Crypto fiat cards is a new payment instrument which becomes increasingly popular with the development of the cryptocurrency market. Crypto cards are used as traditional banking cards for paying for goods and services. But instead of being replenished by fiat money, they are reсharged with cryptocurrencies. Crypto cards bridge the traditional financial world with a new world of digital currencies.
A new opportunity to pay at offline POS with cryptocurrency cards appeared thanks to the automatic conversion of digital currencies into the necessary fiat currency: instead of cryptocurrency the seller receives traditional fiat money for goods or services. It is convenient for the crypto card holder because it is no longer needed to manually convert currencies or transfer money from one account to another. In recent years, many services have appeared on the market offering to issue a cryptocurrency card. Each crypto card has its distinct features: some cards are available only for the US and EU citizens, some require the conversion to the internal platform tokens, and some offer to link funds with their own cryptocurrency address. In this review, we will look at how the TTM Bank crypto card, which attracted us with its concise design, ease of use and favorable conversion rates, works.
At first, we emphasize the key benefits of the TTM Bank crypto card which favorably distinguish it from other similar financial products:
- Available for the residents of Russia;
- Supports four digital currencies: BTC, ETH, USDT и TRX;
- Instant conversion of deposited cryptocurrencies to euro;
- Withdrawals in fiat at any ATM that supports VISA;
- The deposited funds are stored in the licensed bank.
Let’s dive deeper into TTM Bank crypto card terms and conditions. The card is a product of the TTM Bank, which is the trade name of btc2wire company registered in Estonia. Distribution, delivery and management of card accounts are carried out by the company’s partner, financial services operator UAB Walletto, registered in Lithuania and a member of the VISA payment network. Deposited funds in fiat currency are stored in a licensed bank. Therefore, the crypto card can be used at any place that accepts VISA.
Users can order a stylish elegant black plastic card or its virtual version.
How to get the TTM Bank crypto card
To receive the TTM Bank crypto card, the user can follow the easy registration process, confirm the email and fill the profile with such data as name, surname, the address of residence and citizenship.
In accordance with the EU regulation, it might be needed to follow the AML/KYC procedure and send the identity verification document (for the residents of Russia it is the international passport).
The default option is the classic plastic card delivered to the address used in the sign-up form. The delivery is carried by DHL free of charge for the cardholder.
To complete the registration, it is necessary to make a first deposit of 100 euros. The payment can be done with cryptocurrencies or via traditional banking card the funds from which will be withdrawn in fiat.
Cardholders can also make instant transfers to the accounts of other TTM Bank crypto card holders without fee. Transfers are made in euros. The sender only needs to specify the recipient’s card number and the full name of the addressee user.
Another convenient feature of the TTM Bank crypto card is the ability to issue a chargeback if, for any reason, goods or services purchased using this card were not delivered.
Special attention should be paid to the technical support of TTM Bank. The support service works around the clock and responds to all requests very quickly — a pleasant difference from many other services. Communication with the support service can be carried out either through a chat in the TTM Bank personal account, or by email. If necessary, the managers will contact the customer by phone.
The fee for card maintenance per month is a fixed amount — 2 euros. Transaction limits are set at 2,500 euros per day for both online and offline payments, as well as for cash withdrawals with conversion to fiat at ATMs. Please find more information on fees and limits here.