Maestro

The Maestro debit card, linked to Mastercard, is one of the most popular methods for funding crypto accounts in Europe. Although the company has primarily targeted the European market, the card is usable in over 100 countries, making it an excellent choice for purchasing cryptocurrencies online. It’s important to highlight that Maestro offers a secure payment method, as it is protected by a PIN. Of course, it’s essential to keep the PIN safe to maintain its security. While Mastercard is more widely accepted than Maestro, here are the top crypto platforms that allow Maestro for deposits.

Summary

Most major crypto exchanges support Maestro for crypto deposits, so it’s a great idea to consider getting one. With Maestro, you can make instant transactions. Additionally, the card comes with low transaction fees, meaning your profits won’t be impacted by high charges. It’s important to note that this debit card draws funds directly from your bank account, as it does not offer credit access. While Maestro is only available as a debit card, its counterpart, Mastercard, can also be obtained as a prepaid card or a credit card.

What is Maestro?

The key distinction between Maestro and Mastercard is that Maestro is only available as a debit card. You cannot get a Maestro credit card. To obtain a Maestro debit card, you need to first open a bank account with an institution that supports the payment system.

Maestro Costs when used for crypto deposits

The typical transaction fee for Maestro is 0.75% of the total payment. When purchasing cryptocurrencies, you’ll also need to account for any deposit fees from the crypto exchange.

Transaction speed for Maestro

With this payment method, transactions are processed almost instantly. Maestro is widely used around the world, with users often choosing it for its quick transaction speed, especially when buying cryptocurrencies.

Maestro Deposits: How to do it?

1. Log into your crypto exchange account.
2. Select Maestro from the list of available deposit methods in the payment section.
3. Enter the amount you want to deposit.
4. Confirm your payment details.
5. Verify your debit card and complete the transaction.

Which are the main countries where Maestro is used?

While Maestro cards are issued to millions of users globally, it is most commonly used in Europe. Countries where Maestro is widely accepted include Austria, Germany, India, The Netherlands, and Venezuela. The card is available in over 100 countries, enabling use on numerous crypto exchanges.

Can you withdraw with Maestro?

Withdrawals from crypto exchanges are possible using this debit card. However, withdrawals may take up to three business days to process. For faster withdrawals, consider using e-wallets like PayPal or Skrill, or use Apple Pay if you own an iPhone.

Reputation of Maestro

Maestro has a solid reputation, particularly in Europe, thanks to its association with Mastercard, which makes it a popular payment option on many online platforms. If you’re not based in Europe, you might want to consider a Mastercard or Visa debit card instead of Maestro.

FAQ

Below are some common questions we receive from our visitors. If your question isn’t answered here, feel free to ask us directly.

When and why will Maestro be replaced?

Mastercard plans to replace Maestro with its own Mastercard debit card, beginning in July 2023. Starting July 2022, banks will stop issuing new Maestro cards and will replace lost or stolen cards with Mastercard debit cards. One possible reason for this shift is that the Mastercard brand attracts more users, making it unnecessary to maintain two separate brands that essentially offer the same service.

Is it safe to use Maestro for cryptocurrencies?

Yes, while Maestro offers limited fraud protection, it remains a secure option for buying cryptocurrencies. The card is PIN-protected, so every transaction requires verification before funds are released. Make sure to keep your PIN code secure.

How do I set up Maestro?

Maestro is linked to a checking account. To get started, you’ll need to open a bank account with a financial institution that supports Maestro. The bank will then issue the debit card for you.

Is Maestro instant?

Yes, deposits with Maestro are processed instantly.

When was Maestro founded?

Maestro was introduced by Mastercard in 1991. The card’s logo has undergone two redesigns, with the current version being in use since 2016.

Where is the mother company based?

Mastercard, the parent company of Maestro, is based in Purchase, New York, near Westchester County Airport.