Best Crypto Debit Card in 2024

Crypto debit cards and crypto credit cards represent an attractive alternative to traditional cards offered by banks and other centralized financial institutions.

Not only do they offer the possibility to pay with Bitcoin and other digital assets in regular stores; also, they offer a number of perks such as cashback on your purchases and reduced fees. In addition, they serve as an ideal solution for converting fiat into crypto and vice versa in a quick and convenient manner.

Launching a crypto debit card is a rather complicated task because of numerous legal restrictions and strict KYC (Know-Your-Customer) requirements imposed by local regulators. Therefore, finding a reputable company that offers such a service may be difficult as well.

Worries aside, we have your back covered. In this article, we are going to review some of the most popular crypto debit card providers, explain how they work, and what security measures one should take when using such services.

Top Crypto Debit Cards

1. Coinbase debit card: Our top pick for the best crypto debit card in 2024
2. Crypto.com debit card: Earn up to 5% cashback on purchases
3. Uphold: The best crypto debit card for travellers
4. Binance dredit card: One of the most reputable crypto debit card providers
5. Ledger debit card: One of the most secure debit cards that supports over 1000 cryptocurrencies

1. Coinbase Card – Best for Spending

The Coinbase card is a crypto debit card that offers relatively high crypto rewards reaching 4% in some cases. Rotating rewards and the lack of annual fees make the service quite attractive.

However, it’s important to note that the card is more suitable for spending USD or USDC rather than crypto, as huge conversion fees can significantly reduce the ultimate rewards. Despite this downside, its global acceptance and availability to customers in many countries make it the number one solution among other options.

2. Crypto.com Card – Best for CRO Holders

Crypto.com Card is a versatile cryptocurrency card available in multiple formats. It comes with various rewards and benefits depending on the level of CRO staked.

There are different card options with each of the tiers offering different staking requirements and perks. For example, it offers a physical metal card and 1% CRO rewards. For premium options, there is a 5% CRO reward and a range of luxury privileges.

It is also worth mentioning reimbursement for different subscriptions such as Spotify and Netflix. The card is technically prepaid.

3. Uphold Card – Best for Travelers

The Uphold card is best suited for crypto investors who want more control over their expenditures. Apart from cryptos, it also supports 20+ national currencies and precious metals.

The functionality allows users to choose their funding source and use the card for purchases and ATM withdrawals. It is particularly beneficial for travelers, as it has no foreign transaction fees and enables cash withdrawals in over 180 countries without manual conversion.

However, the availability of the card is uncertain, and customer support may be unresponsive. To make the new product attractive, it offers a number of advantages. Thus, it doesn’t have any staking requirements and pays out rewards in the same crypto that users spend.

At the time of writing, the Uphold card is available in the UK only. However, it is expected to launch in the US soon.

4. Binance Debit Card – Best for Cashback

Binance Crypto Debit Card is offered by Binance, one of the largest cryptocurrency platforms in the world. Launched in late 2020, the card allows users to spend their crypto assets globally by exchanging cryptocurrency for fiat currency in real time.

With acceptance in 200+ countries, the Binance Card offers convenience and accessibility for users regardless of their location. It supports various cryptocurrencies, including BNB, BTC, Ethereum, and Tether.

Users can enjoy cashback rewards of up to 8% on eligible purchases, depending on their card level and the amount of BNB coins they hold. Also, the card comes with decent spending limits and relatively low transaction fees, making it cost-effective for users.

Though it has limited fiat currency support, it is available to citizens of specific European countries. Overall, the Binance Crypto Debit Card provides a reliable and convenient option for cryptocurrency enthusiasts to utilize their assets in everyday transactions.

5. Ledger Card – Best for Security

The CL Card powered by Ledger and provided by Baanx Group Ltd. represents a convenient solution to enhance your cryptocurrency experience. Exclusively available for UK and EEA customers, this crypto debit card enables seamless and secure transfers between the card and your Ledger Live account.

The CL Card offers its users effortless control over their assets through the platform’s proprietary app and a wallet, facilitating easy management and top-ups. The CL Card provides flexibility whether you prefer spending your crypto directly or leveraging such services as Cryptodraft and Stableloan. These features offer immediate credit lines backed by your crypto assets.

The card is accepted by 90+ million merchants and online stores, providing the convenience of instant fiat conversion during purchases. The acquisition of the card is pretty simple. It involves only setting up an account and funding it with crypto from your Ledger wallet.

Best Crypto Debit Cards Compared

How Do Crypto Debit Cards Work?

In the broad sense, crypto debit cards work in the same way that traditional prepaid cards do. You may use them for the same purposes, i.e. pay for the goods and services or withdraw cash in ATMs.

What makes them different is the possibility to store cryptocurrencies and use them for payments. Why is it such a big deal?

The point is, many retailers are still very cautious when it comes to accepting crypto alongside other payment methods. The factors that hold them back are aplenty: Bitcoin volatility, complex technological aspects, the lack of a proper regulatory framework, etc.

Bitcoin debit cards remove this gap. They make it possible to spend crypto that you store on a linked digital wallet in regular shops.

Here’s what the process looks like:

1. A processing company reaches out to the crypto wallet and takes an equivalent sum in crypto needed to cover the purchase.
2. Crypto is converted into regular fiat money.
3. The payment is delivered to the merchant’s bank account.

The whole procedure takes a few seconds which makes using Bitcoin debit cards as convenient as traditional bank cards.

How To Use A Crypto Debit Card

As most of the crypto debit cards are Mastercard and Visa cards, you can use them in the very same way as traditional bank-issued cards.

1. First, you can use them to pay in regular shops. Simply swipe your card to make a payment, and the merchants will receive cash in their local currency.

2. Next, you can use them to make payments online. For that, type your card number and other details within the payment processor.

3. Finally, you can use crypto debit cards to withdraw cash in ATMs.

Note that regardless of the use case you should have sufficient crypto in your wallet. Also, if you use volatile assets, keep in mind their current rates. Crypto debit card providers usually provide this information in their web and mobile apps.

Finally, some Bitcoin debit cards offer cashback rewards. Usually, these rewards are paid out in crypto that you get to your associated wallet address. You can use them similarly to your other crypto assets, i.e. hold, trade, stake, or transfer to other wallets.

Are Crypto Debit Cards Safe?

Similar to traditional bank cards, crypto debit cards come with numerous security features helping you protect your funds. The measures they offer usually include encryption and multi-factor authentication.

Also, companies issuing such cards typically have strong AML policies in place. This means that your account will be closely monitored for any suspicious activities and automatically blocked in case of theft or fraud.

However, there are some serious risks to consider as well:

• Centralization. Storing funds on a crypto debit card means entrusting them to a centralized entity that may go bankrupt at any time or fall victim to a hacking attack.
• The lack of insurance. Crypto debit cards are not subject to federal insurance. Therefore, if the card issuer fails, there will be no one to reimburse your losses.
• Volatility. If you use your crypto debit card for storing volatile assets and the value of these assets drops, you may find yourself in a situation where your balance is insufficient for covering your purchase.

Consider all of these factors if you want to use crypto debit cards for daily use. Treated with due diligence, your funds may remain safe while you earn crypto rewards.

Should You Get a Crypto Rewards Debit Card?

Whether you should get a crypto rewards debit card or not depends on your personal situation. This means that this is absolutely up to you to decide.

Think thoroughly about your financial position and evaluate your budgeting and spending patterns. Also, consider the following factors:

• Rewards. Cashback rewards that some of the crypto debit cards offer may contribute to your investment portfolio. Thoroughly study the options available and choose the card that offers this option for the coins you are interested in.
• Ease of use. Crypto debit cards are surely much more user-friendly than the majority of other crypto payment solutions. Yet, they also require some technical skills, at least when it comes to depositing crypto to associated wallets from external sources.

• Accessibility. Normally, crypto debit cards are self-sufficient, meaning that they do not require any bank account for you to access your funds. Yet, if you have a requirement for integration with some specific banks, make sure that the card provider supports them.

• Fluctuations in the value of rewards. The rewards that you may obtain when paying with crypto debit cards may be quite lucrative. But if they are paid out in Bitcoin or other volatile coins, all your earnings may significantly drop in value due to the high volatility of the crypto market.
• Security. Crypto debit cards are not subject to any insurance. Therefore, there is always a risk of losing your funds in case the issuing company gets hacked or goes out of business.
• Fees. When paying with a crypto debit card you will have to pay not only the fee that the card imposes. Also, there is a network fee that serves as a miners’ reward. Thoroughly evaluate all the associated costs for using a crypto debit card and make sure that they do not exceed your personal expectations.

Crypto Debit Cards vs Crypto Credit Cards

Crypto debit cards act similarly to traditional bank cards. They connect with your crypto wallet and provide you with the purchasing power within the sum that you store on this wallet. When you make a payment, your crypto holdings are converted into fiat and sent to the merchant’s account. Yet, regardless of the case, these cards enable you to only spend the money that you truly own.

Crypto credit cards, on the contrary, make it possible to operate with borrowed funds. When using such cards, you borrow fiat and pay back the crypto loan with fiat as well. However, in most cases, you can earn crypto rewards in the process.

A crypto debit card may fit you well in the following scenarios:

• You don’t want to pay interest on borrowed money
• You have a lot of digital assets that you’d like to spend hassle-free
• You don’t have a bank account
• You want to earn rewards in crypto

• You have poor money management skills and you want to avoid debt

Crypto credit cards will work best in other cases:

• You have high payment discipline and good money management skills
• You want to get some goods and services now and postpone payments for a later date
• You want to get crypto rewards
• You have a high credit score

If you want to learn more about crypto credit cards, check out our guide to the best crypto credit cards.

Final Thoughts

If you want to make use of your cryptos in real life and earn some cashback on your spending, then a crypto debit card could be the right choice for you. These cards represent a convenient option for spending crypto in both physical and online retail shops. What’s more, they offer lucrative rewards that can contribute to your crypto investment portfolio.

Keep in mind, though, that storing crypto in such a way is no different from storing your fiat assets. This means that you will have to give up privacy and entrust your funds to a third party. Therefore, do thorough research so as to select the card provider that would work best for you.

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