Crypto Debit Cards

Debit card to spend crypto? Yes! Get a bitcoin card. XRP card next.

WIREX

* They are based in London. Load your card with Bitcoin or XRP. Great choice.

XAPO

One of the newest players on the debit card market. Headquarters in Zurich, Switzerland

WAGECAN

Founded in 2014 and incorporated in Hong Kong. Fairly transparent company.

UQUID

* The company hopes to unite those who use digital tokens with merchants in all areas of the world.

SHIFT

* Users of Shift are able to spend cryptocurrency at more than 38 million merchants around the world.

RAXCARD

Multiple red flags which indicate this may be a poor choice if you are looking for a Bitcoin debit card.

CRYPTOPAY

*The card streamlines currency transactions,  carries the VISA logo & founded Cryptopay in 2013.

COINSBANK

The company offers a cryptocurrency wallet, a Bitcoin debit card, and a Bitcoin exchange service.

COINIZY

* Only offers a virtual debit card that can be used for online purchases. Good enough for some!

BITWALA

**Users in 120 countries. This makes it one of the more popular Bitcoin debit cards available today.

ADVCASH

The card provided by AdvCash lets users spend money online as well as receive payments.

SpectroCoin

* They are more than just a debit card. It also offers exchange services and wallets.

MONACO

Linked to a Monaco bank account which gives users access to both cryptocurrency and fiat.

TENX

Headquarters in Singapore. Uses COMIT protocol, makes multiple blockchains accessible

BitPay

* It was founded in 2011. Bitpay is one of the oldest Bitcoin payment service providers.

Spend

Spend offers VISA and Union Pay Cards. Union card for anyone, anywhere.

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Guide to Bitcoin Debit Cards

  • Bitcoin and other cryptocurrencies have created exciting possibilities for financial freedom. They allow us to engage in financial transactions that are more secure. A core issue has always been how to freely spend Bitcoin like fiat currency. Wouldn't it be great if there were a way to use Bitcoin to buy products from your favorite online stores and offline retailers? A Bitcoin debit card can make this a reality.

    Cryptoswede has put together a brief guide to Bitcoin debit cards and how to use them. Here is all the information you need about this exciting development in the evolution of cryptocurrency.

  • A Bitcoin debit card is similar to the debit cards issued by banks, with one crucial difference. The card is backed by a Bitcoin balance instead of cash. Instead of the card being linked to the cash balance of your bank account, a Bitcoin debit card is linked to the token balance in your cryptocurrency wallet.

    Most Bitcoin debit cards bear either the MasterCard or Visa logo. This means you can use the card to make purchases at any online or offline merchant that accepts Visa or MasterCard. The card is charged and the user's Bitcoin balance pays for the transaction. Behind the scenes, Bitcoin is exchanged for cash instantly to complete the purchase.

    It is also possible to add Bitcoin to the card, and many cards can also be topped up with cash. This means that you don't have to visit a cryptocurrency exchange, sell Bitcoin, and withdraw cash to your bank account.

  • Bitcoin debit cards come in two varieties. There are plastic cards for use at physical shops, and there are virtual cards which can only be used online. Each option has a unique card number, expiration date, and CVC code just like a bank debit card.

    Cards will bear either the Visa or MasterCard logo. This also applies to virtual cards. Even though they don't have a physical existence, they are still backed by one of these two card companies.

    The advantage of having a plastic card should be obvious. A plastic card can be used to withdraw money from ATMs that accept Visa or Mastercard debit cards. That means you can receive cash from an ATM with your card, subject to the daily limits of your provider.

  • You probably think the whole situation is confusing. How is it possible that Bitcoins can be converted to cash so quickly? The answer is simple, actually. There are a lot of things happening quickly behind the scenes when you top up your card or make purchases.

    Your Bitcoin debit card provider may convert the Bitcoin you load to your card to cash as soon as you top up. Essentially, you are using a pre-paid debit card but you are topping up with Bitcoin instead of cash. A second method is that the card provider will convert Bitcoin to BTC, or Bitcoin Cash, as soon as you top up. The BTC is then converted to cash when you make a purchase or a withdrawal from an ATM machine.

    In either method, the transactions takes place with lightning speed. When you make a purchase or withdraw from an ATM, you will not have to wait a long time for the transaction to complete.

  • The benefits you may gain from obtaining a Bitcoin debit card are dependent upon your personal situation and how you use the card. We've prepared a list of the advantages most common to all users:

    • You can buy almost anything with your Bitcoin. A Bitcoin debit card can be used anywhere that Visa and MasterCard are accepted. This means you can spend your Bitcoins for gas, lodging, groceries, or shopping.
    • You can hold Bitcoin as an alternative to cash. The cryptocurrency market is typically volatile, but many believe the future of Bitcoin is bright. A debit card can be a good way to increase your Bitcoin holdings.
    • You can convert BTC to cash quickly. Using a debit card to convert can be much faster than using an exchange. You simply go to an ATM and withdraw the cash you need.
    • Some Bitcoin debit cards can be obtained anonymously. If you want privacy for your transactions, it may be possible to get an anonymous card.
    • You may be rewarded for making Bitcoin purchases by your card issuer. Reward programs vary from provider to provider, so be sure to check with your card issuer for details.
    • You can shop online of offline. Online shopping does not even require a physical card. You can get a virtual card which cannot be lost or destroyed.

  • Card issuers maintain their business operations by charging various fees to card holders. This is not that uncommon or different from a regular card issuer. You should shop around to see which card issuer has the most generous fee schedule. Here are the range of fees you can expect:

    • Card providers charge an average of $5-$15 for issuing a plastic debit card. You may also be able to obtain a virtual card for as little as $0.50. All providers that we are aware of charge this fee.
    • An annual fee may be assessed for each year that you use the card. This can be as low as $25 or it may be much more.
    • Monthly fees are also charged by many providers. These can be a low flat rate, or they can be a fee on a sliding scale that relates to how much Bitcoin you load in a month.
    • An exchange rate fee will be charged each time you exchange Bitcoin or BTC for cash. This rate fluctuates. It largely depends on the rates that are quoted by an exchange at the time you make a transfer.
    • ATM fees are charged just like they are for a regular cash debit card. These fees can average between a flat rate of $2.50 and a small percentage of the total amount withdrawn. You should also know that international ATM fees are generally higher.
    • Loading fees are money paid to the card issuer for topping up your debit card. These fees are usually a percentage of the load amount, and can range between 1% to 5% or more.

  • The card you choose is dependent upon a number of factors. Before you start looking for a card, ask yourself the following questions:

    • How often will I use my card?
    • How much Bitcoin will I load in a month?
    • Will I be using my card online, offline, or both?

    Your choice is also going to depend upon your country of residence. Some debit card providers do not issue cards to US residents. Others do not issue cards in India. You'll need to check the website of the Bitcoin debit cards we recommend to determine if you are eligible.

    You should also consider the reputation of the debit card provider. How long have they been in business? Are there many complaints about them online? You should be able to answer these questions before you make your decision.

    Fees are also a consideration. If you won't be using the card that much, the fees can become considerable. Finally, you must decide if you want an anonymous card. Not all card providers can issue an anonymous card, and some of the ones that claim to do so are scams.