August 15, 2020

Market News

The Bitwala debit card – the card for crypto investors

If you are looking for a modern account that supports the trading of Bitcoin and Ether at the same time, Bitwala could find the perfect solution. A central element of the Bitwala account is the free Mastercard debit card. In the following we show which services the Bitwala card offers and how it performs in direct comparison to alternative offers.

What makes the Bitwala debit card so special?

Anyone who concludes an account with the online bank Bitwala can enjoy the free Bitwala debit card, which is issued by the established payment service provider Mastercard. The Bitwala card comes in a high-quality dark blue and with a small Bitwala logo.

But in addition to the design, the functionality from the perspective of the end user is crucial. Bitwala offers a wide range here to ensure a high usage rate. Anyone who has an account with Berlin's FinTech is very likely to have BTC or ETH. For the pure current account, there are other banks that are better known, but have no experience in the blockchain sector.

As a result, the Bitwala card also focuses entirely on this niche and perfectly rounds off the offer of the account. With the debit card, users can easily exchange coins and thus pay immediately in everyday life. Using the mobile app, the cryptocurrencies can be quickly converted into euros and used as a means of payment.

Mastercard – a strong partner in payment transactions

But the cooperation with Mastercard also has some advantages. In addition to Visa, Mastercard is one of the largest payment service providers in the world. Accordingly, numerous shops and companies support card payments with Mastercard.

According to Bitwala, customers can use the Bitwala debit card at more than 40 million locations and can therefore simply make cashless payments or withdraw cash from their own account. Bitwala also does not incur any costs for international payments. However, Mastercard defines the exchange rates so that minimal spreads between currencies can arise here. The Mastercard currency bill provides the necessary more transparency.

Also to be highlighted is 3D Secure from Mastercard , which supports Bitwala in online payments. 3D Secure can significantly increase the security of your own account.

This allows users to quickly and easily access the current exchange rates for cash withdrawals from the machine.

If you haven't received your Bitwala card after opening your account, you have to order it later in the Bitwala interface. The following steps have to be carried out:

  1. Registration in Bitwala Banking
  2. Switch to the settings with a click
  3. Switch to the map settings
  4. Click on the "Order card" function
  5. Now follow the further instructions in online banking.

Other important information about the Bitwala card

From our point of view, the limits of the Bitwala card are set comparatively generously and leave scope for everyday life. This way, 1,500 – 5,000 euros can be transferred daily via online payments. In offline payments, this range is between 1,500 – 3,000 euros per day. At ATMs, users can have a maximum of 3,000 euros a day. There is a fixed limit of 10,000 euros per month for all payment methods.

If the Bitwala debit card is lost in the course of usage, it can be reported as lost or stolen. To do this, click on "Block card" in the card settings. The company also recommends sending information to [email protected] to report the loss.

How does the Bitwala card differ from the competition?

In our view, Bitwala is the perfect provider for newcomers who do not want to fully deal with the functions of a blockchain and the secure storage of cryptocurrencies on wallets.

But in addition to Bitwala, other providers have also positioned themselves on this market. This includes, for example, TenX, which cooperates with Visa and even promises BTC payments for bread rolls. In contrast to Bitwala, TenX also supports Litecoin as currency and enables payments without a previous exchange of assets. However, the offer can only be used in Asia and is therefore of little interest from the perspective of European investors.

However, with Revolut, Wirex, Xapo or Bankera, other companies have already recognized and anticipated the business model. In direct comparison to the competition, Bitwala offers free services.

Conclusion: Bitwala debit card – the perfect rounding off for the Bitwala account

If you have an active Bitwala account , you should also take a closer look at the Bitwala debit card. This can be requested free of charge via the online banking interface and is issued in cooperation with Mastercard. Accordingly, features such as 3D Secure and worldwide acceptance are convincing. The ability to exchange cryptocurrencies for euros and thus make purchases has its charm. Especially in comparison to the direct competition, the Bitwala account convinces on the whole level – open and get to know the Bitwala account here.