CryptoPay Card Review (2020)

CryptoPay Card Review (C.Pay Card)
  • Ease of Use
  • Customer Support
  • Payment Options
  • Speed
  • Fees
4.2

Summary

I’m not that impressed with the CryptoPay Card.

My main issue is that the fees aren’t competitive. You’ll be charged £15 to order a physical card, a £1/month account maintenance fee, and 1% whenever you load money onto the CryptoPay Card.

On top of that, there are cheaper places in the UK where you can buy the cryptocurrencies supported by CryptoPay.

Until this improves, I would check out alternative crypto debit cards.

The CryptoPay Card (or C.Pay Card) is now available to pre-order if you’re a verified user who lives in the UK.

This integrates with your CryptoPay account, which allows you to buy, sell, store, and transfer cryptocurrencies like Bitcoin (BTC).

But how does the CryptoPay Card compare to alternatives? Is it the best bitcoin debit card in the UK? Find out my thoughts in this CryptoPay review.

Advantages & Disadvantages

Advantages

  • Quick verification (< 15mins).
  • Responsive and helpful support.
  • Browser-based and mobile apps (iOS & Android).

Disadvantages

  • 3.5-star Trustpilot rating (650+ reviews).
  • CryptoPay Card has a £1/month account management fee.
  • Costs £15 to get a CryptoPay Card issued and delivered.
  • There’s a 1% flat fee to load and unload GBP from the CryptoPay Card.
  • CryptoPay Card is currently only available in the UK.
  • It’s possible to buy and sell Bitcoin (BTC) and other supported cryptocurrencies cheaper in other places.
  • Can’t add CryptoPay Card to Google or Apple Pay.

What Is CryptoPay?

CryptoPay Founders

CryptoPay is a UK registered company which was founded in October 2013 by Dmitry Gunyashov and George Basiladze.

They currently have a 3.5-star Trustpilot rating (650+ reviews).

Most of the recent negative reviews seem to be from people that have had trouble getting verified (e.g. CryptoPay not accepting the documents they provided). I didn’t have any problem and was verified quickly – within about 15 minutes of submitting my documents.

CryptoPay Review - Trustpilot Review Sample (Negative)

Many of the recent positive reviews praised its customer support. I’d echo that sentiment. CryptoPay instantly replied to questions I sent them via live chat. When I followed up about something via email, I also received a reply just 3 hours later.

CryptoPay Review - Trustpilot Review Sample (Positive)

Main Features

Crypto Features

CryptoPay Review - Buy Bitcoin (BTC) with GBP _1

  • Web wallets which allow you to store, receive, and send Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
  • You can buy supported cryptocurrencies with GBP, EUR, and USD. You can also sell these cryptocurrencies to CryptoPay for GBP, EUR, or USD credit.

CryptoPay Card Features

  • CryptoPay’s GBP Card is a prepaid Visa. Like other cryptocurrency debit cards, it can be used anywhere that Visa is normally accepted, which is over 54 million outlets and ATMs worldwide.
  • Top-up your CryptoPay Card with any of your CryptoPay wallets (everything gets converted to the card’s default currency).
  • Supports ‘Verified by Visa’, which is an extra layer of protection against fraudulent use of your card.
  • Supports contactless payments.
Can I just get a virtual CryptoPay Card to use online?

Yes, there’s an option to just order a virtual card. This costs just £2.50 / €2.50 / $2.50. If you change your mind and want a physical card at a later date, you can upgrade for £12.50 / €12.50 / $12.50.

Just FYI, you cannot use the virtual CryptoPay Card in-store. It can only be used online.

Supported Countries

CryptoPay currently supports 109 countries. This includes the UK, EU member states, Australia, and Canada.

However, you can currently only order a CryptoPay Card if you live in the UK. EUR and USD cards will be available to residents of other countries in the future.

What countries are supported by CryptoPay?

  • Andorra
  • Anguilla
  • Antigua and Barbuda
  • Argentina
  • Aruba
  • Australia
  • Austria
  • Bahrain
  • Barbados
  • Belgium
  • Belarus
  • Belize
  • Bermuda
  • Brazil
  • Bulgaria
  • Canada
  • Cayman Islands
  • Chile
  • China
  • Colombia
  • Costa Rica
  • Croatia
  • Curacao
  • Cyprus
  • Czech Republic
  • Denmark
  • Dominica
  • Dominican Republic
  • Ecuador
  • El Salvador
  • Falkland Islands (Malvinas)
  • Faroe Islands
  • Finland
  • France
  • French Guiana
  • Georgia
  • Germany
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guadeloupe
  • Guernsey
  • Guyana
  • Hong Kong
  • Hungary
  • Indonesia
  • Ireland
  • Isle of Man
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jersey
  • Jordan
  • South Korea
  • Kuwait
  • Latvia
  • Liechtenstein
  • Lithuania
  • Macedonia
  • Malaysia
  • Maldives
  • Martinique
  • Republic of Moldova
  • Monaco
  • Montenegro
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Papua New Guinea
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Qatar
  • Reunion
  • Romania
  • Russian Federation
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin (French part)
  • Saint Vincent and the Grenadines
  • San Marino
  • Seychelles
  • Singapore
  • Sint Maarten (Dutch part)
  • Slovakia
  • Slovenia
  • Solomon Islands
  • South Africa
  • Spain
  • Suriname
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turks and Caicos Islands
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay

CryptoPay accepts registrations from residents of the following countries but cannot process payments from credit or debit cards issued in these countries.

  • Estonia
  • India
  • Luxembourg
  • Malta
  • Serbia

Supported Cryptocurrencies

CryptoPay currently only allows you to buy, sell, store, and transfer four cryptocurrencies. These are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)

Supported Traditional (Fiat) Currencies

CryptoPay currently supports the following traditional (i.e. fiat) currencies:

  • GBP (Great British Pound)
  • EUR (Euro)
  • USD (United States Dollar)

Payment Methods

You can:

  • Deposit GBP into your CryptoPay account with a UK bank transfer.
  • Deposit EUR into your CryptoPay account with a SEPA transfer.
  • Instantly buy supported cryptocurrencies with a GBP, EUR, or USD credit or debit card (3D Secure only).

When you send GBP via a UK bank transfer to CryptoPay for the first time, it has to be manually approved. This means it won’t be manually approved. However, subsequent deposits are credited within minutes. This is because they’re processed via the Faster Payments System (FPS).

Strangely, I wasn’t able to make a UK bank transfer to CryptoPay from a high street bank. This is a known issue which might impact you too. Fortunately, I was able to send GBP to CryptoPay from my Revolut account.

The table below outlines CryptoPay’s Tier 3 deposit and withdrawal limits. If you need higher limits, then it might be possible if you contact their support team.

Payment MethodTimeframeDeposit AmountWithdrawal Amount
Bank TransferDaily€50000€50000
Bank TransferWeekly€100000€100000
Card PurchasesDaily€20000N/A
Card PurchasesWeekly€50000N/A

Fees

CryptoPay Card Fees

CryptoPay Card doesn’t seem that cheap.

Getting a CryptoPay account is FREE, but it costs £15.00 to get a physical card issued and delivered.

Standard delivery is FREE but takes up to 10 days. If you want it delivered sooner, you can expedite delivery for £35.00 (which seems quite expensive to me). I selected standard delivery and it only took a few days to get to me. 

There’s also a £1 per month account management fee. It’s not a significant amount, but it’s still something to consider. CryptoPay will also charge you a £5 per month account inactivity fee if you don’t use your card at least once every four months.

These are the other CryptoPay Card fees and limits that I picked out:

Fee or LimitCharge
Loading / unloading fee1%
ATM Charge (in card currency)£2.50 / €2.50 / $2.50
ATM charge (in other currency)£3.50 / €3.50 / $3.50 (+3%)
ATM withdrawal limit£400 / €400 / $400 per day
Cashback (in-store) limitNot Available
Maximum card top-up£8000 / €8800 / $10000 per day
Maximum card balance£45000 / €50000 / $58000
Maximum transaction value£27000 / €30000 / $34500

The card loading fee is a little tough to swallow. It applies whenever you add or remove funds from the CryptoPay Card. It’s also quite expensive to withdraw cash from an ATM using the CryptoPay Card.

More information is available here.

How can I cancel the CryptoPay Card?

Just send CryptoPay a message via live chat (on their website) or email support@cryptopay.me.

Buying Bitcoin With CryptoPay

You’ll pay different fees depending on if you’re buying cryptocurrencies with a UK bank transfer or debit/credit card.

CryptoPay Review - Buy Bitcoin (BTC) with GBP _2

When I deposited GBP into my CryptoPay account with a UK bank transfer, I was charged an explicit fee of 1% to buy Bitcoin (BTC). However, the exchange rate that I was offered was about 1.5% higher than the real GBP to BTC exchange rate. This brought the total I paid in fees to about 2.5%.

If you buy Bitcoin (BTC) with a credit/debit card, you’ll pay be charged an explicit fee of 4%. But again, there is an additional fee of about 1.5% that’s baked into the exchange rate you’re offered. That will bring the total you pay in fees to about 5.5%.

As I’ve outlined in this guide, there are cheaper ways to buy Bitcoin (BTC) in the UK.

One alternative is Wirex. As you can tell below, this option allows you to buy cryptocurrencies like Bitcoin (BTC) without losing as much money to fees.

Payment MethodCryptoPay Fees (Approx.)Wirex Fees (Approx.)
UK Bank Transfer2.5%1.0%
Credit/Debit Card5.5%1.0%
How can I check the competitiveness of CryptoPay’s exchange rate?

CryptoPay clearly shows you the exchange rate that they’re offering you when you buy Bitcoin (BTC) or other cryptocurrencies on its website. However, they don’t make it clear how close this exchange rate is to the wholesale price (available on exchanges).

You can quickly find out how the current GBP to BTC exchange rate with Preev.

Plug these two numbers into a calculator like this. This will quickly tell you what the percentage difference between these two numbers is.

Ease of Use

CryptoPay Review - Desktop Interface

CryptoPay has a simple browser interface which is easy to use. If you don’t know how to do something, they also have a knowledgebase with lots of useful guides. Coupled with its rapid support, it seems like it would be a good choice for beginners.

CryptoPay’s mobile apps (iOS & Android) are just as simple, easy, and quick to use as its browser counterpart. This is particularly useful for managing your CryptoPay card when you’re on-the-go.

Alternatives: CryptoPay Card vs Wirex

Wirex (Dark Green) Full Logo

If you’re in the UK or Europe, Wirex is the best crypto debit card that’s currently available.

Like the CryptoPay Card, you can use it anywhere that Visa is accepted around the world (incl. the UK, EU, and internationally). However, the big difference is that Wirex charges much lower fees than the CryptoPay Card.

Here’s a quick comparison of CryptoPay Card vs Wirex.

 CryptoPay CardWirex
Card Issuance Fee£15.00Free
Account Management Fee£1.00/month£1.00/month
Cryptocurrency Exchange FeeApprox. 2.5%Approx. 1%
Loading & Unloading Fee1%Free
ATM Withdrawal Fee (Domestic)£2.50 (max £400/day)£1.75 (max £250/day)
Cashback0%0.5% (paid in BTC)

Without a doubt, I think Wirex is a much better choice if you’re from the UK or EU.

Check out my full Wirex review to learn more.

Summary: Best Bitcoin Debit Card in the UK?

Let’s get straight to the point: I’m not impressed with the CryptoPay Card.

Here are the main reasons why:

  • You’ll be charged a 1% fee whenever you load GBP from your CryptoPay Card. You’ll pay the same fee when you remove funds from your card too.
  • You’ll pay at least 2.5% in fees when you buy or sell cryptocurrencies with CryptoPay. You’ll pay an additional 3% in fees if you buy with a debit card.
  • CryptoPay charge a higher ATM withdrawal fee than alternative crypto debit cards.

Over time, paying these unnecessary fees will add up. And it’s not necessary.

As highlighted in the previous section, Wirex is one alternative crypto debit card that charges you barely any in fees. Heck, they actually offer between 0.5% – 1.5% in cashback for all in-store purchases you make with the Wirex card.

Just like with a normal bank account, Wirex also allows you to send money from GBP and EUR accounts to other people. You can also receive fiat currencies from other people. You can’t do this with CryptoPay.

Wirex isn’t perfect, but I think it’s a much better alternative to the CryptoPay Card.

Learn More About Wirex

Any Questions?

Thanks for reading this CryptoPay review!

Have any questions about the CryptoPay Card? Comment below and I’ll respond ASAP.

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