Top 9 of Crypto Currency Debit Card by Crypto-Auditor.com
- Top 9 of Crypto Currency Debit Card by Crypto-Auditor.com
- Methodology of Choosing the Best Crypto Wallet with Debit Card
- Best Bitcoin Wallets with Debit Card
|Crypto Currency Debit Card||Key Characteristics||Pros & Cons|
|Binance Visa Card||
|Crypto.com Card Midnight Blue||
|Crypto.com Card Ruby Steel||
|Bitpanda Visa Card||
|Nuri Visa Card||
Methodology of Choosing the Best Crypto Wallet with Debit Card
Which card is recommended depends on the respective user behavior. For example, if the card is mainly used to withdraw cash, the fees are different than if online shopping takes the lion’s share. Nevertheless, general recommendations can be made on the basis of carefully defined criteria.
The card providers make a profit with the fees incurred, for example for converting currencies or withdrawing from machines. A special feature of the Bitcoin cards are crypto-to-crypto exchange fees.
What criteria should one pay attention to? Various criteria are important when making the selection. For some interested parties, only the fees are decisive. For others, limits or cashback programs will tip the scales.
Fees make up the lion’s share in the rating of credit cards. Because the fee structure and usage behavior determine how much cardholders ultimately have to pay.
There are a number of fees to consider when choosing crypto credit cards.
Fee upon Issuing
The fees for applying for a new card are up to 10 euros. The issue of a replacement card is similarly high or low.
Most providers, however, issue cards at no cost to the new owner. Since it is also a one-time payment, this fee is not very significant.
This is of course different with an annual fee that is due regularly. The good news is that only a few providers charge a basic fee here, too.
Caution is advised in the premium segment. The greater the benefits, the greater the likelihood of an annual fee.
Here, ticket buyers should carefully study the conditions. If you only use the card occasionally or for certain transactions, the fee has little weight.
With many and especially with many high transactions, however, a percentage obolus can quickly add up.
Transaction fees are often linked to limits. It is worth knowing about the best combinations and choosing the card accordingly.
Trading and Exchange Fees
The profit margin for providers comes mainly from the collection of exchange fees. The procedure, which is well known from the stock exchanges, defines that users have to pay specific purchase and exchange fees for each currency.
For example, when exchanging Bitcoin for Fiat, there is a certain percentage that is automatically deducted from the final amount in Fiat.
Cash Withdrawal and Top-up Fees
The whole point of a credit card is cashless payment. If cardholders do need cash, they can withdraw it from an ATM.
This leads to fees for around half of the credit cards tested, which are reflected either in a flat fee or a percentage fee or a combination of both.
Conversely, providers are faced with the challenge of keeping large sums of money in the wallets and accounts of the users. In order to keep this manageable, some exhibitors charge top-up fees, such as Swipe with 3.9%.
As with transaction fees, there are also limits to be taken into account for withdrawals and top-ups.
The credit card has its own wallets, often several next to each other (Bitcoin, Ethereum, Litecoin, etc.). Users can decide that payments in fiat currencies (euros, dollars, etc.) are converted immediately at the current rate. Alternatively, you can determine the time of exchange yourself and thus choose a favorable rate. Payments in coins are also possible.
Many providers make it possible for users to determine the order in which the wallets are “debited”. If the Bitcoin wallet is empty, for example the Ethereum wallet comes next, etc.
Converting cryptos to fiat when paying is by far the more common option.
Cashback, i.e. discounts when paying, is a popular feature of credit cards. Some crypto credit cards also offer cashback programs. Usually there is cashback but not without consideration. It is also important to check whether cashback is only valid for online or also for in-store.
Many providers have a token (including BEST, BNB or CRO). Percentages are only granted to those who have a certain amount of it. The payout is often also made in your own token.
However, since these tokens are subject to price fluctuations, the cashback percentage may be a milkmaid bill. For example, there is 1% cashback, but at the same time the price drops by 10%.
With the blue Crypto.com card and the Binance Card, there is 1% cashback even without purchasing a token.
Very few providers have an app just for credit cards in their portfolio. It is much more common that there is one app for the entire ecosystem. The card then has its own area in the app.
However, the existence of an own app is not a matter of course. It is not surprising that the large crypto companies in particular can map credit card management in their own apps.
Credit Card Provider
The crypto credit card market is large and so it is not surprising that established platforms as well as disruptive start-ups are involved.
Providers like Binance or Crypto.com know users from numerous other offers. Eidoo, Monolith and Plutus are rather unknown. Here, the selection depends on personal preference: How important is many years of experience in storing the coins for your own sense of security?
Place of business and company form can also play a role, for example when it comes to regulatory aspects.
The crypto industry has established the term “Bitcoin debit cards”. Many cards nonetheless explicitly have other cryptocurrencies—above all Ethereum—in their wallet portfolio.
In the course of our test, we took a close look at the debit cards of all well-known providers, in both virtual and physical form.
So far, cryptocurrencies have not yet made it into everyday payment transactions. Some providers have recognized this gap and added special Bitcoin debit cards to their portfolio that can be used to issue cryptocurrencies.
In addition to the “hard” criteria that play a role in the selection of crypto credit cards, the exhibitors have a number of other advantages on offer. These can be bonuses or discounts or additional benefits on your own platform.
One of the currently most attractive additional offers are discounts and free subscriptions to partner companies. A Netflix subscription on top? How about a percentage on the monthly Spotify fee? Swipe in particular scores here.
Best Bitcoin Wallets with Debit Card
Our methodology is also based on the fact that in the crypto community, it is natural to make online payments using a wallet. Examples of use are transactions to and from stock exchanges or simply transfers to friends. However, Bitcoin & Co. have not yet spread in everyday payment transactions.
In online shopping, too, buyers must be lucky when cryptocurrencies are available for payment.
This creates a dilemma for users who hold part of their assets in coins. It does not seem to work (yet) without institutions or companies that create a bridge between the coins in the wallet and the accepted payment options of the providers.
From this point of view, Bitcoin debit cards are a necessary interface. They combine the advantages of a debit card, such as worldwide payment at many acceptance points, with access to the coins in your own wallets.
There are many providers on the market. For users, the question arises: Which debit cards are good? Which crypto card is right for me? We put that to the test in our test.
|Crypto Debit Card||Best for|
|Crypto.com Card Midnight Blue||Best for Daily Use|
|Monolith Card||Best for Ethereum|
|Crypto.com Card Ruby Steel||Best for Virtual Visa Card|
|Wirex Card||Best for Direct Spending|
|Bitpanda Visa Card||Best for Security|
|Eidoo Card||Best for Free Card Reloads|
|Binance.com||Best for Zero Administrative Fees|
|Plutus Card||Best for Rewards|
|Nuri Visa Card||Best for Traveling|