Coinsbank Debit Card Review

Blockchain services are becoming more important to the world as businesses recognize the power of this advanced financial technology. CoinsBank aims to serve as a gateway that allows everyone to harness the blockchain’s power for the management and transfer of money. The company offers a cryptocurrency wallet, a Bitcoin debit card, and a Bitcoin exchange service. It is possible to use this service for local and online shopping, sending money, and more all with a single click or swipe of the CoinsBank debit card.

About Coinsbank-

CoinsBank is one of the younger cryptocurrency debit card providers. It was created and launched in April of  2016 to significant fanfare in the industry. The official launch was held at the Money 2020 Event in Copenhagen, an event where industry insiders gathered together to discuss the future of digital assets like Bitcoin, Ethereum, and other alt coins. The company maintains headquarters in Edinburgh and is a valuable member of the UK business community.

The CoinsBank website does not have an About Us section, but it is still possible to glean information about the company and its founders. For one, the company has a LinkedIn business profile which is frequently updated. The CEO of the company is Ronny Boesing, a cryptocurrency veteran who has even founded his own exchanges. The remaining ownership of the company is structured in a complex way that is reflective of a legitimate business enterprise.

The parent company of CoinsBank is CB Exchange LP which was registered in the UK in 2015. The general partnership and limited liability partnership are both registered offshore. Additionally, XBIT LTD provides the company’s financial services, and this company is registered in Belize. Offshore registrations are not always a red flag. In many cases they indicate sound financial and business planning. Offshore incorporation can offer multiple tax benefits to a company.

One of the great things about the company is how involved it is with the Bitcoin community. CoinsBank regularly organizes events which bring together experts from the world of cryptocurrency. Past events include a symposium in Turkey that was held in October of 2016. Many leaders of the industry attended the event which was held at a popular resort. Another event was conducted on a cruise ship in October 2017. This event focused on Blockchain technology. 

Services offered by Coinsbank

CoinsBank strives for universal cryptocurrency applications. The primary services include a Bitcoin wallet which allows individuals to purchase Bitcoin at the company’s own cryptocurrency exchange. This exchange is one of the leading platforms in the world. It is then possible to spend digital assets with the VISA-backed debit card available from the company. Purchases can be made online or at physical retailers. The entire platform may be accessed from a computer or mobile devices which run Android or iOS operating systems.

Furthermore, the company helps merchants with solutions that permit the acceptance of Bitcoin at their business. Businesses can expand their sales when they choose to accept Bitcoin as a medium of exchange.

CoinsBank links its Bitcoin wallet with a user’s debit card for seamless functionality. It is possible to accomplish instant conversions between numerous currencies and Bitcoin. The base currencies available to the user include the USD, EUR, GBP, and RUB. Others such as the CHF, AUD, and JPY are available. In addition, multiple crypto coins are supported. These include Bitcoin, Litecoin, and more. Individuals can choose to receive a plastic card or a virtual card depending upon their personal preference.

Plastic cards can be shipped via airmail for a cost of 4.95 EUR. A tracking number is provided so that individuals may be aware of the card’s delivery status. Those who want the card in a more timely fashion may want to opt for expedited delivery via DHL Express. This will cost the user 39.95 EUR, but the process of receiving the card is much quicker.

No one can say that this company doesn’t provide options. Users can select from six different Bitcoin debit cards. There is a no-name option for those who want to preserve their anonymity, but this one has limited withdrawals. There is also a no-name limited card which can be ordered by citizens in any country. This includes the United States and India where most debit card providers are unable to serve. There is a very low lifetime limit on this card of $300 USD, but unlimited cards may be ordered. Most other card types from the company are not available to the US, India, or some countries in Africa or the Middle East.

There are two cards available for those who are willing to verify their identity, and this is probably the way to go. They have a lower fee schedule and higher limits. The Name Card is allowed to all citizens of non-restricted countries, and it has a cash withdrawal limit of $2,000 USD. There is no limit for online purchases. There is also a Named White card which has identical limits but reduced commission rates. The price to obtain this card is higher than other options.

Finally, there are virtual cards in two varieties. These cards can be obtained in a matter of minutes and are valid from one month to five years. The limits for these cards vary.

CoinsBank provides some enhanced security features for account holders. It is possible to create restrictions which only allow the card to be used in one country. Individuals can also prioritize multiple accounts if they choose. Multiple accounts can also be linked to a single card. It is also possible to use the apps for CoinsBank to set personalized limits on their card.

Something we have not seen before is offered by CoinsBank. Users can receive cash back when they use their card to make purchases. Every cent spent earns 10 satoshi each day. This can add up over time to a significant amount of money. 

Loading a Coinsbank Bitcoin Debit Card

The manner in which the card is loaded is primarily through the Bitcoin wallet provided by CoinsBank. Of course, it is also possible to make bank transfers to load the card. Each method of loading will result in zero fees being charge by the company, and this is a huge plus.

Coinsbank Fees and Limits

Fees at CoinBank are determined by the type of card one orders. No name cards cost $14.95 USD and named cards cost $9.95 USD. There is a small monthly maintenance fee of $1.95 USD, and cards that are inactive for a period of one year will begin to accrue a charge of $4.95 each month. It is recommended that users close their CoinsBank account if they no longer intend to use it.

To make withdrawals at an ATM are most often $4.95 USD, but this changes when the Named Limited card is used. The fee for those withdrawals is $9.95, and we’re not really sure how to explain the difference. Those who use their named card for POS transactions will not see a fee, but purchases made with no name cards are charged $0.95 per transaction. This fee, of course, applies toward the lifetime limit of the card, so a lot of use can render these cards worthless in a short period of time.

The Named White card allows users to use the card for purchases with no additional fee. Unfortunately, the card costs $99.95 to order. There is a fee of $3.95 USD for ATM withdrawals, and this is a little bit higher than the fee charged by some competitors. There is a currency conversion rate of 2.95% which is applied to foreign purchases made with the card, somewhat lower than the industry standard.

Virtual cards are priced according to their length of validity. The virtual card good for one month only costs $2.95 USD while the three-month card costs $4.95. Obviously, these are temporary options. There are also 1-year and 3-year virtual cards available which have a cost of $9.95 USD and $49.95 USD respectively. A flat 3% is charged across these cards for currency conversions, and POS purchases can incur a fee of between $1.49 and $1.99 USD per transaction. Again, this can add up very quickly for users.

It does not cost anything to top up the wallet using cryptocurrencies. This includes multiple crypto coins like Bitcoin and Litecoin. There is also no charge for loads made with bank transfers. Withdrawals from the card to wallets or bank accounts will incur a fee of 0.5% for cryptocurrencies and 1% for wire transfers. It is also possible to fund the card directly at a flat rate of $4.95 USD plus 2.95% of the transfer. Payment processors like WebMoney and PayPal can also be used to top up the card at a fee of 1-5% which is determined by the payment processor. A trading fee of 0.5% also applies to all currencies.

Coinsbank Service and Support

This company has a strong social media presence with accounts at the following addresses:


Users will find that navigating the CoinsBank website is very easy. The information one needs to make informed decisions is available without a lot of searching. There are exchange prices posted for multiple coins on the top of the website, and exchange rates are displayed in real-time. There are also a wealth of charts and other tools which are made available for the serious cryptocurrency enthusiast. The analytics offered are useful in determining which investments to make.

Users seem to give CoinsBank very high reviews across the board on forums like There have been some discussions in which users indicate issues with the wallet, but from what we can tell these issues were resolved in a timely manner. There is a ticket system on the website which makes it easy for users to submit a request for help.

Our View of Coinsbank

There is no doubt that this is one of the most reliable Bitcoin debit card services around today. Everything about the company is designed to be comprehensive in its scope. There is a wallet, an exchange, and a debit card. What more could users want from their service? Furthermore, as a full-scale financial exchange it is possible to use a wide number of currencies. The platform also supports a large number of cryptocurrencies.

There are some negatives like limited usage for residents of the US, a complex pricing schedule, and card options that can be a little difficult to understand. Nevertheless, this is a strong choice for those who are looking to use cryptocurrencies more in the future.

CoinsBank Pros

All-in-One cryptocurrency service
Wallet, exchange, and Bitcoin debit card
many major currencies are supported including the USD, EUR, and GBP in addition to the RUB, JPY, and CHF
Multiple card choices

CoinsBank Cons

Not very transparent about ownership
Free shipping is only available to premium account holders
Some fees are high for ATM withdrawals and POS transactions

As of January 2018 Visa®  terminated a card issuer’s membership, causing cryptocurrency debit card providers to suspend their services. As a result, all the cards of the coinsbank Cards Program were deactivated. Currently no cards available.