Cryptocurrency Debit Cards – A Comparison How does Paycent stack up?

From the time the Paycent Cryptocurreny Debit Card (PYN) was introduced not so long ago, reviews have been positive. The Crypto Wisser referred to it as “incredibly competitive”. TokenTops gave it a 4.5 star rating.

As far back as 2017, forecasters knew that many fin companies were going to jump into a market boasting $150.5 billion in capitalization. Furthermore, predictions touted that the blockchain technologies market would grow by 32.5 percent in 5 years (as reported by Icorating back in 2017).

So, here we are. How does Paycent compare against other cryptocurrency debit cards that are, like baby turtles running to the ocean, doing everything possible to get into that ocean and thrive? With the Paycent card now accepted by Amazon, Ebay, RakutenUS and also listed on, it seems that they have caught the first critical wave. How are the others doing?

Let’s take a look at some of them. BUT, let’s look at from the review point of view and what people have said about them.

[The Paycent cryptocurrency debit card now accepted by Amazon, Ebay and RakutenUS.]

Cryptopay. They offer a prepaid card you can top up by converting funds to EUR, USD and GBP. The card is both plastic and virtual. The card boasts easy conversion of cryptos (BTC, LTC, XRP, ETH) to supported fiat. One review noted, “Good app to cash out your crypto. You get less money via Cryptopay compared to Coinbase when you sell your Bitcoin. Customer service is fine but I am still waiting to get the card after 2 years … “  Despite these issues, Cryptopay has over 900,000 users.

Wirex. If you live in Europe, good thing, because that’s where the card is active. It provides fiat options (USD, EUR, GBP) and cryptocurrencies (BTC, ETH, XRP, WAVES, and LTC). They also offer a reward program that pays out in Bitcoin. It seems they also have some issues, similar to Cryptopay. One review stated, “After depositing funds and going through the rigmarole of all the security stuff I ordered my Wirex card where I was informed I was on a waiting list. After not receiving a card I made enquiries only to be told it’s not available in my jurisdiction, I then tried to withdraw my funds, over 2 Wks ago and it has not turned up in my account.”

Uquid. Once again, it’s only available to our European friends. Uquid guarantees for free access to bitcoin, ethereum, litecoin, ripple, monero, dash and 83 other crypto-currencies network. Uquid gives users all the benefits of transfer coins into their Uquid wallet with a real market price. Reviews of the card are mixed.” First time I made a small deposit to buy the card. This went smoothly.
Then I made a bigger deposit and it did not show up. The problem was, you only have 10 minutes to deposit, if not shapeshift will not forward the amount anymore to uquid.”

Bitpay. Like Paycent, it is a global card. If Paycent has any competition, this is it. But the reviews are generally fraught with issues. You can read them here.

[What is obvious is that, within the cryptocurrency debit card sector, it is the fulfillment and administration of card services that is the issue.]

In a world of instantaneous transactions, customers want immediate satisfaction. If cryptocurrency debit cards are going to succeed, the ones that do (and they will), need to stay on top of the transactional process; meaning, quick delivery and access to the card (virtual or plastic), comprehensive access to merchants, and a reliable accounting of the coins, whatever coins they are.

Paycent’s Alex Agarwaal, Director of Card Programs and Partnerships, said, “The crypto world is disruptive. It is changing the way we engage economically in the world. There are plenty of fin companies out there who can get a card to market. What is critical is creating an eco-system around it [the card] that builds credibility. All the operators out there need to focus on this, or we will all pay a hefty price. Our focus with Paycent is to make sure that the customer experience is what we say it will be.”

[“What is critical is creating an eco-system around it [the card] that builds credibility. All the operators out there need to focus on this, or we will all pay a hefty price.” – Alex Agarwaal, Paycent]

Amazon and Ebay’s acceptance (among others) of Paycent speaks volumes. Despite the issues, Bitpay and others will get better at what they do because the stakes are too high for them to ignore the issues. It is only natural that the kinks will be there and have to be worked out.

Michael Kryton
EQUITY IR contributing writer for Equity IR
Professionally, Michael has been generating ideas and creating all forms of creative communication for over 40 years: advertising commercials, corporate videos, web series, live corporate events and shows, and television documentaries, The writer-producer-director is also tapped as a strategic creative communications consultant. He continues to perform as a voice talent behind the microphone, as well as a performer on-camera and a composer-musician. His collaborative creative approach is a blend of art, science, and instinct.

Originally from Montreal, Michael trained in music and theatre. He studied piano performance and music composition through the Royal Conservatory of Music (Toronto). His background in theatre includes studies at Concordia University, National Theatre School and the Toronto New School of Theatre. Michael also pursued undergraduate studies at the University of Alberta and the University of Victoria, focusing on English, economics and commerce.

He has won awards in Toronto, New York, Hollywood and has also received the Alberta Achievement Award.
When he is not writing, he enjoys music, movies and documentaries and continuously cheerleads colleagues in the industry.

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