Founded in 2017, the London-based Trastra was founded by Roman Potemkin. He is a Fintech entrepreneur with over 12 years of experience and is currently the CEO of Trastra.
The core product of Trastra includes a Trastra Visa Debit card, a crypto card that can enable its users to convert their cryptocurrencies to EUR and vice versa. The Trastra cardholders do not need a bank account to convert their crypto assets to EUR.
Once you sign up for the Trastra solution, you will be able to access BTC, LTC, BCH, XRP, and ETH wallets. It also comes with an IBAN account that enables the Trastra users to receive EUR. Other benefits for the users include the instant exchange of crypto assets to EUR and vice versa, low commissions for purchasing cryptocurrencies via IBAN transfers, and a Visa debit card.
Trastra provides users with an option of accessing their accounts from the web and mobile applications. But there are geographical restrictions on who can sign up for Trastra solutions as it is only available in the European Economic Area now. In terms of supported cryptocurrencies, Trastra supports Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
Trastra makes it possible to control the Trastra Visa Payment Card via mobile application and a simple web app. Cardholders can use the app to load their Trastra card or through IBAN transfer. Users also receive in-app notifications after any card and account usage, along with email notifications. In case someone loses their card, they can instantly disable it through the Trastra application. Once the card is found, they can easily re-enable it from the application.
Pros and Cons of Trastra
- Trastra makes it easy for its users to buy and sell cryptocurrencies in EURO.
- Timely customer service.
- Compared to major players offering crypto debit cards, Trastra charges low fees on Trastra's Visa debit card. The one-time issuance fee is also less than the $15 industry-standard issuance fee.
- Supports only 5 cryptocurrencies now.
- Only accepts users from the European Economic Zone, which includes 31 countries only.
- No stablecoins like USDT or USDC available currently.
- There is a fee of 3% on cash withdrawals using the Trastra card in non-Euro areas, in addition to the fixed fee of €2.25.
- Trastra Visa debit card has limits on the amount cardholders can withdraw and spend on it daily.
Frequently Asked Questions About Trastra
You may still have questions after reading the rest of this review. We’ll do our best to answer the most common questions people have about Trastra below.
Are there any geographical restrictions on who can use Trastra?
Yes, Trastra is only available to users from the European Economic Zone. Hence, only users from 31 countries can sign up for the services of Trastra. These countries are Austria, Belgium, Bulgaria, Czech Republic, Croatia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
What are the Current Fees on Trastra?
There are a variety of fees for using Trastra. It includes service fees, card fees, and crypto fees. Account registration, 5 multi-crypto wallets activation, payment account creation, card delivery, and mobile apps are free. As for services fees on Trastra cards, the cardholders will have to pay a monthly card management fee of €1.25 along with a €9.00 issuance fee.
Trastra does not charge any fee on the crypto exchange, offline, and online card purchases. For offline and online non-Euro card purchase, cardholders will have to shell out 3% of the transaction as a fee, €0.20 fees on the internal card to card transfers, €0.35 fees on ATM balance inquiry, €0.40 on ATM pin change, and €2.25 on ATM withdrawals.
If Trastra cardholders withdraw cash from ATMs outside European Economic Area, they will have to pay a €2.25 fixed fee along with 3% of the transaction value.
As for crypto fees, Trastra users will have to shell out 5% of the buy order value as a fee. Sending crypto to external wallets is also chargeable as a standard mining fee applies. Depositing cryptocurrencies and exchanging crypto to EURO is free for the Trastra users. Sending cryptocurrency to Trastra's internal wallet is also free.
What are the limits on a Trastra card?
The maximum card balance limit is €8000, with a daily spend limit of €7700. There is a daily ATM withdrawal limit of €300, whereas the overall spend limit is €8000.