As a seasoned crypto investor with a few years under my belt, I’ve seen the rise and fall of numerous crypto projects and debit cards. Having gone through the process of evaluating and using several crypto debit cards myself, I can confidently share my perspective on the top 5 crypto debit cards in 2024 and what sets them apart.
In the world of cryptocurrencies, debit cards have become extremely popular due to their convenience and accessibility to everyday goods and services. With an increasing number of options available in this competitive market, selecting the most suitable one can be a challenging task. Let’s explore the top-notch debit card for cryptocurrency users in 2024.
Table of Contents
top 5 crypto debit cards 2024 and how to choose
Before we get into the details of each card, let’s explore how to choose the best card for you.
Here are the main factors people tend to consider when choosing a crypto debit card:
- Supported cryptos
- Fees
- Rewards
- Jurisdiction and usability
- Regulatory compliance
- Other features
For those drawn to crypto cards, the appeal goes beyond just preferring to use cryptocurrency over fiat currency for ideological reasons. Instead, the main allure lies in the potential benefits of earning above-average cashback or gaining access to staking rewards with these cards.
As a crypto investor, I’d like to emphasize that the highest tiers of cashback on crypto cards are typically designed for large-scale investors, who stake significant amounts in the platform’s native and volatile cryptocurrency, often reaching into the millions. Realistically, one can expect cashback rewards ranging from a minimum of 0.1% up to 2%.
The average fee for converting crypto to fiat and loading it on a crypto card is around 1.5% – 2%.
As a crypto investor, I’m always on the lookout for ways to maximize my returns, even with more modest investments. In this comparison of crypto debit cards, I’ll be focusing on rewards and perks designed for smaller stakes. Additionally, I won’t forget to consider each company’s reputation within the industry and their level of regulatory compliance. This approach ensures that I make informed decisions while minimizing potential risks in my investment journey.
1. Nexo
Among the crypto debit cards listed, Nexo stands out as our preferred choice due to its comprehensive platform. Users can enjoy various perks through rewards programs and have access to lending facilities.
As a crypto investor, I can earn cashback ranging from 0.5% to 2% on my investments, with the highest cashback reward being granted when 10% of my portfolio is allocated to NEXO tokens.
Users have the option to create lines of credit using USDT and earn attractive annual percentage yields, exceeding 10%. However, it’s important to note that this process involves certain complexities and necessitates careful handling by the user. Transactions within the domestic system and card issuance come with no charges. Nexo operates exclusively in the EU and is subject to EU regulations. It accepts seven fiat currencies, including the Euro, and over forty cryptocurrencies.
2. Holyheld
Holyheld is a user-friendly crypto debit card solution, accessible only in the EU. It rewards users with cashback ranging from 0.5% to 1% on every transaction. The versatile card accommodates various cryptocurrencies and fiat currencies such as EUR and USD, enabling seamless global transactions.
In every month, the initial 100 transactions – be they domestic or international – come without charge. Subsequently, Holyheld imposes a fee of 2% plus 1 EUR for each transaction until the monthly limit is reached once more. ATM withdrawals also remain free, but only up to a certain amount. Holyheld operates under the regulatory oversight of the FCIS in Lithuania and adheres to EU legal frameworks.
Mastercard accepts this card, enabling users to include it in their Apple Pay and Google Pay digital wallets.
3. Bybit
As an analyst, I would rephrase it as follows: Bybit grants me approximately 2% cashback on my trades. However, if I want to reach the maximum 10% cashback tier, I must wager substantial amounts of the platform’s currency and accept the associated risk of market volatility on my staked assets.
The cashback program comes with added complexities, providing various types of rewards such as bonus points, reduced fees, airdrops, non-fungible tokens (NFTs), and others. Therefore, it’s essential to note that earning cashback isn’t always a simple 2% return on transactions.
As an analyst, I would rephrase the given text as follows: I don’t find the cashback offer particularly enticing, but this card has a major advantage – it is accepted worldwide through the Mastercard network without any maintenance fees. However, there are some fees to consider: ATM withdrawals incur a charge of 2%, and converting crypto through spending comes with a cost of 0.9%. This card supports eight different cryptocurrencies. Although Bybit is regulated, it has faced regulatory challenges; the French financial regulator AMF warned the company in February 2024 that its operations in France were not legally compliant.
4. Wirex
This card can accommodate around 58 different cryptocurrencies such as Bitcoin, Ethereum, Ripple, Tether, and USD Coin, in addition to several traditional currencies like Euro and Pound.
I serve as an analyst examining the financial landscape, and I’d like to highlight that Wirex is subjected to regulatory oversight from esteemed bodies such as the Financial Conduct Authority (FCA) in the United Kingdom and the Bank of Lithuania. These authoritative institutions ensure stringent compliance and security protocols are upheld. Additionally, being a Mastercard issuer expands its acceptance across the globe. Wirex levies a fee of 1% on every card transaction.
Users can earn a cashback of 1% from Wirex when they keep approximately $900 in WXT for a period of 180 days. Nevertheless, the maximum reward is limited to roughly $120 per month as of now.
To receive the advertised 8% cashback on the project website, you’ll need to invest approximately $45,000 worth of WXT. However, keep in mind that rewards come with limitations. The maximum cashback amount for a single transaction is around $54. Additionally, subscribing to Wirex’s Elite tier is necessary to qualify for these rewards within their intricate fee and subscription structure.
Unlike Nexo, Holyheld, and Bybit, Wirex is available in the US.
5. Crypto.com
With the Crypto.com card, you can easily use over 80 different cryptocurrencies plus traditional currencies like EUR, USD, and GBP for your transactions. The company applies a fee of 1% when you add funds to the card, while ATM withdrawals are free within certain monthly limits, which vary depending on your service tier (ranging from $200 to $400). Beyond these limits, a 2% charge will apply for ATM withdrawals.
As a crypto investor, I’ve come across a rewards credit card with varying staking requirements for cashback and other perks. These requirements span from $400 to an impressive $400,000 at the moment. This means that the anticipated cashback return for me would be roughly 1%, although technically it could reach up to 5%. This Visa-issued card is accessible in countries like the US, the UK, as well as many regions in Africa, Asia, the Middle East, and the EU. Furthermore, higher tiers of this card grant additional benefits such as airport lounge access.
With a transaction fee as low as 0.75%, this card is frequently regarded as one of the top crypto debit cards in the USA due to its affordability.
Frequently asked questions
How to get a crypto debit card?
Crypto debit cards are mainly obtained through the provider’s mobile application, involving Know Your Customer (KYC) procedures as anonymously issued, regulated cards don’t exist. To use one, you must first create an account and verify your identity by submitting a government-issued ID and proof of address. Once approved, you can request either a physical or virtual card for making transactions with cryptocurrencies.
What is the best crypto wallet with a debit card?
Each choice on this list comes equipped with a crypto debit card and a corresponding crypto wallet for storing your assets. All of these selections are regulated. To determine the optimal option for you based on cashback offers, the cryptocurrencies they support, and additional features, consider your specific needs and preferences.
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2024-06-21 15:43