To make the world better integrated with cryptocurrencies like Bitcoin as its cash flow mechanism, Bitcoin Debit Card come into the picture.
They are similar to our usual debit cards, but they are managed by the provider of cryptocurrency platforms rather than centralized banks.
But how does the debit card work? Should you be interested in getting one for yourself?
Where can you get one for yourself, and which is the best Bitcoin Debit Card of 2021? Let’s find out.
How do Bitcoin Debit Cards work?
With a Bitcoin debit card, you have to create an account with a card provider. Then after logging into your main funding platform, you select which cryptocurrency you wish to deposit. In this case, it will be Bitcoin. You then order a debit card.
Once the debit card arrives, you can then use it at any supported outlets. Each time you use the card, the fiat value of the purchase you want to make will be deducted and liquidated from your account at the time of the purchase.
Thus, this makes it convenient to use cryptocurrency to pay at grocery stores, shopping malls, etc., wherever VISA is supported.
Top 5 Bitcoin Debit Cards of 2021
Now that you have understood what a Bitcoin debit card is and how it works let’s discuss which options are the best in 2021.
Coinbase is one of the biggest cryptocurrency exchanges globally by volume, and its Bitcoin Debit card is not far behind in terms of the best Bitcoin Debit cards of 2021.
You can switch between spending BTC, ETH, LTC, BCH, XRP, BAT, REP, ZRX, and XLM cryptocurrencies with just a click of a button.
Thus, liquidating any of these cryptocurrencies is easier with Coinbase Card. It is directly connected to your Coinbase account balance.
The limits on it are pretty flexible and intuitive too. You can spend up to £10,000 / 10,000 € per day.
The withdrawal limit from ATM is up to £500 / 500 € from ATM a day, and the yearly purchase limit is over £100,000 / 100.000 €. Pretty cool, huh?
Wirex is one of the most popular Bitcoin debit card choices for cryptocurrency enthusiasts living in European countries. Its platform has digital and traditional currency wallets.
Wirex supports cryptocurrencies like BTC, ETH, XRP, XLM, LTC, DAI, NANO, and WAVES. GBP, EUR, and USD are the supported fiat currencies.
It provides different wallets for each cryptocurrency and allows you to order a card in either EUR, GBP, or USD.
Wirex charges a small fee of around £1.00/€1.20/$1.50 each month for card management. Wirex is also transparent with the transaction and other fees.
There is a purchase limit of €8000/$10,000/£7500 for purchases made using the Debit card. ATM withdrawals are limited to €250/$250/£250 per day, while there is also a transfer limit of 10 BTC per day.
Credit and debit card top-ups are limited to €5,000/$5,000/£5,000 per day. Users must also stick to a maximum card balance of €16k/$20k£15k.
Paycent offers high-limit physical and virtual cards. The virtual card is primarily for online shopping, while the physical card is for converting and withdrawing cryptocurrencies through ATMs.
Paycent delivers physical cards worldwide via courier once you pay a $49 shipping fee. The virtual card has no such requirement, although you need to make a $25 initial deposit.
There are different tiers of debit cards, mainly RUBY, SAPPHIRE, and SOLITAIRE. The RUBY tier has the lowest fees and limits as follows:
When loading the card with a fiat currency, the Paycent platform charges 1.5% of the top-up amount. It also charges a transaction fee of $0.20 for purchases using the card and a flat fee of $3.50 is applied for both domestic and international ATM withdrawals.
Simply put, Paycent cards are Unionpay Bitcoin debit cards that allow users to cash out cryptocurrencies through an ATM anytime worldwide, as well as make payments through virtual cards. We are impressed!
Being one of the first original Bitcoin debit card providers, the platform still provides some of the most popular Bitcoin merchant services. It also provides a personal MasterCard that will let you turn Bitcoin into dollars.
There is an issuance fee of $10 with no monthly fees. The Bitpay platform does issue an inactivity fee of $5.00 per month after 90 days of no transactions. A 3% currency conversion fee also applies.
Users can withdraw cash through ATM three times a day with a limit of $2,000, with a $2 ($3 outside the US) withdrawal fee applicable.
The total daily spending limit is $10,000. There is a card-to-card transfer limit of $500 per day and a maximum card balance of $25,000.
Bitpay only services people residing in the US currently and does not have any intuitive cashback or offers. But it is a pretty robust and straightforward option for a no-nonsense crypto enthusiast.
Crypto.com debit card formerly known as MCO debit card is a high reward Bitcoin debit card available for users within Singapore, the EU, and the US with cashback programs for many sites and platforms.
Buying and committing CRO tokens for the next six months is all you have to do to get an MCO Bitcoin debit card.
There is no maintenance or issuance fee. After the 6-month period ends, you can unlock your stake and transfer the tokens to your wallet.
Crypto.com is an exciting option for anyone interested in using a wide range of currencies and taking part in staking. It is suited to people looking to travel frequently and using the cashback programs on travel and ticket booking sites.
The fees and limits on the card vary within five variants, and there’s a different requirement for stakes.
From intuitive cashback to robust, no-nonsense platforms, each of the Bitcoin Debit cards mentioned here has varying advantages.
What’s best for you depends on your requirements, eligibility, your use case, and what you prefer- more cashback or reliability!
I hope this article helps you and if you have any queries related to it then do leave your comment below. If you have not joined our community then you can now. We are very active there and have been sharing important information there.
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