CryptoPay Card (C.Pay Card)
-
Ease of Use
-
Customer Support
-
Payment Options
-
Speed
-
Fees
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 instead.
The CryptoPay Card (or C.Pay Card) is now available to verified users who live in the UK or Europe.
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
- 3.6-star Trustpilot rating (700+ 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 and EEA countries.
- It’s possible to buy and sell Bitcoin (BTC) and other supported cryptocurrencies cheaper in other places.
- Can’t add the CryptoPay Card to Google or Apple Pay.
What Is CryptoPay?
CryptoPay is a UK registered company which was founded in October 2013 by Dmitry Gunyashov and George Basiladze.
They have more than 1.3 million active users, have issued 134,000 C.Pay cards, and currently process about 52,000 transactions every month.
They currently have a 3.6-star Trustpilot rating (700+ 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.
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.
Main Features
Crypto Features
- 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.
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 or EEA country. USD cards will be available to residents of other countries in the future.
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. 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 Method | Timeframe | Deposit Amount | Withdrawal Amount |
|---|---|---|---|
| Bank Transfer | Daily | €50000 | €50000 |
| Bank Transfer | Weekly | €100000 | €100000 |
| Card Purchases | Daily | €20000 | N/A |
| Card Purchases | Weekly | €50000 | N/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 Limit | Charge |
|---|---|
| Loading / unloading fee | 1% |
| 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) limit | Not 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.
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.
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% higher than the real GBP to BTC exchange rate. This brought the total I paid in fees to about 2%.
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% that’s baked into the exchange rate you’re offered. That will bring the total you pay in fees to about 5%.
As I’ve outlined in this guide, there are cheaper ways to buy Bitcoin (BTC) in the UK.
One alternative is Luno. As you can tell below, this option allows you to buy cryptocurrencies like Bitcoin (BTC) without losing as much money to fees.
| Platform | UK Bank Transfer | Credit/Debit Card |
|---|---|---|
| CryptoPay Fees (Approx) | 2% | 5% |
| Luno Fees (Approx.) | 1.5% | 3.5% |
Ease of Use
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
If you’re in the UK or Europe, Wirex is one of the best crypto debit cards 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 Card | Wirex | |
|---|---|---|
| Card Issuance Fee | £15.00 | Free |
| Account Management Fee | £1.00/month | £1.00/month |
| Cryptocurrency Exchange Fee | Approx. 2% | Approx. 2.5% |
| Loading & Unloading Fee | 1% | Free |
| ATM Withdrawal Fee (Domestic) | £2.50 (max £400/day) | £1.75 (max £250/day) |
| Cashback | 0% | 0.5% - 1.5% (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% 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 lower fees. Heck, they actually offer between 0.5% – 1.5% in cashback for all in-store purchases you make with the Wirex card too!
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.
Any Questions?
Thanks for reading this CryptoPay review!
Have any questions about the CryptoPay Card?
Comment below and I’ll respond ASAP.