Compare The Best Crypto Debit Cards
April 2024

What are Crypto Debit Cards?

Crypto debit and credit cards are getting more popular day by day. There are big well established major players and new start-ups offering a variety of different cards with very different innovative features. Crypto debit cards are like pre-paid cards. You can use it as you do with other bank issued debit and credit cards. You can use a crypto debit card wherever the major card issuer companies like Visa or Mastercard, are accepted. The merchant will receive the payment in fiat currency. Your crypto holdings will be automatically converted into fiat at a current price and payment will be finalized. You can choose any digital currency offered by the issuer. The most common cryptocurrencies are Bitcoin, Ethereum, and XRP. There are also many Altcoins accepted depending on the issuer company. You need to top up your card to be able to receive a spending limit.

What are the advantages?

The biggest attraction about the crypto cards is the exciting perks! Crypto debit cards have crypto reward programs. You earn crypto rewards when you use and spend with your card. Most crypto cards offer Bitcoin, but there are also other options depending on the issuer company. Some cards offer cash back rewards up to 8% on all eligible purchases. Most crypto cards don’t have any kind of annual or membership fees.

Hodling crypto assets is a very important investment method against inflation nowadays. Most people believe that crypto prices will surge in long term and want to keep them. When you have a crypto debit card, you will be assigned a limit depending on your crypto assets. Your crypto assets will be held as collateral while you can enjoy spending your card.

One of the coolest things about crypto cards is you are protected against high fees when you travel abroad. Banks usually charge annoying amounts when you use your domestic card in another country. This problem is solved when you have a crypto card because Bitcoin or your selected digital currency will act as a bridge. Your cryptocurrencies will be converted directly to the local currency where you spend. We can say crypto cards are universal.

Some crypto cards come with an entertainment package including free Netflix, Prime, and Spotify memberships. There are also many different advantages depending on your tier. If you have a premium level crypto card, you can enjoy airport lounge services.

How to get a crypto debit card?

There are crypto exchange platforms, crypto saving, and lending platforms, and DeFis offering crypto cards. You can easily apply by visiting their websites, But first, you need to create an account on the selected platform and send the required funds to the wallet on that platform. Some companies require you to stake some coins and give a certain limit depending on the amount you have staked. Some companies directly enable you to make purchases by using your crypto assets. Before you apply for a crypto card, read our research and reviews about the cards. You can compare cards using our comparison tool on our website.

You need to do KYC requirements to obtain a crypto card. But KYC is required to avoid identity theft, money laundering, and financial fraud. You will not be required to share your social security number. No credit checks are required. Your credit score will not be affected.

You don’t have to receive your card as a plastic card mailed to your address. You can easily use the online mobile version. Crypto cards are adaptable for Apple Pay, Samsung Pay, or Google Pay. You can use your crypto card just by using your mobile phone.

How to decide which card is best for you

There are many different options offered by different companies. You can read our explanatory guide and compare crypto cards our website. But first, you need to figure out why do you need a crypto card and how you are going to use it.

Different companies have different fees. Consider all fees before you decide. There is a list of different fees that companies charge. You can read what they mean and make your decision considering fees.

Deposit fee: There is a deposit fee, when you fund your account, some companies cut a small fee.

Annual fee: it is like traditional debit and credit cards, you pay a monthly or annual fee as a cardholder. ATM withdrawal fee: When you withdraw fiat currency by using an ATM, you may be charged some fees.

Foreign Transaction fee: When you use your crypto card in a country where local currency is not supported by the card issuer, you may see some charges.

Liquidation fee: If you run out of your crypto assets or collateral, you may have to pay a liquidation fee.

Transaction fee: You will be charged for each transaction.

Each crypto card has its rates and fees. Some cards have no fees, some have few of the fees listed above.

Besides the fees, you should also consider supported cryptocurrencies. Most cards support Bitcoin but some of them support other major cryptocurrencies such as Ethereum, Xrp, Litecoin, or the company’s native coin.

The most important point about deciding on a crypto card is availability. Make sure the crypto card is available in your home country. Different states have different regulations. If you are a United States resident, make sure the crypto card that you are considering applying, is available in your state.

Crypto Debit or Credit card?

There are mainly two types of crypto cards. Crypto debit cards allow you to spend your own cryptocurrencies with an instant conversion between crypto to fiat without noticing any difference when you use the card. You can use your card as you do with traditional debit cards. Merchant will receive fiat currency and an equivalent amount in crypto will be reduced from your crypto balance.

Crypto credit cards have a pre-set limit depending on your crypto assets staked or collateralized. You will be assigned a limit and you will spend from your limit. You have to make payments at the end of the month after you receive your crypto credit card statement. Your crypto holding will stay stable. You can even continue earning rewards if you stake your cryptos.

Security Issues

All crypto cards are as safe as traditional bank debit or credit cards. they are subject to the same security standards as common bank cards. Most card issuers offer great insurance for your crypto holdings. If you hold any dollar, then your balance is protected by FDIC too. You can always freeze or cancel your crypto card immediately.

Crypto cards offer plenty of security features such as mobile codes, biometric scanning, or two-factor authentication. You can use it with a PIN code. You can decide at what security level you want to use your card.

Crypto card users should be aware that fluctuations in crypto prices may directly affect their spending power. A sudden increase in prices can help you pay fewer dollars. But it can also affect reversely and you can end up paying much more than the original price. You can select a crypto debit card with a limit associated with your collateral. You can spend fiat currencies and make payments at the end of the month while your collateral crypto fund is safe.

The safest way to avoid price fluctuations is by choosing a crypto card with a limit of staked coins. You stake your crypto funds and enjoy staking rewards while you can spend fiat currency. But you shouldn’t miss making a payment at the end of the month.

Crypto gift cards

Since blockchain and cryptocurrencies are a hot topic and becoming bigger and bigger. It is very likely to talk about cryptos at family gatherings. There are many companies offering crypto gift cards. If you want your loved ones to own their first crypto, you can buy a crypto gift card and give it. Crypto gift cards work the same as pre-paid gift cards work.