Key Takeaways
- Crypto debit cards bridge the gap between crypto and traditional finance by allowing you to spend your digital assets like regular money.
- When you make a purchase, the card instantly converts your chosen cryptocurrency into fiat currency (USD or EUR) to complete the transaction.
- Some even offer various benefits, such as cashback rewards, staking rewards, and exclusive perks.
- Research and compare different crypto cards to find the best fit for your needs.
Spending Bitcoin, Ethereum, and other cryptocurrencies can be quite frustrating in the real world. Like, why can’t I pay for a cappuccino with my crypto? It is sad but true that few shops and websites currently accept digital currencies. Retailers might be worried about exchange rates, find the technology too difficult to understand, or think the demand for Bitcoin transactions is low.
Thankfully, we are now seeing new products and services that solve all these problems, giving thirsty crypto enthusiasts some caffeination and helping businesses offer digital assets as a payment method.
In this article, let’s discuss crypto debit cards in more detail.
What Is A Crypto Debit Card?
A crypto debit card is like any other card you can use at a PoS or an ATM. The main difference in this situation is that you draw funds from your cryptocurrency wallet rather than from a credit line extended to you.
The main benefit of crypto credit cards is the convenience, as they allow anyone to spend their cryptocurrency as they would in the case of typical fiat currency. Another advantage of crypto debit cards is that you do not need to worry about exchange rates.
These cards could change how people spend virtual and digital currencies. Let’s explore the top eight crypto debit cards below:
Crypto.com
Crypto.com offers five different tiered metal debit cards that allow cardholders to spend 90+ cryptocurrencies and 20+ fiat currencies anywhere a Visa card is accepted.
To receive a Crypto.com debit card, a user must stake a specific amount of the company’s native CRO token, which used to be called Monaco (MCO). The amount or unit to stake starts from $0 to $400,000.
The five tiers offer different perks, like rebates for certain services like Netflix or Spotify. The more CRO you stake, the higher the tiered card you can have and the more rewards and perks you will receive.
For example, one of the most popular Crypto.com cards is the Frosted Rose Gold / Icy White tier. For this tier, you must stake $40,000 worth of CRO, and you will receive 3% cashback in CRO. You will also be given rebates for both Netflix and Spotify, and you are also entitled to airport lounge access and zero-fee ATM withdrawals of up to $10,000 monthly. You will also be allowed to receive a higher APY when staking other coins or tokens on their platform.
Coinbase
Coinbase is one of the most popular US-based crypto exchanges in the world. Coinbase card holders can spend their crypto anywhere Visa is accepted.
Unlike other crypto debit cards, the Coinbase card does not have a minimum staking requirement. As for the rewards, users can receive either 4% cashback in selected cryptocurrencies or 1% cashback in Bitcoin (BTC).
Users can also opt to spend their stablecoins, such as USDC, for which they will not be charged any fees or other specific cryptocurrencies with a click of a button.
Nexo
The Nexo card is issued on the Mastercard network and is a favored option among Europeans. This card offers 2% cashback and rewards users with high-interest yields for holding certain cryptocurrencies in their accounts, with yields as high as 12%-14%.
It is also worth mentioning that there are no minimum deposits required, and no fee is implemented for any withdrawals.
Wirex
Wirex markets itself as a “Web3 money app”, so it is no surprise that it offers a variety of crypto-related products and services.
Currently, Wirex provides services via their mobile and web app, such as exchanges for over 50 fiat and cryptocurrencies, as well as various saving, lending, borrowing, and reward programs like their CryptobackTM, up to 8% with every card purchase.
BitPay
The BitPay debit card is a prepaid Mastercard that bridges the gap between crypto and everyday spending. It allows users to instantly convert their crypto holdings into usable currency without the usual hassle of transferring them to exchanges and then to their bank accounts.
Notably, the card is accepted worldwide wherever Mastercard is supported. Moreover, users can instantly buy gift cards from various retailers through the BitPay app.
They have also added Apple Pay support, which is a huge deal for usability as some newer businesses and payment processors would not accept payment unless they were NFC or Apple Pay compatible.
Gemini
The Gemini Credit Card provides tiered rewards based on spending categories, such as 4% cash back on gas and EV charging (up to $200 per month in the first year), 3% back on dining, 2% back on groceries, and 1% back on all other purchases. These rewards are deposited in real-time, making it an attractive option for those who want to accumulate cryptocurrency passively. The Gemini Credit Card also comes with Mastercard benefits and has no annual fee.
To apply for the Gemini Credit Card, you must first create a Gemini account and go through the verification process. Once you have been verified, you can apply for the card through your Gemini account.
RedotPay
RedotPay is a Hong Kong-based payment solutions provider that offers a free virtual debit card.
As a virtual card, carrying a physical card is unnecessary, making it safer and more accessible. It is also accepted by over 44 million merchants worldwide, providing a wide range of shopping options.
The card also supports popular cryptocurrencies like Bitcoin, Ethereum, USDC, and USDT, allowing users to convert their digital assets into spendable funds easily.
For added security, RedotPay is backed by a licensed trust company with substantial insurance coverage. The card is also user-friendly, with a simple application process and intuitive interface.
Gnosis Pay
The Gnosis Pay card allows you to make purchases at Visa-supported merchants using your crypto assets.
This card connects to your non-custodial wallet, enabling direct access to your funds. At the time of this writing, it currently supports spending through Monerium’s EURe, a stablecoin pegged to the Euro.
However, Gnosis plans to expand its utility and asset choices by integrating other assets like MakerDAO’s stablecoin, DAI. Currently, only European users can apply for the card, which costs EUR 30, but plans are underway to expand to the US and other countries soon.
THORWallet
The THORWallet Visa card comes bundled with a free Swiss bank account. These cards are only available virtually and support Google Pay and Apple Pay.
USDC can be topped up in the associated bank account through the THORWallet mobile app, a non-custodial wallet integrated into THORChain’s (RUNE) ecosystem.
The THORWallet Visa card can be requested by residents of 30 countries, although countries like the US and the UK are not among them.
It also offers three card tiers depending on the number of THORWallet DEX (TGT) tokens staked. The ‘monthly cashback pool’ feature accumulates rewards from the total spending volume of the ThorWallet Visa card community and redistributes them to users depending on the card tier.
Final Thoughts
And that is a wrap for our list of some of the top crypto debit cards on the market right now. Users can enjoy risk-free accumulation with crypto rewards with a crypto debit card. This way, they also gain exposure to crypto and hedge against fiat inflation without worrying about incurring any losses.
Furthermore, several crypto debit cards provide different crypto rewards, so make sure to do your extensive research to find the perfect card that fits your everyday needs!
