SatoshiTango Card Review
A common argument for regular money (also known as fiat currency) as opposed to cryptocurrency is that you can’t use cryptocurrency to buy groceries and other everyday items. Well, through the use of a cryptocurrency debit card, you can. This is a review of SatoshiTango, one of the crypto debit cards out there.
When we first wrote this review (early 2018), SatoshiTango was primarily promoted as a card. From what we can see today, on the date of last updating this review (13 January 2021), it is more geared towards being an exchange platform. When you sign up to the exchange, the company can issue a card (plastic or virtual). Thereafter, you can load the card through the balance you have on the exchange.
The app had on 8 January 2021 been downloaded more than 50,000 times. According to stats from SatoshiTango's website from the same date, they had 250,000+ users and presence in 33 different countries.
SatoshiTango supports Bitcoin, Litecoin, Ethereum, Bitcoin Cash, USDC, Ripple and - the latest addition to the group - Dai. It is not unreasonable to believe that the card company will expand the selection of supported cryptos in the future though. With respect to fiat currencies, SatoshiTango supports the EUR and the USD.
SatoshiTango 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).
Even though SatoshiTango "ships worldwide", US-investors may not use this card. So if you’re from the US and you’re looking for a crypto debit card, please refer to our Crypto Debit Card List to find one for you.
Picture of Card
SatoshiTango Card Fees
We think that SatoshiTango charges competitive fees.
The monthly fee is USD 1.00, which is manageable for most card users. There is an issuance fee set to USD 15.00, which is also in line with industry average.
ATM-usage results in a fixed fee on USD 3.50 for each withdrawal. This might be a bad deal in countries where the normal ATM-machines only allow smaller withdrawals (USD 20 for instance). In such scenarios, in order to withdraw a larger amount you need to withdraw several times, thus triggering the fixed fee each time. Usually, however, you can go to a bank to withdraw higher amounts in a more efficient manner.
Furthermore, the most important fee of them all, the commission on spending. SatoshiTango sets you back 0.00%. There is no commission fee on spending. This means that if you buy a nice sweater for USD 100, this will reduce your crypto assets with USD 100. Nothing more, nothing less.
SatoshiTango does charge a deposit fee however amounting to 2.00% of the deposited assets. So you could argue that they do have a commission on spending, but that it is charged when loading the card.
Finally, the maximum deposit is USD 2,500. If you need a card with higher maximum deposit limits than that, don’t worry. Just have a look in our crypto debit card list to find another card for you.
Finally, if this is the card for you, congrats.
If not, you can also check out one of the other cards in our crypto debit card list. Good luck!