Simplex Debit card review 2021

Supported Coins: 5
Annual fees:
No Paypal allowed
No Credit
No Integrated Exchange
Yes Included Wallet
Yes US Customers
No Supports DeFi
No Supports API

Simplex is an EU-licensed financial institution, providing the fiat infrastructure for the crypto industry. Simplex processes crypto-to-credit card payments with a 100% guarantee – in case of a fraud chargeback, the merchant gets paid by Simplex

Simplex Debit card
Simplex Debit card

Pros & Contras :

  • Very fast payment processing
  • Secure and reliable
  • Very simple to use
 
  • Does not support some cryptocurrencies
  • Higher fees than with some cryptocurrency exchanges

Details and information about the Simplex Debit card

Fast Transactions

Transaction speed refers to the time that it takes for you to receive your cryptocurrency coins after you make a payment to the exchange. As you can imagine, this is a pretty significant point, both when it comes to this Simplex review, and some cryptocurrency exchanges, in general.

Due to the way that Simplex works, it provides instant payment processing - in most cases. The company states that some payments might, in fact, take between 48 and 72 hours to process. However, these are outlier situations - the only occur when there’s some stalling happening due to verification checks or similar issues.

The general rule, however, is that Simplex crypto transactions happen immediately - there is no delay.

Instant transactions are, as you can probably agree, great - this means that if you’re in a hurry, you won’t need to wait until you receive your crypto coins.

Lack of Cryptocurrency Support

It includes most of the “mainstream” cryptocurrencies on the market (Bitcoin, Ripple, Ethereum, Litecoin, etc.), some people who might want to purchase some more-niche coins could still be left disappointed.

Fees

One of the last points that we need to discuss in this Simplex Bitcoin review are the fees that are applicable to your transactions.

Simplex charges its users fees of up to 5%, depending on the size of the transaction, your credit or debit card company, your location, and so on. While these fees might not be the smallest around, they are still justified by the fact that you not only receive the chance to purchase cryptocurrencies with a credit card, but are also receiving super-secure and fast transactions.

 

Simplex Debit card review and fees

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