Bitcoin payments processor BitPay has unveiled a new bitcoin debit card that will enable users to make payments at any Visa point-of-sale (POS) terminals and withdraw cash at Visa ATMs, anywhere across the United States.
BitPay has launched its new BitPay Visa card, a debit card that will be available for users in all 50 of the United States.
The payments provider also revealed that the bitcoin debit card can be loaded up to $10,000 per day in spendable funds with zero fees on bitcoin top-ups specifically. Notably, the BitPay card can also be reloaded with direct deposits from an employer.
Users will also be able to withdraw up to $3000 in cash from any Visa ATMs. Furthermore, BitPay states “since bitcoin deposits are credited to the BitPay Card’s dollar balance in seconds, there is no waiting on exchange fund transfers to clear cash out.”
ATM and over the counter withdrawals will incur a $2 fee, a currency conversion fee of 3% will be applied if the card is used outside the United States. Fees also apply for international ATM and over the counter withdrawals, declined transactions, ACH debits and more, further described here [PDF].
Also, there is a maximum card balance limit of $25,000, with a withdrawal limit of $750 per transaction.
The BitPay debit card is available for $9.95 and can be purchased with bitcoin. Users will get the card within 7-10 business days.
The BitPay debit card joins Coinbase’s Shift Visa card as US-issued bitcoin debit cards. However, BitPay’s debit card stands out in that it is available for users across all 50 states.
Images from BitPay.
Last modified: June 10, 2020 1:53 PM UTC