Using Bitcoin Debit Cards to play Mega Moolah (Part 1)
Bitcoin debit cards are one of the hottest things in the cryptocurrency scene right now. They make spending your BTC on day-to-day expenses as easy as using a bank-issued debit card.
Some of them are so good that they seamlessly convert between fiat and BTC, so you can use BTC to pay for things even with merchants that do not normally accept crypto payments.
Being that our focus is on playing Mega Moolah, we are very intrigued by all the possibilities of funding online gambling using a BTC debit card. It is not as complicated as you might think. In fact, making a deposit with a BTC debit card is a simple as using any other plastic payment system.
Funding deposits with BTC
This is the first of two posts that will compare multiple BTC debit cards, just so you can see what's out there. But before we get to that information, let us talk about funding your online gambling deposits with Bitcoin. There are multiple ways to do this. First is using a payment facilitator like Skrill or Neteller.
This option involves depositing funds in your account and then choosing either the Skrill or Neteller option on the casino's payment page. Obviously, you have to convert your fiat to BTC before you do so.
A second method is to initiate a transfer the goes through a payment processor. You enter the appropriate information on the gambling site's payments page. They then forward the payment to the processing company who sees to it that coin is pushed from your wallet to the casino's wallet.
Your third option is to use a BTC debit card. The beauty of the debit card is that you don't need to do anything special. Just go to the website's payments page and select the debit card option. That is all there is to it.
With all of them settled, let us take a look at some of the most popular crypto debit cards. Note that they are listed here in alphabetical order rather than any specific preference on our part. Also note that we have provided a comparison table at the end of this post. The second posts in this series will also include a comparison table.
Advcash is a financial services company with more than 20 years experience in the electronic payment arena. They began offering BTC debit cards some time ago, but then suspended them for some unknown reason. Their website says that new debit cards are coming soon.
Once the debit cards are available, they will be supported by USD, EUR, RUB, KZT, UAH, BRL. It appears as though only people living in the United States, the EU, Ukraine, Kazakhstan, Brazil and Russia will have access to them.
The Advcash card will be offered with no annual or monthly fees. There is a modest order fee of US$14.99, but delivery is free by standard mail. ATM withdrawals are charged at a rate of US$2.99. There are no transaction fees for purchases, but there is a 2.99% fee for currency conversion.
Advcash Branding: MasterCard
Advcash Card Rating: Fees are manageable, funding options are great, fiat and crypto support is good.
AlfaCashier is an electronic currency exchange originally founded in 2012. They function much like an airport currency exchange where you exchange fiat on your way to an overseas holiday. AlfaCashier does the same thing with cryptocurrencies.
Their BTC debit card is a Visa branded card with support for seven different digital currencies including Bitcoin, Litecoin, Ethereum, Dash, and XRP. You will pay a monthly fee of US$4.00 to use this card. Each purchase will also incur a fee of 5%.
AlfaCashier Branding: Visa
AlfaCashier Card Rating: Fees are manageable, funding options are okay, fiat and crypto support is good.
ANXPRO is a cryptocurrency exchange that supports only a small number of ALT coins. They do offer support for Bitcoin, but their ALT coins support is limited to Litecoin, XRP, and Dogecoin. Their yet-to-be-launched card is branded by Visa, so it is usable wherever Visa debit and credit cards are accepted.
There should not be any monthly fees associated with this debit card. However, we have heard of a US$4.99 fee for card issuance plus shipping. ATM transactions and debit card purchases will be charged somewhere between 3-5%.
ANXPRO Branding: Visa
ANXPRO Card Rating: The ANXPRO Card has not yet been launched to customers.
Bitnovo is a voucher-based unbranded debit card called BITSA. The BITSA prepaid card gives you a multitude of options, without being associated with a bank account. You can buy online or at any store, withdraw cash from any ATM, make transfers between cards and easily recharge it from a voucher or with cryptocurrencies.
Their coin support is limited to Bitcoin, Bitcoin Cash, Dash, Litecoin, Ripple, Z-Cash, and Stellar. Likewise, the only fiat they support is EUR. So you are able to use this prepaid card to convert your crypto to Euros and also pay for things. There is a €20 card issuance fee and ATM withdrawals incur a fee of €2.75 and purchases incur a flat fee of €1 regardless of the amount spent. BITSA prepaid card can be activated only for customers living in the EU.
Bitnovo Branding: Bitnovo's BITSA prepaid card is topped up using vouchers or crypto. It is not Visa or MasterCard branded.
Bitnovo Card Rating: Fees are high, funding options are okay, fiat support is limited to Euro. Crypto support is okay.
The BitPay card is one of the more well received cryptocurrency debit cards on the market. That's not surprising, given that BitPay was one of the early adopters way back when very few merchants were accepting it. BitPay is also a payment processing provider and offers a BTC/BCH wallet.
This Visa-branded debit card only supports US Dollars in terms of fiat. The only two cryptos it supports are Bitcoin and Bitcoin Cash. As such, this card is somewhat limited.
The issuance fee for this card is US$9.95. ATM withdrawals will run you US$2.00 while purchases are charged a 1% fee. Perhaps the biggest advantage of this card is that you can fund it with a wire transfer, credit card, and Bitcoin and/or Bitcoin Cash funds.
BitPay Branding: Visa
BitPay Card Rating: Fees are high, funding options are okay, fiat and crypto support is very limited.
Bitwala markets itself as a cryptocurrency bank. Customers can get a German bank account and receive salary to it and send and receive SEPA transactions. The bank account is held under our trusted bank partner solarisBank, which is regulated by the BaFin and the European Central Bank (ECB), and holds a full German banking license.
You will pay a €8.00 issuance fee along with a €1.00 monthly fee. All transactions, including ATM withdrawals, are assessed a 3% fee. The Bitwala bank account, Bitcoin wallet and trading account are all for SEPA zones member countries, which are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland (including the Åland Islands), France (including overseas territories), Germany, Greece, Hungary, Ireland, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and United Kingdom (including Gibraltar, Guernsey, Jersey and Isle of Man).
Bitwala Branding: Visa
Bitwala Card Rating: Fees are manageable, funding options are okay, fiat and crypto support is limited.
Coinbase is one of the most recognizable digital currency exchange services in the world. It is certainly one of the largest. With a Coinbase account, you can buy and sell more than a dozen different digital assets with the tap of a finger. Their debit card gives you access to both digital and fiat (GBP, EUR) assets wherever debit cards are accepted.
There is a Visa-branded debit card that comes with a £€4.95 issuance fee and monthly fees that could be as high as £€200, depending on the volume of your conversion transactions. The charge for ATM withdrawals is 1%. Domestic purchases are charged 0.20% while international purchases are charged at 3%. At this time, residents of France, Germany, Ireland, Italy, Netherlands, Spain and the United Kingdom may apply for a Coinbase Card.
Coinbase Branding: Visa
Coinbase Card Rating: Fees are high, funding options are okay, fiat support is great, crypto support is okay.
CoinJar Swipe Card
CoinJar is an electronic payment processing company that specializes in cryptocurrency payments. The Swipe card is an EFTPOS card rather than branded by Visa or MasterCard. Customers can spend their digital currency anywhere that accepts EFTPOS in Australia.
Interested users can sign up for an account right now in anticipation of getting a debit card as soon as they are issued. Once in circulation, the CoinJar Card supports Bitcoin, Litecoin, Ethereum, Z-Cash, Ripple.
The card has a AU$29 issuance fee but no monthly fee and delivery is free. EFTPOS purchases and EFTPOS withdrawal (cash out) have no fees. ATM withdrawal is also free but can vary depending on each ATM. There is no inactivity fee. Currency conversion fees are low at 1% on both ATM withdrawals and purchases.
CoinJar Branding: EFTPOS
CoinJar Card Rating: Fees are low, funding options are limited, fiat is limited to Australian Dollars. Crypto support is somewhat limited.
Coinsbank is a cryptocurrency exchange more than anything else. However, the company does offer a variety of financial services such as a Visa-branded card and a crypto wallet. The card however, is unavailable at this time.
The card (when it was available) supported Bitcoin, Litecoin, Ethereum and Ripple in the cryptocurrency arena; and in terms of fiat it supports USD, EUR, and GBP.
The issuance fee was rather steep at US$99.95. Additional fees include a US$0.95 monthly fee, a fixed ATM fee of US$4.95, and a 1.99% fee on purchases.
https://coinsbank.com/cards (Unavailable at this time)
Coinsbank Branding: Visa
Coinsbank Card Rating: Fees are high, funding options are good, fiat support is poor, crypto support is good.
Cryptopay is a company that offers three services: a crypto wallet, a prepaid debit card and a virtual card, both which is easy to load with funds from the BTC wallet. Their cards work the same way as any other prepaid card. You load it with crypto and then use the card to purchase things online and in person, or withdraw fiat cash from an ATM.
The card converts your digital assets to fiat on-the-fly. Cryptopay supports three cryptocurrencies: Bitcoin, Litecoin, and XRP. The four fiat currencies it supports are USD, GBP, EUR and RUB. The
Fees are very reasonable compared to the industry average. The issuance fee is US$15; the monthly fee is US$1.00. ATM withdrawals are charged at US$3.50 per usage while purchases are assessed a 3% charge.
CryptoPay Branding: Visa
Cryptopay Rating: Fees are reasonable, funding options are good, fiat and crypto support is limited.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.