CryptoPay is a technically not an e-wallet, but rather a debit card where you can store Cryptocurrencies! The innovative idea has really taken off. While there are similar companies providing this service, CryptoPay is known to be the trailblazer in the industry and has built up a trustworthy reputation.
Wallet and Cards
With CryptoPay, you have the choice of applying for a physical, plastic chip card (which will arrive in the post) or a virtual card which you can use for online payments- or both, which will be linked. Both have their own applications, and if you are hesitant to get a chip card, you shouldn’t be, CryptoPay ships their cards around the world for free!
CryptoPay comes in Fiat currencies of GBP, USD, and EUR. The cards provide ultimate convenience for travelers that use Cryptocurrency for payments. The cards are affiliated with MasterCard so the cards should be accepted at most establishments.
Because of the nature of the crypto world, Cryptocurrency-related products need to have high levels of security and CryptoPay is no different. CryptoPay has joined forces with BitGo to bring users the FLEX wallet. BitGo is known for being highly secure as they use multi-signature technology to secure all of their transactions and logins.
Any transaction made undergoes all the standard fraud checks, making it nearly impossible for hackers to access users’ funds.
CryptoPay does have a fee structure in place, but compared to similar services, their fees are minimal. There is a monthly fee of $1 that is taken off directly from your account. The best part about CryptoPay’s fee structure is that all point of sales transactions are free of charge! Below are a few examples of the fees you can expect to pay when using CryptoPay:
• Domestic withdrawal – $ 2.50
• International withdrawal – $3.50
• Issuance fee – plastic: $15
• Issuance fee – virtual: $2.50
Because CryptoPay is still a relatively small company, they have very personal customer relations. Upon signing up for CryptoPay, you’ll receive an email from Aelesky – the client relationship manager. Aelesky deals with the majority of customer inquiries and it is great to have a direct point of contact. Other than that, most FAQs have been laid out on their website, so if you think you have a common query – it may do you good to have a look at FAQs before emailing for help.
Summary of features
• Virtual or physical crypto card
• Physical card can be used at card machine facilities
• Virtual card can be used for online purchases
• Works in conjunction with BitGo to bring users FLEX wallet
• Safe and secure payment option
• Widely accepted payment option
• Minimal Fees
• Personal support structure
• Lenient Limitations
• Web-based mobile application available
Having a physical card that has cryptocurrency loaded on it is extremely convenient and still relatively unheard of. Experts in the industry suggest that it’s the next big step for Cryptocurrencies and plastic cards filled with Bitcoin funds will be a common phenomenon in the future.