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Best Cryptocards in 2020

Crypto cards

July 10, 2020 | 

JOHN K MWANIKI |  1 Comments| 

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While the interest in cryptocurrency is gaining momentum, only a few merchants accept cryptos directly as a means of payment. In fact, the search for mass adoption has been the main goal among stakeholders in the crypto ecosystem.

Thankfully, Cryptocards might be the best way to bridge the gap between digital currencies and fiat systems

So, if you are a long term holder of Bitcoin and looking to spend your profit, or you just want to switch to crypto fully, then Crypto-powered cards offer an opportunity to spend your crypto holdings.

These cards work exactly like your regular debit card, only that you have the added advantage of loading it with crypt instead of fiat. 

Once loaded, you can use the card the same way you would with any credit or debit card. In other words, you can spend your cryptos while on the go. Of course, there is a cost associated with this convenience. Most cards will charge you a small fee when you make a transaction.

If you are fascinated by this new wave, here are the best Cryptocards for 2020.

1. MCO Visa Card (Crypto.com)

Most of the cards for US consumers only support USD, but Crypto.com cards support several other major currencies, such as EUR, SDG, and GBP. Moreover, they don't charge a conversion fee for amounts below $2,000.

Keep in mind that you can only load Crypto.com cards with ETH, BTC, XRP, and LTC. The good thing is that you can convert other cryptocurrencies into any of these supported cryptos.

Another distinguishing feature of Crypto.com cards is that they support direct fiat deposits. This will come in handy if you are planning to use the card with your fiat holdings. On top of this, Crypto.com will give you up to 5% cashback for transactions you made with the card. 

2. Cryptopay

Cryptopay is a wallet and payment system where consumers and merchants transact with each other. Now Cryptopay issues Bitcoin cards, which can be used worldwide. People love these cards because they charge a low commission and can be obtained without a hassle.

Cryptopay usually delivers the card free of charge no matter where you are in this world. Cryptopay issues both virtual and physical cards. 

To apply for a Cryptopay debit card, you only provide name and email address. After registration, the company will deliver it to you within 3 - 10 days. From here, you can load your card in USD, GBP, and EUR. It supports BCT, LTC, ETH, and XRP.

Since the Cryptocard is a Visa, you can use it anywhere Visa cards are accepted.

3. Nexo  

Nexo was one of the first crypto firms to create a crypto-backed loan platform. The platform is super easy to use. If you are looking to spend your holdings, then they will offer you a free Nero MasterCard.

Nexo cards allow you to take out a credit line without selling the crypto assets. Usually, the credit is underwritten by your digital assets.

The amount of credit you are given is equivalent to the amount credited to your Nero Wallet. This wallet accepts over 20 cryptocurrencies, including BCT, ETH, EOS, LTC, BCH, Stellar, XRP, and NEO.

Another benefit of using a Nero payment card is that it gives you instant cashback on your purchases.

4. Wirex

Wirex Cryptocard is available in several EU countries, the UK, and Singapore. The card will soon be available in the US. Wirex debit card supports EUR, USD, and GBP and is available in virtual and physical cards.

While they charge a £1.00 / €1.20 / $1.50 fee to manage the card, it is free to set up your card account. And if you transact with a Wirex card, you will get back 0.5% of the amount spent. You can load your Wirex card with ETH, BTC, LTC, XRP, and waves. 

Perhaps, its greatest value is the ability to buy Bitcoin affordably in the UK using this card. Most cards usually charge over a 4% fee to purchase cryptocurrencies with a debit card, but Wirex will only charge you 1%.   

5. Coinbase Card

Coinbase customers can use Coinbase debit cards to spend their crypto holdings. The Bitcoin card is only available in physical form for EU customers. If you already have a Coinbase crypto account, your Coinbase Visa card will be linked to your account. 

You can spend any cryptocurrency balances on your account, be it BCT, ETH, LTC, BAT, or BCH. Likewise, you can load the card with EUR and GBP fiat currencies. In terms of fees, the Coinbase debit card has no monthly maintenance fee but charges a one-time £4.95 issuance fee.  

As you would expect, the card is functional anywhere that accepts Visa payments. It also means that you can use the card to withdraw cash on ATMs. ATM withdrawal limit is £500, and it is free for amounts less than £200.

6. Revolut

UK digital bank Revolute introduced debit cards that allow users to hold and exchange crypto. These cards are ideal for individuals who do a lot of overseas travelling. It is unique from other cards listed here, as it supports over 150 currencies.

The Revolute debit care is free, but if you spend more than $5,000 in a month, then a 0.5% fee is applicable. It also offers 1% cashback for all purchases made with it. On top of this, Revolve allows its clients to access their cryptos in five major currencies: ETH, BCT, BCH, LTC, and XRP. 

7. TenX

Unlike most of the Cryptocards in this list, TenX debit cards are available for crypto holders in the Asia Pacific Region. Still, they can use these cards anywhere that accept Visa payments. The company expects to extend these cards to users in the EU and the US.

TenX cards cost $15 (physical) and $1.5 (virtual) with an annual maintenance fee of $10 for users who spend less than $1000 a year. Cardholders can make payments in BTC, LTC, and ETH.  

Wrap

Cryptocards are a valuable possession for any cryptocurrency enthusiast, as they allow you to do most of the transactions you would with your ordinary debit card. Your choice of Cryptocard will likely be influenced by the cryptocurrencies it supports, security, jurisdiction it serves, and applicable charges and rewards. 

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Helena Carter
Wow! Thank you for that information. Especially with regard to information about kashback.

0     Reply    3 months ago from: Russia

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