Bitcoin has taken investors on a wild ride over the last few years. At the start of 2020, the value of a single coin was less than $10,000. But it surpassed $60,000 by the end of 2021, with dramatic lows in between.
Bitcoin debit cards (also known as crypto debit cards) function similarly to prepaid debit cards. They can be filled with cryptocurrency and used to make online and in-store payments from merchants that do not accept cryptocurrencies.
This is where a Bitcoin credit or debit card comes in handy. These cards can make Bitcoin management more manageable, especially when it comes to spending it on everyday purchases. The number of entrepreneurs who accept Bitcoin is constantly growing. However, you still can’t purchase everything with Bitcoin.
These cards are becoming increasingly popular as they bridge the gap between the traditional finance world and the cryptocurrency ecosystem. This article will discuss the top 10 Bitcoin debit cards available in 2022. We will compare features and ease of use to help you figure out which card is right for you!
The Best Bitcoin Debit Cards of 2022
When choosing the best Bitcoin debit card for you, consider these factors:
- Costs: Some cards have annual or monthly fees, while others do not. Ensure you compare the costs of different cards before making a decision.
- Fees: Most cards will charge a fee for each transaction. These fees can vary depending on the card, so comparing them before purchasing is essential.
- Ease of use: Some cards are easier to use than others. Consider if you want a card linked to your existing bank account or a standalone one.
- Rewards: Some cards offer rewards for using them, such as cashback or points. If this is important to you, make sure to compare the rewards programs of different cards.
The following are the top ten Bitcoin debit cards of 2022:
1. BitPay Card
Pros and Cons
|Available in U.S 50 statesUsed worldwideNo transaction fees within the U.SSupports hardware wallets like Kraken, Trezor and Metamask||You must have a Social Security number and a driver’s license to apply.It is not possible to ship a card to a P.O. Box.High transaction fees in other countries|
If you want the convenience of loading your crypto debit card from multiple funding sources, the BitPay card may be a good option.
BitPay, a Bitcoin payment processor, launched a debit card available only in the United States in 2016. With support for significant currencies, no exchange fees in the United States, and a large maximum account balance, our pick as the best for Americans.
The BitPay card accepts seven significant cryptocurrencies, including Bitcoin and Ethereum, and eight different fiat currencies. You can use the card globally as long as Mastercard Prepaid cards are accepted.
You can also withdraw cash from ATMs that accept Mastercard. BitPay now accepts Apple Pay and has introduced a new virtual card option for those who do not want or require a physical card.
You can use the BitPay app, multiple BTC, BCH, and ETH wallets, or hardware wallets like MetaMask and Trezor to fund the card.
BitPay does not charge trading fees for purchases made within the United States but charges cardholders visiting other countries 3% to cover the cost of currency conversion. A $2.50 fee is also charged to withdraw cash from an ATM. Finally, Bitpay doesn’t charge a conversion fee when you load the card, but network and miner fees may apply.
The BitPay card has relatively high transaction and balance limits than other cryptocurrency cards, enabling cardholders to load up to $10,000 per day. Users can also make three $2,000 ATM transactions per day and keep a max balance of $25,000.
BitPay advertises the following security features to protect its customers:
- Needs a signature on the back of the card, and a PIN Card
- Equipped with an EMV chip designed to prevent fraud.
- Mastercard offers zero-liability protection.
2. Coinbase Card
Pros and Cons
|The ability to use your cryptocurrency account as quickly as you do your bank accountExtensive security features keep your crypto safe while you spend it.Several reward options are available, including the ability to earn BTC back on your purchases.There is no card issuance fee.There is no annual fee.Fully functional and user-friendly mobile app for managing your card and account.||All transactions are subject to a 2.49 percent cryptocurrency liquidation fee (except those using USDC)Coinbase account needed|
Coinbase has offered crypto debit cards to customers in the United Kingdom and the European Union for years. It brought a convenient option to consumers in the United States in the past few months. The Coinbase debit card in the United States has lower fees, higher rewards, and more supported cryptocurrencies.
The Coinbase Card accepts nine cryptocurrencies, including Bitcoin, Litecoin, and Ethereum, and cardholders must have a Coinbase account. The card converts your preferred cryptocurrency in your Coinbase wallet on-demand, eliminating the need to maintain a fiat currency balance in your account.
The Coinbase Card includes a mobile wallet app, two-factor identification, instant card freeze, expenditure tracking, and other security and convenience features. Cardholders can employ their card to make online and in-store purchases and withdraw cash from any Visa-accepted ATM worldwide.
Residents of the United Kingdom and Europe must pay a £4.95 or €4.95 authorization fee for a Coinbase Card, whereas residents of the United States can get the card for free. Coinbase also levies fees, including a 2.49 percent cryptocurrency liquidation fee.
When it comes to user-friendly and security features, the Coinbase debit card outperforms its competitors. It’s among the few that lets you switch between crypto wallets and offers some of the most robust security features, all from its mobile app.
3. Wirex Card
Pros and Cons
|Possess a UK FCA e-money license.Quick confirmation (less than 5 mins).Purchase and sell Bitcoin (BTC) and over 50 other cryptocurrencies without paying exorbitant fees (2.5 percent ).Browser-based and mobile applications (iOS & Android).There is no monthly account maintenance fee.Customer service is available 24/7||Some countries have a limited number of cryptocurrencies available (just 9 in the U.K.).To get the highest cashback rates, you’ll need to pay £29.99 per month.|
Wirex has more than 4.5 million users in 130 countries. They reported processing more than $5 billion in transactions in July 2020.
The Wirex card accepts 150+ authentic and fiat currencies and a dozen fiat currencies in Europe, a few Pacific and Asian countries, and the United States. Cardholders pay no withdrawal, monthly, or issuance fees but only a 1% fee to finance accounts with cryptocurrencies.
The Wirex card offers cash back rewards of up to 2% in cryptocurrency. Standard delivery is free, and there are no fees for card maintenance or reissue. Wirex Visa provides free ATM withdrawals of up to $300 per month.
4. Binance Card
Pros and Cons
|There are no issuance or monthly fees.On-demand cryptocurrency conversion||Cashback rewards require a balance in Binance’s cryptocurrency.Only available in European countries|
Binance partnered with Swipe in 2020 to offer a Visa debit card that offers 8% cashback, making it our pick for the best cashback card.
The Binance Visa Card has no issuance or monthly fees, and it only charges a transaction fee of up to 0.9 percent for transactions and ATM withdrawals. You should note that ATM operators may charge an additional fee.
The Binance Visa Card, like Coinbase, stores cryptocurrency in your wallet and only converts what you require at the time of purchase. You can use the card to buy things in-store, and online anywhere Visa is accepted.
The card accepts Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Binance USD, and Swipe’s SXP token is its stablecoin (BUSD).
Although the cashback rate on the Binance Visa Card is the highest we’ve seen, there is a catch. Cardholders must have a minimum balance of 600 Binance Coins (BNB) to receive their cashback reward in BNB.
5. Crypto.com Card
Pros and Cons
|Quick verification (less than 5 minutes).Customer service is available 24/7It is completely free to open a Crypto.com account.There is no monthly maintenance fee for the Crypto.com Visa Card. When you use your Crypto.com Visa Card, you can earn up to 8% cashback.||To obtain the highest rebates, you must stake a large CRO.Crypto Earn offers lower interest rates if you do not lock in your cryptocurrency deposit for three months.|
With the Crypto.com Visa Card, you can spend your cryptocurrency in-store and online. It is accepted anywhere Visa is accepted.
There is a variety of Crypto.com Visa Cards to choose from. To receive the highest cashback and other benefits, you must stake CRO in the Crypto.com app. The more CROs you secure, the higher the tier of card you’ll be able to order.
Most people cannot afford the Crypto.com Visa Cards that offer the highest cashback. To get the Obsidian Black version, you’ll need to lock up $400,000 in Crypto.com Coin (CRO) in the Crypto.com app.
The versions that require a lower CRO stake, on the other hand, still provide you with competitive cashback on all of your spending. If you’re willing to stake the equivalent of $400, you’ll be able to get the Ruby Steel version, which offers 2% cash back and a 100% Spotify rebate.