List of Best Bitcoin Debit Cards
According to news reports, every 1 in 10 people worldwide is investing in Bitcoin. Most of these people admitted investing in Bitcoin only because Bitcoin trading has become easier than ever before! Many governments are also introducing crypto-friendly regulations and taxes. Moreover, companies have started to pay salaries in the form of cryptocurrency. Many platforms also allow you to pay in Bitcoins in return for a product or service. Since these statistics indicate that Bitcoin is the future of currency, you need a Bitcoin debit card to make money with cryptocurrency.
Here’s a list of the best Bitcoin debit cards and their perks.
According to cryptocurrency experts, Coinbase is the best Bitcoin debit card in the cryptocurrency market. Coinbase also supports eight other cryptocurrencies, which means that people who invest in other cryptocurrencies like Ethereum and Litecoin can benefit from it too. Moreover, a Coinbase debit card is accepted wherever a Visa card is accepted, including many multinational chains and well-known brands. Coinbase is also known for its extensive security features, like instant card freezing, multiple-factor authentication, spending tracking, etc.
However, people who want a Coinbase debit card need to have an account on the popular digital currency exchange platform Coinbase. In addition, a Coinbase debit card automatically converts currency in Bitcoin on your demand, which is a feature missing in many Bitcoin debit cards.
If you’re new to cryptocurrency and are looking for low-cost debit card options, then BlockCard should be your ultimate choice. It has a $5 monthly fee and charges $3 on every ATM withdrawal. Moreover, the foreign transaction fee on BlockCard is only $2, which means that you can send Bitcoin anywhere in the world for only 2 dollars. It also doesn’t have any exchange or deposit fees either.
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For people who love to have many perks with their debit cards, Wirex is the best choice. It has no ATM withdrawal fees, supports 25 different cryptocurrencies, and gives a transaction cashback of 2%. Moreover, you can also earn interest on Bitcoin and other cryptocurrencies through this debit card.
BlockFi - Best for Cashback
Unlike other debit cards on this list, BlockFi only supports one cryptocurrency – Bitcoin. However, the card provides a 3.5% cashback in the first three months and a 1.5% cashback overall, making it the right card for people who want huge cashback on every transaction.
BitPay - Best for US Residents
If you live in the US, BitPay is your go-to debit card. It has no exchange fees in the US, but it charges a 3% foreign transaction fee. It supports 6 cryptocurrencies and can be used in all the places where MasterCard is supported.
Crypto.com - Best Variety of Cryptocurrency Supported
This no-annual-fee bitcoin debit card is the best option for people who have invested in multiple cryptocurrencies. It supports 90 cryptocurrencies and more than 20 fiat currencies. Moreover, it offers 1% to 8% cashback on its different cards.
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Nuri - Best No-Fee Card
Nuri is one of the first services that allowed European citizens to trade cryptocurrencies through their bank accounts. The best part about Nuri is that it has no issuance or monthly fee. Moreover, it also has advanced security features. However, it’s only available in Europe and supports 2 cryptocurrencies.
Binance - Best for Cashback
This well-known bitcoin debit card provides the highest cashback on transactions, starting from 8% cashback. Moreover, it has no monthly fee and supports 30 cryptocurrencies, making it an impressive choice for people who want higher cashback.
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Is There an Actual Need for a Bitcoin Debit Card?
Well, it depends on you. If you invest in cryptocurrency regularly and use it to pay for products and services, you should consider getting a bitcoin debit card. However, if you don’t use cryptocurrency for shopping and just invest in it, then a regular debit card is acceptable for you too.
Advantages and Disadvantages of Having a Bitcoin Debit Card
We’ve already mentioned some advantages of having a bitcoin debit card, but let’s have an in-depth discussion on the pros and cons of owning a bitcoin debit card.
Scroll down to read why you should have a bitcoin debit card.
• You can do cryptocurrency transactions even at organizations that don’t support bitcoin.
• Most Bitcoin debit cards offer cashback, which means that you earn a lot in cryptocurrency.
• Moreover, most debit cards support multiple cryptocurrencies, creating more opportunities for investing in more than one cryptocurrency.
• Many bitcoin debit cards have security features that protect your cryptocurrency account.
Here are some disadvantages of owning a bitcoin debit card.
• Many debit cards charge a hefty issuance, monthly, transaction, and ATM withdrawal fees.
• Some bitcoin debit cards are only available in specific countries of the world.
• Cryptocurrency is highly volatile and more unreliable than fiat currency, which defeats the purpose of getting a Bitcoin debit card.
What Should You Look for in a Bitcoin Debit Card?
We have already picked our list of the best bitcoin debit cards. However, you may choose a different debit card based on your needs. No matter what debit card you choose, here are some features that it must have.
Almost all bitcoin debit cards charge money for debit card issuance, cryptocurrency transactions, and ATM withdrawal. But, you should choose a bitcoin debit card that charges as little as possible.
Another feature that you should never compromise on is bitcoin debit card rewards. Some debit cards give cashback on transactions in cryptocurrency, and you should select a bitcoin debit card with the highest cashback and other perks. Moreover, other debit cards also give perks like free Spotify membership or no ATM withdrawal fee. Getting lots of rewards can motivate you to invest in cryptocurrency further.
Many Supported Cryptocurrencies
If you’re someone who always looks for opportunities to invest in new cryptocurrencies, you should select a bitcoin debit card that supports the most number of cryptocurrencies. Avoid selecting a debit card that supports 1 or 2 cryptocurrencies.
Should Be Available in Your Country
Many bitcoin debit cards work for people in a specific region only, while other countries have banned them. It’s essential to select a bitcoin debit card that can work where you reside.
How to Apply for a Bitcoin Debit Card?
After you have decided which bitcoin debit card you’ll select, now comes the important process of applying for that debit card. Follow these steps to receive the debit card you want.
• Create a Bitcoin wallet
• Buy bitcoin through a reliable source
• Apply for the card and verify your identity using the Know Your Customer verification
• Connect the card to a wallet and use bitcoin to fund the card
• Wait for debit card approval before using the card for transactions.
Here’s How a Bitcoin Debit Card Works
Just like prepaid debit cards, bitcoin debit cards are also prepaid. However, instead of traditional currency, the owners load them with cryptocurrency. The users can then use the debit cards for online transactions and purchasing. Moreover, these cards also convert bitcoin to real-life currency for businesses that don’t accept payments in cryptocurrency.
You can also withdraw cash from ATMs using a bitcoin debit card.
Security Features of a Bitcoin Debit Card
Many people refuse to use bitcoin debit cards as they don’t know whether they are secure. However, the truth is that most bitcoin debit cards use advanced security features to ensure that every transaction happens safely. These security features include biometric verification, mobile code verification, and two-factor authentication. Users can also freeze or block their bitcoin debit cards immediately if they sense any security threat.
For this review, we researched the features of around 12+ bitcoin debit cards. While price and security were the most critical factors in our ranking list, this list contains cards that allow you to make bitcoin transactions easily. Moreover, we also included cards that offer perks like high cashback to create a well-balanced list where there's a right bitcoin debit card for everyone.
Do you want to apply for a Bitcoin debit card too? Make money online with Bitcoin today! At Urban Crypto, our guide to cryptocurrency trading for beginners allows you to make enough profit to get the debit card of your choice.
Visit our website today and read our guides to get started with coinbase before applying for a debit card!
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