Sunday, 17 November 2019
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Coinizy review

Introduction

The debit card provided by Coinizy is virtual, cheap, and uses USD and bitcoins only. The virtual card from Coinizy is accepted by all global merchants worldwide. The basic idea that surrounds the Coinizy virtual card is to provide scopes for the population that is unbanked, mostly teenagers to profit and use virtual funds through platforms like PayPal in the most convenient and affordable manner.

The roots of Coinizy are in Canada and it was established in the year 2014. There are a lot of financial advisors in the firm to maintain the track of the finances and also to develop wallet maintenance and solutions based on blockchain technology.

Features

  • The virtual card allows online purchases and stores payments options as the card contains the name of the owner along with the date of expiry, CVV, and the card number.
  • The approval for the card is made instantly after the signup step is completed and the time taken is approximately ten seconds overall. The validity of the card is usually three years from the date of issuance.
  • A user can have up to three different Coinizy cards linked to the same account. In case of extra addition of the card, a user needs to remove the cards that exist at least six times during the complete span of the existence of the account.
  • The compatibility of the debit cards from Coinizy with PayPal provides unmatched experience to the users. The verification of the PayPal account can be done using a Coinizy card and simultaneously can be used for funding the accounts also.
  • Alternate payment options can be used like the Skrill, Neteller, and foreign gambling websites only after the account is successfully verified.

Supported CurrencyUSD.

Has An App – Yes. The wallet for Coinizy can be accessed through applications on the smartphones operating on Android and IOS platforms other than the e-wallets that are based on the desktop browsers.

Anonymous – Yes.

Physical Card – No.

Virtual Card – Yes.

Card Type – VISA.

Fees

The fees related to activation do not apply for the Coinizy virtual debit card. There is a monthly fee for maintenance that amounts up to $1 USD. There is a one-time fee associated with the issuance of the debit card that amounts up to $0.5USD.

There are no additional charges when the purchases made through the virtual cards are in USD. Any other currency purchase amount to an excess charge of 3% of the total value spent as an exchange rate.

Kraken is used for exchanges using Coinizy and this is relevant for converting bitcoin to USD. There is a Surcharge of 5% for the purchase done for bitcoin on the platform using Kraken.

Countries availableThe services provided by Coinizy ranges to 130 different countries across the globe. The services cannot be availed at the US, parts of Africa, India, and in the Middle-East. However, countries like Australia, China, Russia, Continents like Europe, and South-America can avail the services of the virtual card from Coinizy.

User experienceThe support is a bit irrelevant as stated by many existing users of the virtual card due to the use of own customized font style that is not integrated as this seems a bit unprofessional for many. Apart from this, the experience for the users is tremendously benefitting.

Services providedAdding the debit card using internal account does not incur any charge and users are enabled to purchase bitcoins in a direct manner. Smooth and user-friendly use is imposed by the card.

Without any identification, a user who is not verified can use the virtual card up to a limit of $2500 USD in two transactions. Third-party funding of the card is prohibited for the unverified users. The limits do not apply to the verified users in any circumstance for the purchase that they make using the virtual card. The maximum top-up amount is set to $2000 USD each day

Security

The debit card from Coinizy is partially anonymous and completely virtual in nature which is highly secure and with the help of the user’s data encrypted.

SupportSupports Visa payment modes. There is no physical card given out by the agency. Coinizy debit cards only support payments in USD and bitcoins.

Pros

  1. The availability of the website in the French language adds on to the convenience of the users.
  2. The card fee charged initially is very low and affordable compared to the related other service providers.
  3. The unverified users have no limitations for their purchases made online.

Cons

  1. There is no option to directly purchase bitcoins.
  2. The currency used for the transaction is limited to USD only.
  3. There is no availability of physical cards; therefore, ATM transactions and local shop payments are not included as the features of the card.

Final verdict

The website of Coinizy is full of figures resembling cartoons and products can be purchased using the virtual card online. The website is available in two different languages including English and French. The website page depicts the ease of online purchases that can be made using the virtual card.

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