Review on CoinsBank USD by Japheth Ayuba
When Coinsbank resume their card services, they should look into the area of their fees
The Coinsbank USD Crypto card is one crypto card that has a lot of features targeted at offering it's users a medium form of anonymity and cashback rewards for making use of its card. One great feature of this card is it's versatile nature of being used in virtually everywhere as it's issued by both MasterCard and Visa, this means one can use their card in any store that accepts either MasterCard or/and Visa. Another cool feature of the Coinsbank card is it's support for the users anonymity by permitting levels of user identification which helps limit access to personal information. As they permit a medium level of anonymity, users can have the Coinsbank card without sharing all their information. This definitely supports the anonymous nature of cryptocurrencies. Although the use of its verification system limits users in terms of their total spending and card usage and refuting fiat operation (which means, medium level verified users can't deposit fiat into their Crypto wallet). This limitations is largely due to frauds and terrorist organization but all the same, Coinsbank is still a good deal for anyone with an appeal for anonymity.
There is also an appealing cashback system for users who make purchases in supported stores worldwide of which information on that area wasn't given in details but looking at the fact that it's card is issued by MasterCard and Visa, it sure will support many major retail stores. This Crypto card supports the major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripples to be loaded onto its mobile app for spending on the Crypto
In it's fee charges, I feel a backdrop in the issuance fee of $24.90 charged. There is also a monthly $1 fee for maintenance. The fixed $4.95 ATM withdrawal fee charged for each transaction is considered high in my view. There are different card types issued by Coinsbank and one I took note of was the "No name Card" which is directed at privacy and it costs $14.95 and an activation fee of $9.95 There are Virtual cards issued also but they come with a validity period each having a cost of its own. Non usage of this card after 1 year will attract a $4.95 a month dormancy fee which is a bit moderate.
Ordering for this card currently isn't possible as they are temporarily unavailable but promises to return very soon. We can all keep our hands crossed as we await their relaunch hopefully they improve in their fee structure, it will be a sure go for many
Pros
- There is Cashback incentives for using the Coinsbank Crypto card
- It has a versatile nature as users can use this card in any Retail store that accepts MasterCard and Visa cards
- A good verification system that allows its users limit the information they intend to share making it a good spot for users with a nick for anonymity
- On the Coinsbank wallet, the Coinsbank Crypto card charges 4 of the major cryptocurrencies to be loaded and spent on its card
Cons
- The charges on this card is quite too much especially in measures of its ATM withdrawal fees
- The Virtual cards issued by Coinsbank isn't a good offer as they come with a validity period and charges affixed to them
- The issuance of the card is temporarily unavailable and there is no information regarding when it will be back
