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 (burgers, jeans, cell phones, etc.) with your crypto assets. This is a review of Bitnovo – one of the many crypto debit cards.
Bitnovo supports these cryptos: Bitcoin, Ethereum, Litecoin and DASH.
The card will most likely support even more cryptocurrencies in the future.
With respect to fiat currencies, Bitnovo supports only EUR.
Bitnovo is a VISA-card, meaning that you can use the card at any point of payment that accepts VISA. This is of course a great advantage, seeing that VISA is the most widely accepted card in the world (alongside 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.
Picture of Card
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ATM-usage results in a fixed fee of EUR 1.00 on the withdrawn amount.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 are maximum deposit levels. These levels differ, depending upon whether you have a Basic Level-card, a Plus Level-card or a Premium Level-card, as follows:
Basic Level: EUR 250 (one-time)
Level Plus: EUR 1,000 per day
Premium Level: EUR 5,000 per day
If this is the crypto debit card for you, congrats!
If not, check out one of the other cards in our crypto debit card list. Good luck!