The LVL Debit Card is a Mastercard debit card that lets you spend cash from your Bitcoin anywhere that Mastercard is accepted. Unlike prepaid crypto cards, which convert your Bitcoin to cash and then “load” it to a debit card, the LVL debit card spends cash directly from your LVL checking account. And while prepaid crypto cards charge 2-5% fees to convert your Bitcoin to cash and store it on the card, all conversions between cash and Bitcoin on LVL are free with no trading fees and no hidden spreads. The LVL Debit Card is available at no charge for all LVL users.
We partnered with Mastercard because we believe Mastercard offers the premier premium payment network. Like LVL, Mastercard believes bringing Bitcoin to the world’s payment networks is about choice. While many crypto debit cards have been announced, few have been released. We’ve been blown away by Mastercard’s vision, support, and effort to bring the LVL Debit Card to market. Here’s how it works:
- The LVL Debit Card is linked to your LVL checking account in the same way a debit card would be linked to a checking account at a traditional bank.
- The LVL Debit Card spends cash from your checking account. The funds in the checking account can be topped off by selling Bitcoin at any time, for free, and with no transfer delays.
- In the coming months, we will introduce automated top-offs which ensure that funds are always available when you swipe your card, while keeping the vast majority of your assets invested in Bitcoin.
- Over the long term, we hope to build on our partnership with Mastercard to allow Bitcoin to be “automatically” converted to cash when you swipe your card.
Mastercard is the world’s leading premium payments network. The Mastercard network powers payments between consumers, merchants, and financial institutions. With over 50 years of technology experience, Mastercard operates in and connects over 210 countries today. Mastercard’s purpose is to enable an inclusive digital economy by making transactions safe, simple, and accessible. In 2021, Mastercard announced that it was bringing cryptocurrency onto its network including through a partnership with LVL.
LVL Premium members have exclusive access to our Founder's Edition, Mastercard World Elite card, which is a high-quality black metal card. This card will be released later this year.