Cryptopay is a UK-based company and has been in operation since 2013. Though launched last 2017, Cryptopay gained 450,000 registered users and 91,000 cards issued with monthly transaction volume of 22 million EUROs. It has 57 employees with 3 offices worldwide. It is also one of the longest running digital currency service providers in Europe and has a broad range of services from merchant to bitcoin transactions. Cryptopay aims to build full digital assets with debit card and payment services.
DEBIT CARD
Cryptopay offers plastic MasterCard debit card and a virtual debit card, which lets you transact your funds instantly from any ATM in your local currency. You can also use this in online and offline transactions. It can serve as a bitcoin exchange to currencies like the Euro, Pound, or the U.S. dollar and other Altcoins. Having a Cryptopay debit card allows you to exchange your fiat currencies to bitcoin and other Altcoins instantly or vice- versa anytime and anywhere, where major cards are accepted. It offers a new level of convenience especially for international travel lovers who can easily convert their bitcoin to multiple currencies in any local country they want to visit.
SECURITY
Tied-up with Bitgo, Cryptopay offers an extreme secure bitcoin FLEX wallet. The Bitgo multi-signature technology with two - factor authentication is the most secure wallet solution on the market and Cryptopay is a supporter of this. Bitgo and Cryptopay must both sign a transaction request that automatically runs through Bitgo’s standard fraud checks. Cryptopay is also full compliant with the Data Protection Act 1998 and is registered with the ICO.
Cryptopay offers international money transfer through bitcoin procedure. The advantages associated with this set up are given: 1. Payments are free 2. They are secured and instant on a global scale 3. Money can be sent this way to anyone who has access to the Internet and the recipient does not need to have an access to a bank account. The Cryptopay debit card works the same as the other debit cards and signing up to their service is quick and straight forward.
PROS
Website is easy to use and understand
Two factor authentication
Multiple functions (wallet, bitcoin debit card, bitcoin exchange, merchant tool)
Unlimited number and value of online transactions
CONS
Does not accept registrations for residents of the US
Only 5 ATM transactions loads; unloads per day are allowed
Monthly fees imposed
EXISTING PRODUCTS
Bitcoin wallet (ETH, LTC, XRP)
CPAY debit card
Merchant processing
FUTURE PLANNED PRODUCTS
Brokerage services
Current account and banking service
P2P marketplace
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