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7 Best Crypto Debit Cards

Jennifer Alanis -

The crypto winter negatively affected the prices of most cryptocurrencies throughout 2022. For instance, a few days before the year’s end, Bitcoin is trading at 75% below its all-time high price of 2021. Yet, the adoption of these digital assets has increased. How can you tell? Well, more and more people are using crypto debit cards to buy goods and pay for services. So, if you plan to get a crypto debit card in 2023, we will tell you which ones are the best in the market. After reading this article, you will be able to choose the best crypto debit card for your specific needs.

What Is a Crypto Debit Card?

A crypto debit card is a plastic or metal card like a regular debit card, but instead of linking to the holder’s bank account, it connects to a crypto wallet. Most crypto debit cards are backed by companies like Mastercard and Visa, allowing holders to use them without reservations. Crypto cardholders can use their crypto debit cards for ATM withdrawals, online purchases, and in-person payments.

How Do Cryptocurrency Debit Cards Work?

To use a crypto debit card, you must top it up with a cryptocurrency. In many cases, you should use the cryptocurrency issued by the card provider to load funds, although other popular coins like Bitcoin and Ethereum are commonly used too. This procedure is similar to prepaid debit cards, with the difference of using digital coins for preloading instead of fiat money.

When a withdrawal or payment occurs, the crypto debit card sells the necessary crypto assets on an exchange. The cardholder gets the requested amount of fiat money at the ATM or point of transaction. This way, crypto cardholders can spend their digital coins as if they were fiat money, but with additional benefits that we discuss below.

Benefits of Crypto Debit Cards

Although more people are getting interested in cryptocurrencies, the mainstream use of these digital assets has yet to be achieved. Most businesses do not accept payments in cryptocurrency. Hence, the most significant benefit of a crypto debit card is the possibility to pay for goods and services using crypto assets indirectly. Other benefits are:

  • Lower fees. Crypto debit cards have significantly lower annual fees than cards issued by banks.
  • No foreign exchange fees. While bank-issued cards usually have foreign exchange fees, they are inexistent with crypto debit cards. This benefit is particularly good for frequent travelers.
  • Access to different fiat currencies. A crypto debit card gives you access to many different fiat currencies.
  • Cashback rewards. Most crypto card providers offer different cashback rewards for using a crypto debit card.

Top List of Best Crypto Debit Cards

Now that you know what a crypto debit card is, how it works, and its benefits, you surely want to get one, don’t you? So, let us go to the point. Below is the list of the best crypto debit cards for 2023.

Coinbase Visa Card

Coinbase is one of the most popular crypto exchanges worldwide. The Coinbase Visa Card supports up to nine cryptocurrencies, including popular coins like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). To get this crypto debit card, you must create a Coinbase account. This card automatically converts your preferred cryptocurrency in your Coinbase wallet on demand. It offers a cashback program with up to 4% of reward per transaction.

Pros

  • You can use it anywhere Visa is accepted.
  • You can pay using multiple crypto wallets.
  • A high level of security.

Cons

  • You must create a Coinbase account.

Crypto.com Rewards Visa Prepaid Card

Crypto.com offers seven metal Visa debit cards, supporting over 90+ cryptocurrencies and more than 20 fiat currencies. Among these cards, the Crypto.com Rewards Visa Prepaid Card is the most practical for users who want to convert their crypto assets into spendable money readily. One of the most significant benefits is its cashback program, which allows earning up to 8% on purchases.

Pros

  • Over 90+ cryptocurrencies supported.
  • No issuance or annual fees.
  • Up to 8% cashback.

Cons

  • You must buy Crypto.com’s CRO tokens to get rewards.

BitPay Debit Card

The BitPay Debit Card supports seven major cryptocurrencies, including BTC and ETH. It also supports six fiat currencies. You can use this card anywhere Mastercard Prepaid cards are accepted. Although this card does not have a reward program, it is an excellent entry-level crypto debit card. This BitPay Debit Card is for U.S. residents only, and to apply for it, you must provide a driver’s license and Social Security number.

Pros

  • Excellent entry-level crypto debit card.
  • Valid anywhere in the world.
  • No conversion fees within the United States.

Cons

  • For U.S. residents only.

Binance Visa Card

Binance is the world’s largest crypto exchange by volume. Through a partnership with Swipe, Binance began offering a crypto debit card in 2020. The most striking feature of this card is the 8% cashback it provides. There is no issuance of annual fees for the Binance Visa Card. Cardholders must pay a fee of 0.9% for transactions and ATM withdrawals. The Binance Visa Cards support twelve cryptocurrencies, including BTC and ETH. To receive the 8% cashback benefit, you must have a balance of at least 600 Binance coins (BNB). The cashback rewards are also paid in BNB.

Pros

  • 8% cashback (the best in the market).
  • No issuance or annual fees.
  • Converts crypto on demand.

Cons

  • You must have a balance of at least 600 BNB.

BlockFi Visa Rewards Signature Card

This card is arguably the best for unrestricted cashback. Cardholders earn points with every purchase, which are converted into cryptocurrency at the end of the month. Cardholders can choose the cryptocurrency for their rewards. The previous feature appeals to crypto investors who leverage price volatility to gain additional money. However, for cardholders with less knowledge of the crypto market, choosing the cryptocurrency for rewards could be a hindrance.

Pros

  • Cashback rewards in a variety of cryptocurrencies.
  • Unlimited 1.5% cashback on all purchases.
  • No annual or foreign transaction fees.

Cons

  • You must spend at least $30,000 annually to reach the 2% cashback reward tier.

Wirex Debit Card

Wirex is a digital payment platform founded in 2014. One year later, this company launched a Visa-back crypto debit card. The Wirex Debit Card converts cryptocurrency on demand, allowing investors to hold onto their crypto assets for as long as possible. This crypto debit card has a cashback program that offers up to 8% rewards on your purchases.

Pros

  • Up to 8% cashback and referral bonuses.
  • Over 150+ crypto and fiat currencies are supported.
  • No issuance or annual fees.

Cons

  • You must buy Wirex’s WXT tokens to get this card.

BlockCard Reward Visa Card

Ternio, a financial technology company, developed BlockCard. Cardholders can purchase goods wherever Visa is accepted. This crypto debit card features a flat account management fee. So, there are no deposit, exchange, or withdrawal fees. Arguably, BlockCard is among the crypto debit cards with the lowest fees. To use BlockCard, you must stake native Ternio tokens (TERN).

Pros

  • No transaction, exchange, or withdrawal fees.
  • Flat monthly fee.
  • Cashback rewards.

Cons

  • You must buy Ternio’s TERN tokens to use this card.

Do Cryptocurrency Debit Cards Have a Future?

Although crypto debit cards are relatively new, they enjoy considerable acceptance from crypto users. Some experts think crypto debit cards could be the future of payments. Major crypto exchanges like Coinbase and Binance offer crypto debit cards, which can be topped up easily from cardholders’ crypto wallets. The central selling point of these cards is the ability to quickly convert crypto assets into fiat money to pay for goods and services.

Conclusion

Crypto debit cards allow spending cryptocurrencies easily. These cards usually exchange crypto assets on demand. This way, crypto investors can hold onto their cryptocurrency for as long as possible while being able to spend part of it when needed. For this reason, crypto debit cards are regarded as the future of payments. If you are interested in buying crypto assets at competitive rates to top up your crypto debit card, you can use LetsExchange.io. Our platform supports 2,000+ digital coins and tokens.

FAQ

Which crypto debit card is best?

Most experts think the Coinbase Visa Card is the best crypto debit card. However, different cards might be best for you depending on what you want from your crypto debit card.

Is it worth getting a crypto debit card?

Getting a crypto debit card is worthwhile if you want to spend some of your crypto investments to buy goods and pay for services.

Where can crypto debit cards be used?

You can use a crypto debit card at any business that accepts Visa or Mastercard to pay for goods and services. You can also use it at ATMs to withdraw fiat money.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.

Stay tuned for further updates, crypto guides, and market insights from LetsExchange. You can also follow us on Twitter, Facebook, Reddit, Instagram, LinkedIn, Medium, Quora, Telegram, Steemit, and Bitcointalk for first-hand information from our team.