Cut Off? Here Are 7 Different Bitcoin Debit Card Services and Fees
5 stars based on
78 reviews
TNW uses cookies to personalize content and ads to make our site easier for you to use. The Bitcoin community is reeling after several pre-paid crypto debit card providers abruptly suspended service.
These services allow individuals to spend cryptocurrencies — predominantly Bitcoin — in traditional brick-and-mortar establishments through a debit card issued by one of the major providers, Visa and MasterCard. Following an announcement from our card issuer on behalf of Visa Europe, Bitwala cards bitcoin bank card taken out of operation starting today.
Our team is holding an emergency meeting to resolve the issue with the card holders best interest in mind and will make an update shortly. Unfortunately, our card issuer instructed us to cease all Cryptopay prepaid cards starting January 5th, Speaking to their customers on Twitterthe affected companies have said the move is the result of actions from their card issuer, who was acting on behalf of Visa Europe.
It certainly appears that way though. Following an urgent communication from our card issuer WaveCrest, payments on the TenX card will be unavailable. We are working on a solution and will let you know further details as bitcoin bank card as we have them. We apologise for the inconvenience. Users of other bitcoin debit card services have reported receiving emails from WaveCrest informing them that they had to close all WaveCrest debit cards with immediate effect.
Visa have today instructed us that we must close all WaveCrest issued Visa Prepaid Cards with bitcoin bank card effect. Our calls were not answered, and the answer phone said that the office was closed.
This move has upended a thriving industry, with several major players. It has also had dire consequences for users, many of whom rely on these services for their bitcoin bank card spending.
Some users on Twitter are reportedly stranded abroad without funds. Even for European customers? Mine stopped working, and I need the money, as Bitcoin bank card am on vacation and my hotel just canceled my booking because of that.
What is the problem? Where is the original announcement? I'm having a similar inconvenience today, but i have multiple layers of redundancy — btc backed bitcoin bank card, ordinary bank card, and cash in 2 currencies. Complete pain in any case. If we hear back from them, we will update this post.
Visa has other approved card bitcoin bank card that use fiat funds converted from cryptocurrency in a number of jurisdictions.
We asked about the circumstances that caused Visa to take action against WaveCrest. A Bitwala representative got in touch. The bitcoin bank card came very suddenly which gave us no time to properly notify our customers.
Right now assuring them is our first priority. The decision also symbolises that Visa, and by proxy other traditional finance corporations, is not willing to service the growing crypto economy. This in turn bitcoin bank card us to proceed further with our vision of building a crypto first bank which provides a bitcoin debit card with uninterrupted service.
Published January 5, — January 5, — TNW just received comment from Visa Europe, who said: Matthew Hughes January 5, —
