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 SatoshiTango – one of the many cryptocurrency debit cards.
SatoshiTango today only supports the Bitcoin. It is not unreasonable to believe that the card company will expand the selection of supported cryptocurrencies in the future though.
With respect to fiat currencies, SatoshiTango supports the EUR and the USD.
SatoshiTango is a VISA-card and is thus possible to use with most merchants around the world.
US-investors may not use this card. So, if you’re an American and you’re looking to get a cryptocurrency debit card, you’ll have to resort to this cryptocurrency debit card list and pick one of the cards where there is a green checkmark in the “US Allowed”-column. It shouldn’t be that hard for you now, should it?
Picture of Card
SatoshiTango Card Fees
We think that SatoshiTango charges competitive fees. This means that the fees with this card is not a disadvantage to using it.
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 disadvantageous 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 cryptocurrency debit card list to find another card for you.
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!