Top crypto cards

‍What is a crypto card?

A crypto card is a payment card that allows you to spend your cryptocurrency like you would any other currency, without having to convert it to cash first. They come in two main types:

1. Crypto debit cards: These work like traditional debit cards. You load them with cryptocurrency from your crypto wallet, and when you make a purchase, the equivalent amount of fiat currency (like USD or EUR) is deducted from your balance and paid to the merchant. Popular examples include the Coinbase Card and the Binance Visa Card.

2. Crypto credit cards: These function similarly to traditional credit cards, but instead of using a credit line from a bank, they use a credit line based on the value of your cryptocurrency holdings. This means you don't have to sell your crypto to use the card, but you'll still need to pay back the borrowed amount over time, often with interest. Crypto.com Visa Card is a well-known example of this type.

Here are some key points to remember about crypto cards:

• Acceptance: Not all merchants accept crypto cards, but their acceptance is growing. Many cards operate on Visa or Mastercard networks, so they can be used wherever these networks are accepted.
• Fees: Crypto cards often have fees associated with them, such as transaction fees, annual fees, and ATM withdrawal fees. Be sure to compare fees before choosing a card.
• Security: Like any financial product, using a crypto card involves inherent risks. Make sure you understand the security measures in place before using one.

Benefits of a crypto card:

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Crypto cards offer several potential benefits, but it's important to weigh them against the risks and fees involved before deciding if they're right for you. Here are some key advantages:

Increased Crypto Utility:

• Spend Crypto Easily: Use your crypto directly for everyday purchases without selling it first, potentially avoiding capital gains taxes in some jurisdictions.
• Wider Merchant Acceptance: Many cards operate on Visa/Mastercard networks, expanding your spending options beyond crypto-specific merchants.
• Subscription Rebates: Some cards offer cashback or discounts on specific platforms like Netflix or Spotify.

Rewards and Earning Potential:

• Crypto Back Rewards: Earn rewards in the form of cryptocurrency like Bitcoin or Ethereum with each purchase.
• Staking Benefits: Certain cards offer higher rewards or benefits when you stake their native token, encouraging long-term crypto holding.
• Interest on Crypto Balances: Some cards let you earn interest on your crypto holdings while it sits on the card.

Convenience and Control:

• Manage Crypto and Spending in One Place: Combine your crypto holdings and spending activity in a single app or platform.
• Faster Transactions: Crypto transactions on the blockchain can be faster than traditional bank transfers, offering quicker settlement.
• Global Accessibility: Use your card for international purchases with potentially lower foreign transaction fees than regular cards.

Best crypto cards in 2024:

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Organization

Card name(s)

Rewards

Fees

Other features

Crypto.com

Visa debit cards in various tiers (Midnight Blue, Ruby Steel, Royal Indigo/Jade Green,Icy White/Rose Gold, Obsidian)

CRO cashback on purchases (up to 8%), airport lounge access, Netflix and Spotify rebates (higher tiers)

Annual fees (waived for higher tiers with staking requirements), ATM fees

Metal cards, high spending limits, insurance benefits (higher tiers)

Nexo

Nexo Card

Up to 2% cashback in Bitcoin or native token NEXO

No annual fees, foreign transaction fees

Virtual card only, instant spending from crypto holdings

Binance

Binance Visa Card

Up to 8% cashback in BNB

Annual fee ($20), ATM fees

Multiple tiers with spending requirements for higher cashback, virtual and physical cards available

ByBit

ByBit Visa Card

Up to 6% cashback in BIT tokens

Annual fee ($25), ATM fees

Virtual and physical cards available, rewards based on spending tiers

eToro

eToro Money debit card

Up to 1% cashback in Bitcoin

Monthly fee (€/£), ATM fees

Virtual and physical cards available, cashback capped at €100 per month

YouHodler

YouHodler Debit Card

Up to 5% cashback in crypto

Annual fee ($50), ATM fees

Virtual and physical cards available, cashback based on spending tiers, additional rewards for staking YouHodler tokens

Additional factors to consider:

• Cryptocurrencies supported: Not all cards support all cryptocurrencies. Check which ones are compatible with your needs.
• Staking requirements: Some cards require staking a certain amount of the platform's native token to unlock higher rewards or benefits.
• Spending limits: Cards may have monthly or annual spending limits.
• Location restrictions: Some cards may not be available in certain regions.

Disclaimer: This information is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.

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