Tethereum

<p><strong>Table of Contents</strong></p><ul><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#header-0" rel="noopener noreferrer nofollow">What Is a Crypto Debit Card?</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#header-1" rel="noopener noreferrer nofollow">Advantages of a Crypto Debit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#using-crypto-for-everyday-purchases" rel="noopener noreferrer nofollow">Using Crypto for Everyday Purchases</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#effortless-integration-between-cryptocurrencies-and-fiat-currencies" rel="noopener noreferrer nofollow">Effortless Integration Between Cryptocurrencies and Fiat Currencies</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#perks-and-cashbacks" rel="noopener noreferrer nofollow">Perks and Cashbacks</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#header-2" rel="noopener noreferrer nofollow">Disadvantages of a Crypto Debit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#not-available-globally" rel="noopener noreferrer nofollow">Not Available Globally</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#a-debit-card-is-not-a-credit-card" rel="noopener noreferrer nofollow">A Debit Card Is Not a Credit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#spending-from-your-debit-card-can-be-a-taxable-event" rel="noopener noreferrer nofollow">Spending From Your Debit Card Can be a Taxable Event</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#header-3" rel="noopener noreferrer nofollow">Which Crypto Debit Card Is the Best?</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#crypto-com-debit-card" rel="noopener noreferrer nofollow">Crypto.com Debit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#binance-visa-debit-card" rel="noopener noreferrer nofollow">Binance Visa Debit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#coinbase-debit-card" rel="noopener noreferrer nofollow">Coinbase Debit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#blockfi-crypto-credit-card" rel="noopener noreferrer nofollow">BlockFi Crypto Credit Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#wirex-crypto-card" rel="noopener noreferrer nofollow">Wirex Crypto Card</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#nuri" rel="noopener noreferrer nofollow">Nuri</a></li><li><a href="https://coinmarketcap.com/alexandria/article/what-are-crypto-debit-cards#monolith" rel="noopener noreferrer nofollow">Monolith</a></li></ul><p>Crypto debit cards are the <strong>most convenient way to spend your crypto </strong>instead of <a href="https://coinmarketcap.com/alexandria/article/crypto-slang-you-need-to-learn" rel="noopener noreferrer nofollow">HODLing</a> it. Here’s what we will be covering in this guide:</p><ul><li>How exactly do crypto debit cards work?</li><li>What are the advantages and disadvantages of crypto debit cards?</li><li>And which crypto debit card is the best in 2022?</li></ul><p>CoinMarketCap Academy answers all of these questions and more in our <strong>comprehensive guide on crypto debit cards</strong>.</p><p><a href="https://coinmarketcap.com/newsletter" rel="noopener noreferrer nofollow">Subscribe</a></p><p>Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) — what are you waiting for?</p><h2 id="header-0">What Is a Crypto Debit Card?</h2><p>Cryptocurrency holders are probably familiar with this dilemma: you have crypto you want to spend, but it takes a lot of effort to get it to your credit card.</p><p>A crypto debit card solves this. It works like a normal debit card but is a <strong>much more convenient way of spending your crypto</strong>. Consider the steps you would usually have to go through if you want to spend your cryptocurrency:</p><ul><li>Send crypto from your <a href="https://coinmarketcap.com/alexandria/glossary/hot-wallet" rel="noopener noreferrer nofollow">hot wallet</a> or <a href="https://coinmarketcap.com/alexandria/glossary/cold-wallet" rel="noopener noreferrer nofollow">cold wallet</a> to your <a href="https://coinmarketcap.com/alexandria/glossary/centralized-exchange-cex" rel="noopener noreferrer nofollow">centralized exchange</a>.</li><li>Wait for the centralized exchange to wire you the money.</li><li>Transfer the money to your current account.</li><li>Spend.</li></ul><p>It would be much easier to just be able to spend directly from your crypto balance, wouldn&#39;t it?</p><p>That is what crypto debit cards make possible. You spend from either your exchange account or a dedicated crypto account without jumping through hoops to withdraw your crypto.</p><h2 id="header-1">Advantages of a Crypto Debit Card</h2><p>Crypto debit cards have several other advantages besides saving yourself the hassle of moving money around.</p><h3 id="using-crypto-for-everyday-purchases">Using Crypto for Everyday Purchases</h3><p>You can pay for purchases online, in the store, or while traveling, and all of that from the same account you use for trading. If you have an account at one of the exchanges issuing these cards, <strong>it can even replace your regular bank account</strong> for day-to-day shopping. Plus, you never have to worry about overdrawing your account.</p><h3 id="effortless-integration-between-cryptocurrencies-and-fiat-currencies">Effortless Integration Between Cryptocurrencies and Fiat Currencies</h3><p>Crypto debit cards <strong>automatically convert from cryptocurrency to dollars </strong>or any other fiat currency. For example, you could use your account to receive a salary (if you get paid in crypto) and spend the money with your debit card. Of course, you still have to pay taxes.</p><h3 id="perks-and-cashbacks">Perks and Cashbacks</h3><p>The best feature of crypto debit cards is the <strong>generous cashback program</strong> many providers offer — the provider returns between 1-8% of the billed amount in crypto when you spend money from the card. Some also have reward programs for streaming services or other offers, while others waive card ATM fees. In general, crypto card issuers are fighting for clients, so you can get a great deal on cashback if you do your research.</p><h2 id="header-2">Disadvantages of a Crypto Debit Card</h2><p>Still, crypto debit cards also come with a few drawbacks compared to traditional debit cards.</p><h3 id="not-available-globally">Not Available Globally</h3><p>We will cover the best debit cards in the final section, where you will see that many have <strong>regional restrictions</strong>. For example, the Binance debit card is only available in Europe. You can still use the cards anywhere, just like a regular debit card. However, availability can be a problem, especially for users that are not in Europe or the US.</p><h3 id="a-debit-card-is-not-a-credit-card">A Debit Card Is Not a Credit Card</h3><p>This is equally true for traditional debit cards, but you cannot get credit with a crypto debit card. In other words, you can only spend the money you have. While this may be useful for financial discipline, it makes <strong>cryptocurrency debit cards of little use for big purchases</strong>. You will not be able to finance a bigger purchase with your crypto card because the provider cannot vouch for your solvency. Therefore, these cards can be <strong>useful for daily life</strong> but less useful for buying a car or a house.</p><h3 id="spending-from-your-debit-card-can-be-a-taxable-event">Spending From Your Debit Card Can be a Taxable Event</h3><p>If you are a <strong>U.S. citizen</strong>, you are probably painfully familiar with the difficulties of <a href="https://coinmarketcap.com/alexandria/article/this-will-kill-crypto-two-new-taxes-to-be-slapped-on-indian-investors-from-next-week" rel="noopener noreferrer nofollow">crypto taxes</a>. Since the IRS considers crypto a capital asset instead of currency, you have to pay<strong> capital gains tax on purchases with your debit card</strong>. Put differently, if you bought <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">BTC</a> at $20,000 but spent it from your debit card at $40,000, you would owe capital gains tax on the difference. On the other hand, you could also use your debit card to offset losses. In any case: <strong>taxes can be a delicate topic for U.S. debit card holders.</strong></p><h2 id="header-3">Which Crypto Debit Card Is the Best?</h2><p>Both Visa and Mastercard issue debit cards, so you will have no issue using your crypto card like a traditional card. Academy has reviewed the <strong>seven best crypto debit cards</strong> (in no particular order) and researched the best options in terms of fees, rewards and availability. Please <strong>skip to the end for the overview table</strong>.</p><h3 id="crypto-com-debit-card">Crypto.com Debit Card</h3><p>Crypto.com offers one of the most popular crypto debit cards on the market. With more than 100 cryptocurrencies supported, it is also one of the most useful ones. Furthermore, Crypto.com issues its cards in more than 100 countries worldwide, covering not only the United States and Europe, but also Asia and Latin America.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8f19a2924eeb4ee7b94de0b0d82c5db5.png" /></p><p>Customers can choose between five different tiers. Each tier has its own reward structure, with the most exclusive <strong>Obsidian</strong> card offering up to 5% cashback and perks like airport lounges and free streaming services. However, its staking requirements are enormous. For the Ruby Steel option, it offers 1% cashback for $400 worth of staked CRO.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6fb41696c85f497c82585f431ab8badb.png" /></p><p><strong>Conclusion:</strong> an global option for around the world.</p><h3 id="binance-visa-debit-card">Binance Visa Debit Card</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/f6e3a0d3018e410c923501bf1c54f42b.png" /></p><p>Binance offers a very affordable Visa card to European customers, according to its site. With low fees and a comparably high spending limit (only limited per day), the <a href="https://www.binance.com/en/cards" rel="noopener noreferrer nofollow">Binance Visa card</a> is an option for Europeans looking to spend. Like the Crypto.com card, Binance offers up to 8% cashback but only if you stake a massive amount of BNB. The card is not available outside of continental Europe.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/49032d0e1ba641758040b49f05a1e02c.png" /></p><p><strong>Conclusion:</strong> an affordable choice for Europeans.</p><h3 id="coinbase-debit-card">Coinbase Debit Card</h3><p>With no sign-up or ATM withdrawal fees, the Coinbase card is an option for Americans. Furthermore, the card offers up to 4% cashback in XLM and 1% in BTC. Europeans can also get a hold of the Coinbase card, but will have to pay an issuance fee and conversion fees when dealing with other currencies. Due to its top-class security, the Coinbase card is one of the most popular cards on the market, according to Coinbase.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/a81cd2e8fbeb41fdbe42221dad2808dd.png" /></p><p><strong>Conclusion:</strong> a choice for Americans.</p><h3 id="blockfi-crypto-credit-card">BlockFi Crypto Credit Card</h3><p>The BlockFi card is not a debit card, but a credit card. It works like a regular U.S. credit card, with the added perk of earning cashback in Bitcoin. After the initial promotional period with 3.5% cashback, you receive 1.5% cashback in BTC on all your purchases. As with a regular credit card, credit checks apply when you request the card.</p><p><strong><img src="https://academy-public.coinmarketcap.com/optimized-uploads/2b43c637bf4e42c7833b557c9bd6ec25.png" /></strong></p><p><strong>Conclusion</strong>: an option for Bitcoin maximalists.</p><h3 id="wirex-crypto-card">Wirex Crypto Card</h3><p>Wirex offers a crypto card that supports numerous fiat and cryptocurrencies. That means you don&#39;t have to pay conversion fees in other currencies, making Wirex an option for travelers. Furthermore, you receive 2% cashback in the native WXT token. Wirex does not charge any fees for the card, but topping up the card with crypto costs 1% of the transaction amount. The card is only available in the UK and the European Economic Area.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/2c2bd031933548bf9d804d26405397fc.png" /></p><p><strong>Conclusion</strong>: an option for travelers.</p><h3 id="nuri">Nuri</h3><p>Nuri offers a low-cost option with great ATM withdrawal limits for Europeans. You can withdraw up to €1,500 per day for free. The card can be topped up in BTC or Euro. Unfortunately, Nuri has no cashback program, although you can receive interest on your BTC through the Nuri savings account.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/2c5fec97e94d40fa8f2272b04cf87742.png" /></p><p><strong>Conclusion:</strong> anoption for European bitcoiners.</p><h3 id="monolith">Monolith</h3><h3 id=""></h3><p>Monolith claims to be the first non-custodial crypto Visa card. That means that unlike with other cards, you still own the cryptocurrency in your Monolith account. Another feature is that you can top up the card with almost all popular <a href="https://coinmarketcap.com/alexandria/glossary/erc-20" rel="noopener noreferrer nofollow">ERC-20</a> tokens, albeit for a 1% fee (except for <a href="https://coinmarketcap.com/currencies/multi-collateral-dai/" rel="noopener noreferrer nofollow">DAI</a>). You can swap the crypto to fiat to spend it from your Visa card. Monolith is only available in the Eurozone and the UK.</p><h3 id=""></h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/85aae540eb784ecea6919c6128de1678.png" /></p><p><strong>Conclusion</strong>: an option European Ethereum freaks.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d31c67eabf2c425393f7161c50f84104.jpg" /></p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/4cad6ef5b7be47a99a329176cbe6cec4.jpg" /></p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/e4739b9998774a40ae833a67a1810a1f.jpg" /></p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/553944275fc540eda68ea13f457ce1b7.jpg" /></p><p>This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.</p>

What Are Crypto Debit Cards?

Table of Contents

TETHEREUM

Other articles published on Jan 28, 2023

Is XTZ Crypto A Good Investment For Future?

Armoring Products Launches Revolutionary ARMOC Token, Revolutionizing $72 Billion Vehicle Armor I...

Celer IM Launches on Mainnet: A New Era for Inter-chain dApps Begins

Why Should A Trader Use A Decentralized Exchange?

Is it Really Worth It to Invest in Cryptocurrency Right Now?

Step-by-step Hera Workflow guide | How does Hera Dex Aggregator work?

Join our free newsletter for daily crypto updates!