The increasing popularity of cryptocurrency trading has enabled a large number of investors to invest and make good profits in the market of asset trading. But even after making huge profits, one cannot use his crypto assets to buy something in day-to-day life as cryptocurrencies are not widely accepted in the open market throughout the world. In this situation, nothing can be better if you can convert your cryptocurrency into an easily acceptable currency to buy some products and services. Cryptopay has made it possible for you. Cryptopay is a debit card that you can use to buy something by using your crypto money. The Cryptopay review provided in this write-up will help you to know it more closely.
What is Cryptopay?
Cryptopay is a debit card that allows you to use four types of cryptocurrencies including ETH, BTC, XRP, and LTC to convert them into fiat currencies like GBP, USD, and EUR so that you can buy anything from the open market anywhere in the world. In the future, it may support several other cryptocurrencies.
Being a VISA card you can use the card of Cryptopay at any point of sale where VISA cards are accepted. Though being a VISA card Cryptopay will be accepted throughout the world but US residents may not be able to use it as VISA cards are not acceptable in the US.
Fees for using Cryptopay
One can use Cryptopay against a few types of fees including an issuance fee, a monthly fee, spending fee and ATM usage fee. The UD$15 is its issuance fee, and UD$1 is its monthly fee. The fee for spending through this card is 3$ of the value of the items purchased, and for every use on the ATM, you will have to pay US$3.50.
More details about the fee of Cryptopay
For Cryptopay a very moderate and balanced fee structure has been adopted. You can use this card freely after paying these fees.
The monthly fee of US$1.00, GBP1.00 or EUR1.00 is in accordance with the average fees charged in this industry.
The US$15.00, GBP15 or EUR15 is the one-time fee that will be charged according to the standards of the industry while issuing this card.
The fee for using this card on an ATM has been fixed at US$3.50. Though it is a bit high than the use of domestic ATM cards i.e. US$2.50, still it is very competitive to the fee charged by the other debit cards for cryptocurrencies as they charge a certain percentage of each withdrawal transaction.
Moreover, the fee for spending is the most important one for Cryptopay. It means you will have to spend 3% more on buying anything from the market. Though this fee is a bit higher than the average fee in this industry still it is charged by this debit card for its services.
To use this card the maximum deposit per day in the verified accounts should be UD$20,000 whereas for unverified accounts US$1,000.
After going through Cryptopay review provide din this wrote-up you can easily know that Cryptopay can be the best choice for you if you want to use your cryptocurrency to buy something from the open market.