What is AdvCash?
AdvCash is short for Advanced Cash and is the name of the Belize-based business behind it. The company is a daughter company to Wave Crest Holdings Limited, which is a household name in the Bitcoin debit card space. Various card companies partnered with Visa through Wave Crest. That partnership ended at the start of 2018 which left much of the competition scrambling for solutions. Surprisingly, the card provided by AdvCash is not Visa, but rather MasterCard. The main focus of the business is to accommodate freelancers and digital professionals. The map enabled their employers to pay them quickly and at a low cost.
Benefits of AdvCash
The AdvCash card features an e-wallet that makes transferring Bitcoins a fast and easy process. The business sets itself apart from the competitors by supporting a few payment services. These include OKPay and Perfect Money. AdvCash also supports SWIFT and SEPA transfers, much like your bank account does. All internal transfers are free, and there is no monthly maintenance charge. Account security is excellent, with multiple tiers of security. Lastly, Russian AdvCash users enjoy the added benefit of RUB as a supported currency.
Downsides of AdvCash
The AdvCash card, regrettably, does not include a mobile app, which is somewhat impractical. A lot of other Bitcoin card companies use an app to manage the card. The card is presently just offered to Russian and European residents, which is terrible news for the rest of us. The website does not have a whole lot of info about who is behind the company. Having some insight into the management would be helpful. Verified AdvCash users still face some limitations on purchases, although they are higher than unverified users.
The physical card only costs $5 if you buy it instantly after setting up your account. The rate goes up to $15 after one week of producing your account. The virtual card costs $1. Using either card in both online and physical stores is free. It costs $1 every time you add more funds to your e-wallet. The ATM withdrawal cost for domestic ATMs is a flat rate of $2, which is cheaper than the competition. Foreign transactions and currency exchange are charged at a rate of 2.95%. There is no monthly service fee, which is quite uncommon with Bitcoin cards.
- Card type: MasterCard
- Virtual card: Yes
- Physical card: Yes
- Mobile app: No
- Supported fiat currencies: GBP, EUR, USD, and RUB
- Supported cryptocurrencies: Bitcoin (BTC).
- Confidential: Yes.
AdvCash has received a lot of criticism on online evaluation sites like TrustPilot, averaging about 2.5 out of five stars. AdvCash appears to be a good overall option for European and Russian users. However, the lack of reach is a disadvantage. The AdvCash card does come with some unique advantages that make up for this lack of reach, however.
Have you used the AdvCash card? Share your experiences with us in the comments sections below!