A cryptocurrency debit card is a digital payment tool just like a regular credit or debit card. It allows you to shop online and make payments to services like Uber and Apple Pay. There are many cryptocurrency debit cards out there, but we’ll go over which ones are the best right now.
The ideal cryptocurrency debit card
The ideal cryptocurrency debit card offers a new level of convenience to its holder. It allows you to spend or earn your cryptocurrencies in physical or online stores, even if the merchants do not accept cryptocurrencies. Instead of exchanging Bitcoins for local currencies, cardholders preload their debit card with a set amount of cryptocurrency, which is then automatically converted at the time of purchase to the country’s fiat currency.
Plus, you can make purchases with cash back rewards and even pay taxes. The best thing about this is the ability to trade through secure mobile access. At the same time, the cryptocurrency debit card must support different types of cryptos.
Top 7 Cryptocurrency Debit Cards
We show you the top crypto debit cards and help you find which one is best for you.
Coinbase debit card
The Coinbase Card is available in the UK and to select customers in the US. Upon registration, the Visa debit card is linked to the Coinbase account. With a Coinbase account, users can store various forms of cryptocurrencies, including Bitcoin, Ethereum, Stellar Lumens, Litecoin, Dogecoin, and more.
There are no annual fees, however an issuance fee is charged to UK residents. Users earn up to 4% cash back when purchasing through the crypto rewards program. However, these rewards are earned when purchases are made using Bitcoin or Stellar Lumens.
Two-factor authentication combined with instant card freezing ensures coins are safe. The mobile wallet allows cardholders to purchase and withdraw cash from any Visa ATM around the world. Holders of these cards can only withdraw a maximum of one thousand dollars per day.
Binance debit card
Binance Card is available in European countries, including Spain. Currently, it supports its stablecoin, Binance USD, Bitcoin, Binance Coin, Ethereum, and the SXP token. Binance Debit Card does not charge administrative, processing or annual fees. However, on occasion one may be subject to third party payments.
The Binance Card is used anywhere Visa cards are accepted, including ATMs and self-account withdrawals. It offers seven cashback levels (based on monthly BNB balance) and the maximum cashback amount is 8%. Users can check all cash back transactions in the cash back vault on mobile app or PC. The rewards earned depend on the user’s Binance (BNB) account balance.
However, not all transactions are eligible for the refund program. For example, they specify that the cash back program does not consider transactions made in digital wallets, cryptocurrency exchanges, digital banking services, money remittance services, stored value goods and other specific categories.
Bitpay cryptocurrency prepaid card
Like other cryptocurrency debit cards mentioned above, BitPay Mastercard allows users to spend their coins in the real world. It is currently accepted at millions of points of sale around the world. The card issuance fee is $10.
To use the card, one must have a BitPay wallet. The wallet supports multiple cryptocurrencies including Bitcoin, Bitcoin Cash, and Ethereum. Cardholders can conveniently convert their cryptocurrencies to the fiat currency of the country of their choice at ATMs. The conversion is free, although network fees may apply.
Upon conversion, the funds are available to spend based on the transaction and amount loaded. Users are allowed a maximum ATM withdrawal of $6000 per day. Only one maximum one-time upload of $10K per day is allowed. As for spending, you can only spend up to $10K per day.
However, BitPay Mastercard does not have cash back rewards, which lowers the net spending cost. That is a significant disadvantage compared to other crypto debit cards on the market. Additionally, the card attracts a hefty $5 per month inactivity fee.
Embily Visa Debit Card
The Embily Visa Card is used at all stores that accept Visa. It supports nine cryptocurrencies, including Bitcoin, Ethereum, and Stablecoins.
It has a monthly service fee of 2 euros, a loading fee of 1% and a 1.50% charge for foreign transactions. The cards can be both in physical and digital versions. The virtual card costs 1 euro, while a virtual card costs 5 euros, including worldwide shipping. Users can manage up to 5 cards by connecting them to Apple Pay or GooglePay.
Supports transactions worldwide. Although it lacks a cashback feature, users can earn coins for referrals. A referral gets a $10 discount on a physical card and a $5 discount on virtual cards. On the other hand, the sender gets an equal amount plus 0.10% of their loaded amount.
BlockFi Rewards Visa Signature Card
The BlockFi Visa card is pretty well known when it comes to rewards. Users earn up to 1.5% rewards on all purchases made with it. Supports monthly conversions of Bitcoin, Ethereum, Litecoins and many more, depending on what users choose in their BlockFi account. In essence, the card is a monthly cashback card that users use to purchase coins.
Users enjoy 1.5% cashback on cryptocurrency purchases and 0.25% cashback on all eligible transactions. The deal is sweetened with the ability to earn 2% back after spending at least $30K. Additionally, users get a bonus of 0.25% of their BlockFi coins, available to users with a $500 load.
Visa Crypto Card
The Crypto.com Visa Card provides convenience along with other benefits for the user. The card does not charge annual fees. It is a Visa debit card and is therefore acceptable for use at all merchants that accept Visa cards.
It supports multiple cryptocurrencies which makes it a good option for all investors. The platform converts crypto currencies into fiat currency in real time before loading them onto the Visa card, protecting users from fluctuating market values. Although it supports multiple currencies, cardholders earn cash back in the form of Cronos Rewards (CRO). But this can be exchanged for another cryptocurrency through its platform.
It comprises different card levels depending on one’s bet. Having the highest (Obsidian) unlocks more benefits than the lowest (Midnight Blue). With a Midnight blue card, the acceptable ATM withdrawal limit is $500, while with an Obsidian, the limit is $2,000. Obsidian earns 5% CRO rewards and 2% on card spend. The Midnight Blue, on the other hand, doesn’t give cash back.
Nexo Mastercard
The Nexo card is essential for all Nexo users. It allows its users to access cryptocurrency-based liquidity in 40 million stores worldwide. For now, the card is only available in selected European countries. Unlike other cards, Nexo allows users to spend without the need to exchange their cryptocurrencies. The user’s digital assets serve as collateral.
It has no commissions. There are no monthly fees or inactivity fees. Users enjoy instant cash back rewards of 2% for Nexo and 0.5% for Bitcoin when transacting with the card. In addition to keeping their digital assets, users earn without spending. However, rewards are paid in Bitcoin or Nexo token (NEXO).
Nexo cryptocurrency debit cards are available in physical and digital form. Users can link cards to their favorite mobile wallets from the Nexo Wallet app. Apple Pay and GooglePay are also integrated into the card. Users can control the card through the Nexo app, which enhances features such as instant card freezing and notifications on all expenses.
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