Home Page
Osogbo
9 level
156 reviews
-3.75 karma

Review on CoinsBank USD by David Olayide

Good Luck Using the CoinsBank Debit Card.

The Coinsbank card converts your digital crypto assets into the normal everyday purchases and helps you buy goods with bitcoin and other cryptocurrencies. You should know however, that unlike other cards, this debit card does not yet support a host of other digital cryptocurrency assets except Litecoin and Bitcoin. However, it is highly probable that that will change in the nearest foreseeable future.

Do not be discouraged yet because there is a definitely a support for fiat currencies such as AUD, CHF, EUR, JPY, RUR and USD which are all supported by the Coinsbank debit card. The crypto card is backed by Visa and can be used at any place where Visa cards are supported. Sine Visa alongside MasterCard, are the most widely used and accepted debit/credit cards you should have no problem whatsoever.

The card is not restricted to investors in the USA. Some people have complained about the fees which are on the high side. The monthly fee for maintenance is about 0.95 USD which is about average or at least moderate. However there’s an outrageous amount of 99.95 USD as an issuance fee. This about 7 times more than the normal rate. And they’re not even done with you yet. If you’re looking to withdraw some funds from an ATM, there you will face an ATM-withdrawal fee that is roughly double of the industry average (fixed fee of USD 4.95 per withdrawal). Talk about double trouble.

And, It gets even better. Turns out there’s a commission on spending. I mean, come on!! CoinsBank Card will deduct from you 1.99% whenever you spend! This means that if for example, you buy a gaming console for 1,000 USD, this will reduce your crypto assets with 1,019.90 USD!!. Amazing right???

I didn’t think so either.

Anyways that’s just about as good as it gets really. Wouldn’t be surprised if there are hidden charges that’ll spring out at you anytime you bring your card outta the wallet. With all these (and more probably) if you think CoinsBank is the card for you,

Congrats! Happy Spending, and Good Fortunes.

Ciao!



Pros & cons

  • Backed by Visa
  • Supports Fiat Currency
  • Secure
  • Transaction fees are way too exorbitant!
  • You pay Monthly fees
  • Supports only two cryptocurrencies