The 5 Best Crypto Debit Cards

As more and more individuals join the crypto market, the use of crypto cards also increases. Many crypto skeptics believe that it is risky to open such cards for several reasons. Because of them, but also because of you, who want to be informed, we decided to explain some things. In this article, we will introduce you to the concept of crypto cards and our list of the best crypto debit cards according to our experts.

What Is a Crypto Debit Card?

Crypto debit cards allow individuals to use cryptocurrencies to pay for online and in-person products and services. Crypto card holders can use this physical card for transactions or ATM withdrawals. With crypto debit cards, you can spend your cryptocurrencies just like FIAT currencies, such as US dollars, British pounds, or euros. This type of point-of-sale card easily converts the cryptocurrencies you have stored in your debit card account into fiat currency that is accepted by everyone.

But every crypto debit card is different. These cards differ in which cryptocurrencies they support, the fees they charge, and the incentives they offer to users. Some of them are only available to people from certain countries. To make it easier for you to decide on “the right one,” we present you with our list.

How Do Crypto Debit Cards Work?

The Benefits of Crypto Debit Cards

Since most companies do not (yet) accept cryptocurrency payments, a crypto debit card will indirectly help you pay for goods and services in cryptocurrencies. Here are the main advantages of using a crypto debit card:

• Conversion: You can easily access digital and fiat currencies with most crypto debit cards. You don’t have to change cards to pay in different local currencies. This is a big advantage if you are a world traveler who doesn’t want to change currency every time you have to pay something.

• Lower fees: Crypto debit cards remove some unpleasant fees associated with bank debit cards. Most promise zero exchange fees, zero transaction fees, and zero monthly maintenance fees. Other crypto cards, eg waive the monthly fee if you maintain a certain account balance.

• Security: Most crypto debit cards include advanced security measures to protect digital assets and transactions. They typically have two-factor authentication, 256-bit encryption, and 24-hour fraud monitoring. If you detect an unrecognized transaction, you can temporarily freeze or unfreeze your debit card.

• Rewards: Traditional debit cards don’t offer cash back, but credit cards typically offer 1% to 3% cash back on purchases. Some crypto debit cards will give you rewards in cryptocurrency, which can be a great way to add to your portfolio passively. For example, if you earn 3% cryptocurrency back and the price of the digital asset you receive as a reward doubles, you have essentially earned 6% cryptocurrency back on your spending. Of course, this works both ways. If the value of the cryptocurrency you receive decreases, so does your actual reward.

Disadvantages of Crypto Debit Cards

• High Volatility of Cryptocurrencies: Cryptocurrencies are highly volatile assets, so a crypto value can fluctuate a lot.

• Geo-locational restrictions: Not all crypto debit cards are available in all areas, so it’s a good idea to check before traveling if you’ll be able to use a crypto card.

The Top 5 Crypto Debit Cards in Europe

As a crypto investor and holder, you want to make using and accessing your digital assets as easy as possible. Fortunately, as a European resident, you have many options for a crypto debit card:

1. Nexo Card

Nexo is a famous crypto platform that has been around for many years. It offers its services to both individuals and institutions. One such service is the Nexo Card, which allows you to spend without selling your cryptocurrencies. The card works using your cryptocurrency as collateral, and you can use it at millions of merchants worldwide. With every purchase or payment, the user earns.

Advantages of the Nexo card:

• Earning possibility of 2% in Nex or 0.5% in BTC
• Interest rates on credit lines of 0% per annum
• Integration with Apple and Google Pay
• There is no minimum monthly payment

Nexo also has many other features for individuals, so in combination with the Nexo card they can prove attractive. It’s a service with a long-standing reputation, which is why we put Nexo at the top of our list.

2. Coinbase Visa Card

Coinbase was founded in 2012 and is one of the most famous crypto exchanges. The Coinbase card allows holders to spend cryptocurrencies anywhere Visa debit cards are accepted. It’s a great option if you’re looking for a crypto debit card in Europe, as it supports multiple currencies and allows easy currency conversion. It also offers the highest level of security.

Advantages of the Coinbase Visa card:

• You can use it anywhere Visa is accepted
• You can use multiple crypto wallets for payments
• Many safety features

To start using a Coinbase card, you must have a Coinbase account. You don’t need any fiat currency to pay with the card because the card automatically converts your favorite cryptocurrency into a Coinbase wallet.

The Coinbase Card offers many security and convenience features, including a mobile wallet, two-step verification, instant card freeze, spending tracking, and more. Cardholders can purchase in stores and online and withdraw cash at any Visa ATM worldwide.

Residents of Europe and the United Kingdom must pay a €4.95 issuance fee for a Coinbase card. Additionally, Coinbase charges several fees, including a 2.49% liquidation fee.

3. Crypto.com Card

Crypto.com supports the purchase and use of more than 100 cryptocurrencies. Users can earn up to 8% on purchases made with a Crypto.com Visa Debit Card. In addition to cryptocurrencies, you can load the card with fiat currencies. The company accepts more than 20 fiat currencies. You can pay with the card in all stores that accept Visa cards. It allows you to top up with cryptocurrencies and spend in US dollars like any other payment method.

The amount of crypto tokens purchased and deposited determines the level of your card. Users must complete KYC verification.

Advantages of the Crypto.com card:

• More than 80 cryptocurrencies supported
• There are no monthly fees or issuance fees
• Discounts on streaming services
• You can withdraw up to 1,000 euros at the ATM for free (depending on the type of card)
• There are no monthly or annual fees
• Cardholders get cashback rewards in CRO (Crypto.com native exchange token)

A well-known exchange has many advantages but also charges higher fees. Although there are no fees to obtain the card, there are high requirements to obtain the card. Unlike most debit cards, you can also earn rewards with the Crypto.com Rewards Card, but you must deposit (invest and hold) at least $400 worth of CRO tokens for at least six months to qualify.

The requirements increase when you want to upgrade to a card and take advantage of higher cash rewards. For example, if you want to order an Obsidian card and enjoy 8% cashback and a monthly free withdrawal of up to 1,000 EUR.

4. Binance Card

The Binance exchange was founded in 2017 and has become the world’s largest cryptocurrency exchange. As of 2020, Binance partnered with Swipe to offer a Visa debit card with 8% cash back. If you want to use a crypto debit card in Europe, the Binance Visa card works like any other option. There are no monthly fees or issuance costs. It stores the cryptocurrency in your wallet and converts only the one you need when you buy it. You can use the card to make purchases in stores or online wherever Visa is accepted.

Advantages of the Binance card:

• Cashback up to 8%
• There are no monthly fees or issuance fees
• Converts cryptocurrencies on your request

From 0.9% is charged for transactions and ATM withdrawals. ATM operators may charge an additional fee. The card supports many cryptocurrencies, including Bitcoin and Ethereum.

With the Binance Card, you’ll get cash back for every purchase you make with the card. However, the refund level depends on the Binance Coin (BNB) balance in your Binance wallet.

5. Wirex

Wirex is a fintech platform that offers physical debit cards. Wirex’s crypto debit card can be linked to a crypto exchange. The company was founded in 2016 in London. Wirex’s crypto debit cards are a great option for paying with crypto or fiat currencies at any merchant that accepts debit card payments.

Advantages of the Wirex card:

• Cashback up to 8%
• When converting, you can choose between 37 different cryptocurrencies
• Fast and secure transactions

Wirex’s main goal is to provide fast and secure ways to transact, all through one innovative application. It offers an attractive alternative to traditional banking, combining up to 8% cashback on purchases. There are no annual fees, and ATM fees are covered up to $250 per month. It also offers instant top-up for a relatively seamless experience.

How To Choose a Perfect Debit Card?

If you’ve ever researched efficient ways to convert cryptocurrencies into fiat currencies for everyday payments, you know how much the market has changed in the past few years. If you believe that this asset class will become increasingly important in everyday use, and you have a large amount of cryptocurrencies, then a crypto debit card can be a great choice.

This can be a convenient way to spend cryptocurrencies. In addition, if you use cryptocurrencies a lot, you will be convinced by the 8% cashback, which is a really low percentage, especially if you make most of your purchases with a card. In this case, you will need to research all the different reward levels for each card. It’s also worth noting that each card may have different transaction fees.

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