Bitwala Card Review

Bitwala Card Review

Crypto debit cards have opened a world of convenience for bitcoin users who want to use their cards in their daily payments and other transactions. Nowadays, a bitcoin user needs to own a crypto credit card.

Crypto credit cards can be used for purchasing virtual and non-virtual goods. Now you can travel without worries as you can use this debit card anywhere you want. Crypto debit cards can also be used in owning multiple fiat currencies.

However, with hundreds and thousands of crypto debit cards available in the market, it is easy to make a mistake of choosing the wrong card.

In this review, we will review one of the popular crypto debit cards – the Bitwala card. Weighing its pros and cons, examining its highlighted features, and considering the fees included will give you an idea if this card is suitable for you.

Availability EUR
Supported Currency Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, NEO Token, Monero, Ripple
Card Options Physical Card
Card Type Visa
Fees Low
Native Token No
Perks/Bonuses No

Bitwala was established in 2012, based in Berlin and operated on a team of 12 experts from nine different nationalities to give the best of services. The CEO of the Bitwala, Jorg von Minckwitz, is a firm believer that the future carries a promise of the bitcoin and the benefits that it can offer. With this, they have come up with a crypto debit card that offers convenience to bitcoin users from all over the world.

The Bitwala card is a crypto debit card that will make your transactions easier and hassle-free. However, as the debit card has not yet been launched, you can only pre-register to get the card as soon as it is available in the market.

This card supports major currencies in the digital market, and the number of supported currencies will most likely grow when the card is officially launched.

This VISA-card can be used in numerous transactions for online and offline payments. However, this card is not available for users in the United States. If you are from the US, you may want to refer another list of crypto debit cards that are available for US investors.

The Bitwala card is best known for its fast and hassle-free transactions. They bring a promising result of quicker transactions without burning a hole in your pocket. As of today, there are over 15,000 Bitwala users in the market. They can cater to 20 currencies and 44 cryptocurrencies from all over the world. It is also accessible in over 120 countries, allowing you to complete transactions using fiat or cryptocurrencies without much hassle.

Aside from their debit card, they also offer other services that will allow you to use the debit card in transacting with European currencies. Currencies in Asia are also included in the list.

Thanks to their recent partnership with the ShapeShift, Bitwala is now catering up to 44 major altcoins that will serve as top-up methods. It can accept other currencies aside from the bitcoin, including the dogecoin, Litecoin, and zcash. Since Bitwala is still in the process of launching its debit card, this feature is still in beta mode and subject to improvement.

The plastic debit cards of Bitwala are also accepted in any merchandising shops that accept payments via VISA. Or you can also use Bitwala for purchasing applications on the App Store or Google Store.

There are three levels of Bitwala memberships. For level 1, it has a maximum of 2,000 EUR, 50,00 EUR for level 2, and level 3, 50,000. Business owners may also request a business-level account with a monthly limit that can reach up to 100, 000 EUR. However, Bitwala may require you to submit the necessary documents and files before you are approved of the business account.

Level 1 cardholders of Bitwala refers to users who have an unverified account. They only need to submit their valid email address to sign up, and they can start using the debit card right away. But if you want your account to be verified, which means you’ll be a level 2 cardholder, you are required to submit proof of resident and identity. Identification cards issued by the government and utility bills are also accepted. If you are a level 2 cardholder, you are given the privilege to use the debit card for unlimited purchases for both online and offline payments. You can also withdraw up to 1,000 EUR per transaction.

Fees, Charges, and Incentives

The fees associated with using this crypto debit card is not high. In fact, it is affordable and suitable for investors on a budget.

You are required to pay for a monthly fee of EUR 1.00, which is quite affordable compared to other crypto debit cards in the market. Their issuance fee of EUR 8.00 is below the average industry rate, making it appealing to customers on a budget.

ATM usage is only EUR 2.75, fixed fee, per withdrawal transaction. However, it can be a disadvantage to investors living in countries that will only allow small withdrawal amounts. If that is the case, you are required to make multiple withdrawals to withdraw the large amount that you need. But in every transaction, you will pay for the fixed fee. As a result, you’ll end up paying multiple transaction fees to withdraw your desired amount.

As for the commission of spending, it has a set back percentage of 3.00. For instance, if you want to reward yourself and buy a pair of shoes that costs 100, then your crypto assets will be reduced to 103.

What’s good about this crypto debit card is that there is no maximum deposit limit. So, if you want to deposit large amounts of cryptocurrency capital to your debit card, the Bitwala card is an appealing option.

Concluding Remarks

Most of the features of the Bitwala debit card is still in a beta mode, and there’s so much room for improvement. But from what we can see on their initial system, Bitwala is a promising crypto debit card that allows you to transact without much hassle.

It is an ideal choice for beginners who are looking for a low-cost debit card and a system that is easy to understand.