Copy link
Increase text size
Decrease text size
Link copied

BitPay launches first Mastercard for cryptocurrency users

BitPay just launched its prepaid Mastercard, which users can load using cryptocurrencies.

BitPay

Tue, 16 Jun 2020, 07:11 am UTC

The first Mastercard geared for cryptocurrency users is finally here. BitPay recently launched the BitPay Card, a prepaid Mastercard available for in the United States.

Users can user various cryptocurrencies, which are instantly converted into fiat currency, to load the BitPay prepaid Mastercard, according to Business Wire. Just like any Mastercard, people can use it anywhere in the world Mastercard debit is accepted. It can only be used for withdrawals from ATMs as well as for online purchases.

“The BitPay Card offers new benefits and features for consumers making it easier to convert Bitcoin and other cryptocurrency into a spendable balance without currency risk,” BitPay CEO and co-founder Stephen Pair said. “We are excited to work with Mastercard to expand crypto’s use while making it easy for businesses to attract new customers who want to spend Bitcoin and offer more places for customers with Bitcoin to shop.”

Aside from easy and fast conversion of cryptocurrency to fiat currency, the BitPay Card offers a host of advantages to its users. For instance, there is no conversion fee when users convert their tokens into cash so they’re assured that the entire converted value will be loaded into the prepaid card.

The second advantage is security. The card features an EMV chip for added security and is ready for contactless payments. Its BitPay mobile app, which is required for making reloads, can be used to easily track transactions so users are updated as to what amounts are charged into the card.

Another advantage is that the funds from the converted cryptocurrencies are made available to users in just minutes. One can also use a variety of cryptos such as BCH, BTC, ETH, XRP as well as stable coins USDC, GUSD, PAX, and BUSD to reload the prepaid card.

Meanwhile, BitPay announced that it will be its flagship Visa prepaid card will no longer be available on December 31, 2020. “This program termination means that all Bitpay prepaid Visa cards will expire and stop working on December 31, 2020, regardless of the expiration date printed on your card,” the company explained as reported by Bitcoin.com.

BitPay will also stop accepting reload to the Visa card months before its December 31 termination. According to the company, July 31, 2020, will be “the last day you will be able to load funds to your card including converting cryptocurrency to fiat for use.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.06.19 08:03:22
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all .
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $9,187.24 (-0.85%)
  • Ethereum (ETH) $240.05 (-1.28%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $229.81 (-2.65%)
  • Bitcoin SV (BSV) $180.51 (-1.77%)
  • Bitcoin (BTC) $9,187.24 (-0.85%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft