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What is the CoinSpot Mastercard?
The CoinSpot Mastercard is the exchange's newest product which allows users to spend their Cryptocurrencies in-store or online through any retailer that accepts Mastercard payments. It is the most versatile Crypto card in Australia allowing investors to spend over 370 Cryptocurrencies instantly with support for Apple Pay and Google Pay. It provides an alternative way to shop with your digital assets.
There are no credit checks or eligibility requirements for this card and you simply need to have a CoinSpot account to apply for it. Creating a CoinSpot account will require you to complete KYC (identity verification) and confirm that you are over the age of 18.
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What are the CoinSpot Card Fees?
The CoinSpot Crypto Card has one of the most competitive fee structures in Australia. The exchange currently charges zero annual or startup fees, which means you can receive and retain your CoinSpot Mastercard at no cost. That said, they do charge a 1% conversion fee on all crypto-to-fiat transactions when using the card.
How to sign up for the CoinSpot Mastercard
The process to sign up for your CoinSpot Mastercard is simple and can be done directly through their iOS or Android app. Follow this easy guide below to get access to your Crypto Card for free.
- Download the CoinSpot iOS or Android app.
- Create a free account or sign in and select the Profile button at the top of your screen.
- Select the 'CoinSpot Mastercard' button.
- Contact Support to request your Mastercard and they will respond within 24 hours.
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Can I spend Coins Staked on CoinSpot?
No, you cannot spend coins that are staked on CoinSpot Earn as they are earning interest on the platform and are locked in the staking feature. These coins are effectively locked until you unstake them, at which point you will then be able to use them to buy products in-store with the CoinSpot Mastercard. Your staked tokens can be unstaked at any time as CoinSpot has flexible staking terms.
What are the daily limits on the CoinSpot Mastercard?
The daily spend limit for users in Australia for the CoinSpot Mastercard is $4,999 over 24 hours. At the time of writing, you cannot exceed this limit by request to the CoinSpot support team, but this may change over time.
Final Thoughts
The CoinSpot Mastercard is another valuable addition to CoinSpot's ever-growing suite of Crypto-native products. The card allows investors to easily spend Cryptocurrencies with Apple Pay, Google Pay, or physically in-store with their sleek new prepaid card for low transaction fees. With over 370 cryptocurrencies available to spend, it makes the product Australia's best crypto card.
This new product makes CoinSpot the most feature-rich platform in Australia with a wide range of products including instant trading, an NFT Marketplace and NFT Wallet, Cryptocurrency staking, and much more. For more information on the CoinSpot card, we recommend that you check out their extended FAQs.
