You apply for the CoinW Card inside the CoinW app, but the step that decides whether you get one happens somewhere else. Fiat24, the bank behind the card, opens a personal account in your name and runs its own identity checks before anything is issued. I would start with the card details screen, because it lists every fee and limit in one place. The part people get wrong is the order: the card sits in pending activation until Fiat24 approves you, and only then do you pay the issuance fee and put at least 10.00 USD on it.
What the CoinW Card is
The card is a debit card tied to a CoinW account. It runs in USD, spends from a balance you top up in the app, and supports Apple Pay and Google Pay, so the plastic can stay in a drawer for most purchases.
CoinW does not issue it alone. The application hands you to Fiat24, which opens a personal bank account under your legal name along the way. You end up with a bank relationship as well as a payment method on an exchange, and that is the part worth weighing before you start.
Cards like this one are a way to spend, not a way to invest. Your coins sit on the exchange, you move value onto the card, and the card turns it into ordinary money wherever card payments are accepted. Any rewards are a small side payment rather than a yield, and the balance you load is money you have already decided to spend.
The creator, Trading is Chess, has used the exchange for more than a year and rates it: "I've been using CoinW for more than a year and I can say it's a reliable exchange where you can buy, sell, trade, and store your crypto assets." That is one user's report after a year of use, not a forecast. Exchange risk stays with you either way, because an account is only as dependable as the company's operations and the rules of the country you live in.
Fees and limits on the card details screen
The card details screen lists the whole offer in one place.
| Card setting | Value |
|---|---|
| Currency | USD |
| Card issuance fee | 0.00 USDT |
| Monthly fee | 0.00 USDT |
| Annual fee | 0.00 USDT |
| Recharge fee | 1.50% |
| Spending limit | 100,000.00 USD per day |
| Daily top-up limit | 100,000.00 USD |
| Minimum top-up | 10.00 USD, both for the first top-up and for each later one |
Three of those numbers are zero: issuance, monthly and annual fees. As listed, the card has no standing cost. The charge that does exist is the 1.50% recharge fee on top-ups, and it is the number to carry around in your head. On a 100.00 USD top-up that is 1.50 USD. On the 10.00 USD minimum it is 0.15 USD. A card with no monthly fee still costs something to run, and here the cost sits in the percentage on every top-up.
The limits are generous for personal use: 100,000.00 USD of spending a day and the same figure as a daily top-up limit. The minimums are the more useful part, because they set the smallest sensible test. You can open the card with 10.00 USD and add 10.00 USD at a time later. If you want to see how a crypto card behaves before you trust one with a month of expenses, that is what you work with.
What you need before you start
A CoinW account comes first, and it has to be verified. CoinW asks for at least primary KYC, the identity check every regulated exchange runs: you send a document and a selfie, and the exchange confirms who you are before it lets money move. The app is available on Android and iOS through Google Play and the App Store. Once you are verified, hold enough USDT to cover the issuance fee and the initial top-up, either by depositing it or buying it in the app.
Fiat24 needs more than a photo. Have an original physical ID card or passport to hand, because the process reads the chip inside the document rather than a picture of the page. Your phone needs NFC, the short-range radio that also makes tap-to-pay work, and location services have to be switched on. A stable internet connection and your primary email address complete the list.
Two things trip people up. The CoinW app has to be on version 10.1.12 or later, so update it before you begin rather than halfway through the flow. And type your name exactly as it appears on the document, because the bank account Fiat24 opens is issued under your legal name and a mismatch is the kind of thing that stalls a bank application.
Applying in the CoinW app
- Update the CoinW app to version 10.1.12 or later.
- On the home screen, tap View All and choose CoinW Card from the list.
- Select CoinW iPay Card.
- Tap Apply Now.
- Tap Apply, enter your first and last name as they appear on your ID, and tap Continue.
Continue is where CoinW hands you over. The screens after that belong to Fiat24, and the card's fate is decided by that bank's checks rather than by anything in the CoinW app. Keep the app open and finish the next part in one sitting if you can, since the flow depends on the same phone that reads your document chip.
Registering with Fiat24
The registration is the long part of the application, and it is the part worth preparing for. Work through it in this order:
- Tap Sign In Card Service.
- On the message that appears, choose Register.
- Check and confirm your residence and tax domicile, then tick the eligibility declarations.
- Select every purpose of account that applies to you. The screen treats this as a risk assessment, so answer it accurately.
- Enter your primary email address and the verification code it receives.
- Read the chip in your identity document over NFC, following the on-screen directions.
- Complete face verification with the front camera, in good light, with nothing covering your face.
The declarations deserve a slow read. You confirm where you live and where you pay tax, accept the eligibility statements and pick the purposes your account will serve. Banks use those answers to decide whether they want the business, and answers that do not match your documents are a straightforward way to have an application questioned.
Two ways to read the chip
The document check reads a chip, not a photo. A biometric passport or ID card carries a chip holding a signed record of the holder's data, and reading it over NFC is how the app confirms the document is genuine. There are two routes to the same result. Scan the QR code on the screen with your phone and follow the prompt, or install an app called ReadID Ready and paste the request number from the CoinW flow into it, which means installing a third-party app in the middle of a banking application. Either way, leave NFC on, keep the connection steady and follow the directions on the screen rather than improvising.
Face verification follows the chip. The front camera needs permission, the light should be even, and nothing should cover your face or the frame. Once the checks are done, Fiat24 sends a confirmation email saying the account has been opened, along with a personal bank account in your legal name. The card details screen gives a review time of 12 to 48 hours, and the creator puts typical processing at one to two business days. I would not start this the evening before a trip.
Activating the card after approval
Approval is not the end of the process. Once Fiat24 confirms the account, go back to CoinW iPay Card, tap Apply and set an initial top-up of at least 10.00 USD. That payment covers the issuance fee, listed at 0.00 USDT, plus the top-up itself, and the 1.50% recharge fee applies as it will to every later top-up. The card then sits in pending activation.
To switch it on, open the CoinW iPay Card entry again, tap the pending activation notice and confirm it. Then sign in to Fiat24 and tap Activate Card. The card works once that last tap goes through, with Apple Pay and Google Pay available for everyday spending. It is a short sequence and an easy one to leave half finished, so treat the pending status as unfinished business rather than a card you can already use.
Cashback and referral rewards
Trading is Chess lists cash back, incentives and referral rewards among what the card gives you after activation, and describes reward perks as one of the reasons the product is worth a look. A rate is only worth what its conditions allow, so I would get four things in writing before counting on anything: the percentage, the monthly cap, the asset the reward is paid in, and whether holding a particular token is required to qualify.
Crypto cards commonly pay cashback in the issuer's own token rather than in dollars, tie the rate to how much of that token you hold or lock up, and cap the monthly payout. That structure turns a spending perk into a small position in a volatile asset and ties part of the card's economics to a company token you may not otherwise want. Read the reward terms as one document with the fee schedule rather than as a headline number.
What I would avoid is letting a cashback offer decide the size of your top-ups. The fee is charged on what you load, the reward is paid on what you spend, and the two only line up if you were going to spend the money anyway. Getting a percentage back on grocery bills is a fine thing. Chasing the percentage with purchases you would not otherwise make costs more than the fee schedule suggests.
The risks I would weigh
The identity trail is the first one. You send a passport or ID chip reading, a face scan, your residence and your tax domicile to Fiat24, a bank you may not have dealt with before, and that data sits in a banking record rather than only in an exchange account. Anyone applying should be comfortable with that exchange of information, because it is the price of a card with a real bank account behind it.
The second route for the chip check needs a separate app, ReadID Ready, installed on the phone that also holds your exchange login. I would confirm the publisher and the download source before installing anything that reads a passport, and I would remove it afterwards if I did not expect to use it again. That is caution rather than a warning about this particular app.
Counterparty and access risk is the one people skip. Money loaded onto the card is held for you by the exchange and the issuer, so an account restriction, a frozen balance or a card programme withdrawn from a market takes your spending money with it. Cards are issued country by country, and the Fiat24 form asks for residence and tax domicile up front, which is where eligibility gets settled.
The funding asset carries its own risk. Top-ups are made in USDT, a token designed to hold a dollar peg, and pegs of that kind have broken under stress before. A depeg would land on your card balance at exactly the moment you wanted to spend it, which is why I would not park a large balance on a payment card for months.
Then there is tax. Spending crypto can count as a taxable sale in many countries, so a top-up that converts USDT into a card balance, and the purchases that follow, may both need recording. Rules differ by country and by how long you held the asset, and the safe habit is the same everywhere: keep a dated log of every top-up and every payment, and check your local treatment before the year ends.
The video does not give the currency conversion or ATM fees, or say whether the card balance sits with CoinW, with Fiat24 or in a wallet you control, so read the card's fee schedule and terms before you fund it.
What to check before you fund it
Start at the minimum. Load 10.00 USD, make one small purchase, and watch what the balance does after the transaction settles. That single test tells you more about the card than the 100,000.00 USD daily limit does, and it costs almost nothing if something goes wrong.
Put the 1.50% recharge fee next to the other charges on the card's fee page and work out what your normal monthly spending would cost you. If you spend 500.00 USD a month through the card, the fee comes to 7.50 USD, which is the real price of the product for you. Compare that with whatever cashback rate you can confirm in writing, and decide on the difference rather than on the marketing.
Before you type a passport number into anything, open CoinW from the official app you installed from the store and follow the Card entry inside it. Do not reach the Fiat24 sign-in page through a link sent in a chat group, and never hand a recovery phrase or a card PIN to anyone who asks for it, whatever they claim to be verifying. Confirm that your country is supported during the Fiat24 registration rather than after you have paid, and note the review window of 12 to 48 hours so the wait does not catch you out.
The number I would remember from the card screen is 1.50%. It is the one recurring cost the card lists, and everything else on that screen is either a limit or a zero.
