💳 Compare Best Crypto Cards

💳 What is Crypto Debit Card?

A crypto debit card is a cryptocurrency prepaid card that is linked to a cryptocurrency wallet, which is where cryptocurrencies such as Bitcoin and Ethereum are held. To use your crypto prepaid card, you must first connect it to your crypto wallet (if you already have one) or create a wallet through an exchange or cryptocurrency-focused portal.

Crypto debit cards function similarly to standard debit cards in that they may be swiped or dipped for transactions both in person and online. However, rather than taking fiat money such as US dollars from a bank account, your card deducts the amount from a crypto wallet, which instantly converts your purchase into US dollars or other fiat currency.

Crypto debit cards can be virtual or physical – or both – and are often endorsed by Mastercard and Visa, allowing you to use them wherever card payments are accepted. When you use your crypto debit card to make a transaction, funds are instantly withdrawn from your crypto wallet balance, exactly like cash.

🔮 How do Crypto Cards work?

Crypto credit cards are utilized similarly to other credit cards. They can be swiped at physical stores or utilized online to purchase products and services. These transactions are conducted in regular currency, and users receive a monthly statement outlining their purchases during that period. As of June 2022, no major crypto credit cards allow direct payment of bills from a crypto wallet, though some providers have suggested this may be a possibility in the future.

Like traditional credit cards, crypto credit cards also reward users for their purchases, but instead of cash back, they offer their rewards in the form of cryptocurrency. Different crypto credit cards offer varying methods of accruing and paying out rewards, which may influence a user's choice of card based on their preferred reward accumulation style.

Typically, crypto rewards credit cards offer cardholders between 1.5-3% rewards in cryptocurrency for eligible purchases. Some cards increase the reward rate after reaching a certain monthly or yearly spending limit, while others offer higher bonuses for specific spending categories such as dining or grocery shopping. The payout for accrued crypto rewards can vary, with some cards disbursing rewards on a monthly basis and others with each transaction.

📥 How to get Crypto Debit Card?

You can get a crypto prepaid debit card through a currency exchange like AdvCash or a crypto-based platform that specializes in virtual crypto cards like Wirex. Here are the typical steps for getting a crypto prepaid card:

1. Go to the website of the platform you want a card from.
2. Set up an account and undergo a know your customer (KYC) check, which requires your personal information and a government-issued ID.
3. Fund the account with fiat or cryptocurrency by transferring USD from your bank or crypto assets from your cryptocurrency wallet.
4. Apply for a virtual and plastic debit card and link the card to your account.
5. Start spending on the card.

💫 How crypto debit cards differ from traditional debit cards?

Unlike standard debit cards, crypto cards require you to transfer your crypto assets into fiat cash. Some crypto cards will convert your cryptocurrency as soon as you fund — or "top off" — your crypto wallet. Others will convert it when you make a transaction.

The time when your crypto card converts your cryptocurrency into USD is important, as you may be locked into a potentially weaker or stronger exchange rate.

And the way it converts can complicate your tax returns - if it happens in steps, it's simply one taxable event to report on your return, but cards that convert with each swipe or dip need you to declare each transaction.

🔐 Are crypto debit cards safe?

Crypto debit cards are just as secure as regular debit cards. When you apply for a crypto debit card, you must present "know your customer" (KYC) evidence to comply with regulating rules.
To prevent unwanted access, the majority also employ stringent security measures. For example, you will be required to create strong passwords and enable two-factor authentication.

🎯 What are the top factors to compare when choosing crypto cards?

1. Account type. Although most crypto debit cards are linked to crypto wallets, they aren't your sole choice for crypto debit cards. Checking accounts, include a debit card that pays out in Bitcoin rather than conventional cash.
2. Currency conversion. Currency exchange. If you want your cryptocurrency to be promptly converted into USD when you fund your account, you may consider using a card like the Crypto.com Visa card. If you want your cryptocurrency to be converted to USD when making a transaction, use a card like Netcents.
3. Crypto debit card fees. While there are often no costs involved with depositing cryptocurrencies, withdrawing cash is frequently an exception. Check to see if there are any costs associated with withdrawing funds from your wallet.
4. Supporting cryptocurrencies. Not all crypto debit cards support every cryptocurrency. Some may only allow deposits of popular cryptocurrencies like Bitcoin, while others only allow you to deposit stablecoins like USDC or USDT.
5. Rewards. The most typical incentive provided by crypto debit cards is cashback. Cashback incentives vary by service provider, with some even allowing you to deposit earnings directly into an a href="https://aiovel.com/deals">crypto savings account/a>. Some sites also have loyalty tiers that reward you with their own cryptocurrency.

🎖 What are the benefits crypto cards?

1. Crypto debit cards with rewards. Most crypto debit card providers offer rewards like cashback incentives, often paid in cryptocurrencies. Several all-in-one crypto banks pay stronger loyalty rewards the more you use their services.
2. Use your crypto. Crypto debit cards are ideal for those looking to spend cryptocurrencies on real-world goods and services. Using a crypto debit card greatly improves the usability of otherwise restricted digital assets.
3. Rewards. You like to stake in native coins in order to earn extra rewards and perks when using a crypto-backed debit card.Some cards don’t require you to spend cryptocurrency to get cashback, which means you can fund the card in fiat and still earn crypto rewards.
4. Interest rate. You want to earn returns on your deposits before you spend them. Most crypto platforms pay higher yields than you could get at a bank.

✍️ Crypto Cards Overview Summary

As cryptocurrency grows more popular, crypto banking systems are introducing debit cards that enable investors to manage and spend their bitcoins on common products and services, often with cashback and perks. Compare the best cryptocurrency debit cards to get the greatest benefits for your spending habbits and financial objectives.