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 Tokencard – one of the many cryptocurrency debit cards.
The company behind Tokencard is “Token”. Token is the trading name of Token Group Limited (a company registered in England and Wales (11098384)). Tokencard also has a token by the same name. See more about the Tokencard cryptocurrency here.
Tokencard has not yet launched. When launched, it will support Ethereum, Ethereum Classic and any ERC20-token. There are a LOT of ERC20-tokens out there so this is definitely one of Tokencard’s strengths.
We have not been able to verify which fiat currencies that Tokencard will support. As soon as we have verified that, we will post that information here. Stay tuned!
Tokencard will be 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 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?
We think that this card 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. There is no issuance fees. The latter is quite unusual and is thus a competitive edge for this particular card.
ATM-usage results in a fee of 1.50% on the withdrawn amount.
Furthermore, the most important fee of them all, is the commission on spending. Tokencard sets you back 1.50%. This means that if you buy a Supreme-hoodie for USD 200, this will reduce your crypto assets with USD 203.
We have not been able to verify what the maximum deposit limit will be. Accordingly, we urge anyone interested in getting this card to obtain this information for himself or herself prior to getting the card.
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!