This card is debuting in the United States but plans to expand to other countries. It's difficult to find a way to spend your crypto easily. I had a SHIFT card with Coinbase until recently that I really enjoyed the convenience of, but Coinbase discontinued it a few weeks ago.
This card has a few stipulations, like minimum balance, but you can see that necessity with the volatility of the crypt market. I use the BRAVE browser and this debit card account advertisement has been shown to me a few times by the browser. Since Coinbase got out of the debit card business in the US, this was of interest to me and I set up an account.
Here is a video created by Blockcard to show you how to set up the card and use it.
This is quoted from the FAQ page on my Blockcard account, so you can see all the information about how the card works:
Where does my BlockCard work?
BlockCard works anywhere in the world major credit cards are accepted. It can be used online or in physical store locations.
What’s the minimum balance?
BlockCard requires a minimum balance of $100 to remain active. This minimum balance is used to protect your account against volatility of crypto markets. That means that $350 in funds on a BlockCard has $250 worth of buying power. You can reload your BlockCard or remove your funds at anytime in your BlockCard account.
Can I use BlockCard at ATMs to withdraw cash?
BlockCard allows you to withdraw cash from almost any ATM worldwide (local restrictions may apply).
Are there daily spending limits on the BlockCard?
Yes - the maximum allowed to be spent on the BlockCard is $5,000 a day. This is subject to change as we expand the program.
What are the fees to use BlockCard?
We have worked hard to remove as many fees as possible; however - these fees are mandated by our banking partners.
Activation Fee : $5.00
Monthly Maintenance Fee : $5.00 unless spend $750 or more
PIN Transaction Fee (Domestic) : $1.00
PIN Transaction Fee (Int’l) : $2.00
ATM Cash Withdrawal Fee (Domestic) : $3.00
ATM Cash Withdrawal Fee (Int’l) : $3.50
ATM Balance Inquiry Fee (Domestic) : $0.50
Automated Customer Service Fee 1-877-766-3551 : $0.50
Card Replacement Fee : $10.00 (plastic) / $50.00 (metal)
Account Closure/Balance Refund Fee : $10.00
*Fees are subject to change at any time.
What happens if my card is lost or stolen?
Contact Customer Service at 877-766-3551 if your card was lost or stolen. We plan to build out functionality to deactivate your card within the BlockCard account; however - that does not presently exist.
I sent crypto to my BlockCard, but don’t see funds in my account?
Double check to make sure that the transaction was sent to the correct wallet address.
Verify that the transaction was completed via Etherscan (ETH), StellarChain (XLM), or Blockchain.info (BTC).
Feel free to chat with other users in the Ternio Telegram community or send a message in the Contact Us portion of the Support section.
I created my account and deposited funds. When will I receive my Blockcard?
Physical BlockCard can take up to 6 weeks to arrive depending on your location in the world. However, your virtual card will be available immediately as soon as your KYC is approved.
How is KYC performed?
Our bank partners have their own KYC criteria. Documentation must meet their standards based on your local state and government laws. If you do not pass KYC the first time you have the option to submit documents and try again.
I am not a US citizen. Can I get a Blockcard?
BlockCard will initially be released in the United States, followed by other countries around the world. This is a staged approach mandated by our bank partners.
How do I deposit funds to my BlockCard?
After signing in to your BlockCard account visit the “My Account” page.
Select the cryptocurrency you would like to use to fund the account by clicking the image logo. To fund your card with Ethereum, click the ETH logo.
After clicking the image you will be given an address to send your cryptocurrency to. For example, you will notice the ETH address begins with “0X”
Copy and paste the address from the BlockCard account. Then send the funds from your personal wallet to your BlockCard account address.
Depending on the currency you have selected, funding can take seconds or potentially hours during peak times.
If you are interested in being able to spend your crypto anywhere in the world that VISA is accepted you can check it out here:
Link and full disclosure, this is a referral link attached to my own Blockcard account.
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This looks very interesting, I think I am gonna get one
Yeah our options are very limited in the USA. I loved the SHIFT card, I hope Coinbase issues another one like they said they were going to do when they closed down SHIFT.@crypt-skip
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Looks pretty interesting, but most things happen in the US first before going to other places so I can't actually play with it...heck, it might take a few more decades before crypto is well adopted here, lol.
I thought Xapo is the one to first issue a debit card with Bitcoin on it, not sure if they are still continuing...but good to see that the idea is still alive!
I've never heard of Xapo, but Coinbase has a debit card as well, I'm not sure what countries they are in yet, but I know they cancelled the one in USA and "say" they are going to come out with another one.
Regards appreciated @blueeyes8960.
Interesting product that you present us today.
As we already know, there are several initiatives like this one.
In fact, recently in India a card was launched under this same concept.
All this leads us to think about the growth that the massive adoption of crypto has. For this reason new companies are emerging that develop more common ways for the use of crypto by citizens.
Definitely, this will be the way forward for many other companies.
All best, Piotr.
Coinbase had the debit card SHIFT here in US for almost 2 years. It worked perfectly! But they discontinued it a couple of week ago, probably due to increased problems with regulation. There are not many options here for crypto debit cards yet.@crypto.piotr