Crypto Debit Cards

Crypto Debit Cards

The approval for mainstream in the cryptocurrency space remains a central theme, and crypto debit cards have been adopted as a great way to bridge the gap between traditional finance and digital currencies. These cards have introduced significant improvements in transaction speed, privacy, cost, and convenience.

These cards have eased the combination of cryptocurrency and fiat currency where cardholders can make transactions and payments at restaurants, cinemas, retail outlets, and a bunch of other places. When spending cryptos, you often don’t require much of the specialized knowledge that comes with obtaining and storing digital assets since these cards make it more straightforward.

Characteristics for the Best Crypto Debit Card

Before deciding on a crypto card to use, several factors should be taken into consideration, and these include:

Ease of Use

Crypto cards should be easy to use, but fees, spending limits and funding options can confuse the whole experience. More, since these cards are often attached to online exchange accounts, eased access to your account or getting in contact with a member of the support team will significantly influence your overall experience.

Features

The core function of all crypto debit cards is to facilitate online/offline spending and allowing cardholders to make ATM withdrawals. Besides, having more features like banking services, payment/remittance services, and altcoin support could also come in handy.

Jurisdiction

Unlike the past, the crypto industry is now being regulated; hence making each debit card solution only available in certain areas. Cardholders should make sure their region is supported by a debit card provider that aims to stay up to date with any changes in legislation and also remains regulatory compliant.

Reliability

The crypto space is still young, only a decade old, and trying to choose the most established and respected service providers makes a lot of sense. Crypto debit cards supported by fully transparent projects, and integrated with the traditional and modern (Visa and MasterCard) banking systems to stand the best chance of surviving in the long run without suddenly halting their services.

Fees

The crypto market is quite volatile, but cardholders are still motivated to get the best price rates so that an overly restrictive fee structure shouldn’t hinder spending on a card. Having a crypto debit card that maintains a transparent and straightforward fees structure will save you more.

Top Crypto Debit Cards

Nexo

Nexo tops our list. It is a platform that allows you to loan from it using your crypto as collateral. You deposit cryptocurrency to their platform, and they send you cash. Nexo doesn’t sell your crypto; instead, they hold it for you while you pay back the loan.

It will benefit you for some reasons like you never lose access to your cryptocurrencies, and you get them back once the loan is paid off. Nexo is easy to use, and you can begin the depositing process after signing up, which takes just a couple of minutes.

Nexo has an incredible feature called the free Nexo Mastercard for people who are not looking to spend using their card, allowing you to access your money worldwide with no monthly fees and no foreign exchange fees.

Wirex

Wirex is another popular option based in London which provides a cryptocurrency- oriented range of personal and business solutions. It also has offices in Ukraine, Japan, and Tokyo.

Wirex is among the most established in the crypto space with close to 3 million users and a transaction volume of $2.0 billion. It features a contactless multi-currency Visa Card which enables you to connect your debit and credit cards, store crypto and purchase Bitcoin and selected altcoins with high limits and competitive exchange rates.

The platform allows you to make low fee direct money transfers as well as the exchange between crypto and Fiat currency using transparent live prices and exchange rates.

Additionally, it features a Cryptoback Reward Program which allows you to earn crypto each time you use the Visa debit card. Getting back 0.5% of your spending whenever you make payments or purchases sounds like a good offer.

Revolut

Revolut is a well-known firm that has set about disrupting the finance industry through its mobile banking app. Revolut operates in the EEA, Switzerland and Australia and the UK based company not only provides mobile banking services but also allows its customers to purchase cryptocurrencies.

Once you have signed up in Revolut for one of the paid monthly subscription plans, you instantly get access to the digital assets integrated into the platform and purchase Bitcoin as well as other altcoins.

However, Revolut will not suit everyone since you do not have your private keys, and are not able to transfer your crypto holdings outside of the Revolut system because it effectively retains custody of your digital assets. Many crypto advocates have considered it not a “true” method of purchasing Bitcoin. Nevertheless, the mobile bank has a few features that make it a solid choice, including free unlimited FX volumes, free overseas medical insurance, free virtual cards, and delayed flight and delayed baggage insurance.

BitPay

BitPay is a US-based cryptocurrency payments provider established since 2011 and has onboarded over 10,000 merchants. It offers its US residents a BitPay’s Bitcoin debit card that is loaded with funds through a BitPay account. Since BitPay is only available to US residents, users are required to give their home address (no PPO boxes), government-issued ID and their Social Security number.

BitPay is well suited for anyone looking for a reliable, straightforward Bitcoin payment solution since their cards are widely accepted around the world, and it doesn’t incorporate discounts or any special incentives to use the card.

SpectroCoin Prepaid Card

SpectroCoin is a platform based in Lithuania that enables its users to purchase a range of cryptocurrencies and store/transfer them through its mobile wallet. SpectroCoin provides debit cards that use EUR or USD and allows the exchange of Bitcoin and other digital assets to spend in it.

SpectroCoin Prepaid Card Program is primarily focused at crypto users in Europe who must pass KYC verification, and cardholders must provide a passport or ID and a utility bill to make use of a VIP card that comes with an unlimited maximum card balance. Also, it allows unlimited POS/ online transactions.

Final Takeaways

With the above examples, there are a lot of options to choose from if you are looking for an available crypto debit card to use like; US citizens should choose BitPay, and Europe citizens should go with Wirex. All in all, the best crypto debit card option is based on each person’s requirements make sure you do proper research to find the debit card service, which best suits you.