and JPY etc.
  6. The biggest perk is that users can receive instant crypto cash-back when using it in store.

Disadvantages

  1. The company lacks transparency when it comes to determining who runs the firm.
  2. The prices are considerably higher, which makes the card inconvenient for many users. Many users have also lodged online complaints regarding this. However, the company hasn’t done anything so far to resolve the issue.
  3. The company offers free shipping but only to premium cardholders, which is, again, a drawback.

CoinsBank Bitcoin Debit Card Charges

  • The company offers more than one type of debit card. The prices range from $2.95 to $1,000 as issuance fee.
  • To use the physical debit card, users have to pay $14.95 as an activation fee.
  • The CoinsBank debit card also has a monthly maintenance charge ranging from $0.95-$2.95.
  • There is a $3.95 charge for domestic ATM withdrawals which is one of the highest we have seen so far. International ATM withdrawal costs $4.95.
  • There is also a POS charge that ranges from $0.95-$1.99.
  • Finally, currency conversions cost at 2.5 to 3%.

Summary

  • Physical card: Yes
  • Virtual card: Yes
  • Card type: Visa
  • Mobile app: Yes
  • Supported fiat currencies: EUR, GBP, RUB, AUD, YEN, and USD
  • Supported cryptocurrencies: Bitcoin (BTC) and Litecoin (LTC)
  • Anonymous: Yes

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Final Word

If we talk about versatility, this debit card has a lot to offer. Professionals and travelers find is an extensive range of currencies to be extremely handy and practical. The users also have the choice to decide which type of card they want. There are premium features for premium users. However, if we compare its prices with other debit card issuers, CoinsBank debit card is quite pricy. There is even a shipping fee for the card which is mostly free of cost with other debit card issuers. Only premium cardholders can get free shipping. Not to mention, the POS and ATM withdrawal charges, which are hefty too. However, all these drawbacks can’t stop the people from investing in one since it also allows users to take cryptocurrency cash-back when using it in a store.

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.