Bitcoin is no new name for all of us. In any corner of the world, you go to, there will be talk about Bitcoin(BTC). A lot of us even own Bitcoin too. The question that many of us struggle with is how do we spend Bitcoin in our daily lives. Although there are a lot of ways that you might come across in this regard, Bitcoin debit cards are among the easiest ways to spend your Bitcoins. If you have a sizable amount of Bitcoin(BTC) in your account, setting up the Bitcoin debit cards and using them is as easy as ABC.
With the Bitcoin debit cards you can spend your bitcoins to purchase anything anywhere debit cards are accepted. You can use it as your normal debit card. You can swipe the card and pay the merchant in their currency but only the amount will be debited from your Bitcoin balance.
There are plenty of bitcoin debit cards available in the market, here are a few best ones of them
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BitPay
BitPay’s prepaid Mastercard allows you to spend your Bitcoin anywhere debit cards are accepted. To start with the process, you must first move your cryptocurrency(Bitcoin) to your BitPay wallet. Once you move your crypto to your wallet you can spend your Bitcoins as you do with your currencies. BitPay doesn’t charge any extra fee for the transaction but a standard fee will be charged for the transfer and conversion of your Bitcoins.
To apply for the card, you might need to give your social security number and your driver’s licence as your ID. Other than the standard fees, you might also have to pay $2.5 for ATM transactions and a 3% fee when you use the card outside the United States. You might also have to pay a $5 fee if you are inactive for a period of 90 days. One benefit of using BitPay is that it will not charge you any monthly maintenance fee and also there are no conversion fees when you reload your card.
Coinbase
Coinbase cards are only available to Coinbase users. It converts multiple cryptocurrencies to local currencies for you to use them. It is a Visa backed card that you can spend anywhere Visa is accepted. You can also get upto 4% back on your purchases with the card. This card supports more than 50 cryptocurrencies. The card is protected by two-step authentication, bank-level encryption(AES-256), instant freeze and a thorough background check of the employees.
The spending limit is $2500 daily and an ATM limit of $1000 for the United States users and for others it is ₤ 10,000 daily and ₤500 ATM withdrawals. They charge a 2.49% transaction fee within the US and ₤4.95 and 2.9% fee for overseas users. Before signing up for the card make sure to check other fees also.
Wirex
The Wirex Travel card is famous for its free international ATM withdrawals. The card supports a few fiat currencies and more than 30 cryptocurrencies. Apart from its free international withdrawals the card also is famous for waiving Foreign exchange fees. That means you can convert your fiat currency to the local currency without any charges.
The card doesn’t charge any monthly maintenance fee and on top of that offers crypto back of 2% on your spending at a store or online using the card. The card is not yet completely available in the US, but you can use it while travelling.
CoinZoom
You might have already been familiar with CoinZoom as a crypto exchange. But did you know that the platform also offers a Visa debit card that supports all the cryptocurrencies the platform supports? Yes! CoinZoom supports more than 50 cryptocurrencies and with their card, you can spend all these cryptocurrencies whenever and wherever you want, provided they accept debit cards. You will have to pay a fee of $10 as a setup fee and after that, the card is completely free.
You can link your card to your cryptocurrencies using the CoinZoom app. You can choose multiple tiers among which there is an introductory select tier which would require you to hold 2000 ZOOM which would be around $169.54 and there is the highest tier Black card which would require you to hold 100,000 ZOOM that values $8477. The tier you choose decides the discount you get on trading fees and the rewards you earn. The rewards that you earn making the transactions will also be paid to you in ZOOM coins.
Crypto.com
With Crypto.com you have five different versions of debit cards. You just need to be willing to stake enough CRO for the card you want. These cards offer amazing deals and cashback on popular streaming services like Amazon Prime and Netflix(again if you can stake enough CRO).
You need to stake at least $400 worth CRO for its Ruby Steel Version, $4000 for the Royal Indigo and Jade green versions, $40,000 for the Frosted-Rose gold and Icy White versions and $400,000 for the Obsidian card which is pretty rare.
They charge a 2% fee for ATM withdrawals and 0.5 % for exchanges beyond the daily limit. A few cards even offer a 100% cashback on Spotify and other subscriptions and also you can enjoy airport lounge benefits too.
Wrapping Up
Bitcoin debit cards are one of the easiest ways to convert and spend your Bitcoins locally. There are a few cards that charge relatively lower fees than the others and offer great rewards and deals. You can skip all the conversion processes and all the hectic processes associated with spending Bitcoins and can use them as simply as you use your debit card. Since there are a lot of Bitcoin debit cards available in the market, getting a little confused about which one to choose is common. That is why we have made a list of a few of the best Bitcoin debit cards in the market. Use the list and choose the card that fits your needs.
