Bitrefill Card

Bitrefill Card Visa Prepaid Review: Fees, Rewards & Availability

Basic Information

The Bitrefill Card is a Visa prepaid debit card that serves as a bridge between cryptocurrency holdings and conventional payment systems, allowing users to convert their digital assets into spendable euros for everyday purchases at any merchant that accepts Visa.

Rewards and Benefits

The Bitrefill Card focuses on simplicity and transparency rather than complex reward structures:

• No built-in cashback on card spending
• No staking requirements for card use
• Zero transaction fees for EUR purchases
• No foreign exchange fees (Visa exchange rate applies for non-EUR transactions)
• Multiple cryptocurrency funding options including Bitcoin Lightning Network
• No monthly maintenance fees

While there is no card-specific rewards program, Bitrefill's general referral program offers bonuses (e.g., $5 in BTC after certain spending), but this applies to overall Bitrefill purchases rather than card use specifically.

Fees and Limits

The Bitrefill Card has a competitive fee structure designed around transparency and simplicity for European crypto users.

Note: Payments and cash-out transactions share the same spending limits. SEPA cash-out is temporarily unavailable for Swedish residents.

Card Tiers and Options

The Bitrefill Card offers a two-tier verification system that balances accessibility with regulatory compliance.

Both tiers include a €200 contactless payment limit per transaction and access to both virtual and physical cards. The Plus tier primarily offers increased monthly spending limits and removes the lifetime deposit cap.

Top-Up Methods

Users top up their Bitrefill Visa Prepaid Card by depositing supported cryptocurrencies—BTC (including Lightning), ETH, USDT (ERC20), USDC (ERC20/Polygon), or BNB (BSC)—from an external wallet directly to their card account using the Bitrefill mobile app or website. Crypto is immediately converted to euros (EUR) at market rates, with a 1.99% conversion fee applied to every deposit, and funds become available for spending instantly. This top-up process requires funds to move from your self-custody crypto wallet to the provider’s custodial euro balance, meaning users relinquish custody after the deposit. The minimum/maximum top-up limits align with the card’s KYC tier—€7,500-€15,000 monthly, and no crypto is stored on the card itself, only converted EUR. Top-ups must be completed before spending, and all card transactions are made in euros.

Self-Custody Hybrid Custody

Once users deposit their cryptocurrency to the Bitrefill Card, the crypto is instantly converted to euros, which are then held in a custodial account managed by the card issuer. This means you control your crypto until the moment you choose to fund your card, but after conversion, the resulting euro balance is entirely managed by the platform and not directly accessible on-chain. Practically, this allows for immediate euro spending throughout Europe but does mean your funds are subject to the platform's operational status—if the provider were to stop operating, you would not have direct access to your card balance. The setup prioritizes ease of use and instant access to euros from various cryptocurrencies while sacrificing full independent control over your assets once loaded. Users benefit from security protections afforded by regulated partners, but must trust the issuer for fund safety. It's a simple entry point to spend crypto in traditional settings, as long as you’re comfortable with the platform holding your spendable balance.

Supported Currencies and Conversion

Supported Cryptocurrencies

The Bitrefill Card supports deposits from:

• Bitcoin (BTC) - both on-chain and via Lightning Network
• Ethereum (ETH)
• USDC - on Ethereum (ERC-20), Polygon, and Solana (SPL) networks
• USDT (Tether) - supported for card deposits
• BNB - on Binance Smart Chain (BSC)
• POL (Polygon)
• SOL (Solana)

For fiat currency, the card exclusively supports Euro (EUR), which serves as the card's denomination currency.

Conversion Process

When depositing cryptocurrency to the Bitrefill Card:

• Crypto is converted to EUR immediately upon deposit
• A 1.99% fixed fee is applied to each deposit
• A variable exchange cost is added based on the card partner's live market price at confirmation
• Settlement is instant, allowing immediate access to funds
• All transactions and balances are displayed in euros
• Minimum deposit is €10 (deposits below €10 don't show until combined deposits reach €10)

Geographic Availability

The Bitrefill Card is available exclusively to residents of EU/EEA countries, including Norway and Iceland.

Europe

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

Restrictions:

• Not available to residents outside the EU/EEA
• Not available to US citizens regardless of residency
• Not available to Russian Federation citizens (exception: RF citizens who also hold EU/EEA citizenship)
• Not available to citizens of internationally sanctioned jurisdictions (e.g., Iran, North Korea), even if they reside in eligible countries
• Cannot use mobile numbers from Kyrgyzstan or Tajikistan for signup
• Users must be at least 18 years old
• SEPA cash-out feature is temporarily unavailable for Swedish residents
• Hungary is not included in the eligible countries list

Compliance and Security

Verification Requirements

The Bitrefill Card implements a two-tier KYC system that complies with EU regulations:

• Starter Tier: ID document and selfie verification
• Plus Tier: ID/selfie plus proof of address and source of funds documentation

Security Features

The card incorporates various security elements:

• 3D Secure protection on all transactions
• Instant push notifications for transaction monitoring
• Ability to freeze or revoke the card instantly via the app
• Two-factor authentication for account access
• Partnerships with regulated entities: Striga AS (licensed Estonian VASP) and Wallester AS (regulated Estonian fintech)

The custody model allows users to retain control of their cryptocurrency until deposit, after which funds are converted and held in the user's euro-denominated card account.

Technical Details

The Bitrefill Card operates through a partnership model:

• Platform Management: Bitrefill (Airfill AB) under Swedish law
• Card Issuance & Payment Services: Wallester AS (Estonia) with Visa licensing
• Crypto Custody, Virtual IBAN & Transaction Services: Striga Technology AS (licensed Estonian VASP)
• Mobile Wallet Integration: Google Pay supported, with Apple Pay integration available soon
• Payment Processing: Standard Visa payment processing infrastructure

This structure ensures compliance with EU regulations while leveraging specialized partners for different aspects of the service.

Banking & Financial Services

The Bitrefill Card provides virtual IBAN services through its partnership with Striga Technology AS, enabling:

• Virtual IBAN issuing for fiat deposits and withdrawals
• SEPA payment support for cash-out transactions (free within spending limits)
• Shared transaction limits between card payments and SEPA cash-outs
• Euro-denominated accounts for all card balances

Note: SEPA cash-out functionality is temporarily unavailable for Swedish residents.

Regulatory Structure and Licensing

The Bitrefill Card operates through a multi-entity regulatory framework:

• Bitrefill (Airfill Prepaid AB): Platform operator based in Stockholm, Sweden, managing the overall service under Swedish law
• Wallester AS: Estonian-regulated fintech company providing card issuance and card payment services with Visa licensing
• Striga Technology AS: Licensed Estonian Virtual Asset Service Provider (VASP) handling cryptocurrency custody, exchange services, virtual IBAN issuing, and fiat transaction processing

This distributed regulatory structure ensures compliance with EU financial regulations, MiFID II requirements, and anti-money laundering (AML) directives across multiple jurisdictions.

User Experience

The Bitrefill Card provides a streamlined user experience:

• Mobile App: Available on iOS and Android
• Core App Features: Card management, balance viewing, top-up functionality
• Support Channels: 24/7 customer service via help center, email, and live chat
• User Feedback: Generally positive, with Bitrefill maintaining a 4.8/5 Trustpilot score overall
• Common Issues: Some users report KYC requirement frustrations and occasional activation delays
• Card Activation: Virtual cards are instantly available upon approval, with physical cards requiring activation upon receipt

Best Suited For

The Bitrefill Card is best suited for:

• EU-Based Crypto Enthusiasts who want to use their digital assets for everyday purchases
• Lightning Network Users who appreciate fast, low-cost Bitcoin deposits
• Fee-Conscious Spenders who prioritize transparent pricing over rewards programs
• Multi-Chain Crypto Holders who need support for multiple networks (Ethereum, Polygon, Solana, BSC)
• Casual Crypto Spenders who need a simple on-ramp to traditional payment systems without complex staking requirements

Pros and Cons

Pros

• No monthly or annual maintenance fees
• Transparent fee structure with no hidden charges
• Support for multiple cryptocurrencies across various networks including Lightning Network
• No foreign exchange fees (Visa exchange rate applies)
• Instant virtual card issuance
• Two-tier verification system allowing users to choose their comfort level with KYC
• Free SEPA cash-out within spending limits

Cons

• 1.99% fixed fee plus variable exchange cost on all cryptocurrency deposits
• Limited to EU/EEA residents only (excluding Hungary)
• Not available to US citizens or Russian Federation citizens
• No built-in cashback or rewards program
• €200 contactless payment limit per transaction may be restrictive
• €10 inactivity fee after 12 months without transactions
• SEPA cash-out unavailable for Swedish residents

Conclusion

The Bitrefill Card offers a straightforward, transparent solution for European cryptocurrency holders who want to utilize their digital assets in everyday life. Its greatest strengths lie in its simplicity and clarity - providing a no-nonsense way to convert various cryptocurrencies across multiple networks, including Lightning Network Bitcoin, into spendable euros without hidden fees or complex requirements.

The card distinguishes itself through its zero-fee structure for regular transactions and no foreign exchange fees, while being upfront about its 1.99% deposit fee plus variable exchange costs. The two-tier verification system provides flexibility for users with different privacy preferences and spending needs, with the Plus tier offering unlimited lifetime deposits.

Where the Bitrefill Card falls short is in its geographic limitations, restricting usage to EU/EEA residents (excluding Hungary) and explicitly excluding US citizens and Russian Federation citizens. Additionally, users seeking significant cashback rewards or crypto staking benefits will find the offering lacking compared to competitors who focus on rewards ecosystems.

Overall, the Bitrefill Card represents an excellent option for European users who prioritize simplicity, transparency, and utility over rewards and complex features.

Additional Information

Card Activation Process

After application approval, users receive immediate access to a virtual card through the Bitrefill app. The physical card, if requested, is shipped separately and must be activated upon receipt. Virtual cards can be added to Google Pay immediately for contactless payments (subject to the €200 per-transaction limit).

Recent Platform Changes

Tier System Update: As of the latest information, Bitrefill Card has transitioned from a three-tier system (Starter, Plus, Freedom) to a two-tier system (Starter, Plus). The Freedom tier with live video call verification has been discontinued.

Cryptocurrency Support Expansion: The card now supports additional cryptocurrencies including POL (Polygon) and SOL (Solana), with USDC available on three networks: Ethereum (ERC-20), Polygon, and Solana (SPL). USDT (Tether) is currently supported for card deposits.

Minimum Deposit Update: The minimum deposit requirement has been reduced to €10 (previously €30 for Lightning Network). Deposits below €10 will not display in the account until combined deposits reach the €10 threshold.

Geographic Eligibility Changes: The eligible countries list now includes Norway and Iceland but excludes Hungary. Additional citizenship restrictions have been implemented for US citizens and Russian Federation citizens (unless holding dual EU/EEA citizenship).