Crypto cards aim to bridge the gap between legacy banking and digital assets. It allows more than 53 million merchants around the world to take advantage of the flexibility to convert cash to cash via ATMs while holding in cryptocurrencies, or the ability to spend money just as they do from a fiat bank account.
Crypto cards eliminate the hassle and slow transaction process in converting crypto to domestic currency via an exchange and withdrawing funds to your bank account, reducing the hassle of merchant acceptance and reducing barriers to mainstream oversight.
Increasing interest in the crypto space and the overall demand for card payment has led to a variety of different crypto card options that cover markets around the world and provide a range of functionality for users.
CRYPTO.COM Card
The Metal Crypto.com Visa card can be used by users in Asia, Europe and the United States. Cardholders can also use the local token to get advanced cashback and rewards.
The card offers a wallet service connected to the Crypto.com mobile app, providing access to buy and sell 7 fiat currencies and 53 cryptocurrencies. It also connects the Crypto.com ecosystem, allowing users to earn interest, access loans, invest, accept payments and exchange their crypto. Its features are listed below:
There is no minimum balance and no annual transaction fees.
No withdrawal fees from ATMs up to $ 1000.
Zero fee currency.
Support for fiat and cryptocurrency deposits, zero fee crypto to fiat currency conversion.
CRORE cash back rewards up to 8% on every transaction.
100% discount for Spotify, Amazon Prime and Netflix subscriptions.
10% discount on Expedia and Airbnb usage.
COINZOOM Card
The Coinzoom Visa card offers Bitcoin, Ethereum, XRP and other cryptocurrencies for the internationally expanding US market. Behind the card is CoinZoom, a traditional brokerage firm that aims to be a digital banking solution for both crypto and fiat money.
The card and related wallet application was combined with the enterprise-class secure surveillance and registered digital currency exchange of CoinZoom, which expects to become the third US platform to be awarded BitLicense after Coinbase and Gemini. Its key features are as follows:
Apple Pay and Samsung Pay connectivity.
Cashback up to 5% on all card purchases.
Up to 50% exchange discounts for ZOOM token holders.
Earn up to 8% APR on certain cryptocurrencies.
Instant Venmo-style USD or cryptocurrency transfer with free "ZoomMe" up to $ 10,000 a day.
Referral rewards up to $ 50,000.
Automatic debt collection on cryptocurrency conversions.
METAL SHARE
Metal Pay works a little differently, offering a solution tied to existing bank accounts or debit cards, more like Venmo or PayPal for crypto, but with similar advantages to others.
Metal Money confirms the smooth transfer of money to an account. Users can then create cash and crypto cards in the app to easily buy, sell, send and receive transfers over 30 cryptocurrencies.
Metal Pay app supports FDIC insured banks so essentially you can get an FDIC insured cash account with Metal Pay. Currently available in the US, but global expansion is planned. As for its features:
Up to 5% "Pop" transaction rewards for payments with metal tokens (MTL).
Instant deposits with linked bank account transfers and debit cards.
Fee discounts for MTL holders.
Free shipping to your friends and family.
Send money and pay using phone numbers.
Supervised and unsupervised wallets.
An FDIC insured cash wallet (within the US only).
BINANCE CARD
The Finance Crypto card connects to one of the largest global cryptocurrency exchanges, allowing users to automatically transfer crypto from their main Binance wallet to their Binance Card wallet.
Currently supporting BTC, SXP, BNB and BUSD, this card is available in Europe and expected in more countries soon. Its features are;
Zero subscription or maintenance fees.
Up to 8% BnB cashback on transactions.
Google Play and Samsung Pay integration.
Funds benefiting from Binance's advanced security features
Automatic refill from your main Binance wallet when you reach the minimum balance
Less than 0.9% transaction fees.
Spending up to 8,000 Euros a day.
WIREX CARD
Wirex offers a multi-currency Visa card and a dedicated smartphone app that supports 18 traditional and cryptocurrencies with the WXT utility token. Users can benefit from cashback on purchases and the highest level of security protection.
Wirex, currently operating in Europe and parts of the Asia-Pacific, is now trying to expand to Canada, Japan and the USA. Card features are as follows:
"Cryptoback" up to 1.5% in BTC for all in-store purchases.
High limits up to $ 50,000 a day.
Reputation and cryptocurrency deposit support.
Up to 100% discount on the use of WXT tokens.
Frozen cryptocurrency accounts.
Fixed fee for withdrawing money from ATMs.
$ 1.5 monthly card management fee.
THE FUTURE FOR CRYPTO CARDS
Crypto cards provide a revolutionary step in cryptocurrency adoption by simplifying the process of holding, exchanging and spending cryptocurrencies, expanding market reach, and helping participants navigate the growing world of crypto utility.
These benefits, developed so far with increasing incentives including betting, interest earning and payment acceptance services, are just the beginning in expanding the potential of physical and virtual card-based crypto services in the coming years.
I recently gota coinbase card as it was a platform I was using already and already it's transforming how I organise my finances, spending and pretty much everything. Living nomadically on a boat with no fixed mooring and earning crypto as we go this has cut a big hassle out of our lives as we can now bypass using any mainstream banks for everyday spending. I love it, just wish some of the other providers would get onboard and let their cards be used in this part of the world also