Bitwala’s VISA debit card is the most affordable bitcoin debit card on the market, both in terms of card price and the lowest, transparent fees that follow card usage. The Bitwala debit cards are issued in both physical and virtual forms and costs € May 06, · The MCO Visa debit card provides a service best suited to serious cryptocurrency enthusiasts and incorporates an extensive range of card options, Unsurprisingly, the best Bitcoin debit card option very much depends on each person’s individual requirements, and cost, location, and supported currencies are important factors to consider. Best Bitcoin Card – a Crypto Currency Debit Card Comparison. Bitcoin is the internet of money – and with a Bitcoin Debit Card, you can pay anywhere on this planet where Credit- or Debit Cards are accepted with the Crypto Currency of your choice. Together with your Bitcoin Wallet, you can replace about 95% of all services a normal Bank can.
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One of the best-known Bitcoin debit cards comes from Revolut. Revolut is currently unavailable in the United States, but the company has opened up a waitlist for US customers, since the platform will be launching stateside later this year. Currently, three different account types are available on the website: Standard, Premium and Metal. All plans include a free current account and IBAN account and allow you to spend cryptocurrencies in over countries worldwide at the interbank exchange rate.
Accounts can be managed via the free Revolut app. Currently, Revolut allows users to buy Bitcoin and four additional cryptocurrencies right through the Revolut card.
For this service, Revolut adds a 1. Crypto balances can be transferred to other Revolut users free of charge, and can be converted back into fiat currency to be spent using the Revolut card — this process is not automatic. Last, but certainly, not least is the SpectroCoin prepaid card, available for customers in almost countries. Besides its prepaid card, SpectroCoin also offer a variety of other services, including an online wallet and exchange platform.
SpectroCoin prepaid cards are funded using cryptocurrencies, which are automatically converted to fiat currencies when paying in-store or online. This process is automated if your funds are stored in your SpectroCoin web wallet, but must be set up first. Overall, the SpectroCoin prepaid cards are best suited to cryptocurrency users looking for convenience and high transfer limits, albeit at the cost of general functionality. After exploding onto the scene in , Bitcoin quickly became a global phenomenon, thanks to its cheap and secure capacity to transmit value between people in just minutes.
However, despite the enormous popularity of Bitcoin during this time, BTC suffered from major liquidity issues, with it being both time-consuming and expensive to use BTC to pay for goods and services. In order to solve this liquidity problem, several innovative companies took it upon themselves to bridge the gap between the cryptocurrency and traditional markets by bringing to market a Bitcoin debit card.
The first of these Bitcoin debit cards was released by Xapo in and allowed users to spend their Bitcoins just like cash at any online or offline merchant that accepts Visa. At the time, the Xapo debit card was heralded as the final piece of the puzzle needed to bring Bitcoin to the mainstream. Since then, over a dozen companies have launched their own Bitcoin debit card, and further improved on the usability and functionality offered by first-generation cards, many of which include features such as contactless payments, automated billing and even cashback.
For the most part, Bitcoin debit cards allow customers to easily liquidate their BTC to fiat currency, which can then be spent in-store or online.
The way this is achieved usually varies from brand to brand, but can be either automatically converted upon deposit, or manually converted as and when needed, usually via an associated app. Despite the benefits, Bitcoin debit cards have had their fair share of issues over the years. Most prominently, companies that issued their Bitcoin debit cards via Wavecrest were forced to either shut down or suspend services as the payment provider had its Visa license revoked.
If you are one of the increasing numbers of cryptocurrency enthusiasts looking to reduce or eliminate your reliance on centralized banks, then Bitcoin debit cards may just be the solution you are looking for. Bitcoin debit cards enable you to easily spend your crypto, without having to go through cryptocurrency exchanges and banks. In many countries, access to financial infrastructure is severely limited, which is why Bitcoin is particularly popular in less economically developed countries.
With the advent of Bitcoin debit cards, people in these countries can access previously unavailable services for the first time. These Bitcoin debit cards provide users a way to easily convert Bitcoin, and often other cryptocurrencies into fiat currencies, which can then be spent in-store or online at anywhere displaying the Visa symbol.
Like many standard debit cards, some Bitcoin debit cards now offer cashback options, allowing you to earn rewards on your purchases, which can amount to a significant sum if you use your debit card regularly. In addition, many Bitcoin debit cards allow you to store several fiat currencies in separate accounts, allowing you to shop internationally without being lumbered with excessive currency conversion fees.
This benefit also applies to cash withdrawals, helping you to withdraw a variety of different currencies without requiring a currency conversion. Several Bitcoin debit cards are available in a virtual form, meaning there is no physical debit card to carry around.
These virtual accounts offer a level of freedom and flexibility simply not possible with a physical card, allowing you to manage your money wherever you are, typically via a mobile app. Finally, if you are somebody who likes to travel regularly, several Bitcoin debit cards include travel insurance and fraud protection, keeping you safe while abroad, while the as-and-when approach to currency conversion protects you against volatile local currencies.
Although we have noted just some of the myriad benefits of Bitcoin debit cards, we should point out that the industry is growing at a rapid pace, with new products and services launched on a regular basis, further improving the value of these cards. Before buying a Bitcoin debit card, there are a few things that you need to keep in mind. See below for an outline of the key characteristics that we watch when reviewing a crypto debit card.
When it comes to selecting the best Bitcoin debit card for you, you should undoubtedly be looking only at options offered by established companies with a history of trust. Unfortunately, since the Bitcoin debit card industry is fraught with stories of Bitcoin debit cards shutting down rather suddenly, it is important to ensure you are dealing with a company that knows what it is doing.
We hope to add additional countries in the future. What rewards will I earn with the Fold Card? Fold Card rewards are awarded in satoshis, a unit of bitcoin like cents are for dollars. You earn rewards in lots of ways, including spinning our spinwheel after each purchase.
Take a look at our current spinwheel. How do I sign up for a Fold Card? The Fold Card is currently in beta. Join the waitlist to be contacted when we're letting more people into the beta group!
Refer others to the waitlist to move up the waitlist and to be able to sign up for your own Fold card sooner. What are the requirements to get a Fold Card? Signing up for a Fold Card does not require a credit check. Currently, the Fold Card is only available to US residents.
To activate the Card Account, you will be required to provide your name, street address, date of birth and other information that will allow us to identify you. How do I fund my Fold Card?
You fund your Fold Card by transferring money from an existing personal bank account or by getting your paycheck straight on the Fold Card through direct deposit. What fees are associated with the Fold Card? Fold will not charge you hidden bank fees associated with your account! Click here to see our full list of fees. How long does it take to get my Fold Card? Good news! You can start using your virtual card immediately. This allows you to shop online. You may also add your card to your Apple Wallet or Google Wallet, to shop in-store wherever those are accepted.
Anonymous bitcoin debit card holder should be aware of this limitation. Choose Provider 2: Cryptopay. Choose Provider 3: Bitplastic. Benefits and challanges for bitcoin debit card holders VISA does not charge its cardholders directly with fees.