Wouldn’t it be nice if you could convert your crypto assets into everyday purchases and buy goods with bitcoin and other altcoins? Well, now you can. Just get a cryptocurrency debit card and buy also non-virtual goods (sandwiches, jeans, gardening supplies, etc.) with your crypto assets. This is a review of Bitnovo – one of the many cryptocurrency debit cards.
Bitnovo primarily supports the following cryptocurrencies:
The card will most likely support even more cryptocurrencies in the future.
With respect to fiat currencies, Bitnovo supports EUR (we have not found any information on any other supported fiat currency, but that doesn’t guarantee that there are none).
Bitnovo is an EFTPOS-card. EFTPOS stands for Electronic Funds Transfer at Point of Sale and denotes an electronic payment system. It comes from USA and initially rolled out in 1982. See more about EFTPOS here. EFTPOS-cards can be used essentially everywhere and doesn’t limit the card holder in any substantial manner compared to holding a Visa-card or MasterCard.
US-investors may also use this card.
Final thing worth noting here under the general information chapter is that there is no binding time for this card. Whenever the customer wants to cancel it, he/she can cancel it.
We think that Bitnovo charges competitive fees. This means that the fees with this card is not a disadvantage to using it.
The monthly fee is EUR 1.20.
There is an issuance fee set to EUR 20.00. EUR 20.00 is above industry average (industry average is arguably around USD 15.00). However, when ordering a Bitnovo card you will receive in only 5 working days. This is very impressive indeed and is a possible explanation for the somewhat higher issuance fee.
ATM-usage results in a fixed fee of EUR 2.75 on the withdrawn amount.
Furthermore, the most important fee of them all, the commission on spending. Bitnovo – unlike most other cryptocurrency debit cards – does not have a percentage based commission fee. Their fee is instead fixed: EUR 1 per purchase. This is very competitive indeed.
Finally, there is no maximum deposit level. So if you want to deposit a lot of funds into a cryptocurrency debit card, this card could be what you seek.
If this is the cryptocurrency debit card for you, congratulations. If not, check out one of the other epic cryptocurrency debit cards in our cryptocurrency debit card list. Good luck!