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SpectroCoin card review Ireland

Use this prepaid Visa debit card to spend your crypto but you'll pay for withdrawals and balance checks.

The SpectroCoin card is similar to a traditional prepaid card but you’ll first need to exchange your crypto assets for euros and then load them onto the SpectroCoin card for easy spending.

It comes with a free IBAN account but you’ll pay for all ATM withdrawals and even for checking your balance.

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0 €

Deposit fee

1 €

Withdrawal Fee

N/A

Yield rate

Details

Product NameSpectroCoin card
Yield rateN/A
Deposit fee0 €
Withdrawal Fee1 €
Fee Amount€0
More Info
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Pros and cons

Here’s an overview of the SpectroCoin prepaid Visa debit card’s standout features and shortcomings.

Benefits
  • Easily load the prepaid card with euros after converting your crypto
  • Use the card all over the world wherever you see Visa accepted
  • Free IBAN account to make spending and card payments easier
Drawbacks
  • No free cash withdrawals
  • A one-off fee of €60 for having your physical card sent by guaranteed delivery within 3 working days (or €3 for registered card delivery within 10 working days). Free standard delivery may take longer.
  • The SpectroCoin prepaid Visa debit card can only be loaded with euros

Eligibility and how to apply for a SpectroCoin card

In order to get hold of the SpectroCoin prepaid Visa debit card, you must be 18 years old and be a permanent resident in the European Economic Area, which includes Ireland. You will also need to sign up for a SpectroCoin account.

  1. You can order a SpectroCoin card in just a few minutes.
  2. Visit the SpectroCoin website and create an account.
  3. Once logged in, go to your account settings and go to the “card” section.
  4. Next, find and click on the “order card” option to order the card.
  5. Follow the verification steps to prove your identity and provide your phone number.
  6. Standard delivery is free. Otherwise, you’ll need to pay €3 to have the card sent by registered delivery within 10 working days, or it’ll be €60 for expedited delivery to receive your card within 3 working days.
  7. Select your payment method (for the card delivery fee).
  8. Once your card request is approved, you will be prompted to activate your card.
  9. After you activate your card and you receive your card in the post, sign the back of the card and then start using it.

How does the SpectroCoin prepaid Visa debit card work?

The SpectroCoin card can be loaded only with euros and you use these euros to pay for goods and services. This is in a similar way you would use a traditional prepaid card. However, with the spectroCoin card, first, you virtually exchange your crypto assets for euros and then load your card with the funds ready to spend. You can only spend money that you have loaded onto your card

It is available for free from the app, and you can choose between a virtual card, a plastic card, or both. There’s no monthly fee but if you want a physical card, you’ll pay to receive it quickly. A delivery fee of €3 for registered delivery within 10 days or €60 for expedited delivery within 3 working days. Free standard delivery may take much longer.

Main benefits of the SpectroCoin card

  • Easily load the prepaid card with euros after converting your crypto
  • Use the card all over the world wherever you see Visa accepted
  • Free IBAN account to make spending and card payments easier
  • €0 monthly maintenance fees

Main drawbacks of the SpectroCoin card

  • No free cash withdrawals
  • A one-off fee of €60 for having your physical card sent quickly by guaranteed delivery or €3 for registered card delivery within 10 days. Otherwise, standard delivery is free but may take much longer.
  • The SpectroCoin prepaid Visa debit card can only be loaded with euros
  • Any euro funds loaded onto the card are not covered by the Deposit Insurance System by the Bank of Lithuania
  • Your card will expire after 3 years

How does the SpectroCoin card compare to a traditional debit card?

With your SpectroCoin card wallet linked to your SpectroCoin account, you can easily exchange your crypto into euros. Something you can’t do with traditional prepaid cards. That said, there are no other perks with the SpectroCoin card or any offers of crypto or euro cashback.

How experienced do you need to be with crypto to use the SpectroCoin card?

SpectroCoin might be a good choice for traders looking to simplify managing their crypto assets and then exchanging them for euros. However, the card may be a little more basic compared to others on the market as you’ll still need to exchange your crypto for euros and then load these funds onto your SpectroCoin card before you begin spending. Plus there are no other benefits, which some of the other cards do offer.

What cryptocurrencies can I use with SpectroCoin?

SpectroCoin supports close to 40+ cryptocurrencies including:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • USD Coin (USDC)
  • Tether (USDT)
  • Aave (AAVE)
  • Cardano (ADA)
  • TROM (TRX)
  • Neo (NEO)
  • Tezos (XTY)

Is the SpectroCoin card safe?

The SpectroCoin card is safe to use as long as your card and security details and PIN are not compromised. That said, there is no Deposit Insurance System protection for any funds loaded onto the card.

Where can you use the SpectroCoin card?

You’ll be able to use your SpectroCoin card anywhere in the world where you see the Visa logo.

Fees and exchanges rates

Type of fee/limitAmount
Physical card delivery fee€0 for standard delivery

€3 for registered delivery within 10 working days

€60 for expedited delivery within 3 working days

Virtual card€0
Monthly maintenance fees€0
Physical card replacement€15
Card load/unload via SpectroCoin wallet€0
ATM withdrawal within EEA in EUR€1 per withdrawal
ATM withdrawal within EEA non EUR1% of the withdrawal amount (minimum €1)
International ATM withdrawal2% of the withdrawal amount (minimum €2)
ATM balance enquiry€0.50
Point of Sale transactions within EEA in EUR€0
International Point of Sales transactions0.8%
Currency exchange fee non EUR€0
Chargeback/dispute with funds on prepaid card€25
Limit of physical cards per person5
Limit of virtual cards per person99
Daily ATM withdrawal limit€2,500
Minimum load limit€1
Load limit€25,000

Verdict

Don’t expect any perks with the SpectroCoin card. Yes, it aims to make spending your crypto easier by linking your SpectroCoin wallet directly to your SpectroCoin prepaid Visa debit card. But you may find better perks elsewhere. And there’s some choice on the market now that the popularity of crypto cards is increasing.

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Virtually exchange your crypto assets for euros then load them onto the SpectroCoin card for easy spending wherever Visa is accepted.
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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