A bitcoin debit card allows you to spend your cryptocurrency like you would spend regular cash in your bank account. And just like a normal debit card each time you use it, the money is deducted from your bitcoins account. And converted into merchant currency such as US dollars, euros, etc
A crypto debit card lets you spend your digital assets at locations where debit cards are accepted. Every time you use the crypto card, money is deducted from your wallet balance and converted into the merchant’s currency.
This article is to help you select a Bitcoin debit card that works for you and that is available in your locality. Some of these bitcoin debit cards are restricted to certain countries
What Are Bitcoin Debit Cards?
Bitcoin debit card allows people to purchase and withdraw cash from ATMs using Bitcoin. It doesn’t matter if the vendor and ATM don’t accept cryptocurrency, it works anyway.
Instead of exchanging Bitcoin into local currencies cardholders preload their debit card with a specific amount of cryptocurrency which is then automatically converted at the time of purchase.
Bitcoin debit card comes with plenty of opportunities. For instance, it charges a few fees and comes with cashback rewards and mobile apps. They also support multiple types of cryptocurrencies such as Bitcoin, Ethereum, and bitcoin.
The bitcoin debit card comes with robust security features to help protect funds.
Below is the BitCoin that has made headlines in 2022.
Read: 15 Best Bitcoin Wallets Of 2022
Bitcoins that have made headlines in 2022
Coinbase
Coinbase is an app that allows you to spend your crypto anywhere. It was founded in 2012. It supports up to 9 cryptocurrencies including Bitcoin, Ethereum, and Litecoin.
It is a Visa debit card that is funded by your coinbase balance. Coinbase is best for institutional-minded crypto investors. Although its debit card is yet to launch worldwide, it still allows users to spend any crypto asset in their portfolio and earn rewards for every purchase.
It supports up to nine different cryptocurrencies and features robust security but it requires a coin base account. That’s why it is the best
Block card
Block card is developed by financial technology company Ternio. BlockCard is a Visa debit card that allows cardholders to make purchases with their cryptocurrency of choice wherever Visa is accepted.
It is categorized under one of the cards that charge low fees because of the absence of the management fee, no deposit, exchange, or withdrawal fee.
This card supports over 13 cryptocurrencies sees including Litecoin, Ethereum, Bitcoin, Stellar Lumens, etc
The company charges a $10 activation fee as well as a monthly administrative fee of $5 ( conditional) and $3 for domestic ATM cash withdrawal; $3.50 for international.
To use a Block card you have to purchase native Ternio Tokens called TERNS or cryptocurrency which is converted to flat money during the time of purchase.
Wires
Wirex is a digital payment platform established in 2014. The company released a Visa-backed cryptocurrency debit card one year later. The card offers rewards in WXT.
Wirex has been nominated because the Wirex card supports 25 cryptocurrencies and nearly a dozen fiat currencies in Europe and a few Asian and Pacific countries and the U.S.
Cardholders pay no issuance, monthly, or withdrawal fees, and only a 1% fee to fund accounts with cryptocurrencies.
The Wirex card is one of the few cards to offer cashback rewards of up to 2% cashback in cryptocurrency. There is free standard delivery with no fees for maintenance or reissue of the card. Wirex Visa offers free ATM withdrawals up to about $300 per month.
Different from cryptocurrency that offers perks, Wirex does not require a minimum balance to earn rewards.
BlockFi
BlockFi is an incredible choice for customers looking for a Bitcoin credit card with multiple benefits. It was launched the first visa bitcoin credit card in July 2021 and has been making waves since
The card offers 15% cashback per purchase in Bitcoin with a bonus Bitcoin reward. This bonus increases to 3.5% for the first three months of card ownership up to a maximum of $100. It only supports bitcoin.
Read: Honest StartMiner Reviews 2022: Another Bitcoin Mining Scam?
Bitpay
Bitpay is another bitcoin debit card for people living in the United States. This card features no exchange fee in the United States and can be used anywhere MasterCard is accepted.
Bitpay debit card launched only in the United States in 2016 and has since then been operating. Debit cards support 62 currencies including bitcoin and Ethereum and also 8 different fiat currencies.
It supports apple pay and as recently added a new virtual card option he doesn’t charge a transaction fee for purchases made in the confines of the United States.
Instead, it charges 3% to 2 cardholders traveling abroad to cover the cost of currency.
Bitpay card has higher transaction and balances limits than other cryptocurrency secret cards to apply you need your social security number and driver’s license and you cannot ship the card to p.o. box.
Crypto.com
We include Crypto.com because of its features and great options
Crypto.com has seven different metal Visa debit cards that let cardholders spend over 90 cryptocurrencies and over 20 flat currencies anywhere a Visa card is accepted.
To buy each of the Crypto.com cards, cardholders must stake an amount of the company’s native CRO tokens and you must purchase crypto.com’s CRO tokens.
Crypto.com’s most popular (and affordable) $400 Ruby Steel card offers 2% back on every purchase, a 100% rebate on a yearly Spotify subscription, and no ATM withdrawal fees for up to $400 per month.
Cardholders who don’t want to spend $400 on a Visa card can also opt for Crypto.com’s Midnight Blue card, which offers 1% back and no ATM fees for up to $200 of withdrawals each month
Nuri
Nuri was created in 2015. It is available only in Europe. The company’s debit card charges no insurance monthly, no withdrawal fee, and can be used where Visa Is acceptable. ATM fees may be charged by some operators.
It’s the first card to allow European citizens to buy and sell cryptocurrency using their bank account. The card is delivered within two weeks of ordering from the Nuri app.
Nuri’s bank account services allow customers to buy and sell Bitcoin and Ethereum through a bank account that offers standard mobile banking features.
Any cryptocurrencies bought are converted to Euros in the Nuri account and can be accessed by the Visa debit card for easy purchasing.
The Nuri Visa debit card also offers advanced 3D security features, allowing users to authenticate online payments using biometrics, a mobile code, or a security phrase. Cardholders can also block their card in an emergency or report it stolen using the Nuri app.
It is only available in Europe, you need a Nuri account to get the card and it only supports Bitcoin and Ethereum.
Binance
Founded in 2017, Binance rose to become the world’s largest cryptocurrency exchange just one year later.56 In 2020, the company partnered with Swipe to offer a Visa debit card that offers 8% cashback, making it our choice as the best for cashback.7
The Binance Visa Card charges no issuance or monthly fees and only charges up to a 0.9% transaction fee for transactions and ATM withdrawals. Note that ATM operators may charge an additional fee. The card supports 30 cryptocurrencies, including Bitcoin and Ethereum.
Similar to Coinbase, the Binance Visa Card holds cryptocurrency in your wallet and only converts what’s needed at the time of purchase. The card can be used for in-store and online purchases anywhere Visa is accepted.
Although the Binance Visa Card’s cashback rate is the highest rate we’ve come across, it comes with a catch. Cardholders must have a balance of 600 Binance Coins, known as BNB, and receive their cashback reward in BNB. As of September 2021, a BNB costs $362.95, bringing a 600-BNB investment to $217,770.
Besides traditional online or brick-and-mortar purchases, you can typically use Bitcoin debit cards at ATMs to withdraw cash in the local currency.
How Do I Get a Bitcoin Debit Card?
To get a Bitcoin debit card, you will need a funded Bitcoin wallet with a Bitcoin debit card provider. After funding your account, you can request a Bitcoin debit card.
You may get both virtual and physical cards for added security when buying online.
Read: How Can I Buy Bitcoin In Nigeria In 2022? Beginner’s Guide To Wealth
Is BitCoin Debit Card Safe?
It is safe to use Bitcoin debit cards. Most of them come with security features like two-factor authentication, security codes, and biometric scanning like fingerprints.
Some cards even offer key secure cards protected by firewall encryption. And, like traditional debit cards, you can freeze or cancel the card if you suspect fraud.
Where Can I Use The BitCoin Debit Card?
The Bitcoin debit card can be used anywhere with brandy is accepted. it is available in Visa and Mastercard two types of cards that can be used anywhere in the world.
Besides the traditional online and physical purchases, Bitcoin debit cards can be used at ATMs to withdraw cash in local currency.
Read: What Is Bitcoin Mining And How Does It Work?
CONCLUSION
The Bitcoin debit cards discussed here are all exceptional but not perfect. That’s why you need to make comprehensive research before choosing your preferred choice.
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