Best Crypto Debit Cards

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Contributor, Benzinga
Updated: June 10, 2022

Looking for the best crypto debit cards? We like the Voyager and the Nexo cards, but you can see even more choices below.

Spending your Bitcoin or Ethereum is quite a novelty in the real world — few stores and websites accept digital currencies at the moment, and for good reason. Retailers are scared about exchange rates, find blockchain technology too difficult to understand or think cryptocurrencies are highly volatile assets. Thankfully, new products are popping up to solve all these problems — crypto debit cards.

A crypto debit card lets you spend your digital assets at locations where debit cards are accepted. Every time you use the crypto card, money is deducted from your wallet balance and converted into the merchant’s currency. Benzinga has scoured the crypto market to bring you its top crypto debit card picks.

Quick Look at the Best Crypto Debit Cards:

Best Brokerage Card: Voyager Crypto Mastercard

Leading cryptocurrency Voyager has recently announced it's rolling out a debit card with USDC-back rewards. Since USDC is a stablecoin pegged to the price of the U.S dollar, rewards with Voyager's debit card are relatively stable. Plus, you're able to easily swap your rewards for a cryptocurrency of your choosing via Voyager's easy to use interface. Since Voyager has partnered with Mastercard, the debit card will be accepted everywhere that Mastercard is accepted.

  • Voyager
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    *Other fees may apply.

Best for Security: Nexo Debit Card

The Nexo debit card secures your digital assets with military-grade 256-bit encryption that also incorporates 24/7 fraud monitoring mechanisms to ensure the safety of your funds and transactions. You can order and manage your Nexo card at the comfort of the Nexo Wallet app, which gives you worldwide access to your credit line.

Use the Nexo app to create free virtual cards for safe online purchases, monitor your transactions in real-time, freeze and unfreeze your debit card and receive notifications about all your transactions.

  • Nexo
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Best for Direct Spending: Coinbase Debit Card

The Coinbase Visa debit card lets you spend directly from your Coinbase account without having to move your funds to other bank accounts. Your cryptocurrency is converted to U.S. dollars before completing ATM withdrawals and purchases. The Coinbase card also lets you earn rewards through daily spending — you can earn 1% back in BTC or 4% back in Stellar Lumens (XLM).

Manage all your spending and rewards preferences directly through the Coinbase app.

  • Coinbase Debit Card
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Best for Spending Rewards: Crypto.com VISA Card

As one of the most popular debit cards on this list, the Crypto.com VISA card offers many great benefits to its users. Arguably the biggest benefit of the Crypto.com card is its reward system. Users can earn up to 8% cash back paid in crypto, as well as rebates on Netlix, Spotify and Amazon Prime subscriptions. What's more, you can get exclusive airport lounge access with the higher tiered debit card options.

It's important to note that to receive the best rewards, you'll need to stake Crypto.com's native cryptocurrency, CRO token. While there's a free option, you won't receive as much cash back or get rebates on certain products. Luckily, there's a range of tiers for the Crypto.com debit card, so you can choose the card that fits your needs best.

  • Crypto.com Credit Card
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Best for Converting Crypto: Wirex Debit Card

With the Wirex Debit Card, users can hold crypto in their account and only sell it at the point in time where they spend using the debit card. This is a great benefit for investors looking to hold onto their crypto for as long as possible. This way, you'll be able to keep as much exposure to the digital asset markets as possible –– there's no need to sell your crypto in advance of making purchases with your debit card.

The Wirex Debit Card also provides users with huge crypto-back rewards. By using the Wirex Card, you'll be able to make up to 8% crypto-back on your purchases which will passively accumulate in your cryptocurrency portfolio.

  • Wirex
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Best for Zero Crypto Transaction Fees: BlockCard Visa Debit Card

BlockCard stays true to its word with zero crypto transaction fees. Whether you’re transferring crypto, exchanging to fiat currency or making a deposit, you won’t pay a dime. Deposit Bitcoin and over 12 other supported cryptocurrencies into your BlockCard account and use them anywhere that accepts Samsung Pay, Google Pay or Apple Pay.

BlockCard lets you start spending your crypto assets in 4 steps:

  1. Register for a BlockCard account.
  2. Fund your account.
  3. Initiate and pass the credential check.
  4. Receive your virtual BlockCard.

Best for Virtual Visa Card: TenX Debit Card

TenX will provide a virtual Visa card as soon as your application is approved. Use the virtual card to spend online anywhere Visa is accepted and activate full security controls through the app. For a seamless card experience, TenX gives you the freedom to spend cryptos like Bitcoin, and Litecoin with the tap of a card. Cryptos are converted to fiat in a smooth and instant payment.

Its 24/7 card security is also guaranteed through real-time notifications when your card is used, options to lock and unlock your card and 2-factor authentication for added security.

Best for Ethereum: Monolith Visa Debit Card

The Monolith Visa is a crypto debit card focusing on the Ethereum ecosystem with all the crypto tokens supported being part of the Ethereum ecosystem. The debit card also boasts its proprietary token called TKN, which you can use to waive some of the fees users are charged when using the debit card. You can also exchange your Ethereum-based tokens to fiat and load them onto your Monolith debit card.

Download the Monolith app to get instant updates as you spend as well as view all your transactions. Monolith lets you protect your crypto assets from theft through daily spend limits. Although anyone can download the Monolith app and use the Ethereum wallet, the debit card is only available in Europe. If you're located in the U.S, stay tuned for updates regarding the debit card's release in the states.

Benefits of Crypto Debit Cards

Switch Between Currencies

Most crypto debit cards let you access both digital currencies and fiat currencies with ease. You don’t have to switch between cards to make payments in different local currencies. This is a great draw if you’re a globe-trotter who doesn’t want to exchange currency each time you need to pay for something.

Cut the Card Costs

Crypto debit cards eliminate some of the unpleasant fees associated with bank-issued debit cards. Most promise zero foreign exchange fees, zero transaction fees and zero monthly maintenance fees. Other crypto cards will waive the monthly fee if you maintain a specific account balance.

Security

Most crypto debit cards incorporate advanced security measures to protect your digital assets and transactions. Most cards have 2-factor authentication, 256-bit encryption and round-the-clock fraud monitoring. Temporarily freeze or unfreeze your debit card if you detect an unrecognized transaction.

Crypto Rewards

Traditional debit cards don't offer cash back, and credit cards typically offer between 1% to 3% cash back on your spending. Some crypto debit cards will give you rewards in cryptocurrency, which may be a great way to passively add to your portfolio. If you earn 3% crypto back, for example, and the digital asset you get as rewards doubles in price, then you've essentially earned 6% crypto-back on your spending! Of course, this works both ways. If the crypto you receive goes down in value, so do your effective rewards.

What is a Crypto Debit Card?

Similar to conventional cards, crypto debit cards let you fulfill day-to-day transactions using Bitcoin, Ethereum and other altcoins. You shouldn’t have reservations about your plastic card being accepted by merchants since most of these debit cards are backed by Mastercard and Visa.

How do Crypto Debit Cards Work?

Crypto debit cards differ from conventional cards in the way you spend your digital assets. First, you must top up your crypto debit card with a digital currency of your choice, often from the card provider’s wallet. Most providers will let you fund your card via their website or mobile app.

Once your card is loaded, you’re ready to hit the spending spree — whether in-store or online. Most crypto debit cards will reward you with zero transaction fees and generous spending limits per day. You can expect to use your debit card at points of sale that accept Visa or MasterCard.

Rather than buying a product or service in crypto, your card provider converts your digital currency into fiat currency that you’ll use to complete the transaction. Some crypto debit card providers will issue 2 card types: a virtual card for online purchases and a physical card for in-store purchases.

Crypto Debit Rewards

Sure, crypto debit card rewards are available but they are quite different from what you’d expect from conventional prepaid debit cards. Most crypto debit cards promise to offer a cash-back percentage for every purchase you make. The amount you’ll receive depends on the card provider, and you can expect it to be in the form of a cryptocurrency.

Depending on your needs, you can redeem, spend or send the rewards into an interest-bearing account.

Crypto Debit Variables

Crypto debit cards aren’t with their drawbacks. Some providers may require that you stake cryptocurrency to unlock some of the card’s best rewards. The spending limits placed on some debit cards mean that you can’t spend big with your debit card.

And then there are concerns of Bitcoin’s volatility, which often drags other cryptos behind. For instance, the BTC you use to make a $100 Airbnb booking today may end up being twice as much a few months down the line. It could also crash and you’ll consider your booking a bargain.

There’s a Future in Crypto Debit Cards

Some of the world’s largest crypto exchanges, including Coinbase and Binance, now own Visa debit cards. Topping up your account is fairly easy since you’ll probably do it from your crypto wallet. Then you’ll have a fully functioning debit card that lets you convert your digital assets into fiat currency to pay for goods and services or withdraw funds.

But with hundreds of brands offering crypto debit cards, it’s important that you perform some due diligence, including understanding the regulations within each brand’s jurisdiction.

Frequently Asked Questions

Q
Where can I use a crypto debit card?
A

You can use a crypto debit card at merchant outlets that support Visa or MasterCard debit cards. Pay for goods and services, exchange currencies and withdraw from ATMs with ease.

Q
Are crypto debit cards safe to use?
A

Certainly, yes. Crypto debit cards uphold some of the highest security standards. For starters, you’ll need to complete several know your customer (KYC) checks when applying for a crypto debit card. What follows is a raft of security measures including PIN login, 2-factor authentication, 256-bit encryption and fraud monitoring. Your digital assets are safe in a crypto debit card. 

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