Using crypto is becoming more and more popular, increasing the need to simplify its use. Crypto debit cards allow users to spend their crypto savings as easily as possible. There are two types of cryptocurrency cards: debit cards and prepaid cards. The difference between them is that the first is connected to your crypto account, and the second isn’t — you load money directly onto the prepaid card.
These cards can be used for day-to-day digital money spending. Also, they can be virtual and physical.
The cryptocard is linked to the user’s crypto wallet. During the transaction, the digital currency is converted into fiat money. Fiats are legal currencies declared legal tender by a government. Sometimes there is a double conversion when using crypto debit cards. First, digital coins are converted into dollars, then into local currency. In any case, the seller get’s fiat money, not cryptocurrency.
There are a lot of cryptocurrencies that are supported by crypto cards. Some of them support major cryptos such as Bitcoin and Ethereum. Other cards support multiple cryptocurrencies that include altcoins such as Litecoin, Ripple, Tether and so on. So choose the cryptocard that supports your preferable currency.
Moreover, crypto cards support almost all fiat currencies. For example, CryptoWallet allows users to convert crypto to fiat by using instant in-app exchange features. We support the following currencies: Bitcoin, Ethereum, Litecoin, Ripple and Tether and are planning to enlarge the list of supported currencies in the nearest feature.
The fees rate and the amount of fees depends on the financial institution that issued you a cryptocard. There are fees and limits for cryptocards. Fees include:
Additionally, cryptocards have different limits that include:
Before issuing any cryptocard check out the fees and the limits.
Many crypto companies offer virtual debit cards. They can be used to pay through Apple Pay, Google Pay, Samsung Pay and others using the NFC module in your phone. This is very convenient for users. In addition, the issuance and maintenance of virtual cards are often free.
Virtual crypto debit cards work exactly like plastic cards, but are much easier to issue. Especially, if you already have an account. As a rule, opening an account can be done in a couple of clicks and takes around 1-2 days. Also, virtual cards can be used until your physical card is delivered.
Many crypto financial institutions offer various rewards and benefits for using their crypto debit cards. These may include:
Also, rewards and bonuses can include access to the airport lounge, increased cashback, reimbursements and many more.
CryptoWallet offers unique crypto cashback for users. You will get cashback in crypto on purchases made in stores with your CryptoWallet debit card.
When choosing a crypto debit card, it is necessary to think about backup and recovery features. If you forget your login and password or device, you need to choose a platform that offers reliable backup and recovery options. So you can be sure that your crypto wallet would be recovered quickly if you forget or lose your credentials.
Additionally, check if the crypto debit card provider offers a simple backup process. This way you can avoid unnecessary waste of time and inconveniences during the recovery.
Check if you can understand basic features of your crypto card app. It should provide an easy interface and you should understand how to withdraw money, how to transfer money on your card, how to check your spendings and so on. If your crypto card app has a difficult interface you would have a hard time navigating it and using it.
Even if you are using cryptos for a long time and have an experience, it does not mean that you will understand how to use a particular crypto app. So our advice is that your crypto card provider app should have an outstanding user experience. This would allow you to avoid inconveniences when using your crypto debit card.
There are many companies on the market that provide crypto debit card issuing services. CryptoWallet is also one of them. We provide such features as shopping anywhere, converting, unique crypto cashback and contactless payments. Also, new startups constantly appear. Pay attention to things we mentioned above.
Crypto debit cards are convenient to use when you want to make a purchase with cryptocurrency. But remember that on average you will pay from 2% up to 5% for the conversion. If you want to save money, then exchanging for fiat money through a cryptocurrency exchange can be more profitable.
You decide what is important for you — saving your time or saving your money.
