Great post about your experience with Cryptopay... here's a few things to note about Cryptopay (from my experience):
- They don't work with US citizens (not a prob for you, but a serious prob for Americans).
- They may be registered in the UK, but if you get a card through them, the card issuer is located in Gibraltar.
- #2 means that they're on the Gibraltar Pound (GIP) which means all transactions will also include double exchange rate fees (into and out of GIP).
- Their virtual card doesn't work beyond the first purchase: unverified accounts are supposed to have $2500 limits which the website professes, but after the first purchase the card is locked by the issuer (in Gibraltar). When talking to customer support, they advise verifying the account. If you don't want to verify the account you'll take a couple more fee hits as you unload the card and then buy back your bitcoin to transfer elsewhere. This is because if the card is locked and you don't verify, the card issuer will not unblock the card.
- You will lose any bitcoin you deposit that is after the 4th decimal place. And, though the blockchain for your deposit address will show your entire deposit, Cryptopay keeps the change.
0.0015 = You get all your deposit
0.00152500 = You lose 0.00002500 satoshi - If they find out that you are American they will close your account. You'll have 2-3 business days to unload your virtual cards and transfer your bitcoin out. This is not negotiable. Probably why they push verification, though they advertise no verification needed.
- Their customer service is relatively quick and helpful, though they are quite likely to point at the card issuer as the center of problems for unverified users.
- #7 means that their website makes promises that they can't keep because they are subject to the whims of a card issuer in Gibraltar.
- While there's usually a buy/sell difference, Cryptopay's valuations are noticeably lower.
Interesting, thanks for sharing your experiences!
#5 is probably the most important thing to know . Satoshis add up to bitcoins, you know?
Wow... I live in the US and Cryptopay doesn't work for me either, but this is a great deal of information, specially #5. Now that I know, it is something to pay attention to when dealing in satoshis in the future.
Thanks for all the info
It'd be super awesome if some enterprising soul hooked us up with a STEEM-to-Cash debit card. Perhaps, one day....