Wondering what the most popular Bitcoin debit cards available in 2021? This article talks about the top Bitcoin debit cards that can let you spend cryptocurrency.
Table of Contents
- What are Bitcoin Debit Cards?
- Popular Bitcoin Debit Cards You Should Know
- Concluding Lines
What are Bitcoin Debit Cards?
Bitcoin is now over 12 years old, and since then, it has seen several ups and downs. Although its journey has been tough throughout, the digital currency continues to remain under the limelight, reaching an all-time high of over $60K. Despite such price rise, the prospect of buying digital assets remains daunting, especially for beginners. But yes, the introduction and availability of user-friendly crypto debit cards simplify the process to a large extent.
Bitcoin debit cards allow people to spend money anywhere debit cards are accepted. Such cards aim to transform financial services while introducing major improvements in transaction speed, security, and privacy.
Instead of exchanging BTCs into local currencies, debit cardholders preload their card with a set amount of cryptocurrency, which is automatically converted at the purchase time.
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Popular Bitcoin Debit Cards You Should Know
Introduced back in 2012, Coinbase is one of the leading mainstream cryptocurrency exchanges all across the globe. Launched by the same name, the Coinbase Card allows cardholders to spend digital cryptocurrency anywhere where Visa is accepted. Users can use this card to make online and in-store payments and also for ATM withdrawals.
This debit card supports several currencies, including the three most popular cryptocurrencies Bitcoin, Ethereum, and Litecoin. The card automatically converts your favored digital currency in your Coinbase wallet on-demand, so users don’t need to keep a fiat currency balance in their account. One of the major benefits of using this card is that it offers several security features, such as a mobile wallet app, two-factor identification, immediate card freeze, spending tracking, etc.
Here it is important to note that if you want to get started with this debit card, all you have to do is to make a Coinbase account. The only drawback associated with this is that it charges excessive fees.
Based in the U.K. with offices in North America, Asia, and Eastern Europe, the multi-currency Visa card makes spending your crypto a breeze. It allows users to switch between digital assets and fiat currency at OTC and interbank rates. The card supports 19 cryptocurrencies and nearly a dozen fiat currencies. The best part is that cardholders pay no issuance, monthly, or withdrawal fees, and just a 1% fee to fund accounts with digital currencies.
If you want to avail the best benefits of this card, all you have to do is to maintain a balance of staked native tokens called ‘WXT.’ It is known for being user-friendly, its real-time point of sale conversions, fee-less exchanges, and most excitingly allowing approximately 1.5% bitcoin rewards on all purchases.
Similar to the Coinbase debit card, the Binance Card holds digital currency in the user’s wallet and converts when needed at the time of purchase. All you have to do is simply top-up your card with funds in Bitcoin or BNB through the Binance Card App. Such debit cards can be used in-store, and for making online purchases anywhere, Visa is accepted. It is user-friendly and is as simple as transferring BNB from one wallet to the other. The debit card will then use this Balance for your card payments and deduct all expenses whenever payment occurs, making the process much simpler. The only drawback with this card is that it is restricted only in the region of Europe, and you need to maintain balance in Binance’s cryptocurrency for cashback rewards. The major benefits of using this card include:
- Upto 8% cashback
- No monthly fees
- Free Card
- Convert crypto on demand
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This card supports six major cryptocurrencies, including Bitcoin and Ethereum, along with eight diverse fiat currencies and is available in almost 50 states. Like other cards, this card can also be used anywhere MasterCard is accepted and withdraw cash from MasterCard-supported ATMs. The best part about this card is that it charges no transaction fees for purchases made within the U.S. but does charge upto 3% to cardholders traveling abroad. In addition, another advantage is that it charges no conversion fee to load the card; however, miner fees may apply. It has higher transaction and balances limits, allowing people to load or spend up to $10,000 in a day. The major drawbacks with this card are that it demands a $10 card issue fee, 3% foreign transaction fee, and demands monthly inactivity fee after 90 days.
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Bitcoin debit cards create a seamless transition from cryptocurrency conversion to purchase or withdrawal and come with several security features such as two-factor authentication, biometric scanning, and mobile codes. Apart from the cards mentioned above, there are several other options available such as BlockCard, BlockFi, Nexo Card, and many others, each having its own perks and drawbacks.
With so many choices available, which do you prefer? Let us know in the comment section below.