BitPay, the highly-regarded blockchain payment company, has released a prepaid MasterCard for cryptocurrency users in the USA. With the BitPay Card, users can convert cryptocurrencies like Bitcoin into fiat currency such as the US dollar, which can be loaded onto the prepaid MasterCard. Cardholders will then be able to spend their money anywhere MasterCard is welcome. The BitPay Card also supports cash withdrawals at ATMs.
In a statement BitPay CEO and co-founder Stephen Pair said, “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.” He continued, “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.”
One of the BitPay Card’s benefits is that it lets users exchange crypto without paying hefty conversion fees. The card also offers security and convenience features such as an EMV chip for secure contactless payments.
The BitPay Card supports popular cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, and Ripple as well as the US Dollar, Gemini Dollar, Paxos Standard, and Binance USD. Cardholders will need to download the Android or iOS BitPay mobile app to take advantage of the service. Cardholders will have access to their funds in a matter of minutes, without having to wait for slow exchanges and fund transfers. The BitPay Card mobile app lets users buy crypto and gift cards from leading retail brands.
At launch, Mastercard Executive VP of Digital Partnerships remarked, “At Mastercard, we’re committed to offering differentiated financial services to consumers on a global scale. We’re excited to be working with BitPay to offer consumers greater choice and flexibility when it comes to managing their finances.”
For more information about the BitPay Card or to sign up visit Bitpay.com/card. Applicants must complete a verification process and be a minimum of 18 years old.