5 Best Crypto Debit Cards in 2024
Looking for the best crypto debit card with cashback and other perks? We've rounded up the 5 best crypto debit cards to research in 2024
5 best crypto debit cards 2024
If you’ve decided you would like a crypto debit card, there are a lot of products to pick from - each offering different perks and fees. Some of the best crypto debit cards for 2024 to research include:
|1%+ top up fee, tiered foreign transaction fees
|Up to 5% cashback
|Up to 0.9% transaction fees
|Up to 8% cashback
|2.49% liquidation fee
|Up to 4% cashback
|3% foreign transaction fee, $2.50 ATM fee
|Up to 1.5% transaction fee
|Up to 8% cashback
Crypto.com Visa Card
The Crypto.com Visa Card supports 19 different cryptocurrencies and 20 fiat currencies! Crypto.com offers a variety of card tiers, with increasing levels of cashback depending on your CRO stake. You'll earn 1% in cashback with nothing staked, all the way up to 5% cashback for $400,000 staked. Other benefits for higher tier cards include free Netflix, Spotify, and Prime subscriptions, airport lounge access, and monthly vouchers for Airbnb and Expedia.
Crypto.com Card key features at a glance:
No annual fee
No need for a credit check
Attractive cashback offers for your spending
Tiered CRO cashback of up to 5%
High staking requirements for most card tiers
Free ATM withdrawals, although lower-tier cards come with limited monthly ATM withdrawal limits
Benefits for higher tier cards include airport lounge access, cashback rewards, subscription services like Prime and Netflix, and more
Read next: How is Staking Taxed?
Binance Visa Card
Binance also partnered with Visa to launch the Binance Visa Card. There is no issuance fee to get a Binance debit card and you’ll pay no monthly fees either. The news keeps on getting better because the transaction fees are a very low 0.9% and some transactions are free altogether. Binance also advertises an incredible 8% cashback - but it comes with a catch. You’ll need 600 BNB in your account, which is no small sum. At the time of writing just 1 BNB is priced at $200+.
Binance Card key features at a glance:
Supports 15 cryptocurrencies
Easy top-ups with no monthly fees or minimum balance requirements
Transaction fees of up to 9%
Cashback of up to 8% depending on BNB held
3D secure verification
Not available in the US (yet!)
Relatively low daily spending limits for ATM withdrawals and contactless transactions
Watch next: How to do your Binance Taxes fast with Koinly
Coinbase Crypto Card
Coinbase crypto card is a Visa debit card, funded by your Coinbase balance. You can use it in millions of locations around the world for PIN or contactless payments, as well as ATM withdrawals. The card supports 7 different popular cryptocurrencies including BTC, ETH, and LTC. US residents can get a Coinbase debit card for free, while European residents will need to pay a small issuance fee. When you spend, you’ll pay a 2.49% crypto liquidation fee, but you can also get up to 4% crypto cashback.
Coinbase Card key features at a glance:
No annual fee
Up to 4% cashback
No credit check required
No ATM fees
Apple and Google Pay compatible
Monthly spending limits
Available in all US states excluding Hawaii
Read next: How to do your Coinbase Taxes
BitPay Crypto Debit Card
The BitPay debit card is a Mastercard debit card, so you can spend it anywhere that accepts Mastercard. BitPay is an appealing option for US residents because you’ll pay no conversion fees in the US, though you will pay an ATM withdrawal fee of $2.50. Meanwhile, residents of other countries will pay a 3% transaction fee. BitPay supports 15 cryptocurrencies and 8 different fiat currencies.
BitPay Card key features at a glance:
Supports 15 popular cryptocurrencies
No annual or monthly fees
Only available in the US
1% deposit and $2.50 withdrawal fee
Relatively high conversion fee of 3% for international purchases
High maximum daily spending limit
3 ATM withdrawals per day
Please note, as at the time of writing, BitPay Card applications are paused.
Wirex Visa Card
Wirex supports 25 different cryptocurrencies with no issuance, monthly, or withdrawal fees for US residents. In fact, the only fee you'll pay is a 1% fee to fund accounts with crypto. The Wirex card also offers up to 2% cashback on crypto with no minimum balance necessary to earn rewards. Wirex also has an additional feature known as X-Accounts which lets users earn up to 10% interest on BTC and ETH.
Wirex Card key features at a glance:
No annual or monthly fees
1% crypto top-up fee
Free ATM withdrawals under $250
Only available in the US, excluding New York
Up to 8% cash back
Cashback is only available in X-Points, which can be converted to cryptocurrency
Relatively high conversion fees
What is a crypto debit card?
There are lots of reasons traditional retailers haven’t started accepting crypto - even BTC - as a means of payment just yet. Some common reasons include volatile exchange rates, the environmental impact, or even just not having a secure understanding of blockchain technology. Whatever the reason - the vast majority of stores haven't yet made crypto a payment method.
That’s where crypto credit cards and crypto debit cards come in as they solve this exact problem and let you spend your crypto at more stores than ever. Just like a regular debit card - you can use a crypto debit card to pay for goods and services, except instead of paying in dollars you’ll use crypto like BTC, ETH, LTC, and other altcoins.
Many crypto debit cards have been released in partnership with Visa and Mastercard - so anywhere that accepts Visa and Mastercard will now also accept crypto debit cards, giving you millions of places to shop.
How do crypto debit cards work?
When you open a crypto debit card - you’ll need to top it up with the cryptocurrency of your choosing. Once you’ve got funds in your crypto card account, you can use it just like you’d use any other debit card - to spend your crypto online or at a brick-and-mortar store.
When you want to use your crypto debit card, your card provider converts your digital currency into fiat currency to use in the transaction. The fees involved in liquidating your crypto assets vary, as well as fees for other transactions. Some charge no fees at all, some charge a range of fees depending on the transaction and some charge a monthly fee to own the debit card.
Read next: Will I be taxed for spending crypto?
Why use a crypto debit card?
So, why wouldn’t you just use a regular debit card if a crypto debit card works in the exact same way? Good question. Crypto debit cards come with a lot of pros.
Crypto debit card pros
Avoid exchange rates when traveling abroad.
Lower transaction fees and monthly maintenance fees.
Specific perks like crypto cashback.
Increased asset liquidity.
More advanced security measures to protect digital assets like 256-bit encryption, 24/7 fraud monitoring, and two-factor authentication.
Of course - nothing is without its flaws. Crypto debit cards also have some downsides.
Crypto debit card cons
Price volatility means that you may end up spending more of your crypto. For example, if you use ETH to buy a pizza and the price of ETH doubles the next week, you will have lost out on a lot of ETH. This works both ways though, so you may end up with a bargain depending on how the market goes.
Some crypto debit cards require you to stake crypto to unlock specific rewards.
Are crypto debit cards safe to use?
Yes. Crypto debit cards offer some of the best security features to protect your digital assets including 256-bit encryption, 24/7 fraud monitoring, and two-factor authentication. You’ll also need to complete KYC verification to get a crypto debit card to prevent fraud.
Where can I use a crypto debit card?
In general, you can use a crypto debit card anywhere you can use a Visa or Mastercard - so millions of stores and ATMs.
Can I replace my normal debit card with a crypto debit card?
It's entirely up to you. If you use crypto as your main source of funding, then a crypto debit card is a great way to increase asset liquidity and make day-to-day purchases easier.
Are crypto debit cards the future?
There are hundreds of providers offering crypto debit cards these days, with low fees and a range of perks. With all these products, it’s easier than ever to spend your crypto just like you’d spend fiat currency. Particularly for traveling abroad, regular debit cards just can’t compete. Nothing is certain, but as crypto becomes more and more mainstream, crypto debit cards may well become the norm.
What about tax on crypto debit cards?
Bad news - spending crypto, including with a crypto debit card, is taxable. Find out more in our crypto debit cards tax guide.
How we rated the top crypto debit cards to consider
There are a lot of factors to take into account when selecting a crypto debit card, including:
Fees: Not all crypto debit cards are fee-free, and many may come with specific transaction fees or even annual fees. Therefore, it's essential to compare the available options to find the most suitable one for your budget and requirements.
Rewards: Different cards provide varying rewards. Whether it's cashback, discounts, or other benefits, you should opt for a card that offers the most valuable rewards to you.
Security features: Encryption, 2FA, fraud protection, and more – all these features are designed to ensure the safety of you and your crypto assets. Hence, your crypto debit card should offer top-tier security measures.
Customer support: In case you encounter any issues, quick resolution is crucial. That's why efficient customer support is important. Reviewing Trustpilot ratings and more can assist you in locating an issuer with excellent customer support.
Reputation: Whether it pertains to the card provider itself or the assurance of using a global payment processor like Mastercard, establishing trust with your card issuer is paramount.
Compatibility: Certain cards are only compatible with specific cryptocurrencies. Therefore, ensure that the card you select supports the particular currencies you intend to use. It's a lot to contemplate, which is why we've taken all these aspects into account while evaluating the finest crypto debit cards for 2024.