Review on CoinsBank USD by Benaiah A. Akinlade
CoinsBank USD: An awesome card that is not meant for the common man
CoinsBank Card is a VISA-card that supports a wide variety of fiat currencies and just 2 cryptocurrencies: Bitcoin and Litecoin.
The card appears to be designed for the rich and business class as there are some exorbitant charges attributed to the card:
1. The card comes with a monthly fee of 0.95
USD
2. The issuance of the card comes at 99.95
USD
3. For each withdrawal you make, there is a fee of 4.95
USD
4. There is also a fee (commission) of 1.99% on the spendings you transact with the card
The card comes with a lot of fascinating features that makes transactions and exchanges of fiat and crypto assets easy. But these aforementioned fees makes it a difficult card to hold for the common man. Also, I hope the card supports more cryptocurrencies later.
Efforts to try and order the card proved abortive as the card is currently not available. Hopefully when the card comes back on, it would have supported more cryptocurrencies and some of these high fees would have been removed or reduced, but you know what they say; Good things don’t come cheap.
Pros
- The card instantly converts between fiat and crypto currencies and vice versa
- You can use the card at any payment point that accepts VISA cards
- The card supports an encouraging number of fiat currencies
- It is a reliable way to exchange your crypto assets
- You get daily cash-back bonuses for transacting with the card
- You manage your cards through the Android and iOS mobile applications
Cons
- Supports too low number of cryptocurrency assets (btc and ltc)
- There are too many exorbitant exchange fees on the card
- The cards are currently unavailable
