With the growing acceptance for cryptocurrency, you will be able to use a crypto debit card anywhere that accepts traditional payment cards. Transactions are even easier because crypto card providers are working hand in hand with major payment processors, including MasterCard, Visa and UnionPay.
Changing from one cryptocurrency to another is even easier, with lower fees, as crypto debit card providers are making it possible. No need to stand in long crowds waiting for your turn at a bank, you can now do it online at home.
Most providers offer two kinds: a physical and a virtual cryptocurrency debit card. For online purchases, you can get a virtual card as it will cost less than a physical card. However, if you need it for POS purchases, you certainly have to get the physical debit card.
What is the best crypto debit card?
If you need an excellent means to get instant power to purchase bitcoin, Ethereum, and a lot of other cryptocurrencies, then you need a crypto debit card. Unlike traditional credit cards and debit cards, crypto debit cards are a perfect bridge between the cryptocurrency economy and the existing financial system.
Crypto debit cards perform the same functions as conventional debit cards. They are also accepted in countries where traditional debit cards are accepted. Most debit cards can be loaded with different digital currencies and you can exchange your cryptos for fiat.
There are a lot of crypto debit cards to choose from with different features and risks. Therefore, the best debit card is determined based on user preference. A crypto debit card is considered the best from personal experiences, just like a typical credit card.
However, in choosing the best cryptocurrency card, among the main factors you should always consider are the exchange rates and fees before signing up. Compare the significant variances between each one and weigh costs and safety.
How to choose a crypto debit card
In choosing a card to replace the hassles of paying directly from your bank account, you need to know the supported cryptos, if the card is universally accepted, its charges, self-service, customer rewards, and how it works. You may also want to consider other unique features of the card, whether you can lock-in exchange rates in case of price instabilities.
Now, it’s up to you to check out crypto debit cards on the market and make comparisons using these features. With this, you can know the best cryptocurrency card for you to convert digital currencies like Bitcoin into fiat currencies. Generally, for all cards, you need to research on the following, the same way you would do for any financial decision:
- Fees – Look into all the fees that come with the card: maintenance, withdrawal, inactivity, etc.
- Exchange rate – Be sure to check the exchange rate you get every time the provider converts crypto into fiat. Learn more about the provider’s conversion chart.
- Transaction limits – Find out the load limit, daily spending limit and withdrawal limit.
- Mobile app – Much like regular banking, you need to check if the provider has a mobile application to make your cryptocurrency so much easier to maintain.
- Company background – Go to forums and other online communities to learn more about the company. Read reviews to on whether the company has been in any fraudulent activity.
However, if you have a problem deciding on the best crypto debit card acceptable in many countries, here are a few platforms to choose from.
At crypto.com, there is a card option that is suitable for every individual lifestyle; from an individual who loves going to the eateries to another who nee airport lounge access or even retailers, crypto.com is ideal for everybody who wishes to go beyond the use of a bank account and make transactions using bitcoin.
To obtain a crypto.com debit card, users may be required to own their native CRO token. Many cheap options offer generous cashback rewards of up to 8 percent, depending on the type of card you chose. It is worth checking out the card tiers available at crypto.com and obtaining any of their fantastic cards so you won’t miss out on these rewards.
This card, like other crypto debit cards, allows users to spend your cryptos’ value without selling them. It is accepted worldwide by over 40 million merchants, and unlike regular debit card linked to a bank account, no monthly or annual fees are deducted. The Nexo card can be ordered and managed from the Nexo App, giving you instant worldwide access to your credit line.
You will get 2 percent rewards with all products purchases using this card; view and change your pin at any ATM if needed. The Nexo app is equipped with military-grade 256-bit encryption and 24/7/365 fraud monitoring mechanisms, guaranteeing clients’ funds and transactions.
With its Visa debit card, you can conveniently secure and spend your tokens worldwide with acceptable spending limits for customers. The Monolith card allows you to purchase anything you want in the form of fiat currency. However, all ATM withdrawals may attract further charges from banks. Also, the card is not available in the United States but across Europe.
Monolith is a DeFi platform built on Ethereum, so the card itself supports all ERC-20 tokens. Customers load the card with any ERC-20 pass of their choice and then spend the funds through its Visa-backed fiat gateway.
What more, obtaining a card on Monolith is free, and unlike traditional debit cards, a Monolith crypto debit card doesn’t charge for maintenance. You will only be charged for replacing a Monolith Crypto debit card.
This platform has the Ternio BlockCard that makes buying and selling bitcoin and other cryptos more comfortable than ever. This card allows you to convert bitcoin to dollars and purchase what you need. The card supports over 12 cryptos, including Bitcoin, Ethereum, Litecoin, Ripple, and other glorified assets in any country. It is also suitable for US citizens.
BlockCard allows you to deposit your cryptocurrency, convert it into dollars or fiat currencies to fund your account, and start spending in minutes by following four easy steps — Registration, depositing funds into your account, passing KYC, and getting your virtual card. With no cryptocurrency transaction fees, cryptocurrency conversion fees, and deposit fees, BlockCard is one of the best crypto debit cards out there.
The Wirex Visa debit card automatically converts more than 12 digital currencies and traditional currencies at the point of sale, letting you seamlessly spend your crypto and multiple cash in real life, in places where Visa is accepted. With this visa card, you can buy, purchase products from shops, store, exchange, and spend your bitcoin and other cryptocurrencies and traditional banknotes anytime, anywhere.
This is another debit card platform that allows you to convert your bitcoin and other cryptocurrencies into fiat with a loading and withdrawal limit of up to 10 000 USD per day. To get the card, you will need to download the app, fund your wallet, and then place an order.
The card was designed for people who want to live a life of cryptocurrency. Therefore, it is a prepaid MasterCard for cryptocurrency communities around the world.
Coinbase card is a Visa debit card funded by your Coinbase account, i.e., you don’t need to top up your account balance directly from your bank account, a straightforward and fast way to spend your crypto anywhere in the world, including Europe and Africa. A Coinbase card is built to offer a loyalty token for coinbase users.
The use of crypto debit cards is a straightforward way to stake, make instant transactions and payments. Now, you can choose from the above debit cards from any platform and enjoy the ease of spending BTC anywhere around the world, including Canada, the US, etc.
How do crypto debit cards work?
The mechanism of a crypto debit card is something extraordinary. This will allow you to use your money freely without having to pass through the rigorous process of converting your digital currency into fiat currency. Although the conversion rates of the crypto debit card provider may not be as favorable as the average market rate, it provides an additional layer of convenience that will make you overlook the slightly increased cost.
Even if most merchants don’t accept bitcoin and other cryptos as a form of payment, your crypto debit card has been designed to make the conversions so you can directly spend your coins when needed with little or no spending limit.
Buying bitcoin and other cryptocurrencies with a debit card used to be very hard, but companies like Coinbase, Paxful, and Coinmama have made the process very easy and fast. So, yes, you can buy cryptocurrency with your debit card.
After making the choice of a crypto debit card, you will have to create an account on their platform and get verified before you can start using it for purchases or changing your cryptocurrency to fiat currency. There are some platforms that offer free cards but some cards come with a purchase fee. Once you’ve logged into your account, all you have to do is press the “Apply Now” button to sign up for a card..
You can either purchase a card directly or fund your wallet first before your debit card is issued. When you want to cash out using a your debit card, for example, a Bitcoin debit card, try to search for the nearest Bitcoin ATM by going to Coinatmradar, a website that shows a live map of functional BitcoinATMs, then follow the process here.