PayItFast Review: Spending Crypto With a Virtual Card, and What to Check First
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Quick answer
PayItFast is an app that lets you hold and send digital assets and spend them through a virtual payment card at Visa-accepting merchants, with a physical card announced. Crypto cards are convenient, but costs hide in conversion spreads and fees, and you're trusting the app with custody. Check who issues the card and what you'll actually pay per transaction.
| Type | Crypto wallet app with virtual card |
|---|---|
| Spending | Visa-accepting merchants online and in store |
| Transfers | Sending to users in 100+ countries (per the company) |
| Physical card | Announced, waitlist |
| Platforms | iOS and Android |
| Key checks | Card issuer, fees, FX spread, custody |
How crypto cards work
When you pay with a crypto card, the app sells your crypto (or uses a stablecoin balance) and the card network pays the merchant in local money. The card itself is issued by a licensed partner, often a bank or e-money institution, under Visa or Mastercard rules. The crypto app is the front end.
What PayItFast offers
PayItFast combines holding, transferring and spending in one app. Users get a virtual card for online and tap-to-pay purchases, can send assets to other people across many countries, and the company says a physical card is coming. Its pitch is spending crypto like local currency when travelling.
Where the costs hide
- Conversion spread: the difference between the market price and the rate you get when crypto is sold.
- Card fees: issuance, monthly, ATM and foreign-transaction fees.
- Top-up and network fees when you move crypto in.
Test with a small purchase and compare the amount deducted with the market price at that moment. Our USDT converter helps you check the fair rate.
Custody and safety checklist
- Find the card issuer's name and licence in the app's terms.
- Check whether funds are custodial (the company holds them) or self-custody.
- Look for proof of reserves or audits.
- Enable two-factor authentication and card freeze features.
- Keep only spending money on any card app.
Main risks to know
- Custodial app: you rely on the company's solvency and security.
- Hidden conversion spreads and fees.
- Card programmes can be suspended if an issuing partner pulls out.
- Spending crypto may be a taxable disposal in many countries.
Frequently asked questions
What is PayItFast?
A crypto app with a virtual card that lets you spend your balance at Visa merchants and send assets abroad.
Is there a physical PayItFast card?
The company has announced one with a waitlist.
Are crypto card payments taxable?
In many countries spending crypto counts as selling it, which can create a taxable gain. Check local rules.
How do I check PayItFast's fees?
Read the fee schedule and test a small payment, comparing the amount deducted with the market rate.
Sources
- PayitFast on DefiLlama · Project listing
- PayitFast card overview · Card features summary
- Crypto tax basics (HMRC guidance) · Example of spending as a disposal
Figures such as prices, supply and user numbers change quickly. We cite the source and date; check the live figure before you act.