![]() In a nutshell: BitPay allows businesses to accept Bitcoin, saving them money, ending charge-backs and eliminating fraud. Once again, the punitive transaction fees come into play, so make sure you factor those in.Īnother attractive solution that BitPay peddles is aimed at businesses. Setting up the sale of BTC through the BitPay wallet is a simple affair as well. With larger sums, these fees may become more reasonable as well. In at least one instance, a user spent nearly $2 to load $5 onto the card. The loading of the VISA card comes with some fees as well. This is significant, because this way, one will incur yet another set of transfer fees upon passing on the funds to the BitPay wallet manually. The reason we’re saying “theoretically” is that apparently sometimes, this feature misfires, and the purchased bitcoins land in the Coinbase account instead. If you make a purchase, theoretically, it’ll be done directly through your BitPay wallet, so the cryptos you buy will land directly in your wallet. Once you’re done linking your exchange account, you’ll be presented with the current Bitcoin buy/sell prices. ![]() When linking up the wallet, your Coinbase account will have to approve a series of permissions. ![]() You need to have an account with the exchange (Coinbase), to be able to link it up with BitPay. With your debit card linked, you can link up your exchange as well, just to open up the possibility to buy/sell BTC too. These fees have gotten out of control lately, so if you use micro transactions, you may indeed end up paying more in fees than the amount you’ll receive. Remember that every time someone sends you bitcoins (even when you transfer BTC from a different wallet of yours to your BitPay wallet) transfer fees will be incurred. ![]() The sender then simply sends bitcoins to the said address. Receiving bitcoins through the wallet is as simple as giving someone your wallet address (available under Receive). It is important for users to remember that once they load funds onto their BitPay VISA card, the balance will remain in USD. The last step is to spend the money directly off the card, or to use an ATM to withdraw cash. It can be loaded through the BitPay wallet – as said above – but direct deposits can be used with it as well. Some users have complained that despite going through the above steps as required, they never received their BitPay cards.Īfter its arrival, the card has to be activated at the website, and a cardholder account can then be created. The user ordering the card has to undergo ID verification as well, before the card is sent. Ordering is done online and a fee is involved. The BitPay card has to be ordered and activated, before it can be loaded. Were you SCAMMED for $5K+? Recover Your Money Now! Or, if you don't have any bitcoin yet, sign up below:īest International Crypto Exchange - Buy/Sell BTC & other Cryptocurrencies The wallet app is available for free, for a variety of platforms and besides its outstanding safety features and the above named perks, it can scan QR codes for payments and it can verify wallet addresses to which user funds are sent.Īd Please support our work by making a donation of any size to our BTC wallet: It comes equipped with a number of impressive safety features, and it can be linked up with the above mentioned VISA debit card, as well as with a 3rd party exchange, like Coinbase. Indeed, in some cases, one may end up paying more in transaction fees than the amount of transferred funds.Īs far as the BitPay wallet service is concerned, it has to be granted that it is a great service indeed. While the option of having one’s cryptos converted into fiat at a whim, and spending the money wherever VISA cards are accepted, sounds good, the issue of fees all but ruins the setup for smaller transactions. Through 3rd party exchanges, BitPay also lets its users buy and sell Bitcoin. 5 BitPay Review Conclusion What exactly does BitPay offer though, and how does it all work?įrom the perspective of a rank-and-file user, BitPay can be best defined as a really fancy Bitcoin wallet, which lets users load a fiat VISA-card, directly from their crypto wallet.
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