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Generation Z, which grew up at the intersection of technology and globalisation, is fast becoming a leader in innovative financial solutions. According to an EY survey, they are significantly ahead of previous generations in the use of alternative payment methods. Gen Z are three times more likely to use contactless payments, payment apps, buy now, pay later services, and actively use in-game currencies. Representatives of this generation not only value convenience but also strive for fast financial transactions, which is actively implemented through the use of cryptocurrencies and crypto cards.
However, as with any financial decision, there are various aspects to consider when choosing a crypto card. In today’s article, we’ll have a look at the best crypto cards and their «red» and «green» flags.
Types of cards: Cryptocurrency cards can be credit, debit, or prepaid, and they allow you to use cryptocurrency to make purchases or withdraw fiat funds. They are usually issued by cryptocurrency exchanges and financial institutions. They work similarly to traditional credit or debit cards and can be either physical or virtual.
Registration and verification: To start using a card, you need to choose a service provider and register an account. This process usually involves verifying the user’s identity by providing documents in accordance with Know Your Customer (KYC) requirements.
Converting crypto to fiat: When making a purchase, cryptocurrency is automatically converted into local currency at the current exchange rate at the time of the transaction.
Cash withdrawals: Users can withdraw cash through compatible ATMs. When withdrawing funds, the crypto is automatically converted into fiat currency.
Security and protection: Crypto cards offer a high level of security through the use of PIN, chip and two-factor authentication (2FA). In addition, transactions are monitored for suspicious activity, and if the card is lost, it can be blocked through special tools.
Trustee — a debit crypto card from the multi-currency crypto wallet Trustee Plus.
Key features:
Supported currencies: Euro (EUR),
Card format: A virtual card is available to all users. The physical card was available in limited quantities, but applications are now closed.
Supported cryptocurrencies: 30+ popular assets.
Fees:
Crypto balance top-up: 0%
Card payments (online/offline): 0%
Cryptocurrency-to-euro conversion: 0.5%
ATM cash withdrawal: €1 + 1.5%
5. Limits:
Single transaction: up to €5,000
Daily limit: €5,000; monthly limit: €50,000
Daily ATM withdrawal limit: €2,000; monthly limit: €20,000
6. Issuance cost: €10 (one-time fee).
7. Additional features: Support for Apple Pay and Google Pay.
Green Flags:
Wide cryptocurrency support. Over 30 crypto make the card convenient for a variety of users.
Low fees. Zero fees for top-ups and card payments, with a competitive 0.5% conversion rate.
No monthly fees. Free maintenance is an attractive factor.
Integration with digital wallets. Support for Apple Pay and Google Pay simplifies usage.
Simple referral program. Rewards of up to 45% of Trustee’s transaction revenue from referred users.
Red Flags:
No physical card. Physical cards are currently unavailable, limiting usage in certain scenarios.
Cash withdrawal fee. A fixed fee of €1 + 1.5% can be costly for large amounts.
Issuance cost. €10 is a small fee, but some competitors offer free cards.
Wirex Card is a crypto debit card from the financial Web3 application Wirex.
Key features:
Supported currencies: Euro (EUR), US Dollar (USD), British Pound (GBP).
Card format: Virtual and plastic card.
Supported cryptocurrencies: BTC, LTC, ETH, XRP, ADA, and DOGE.
Fees:
Crypto balance top-up: 0%;
Card payments (online/offline): 0%;
Cryptocurrency conversion: up to 2%;
ATM cash withdrawal: free of charge up to €200 per month, after which a 2% commission is charged.
5. Limits:
Daily limit: €30,000;
Monthly limit: €30,000;
Daily ATM withdrawal limit: €500;
Monthly limit: €5,000.
6. Issuance cost: Free opening and maintenance. The physical card requires a €5 shipping fee.
7. Additional features: Support for Apple Pay, Google Pay, and other payment providers, and rewards programme (from 0.5% to 7%).
Green Flags:
High Spending Limits: The card offers a daily limit of €30,000 and a monthly limit of €30,000, which is quite high compared to other crypto debit cards.
Rewards programme: The rewards programme allows users to earn cashback from 0.5% to 7% depending on the subscription level and WXT tokens blocked, making it a potentially lucrative option for loyal users.
Support for Apple Pay and Google Pay: The card integrates with major payment systems, which increases the convenience of mobile payments.
Low fees: The card has no fees for replenishment of the account and card payments, which makes it cost-effective for regular use. Cash withdrawals from ATMs are also free of charge up to EUR 200 per month.
Red Flags:
The dependence of the reward programme on a premium subscription: To receive the maximum cashback (7%), users need to have a premium status and block a significant amount of WXT, which is not suitable for everyone.
WhiteBIT Nova is a cryptocurrency debit card issued by the WhiteBIT crypto exchange.
Key features:
Supported currencies: Euro (EUR)
Card format: Virtual and plastic card.
Supported cryptocurrencies: USDC, BTC, ETH, XRP, SOL, NEAR, ADA, AVAX, WBT, DOGE
Fees:
Crypto balance top-up: 0%.
Card payments (online/offline): 0%.
Commission for inactivity: 0%.
5. Limits:
Single transaction: €10,000;
Daily limit: €10,000;
Monthly limit: €25,000;
Daily ATM withdrawal limit: €3,000;
Monthly limit: €15,000.
PIN code change — €1.
6. Issuance cost: Free opening and maintenance. However, for a physical card, you need to pay €10 for shipping.
7. Additional features: It supports Apple Pay and Google Pay, a referral programme, and cashback in BTC and WBT (from 2 to 10%).
Green Flags:
A variety of assets: The card supports a wide range of popular cryptocurrencies.
Cashback programme: The card offers cashback of up to 10% on certain categories of purchases. It can be received in both BTC and WBT, with the possibility of accumulation and transfer to the main balance after reaching 5 USDC.
Referral programme: Users can receive 1 USDC for each user who registers through their link, but not more than 50 USDC.
High limits: A single transaction can be up to €10,000, and the daily cash withdrawal limit is up to €3,000. These are some of the highest limits among crypto cards.
Google Pay and Apple Pay integration: Support for popular payment services allows you to conveniently pay for purchases using your smartphone.
Red Flags:
Cashback limit: The €25 maximum cashback limit may limit the benefits for active users.
Bybit Card — a debit crypto card from Bybit crypto exchange.
Key features:
Supported currencies: US Dollar (USD).
Card format: Virtual and physical card.
Supported cryptocurrencies: BTC, ETH, XRP, TON, USDT, USDC, MNT and BNB
Fees:
Currency exchange: +1% to the Mastercard exchange rate.
Card payments (online/offline): 0%.
Cryptocurrency conversion: +0.9% to the spot trading fee.
ATM cash withdrawal: 2% after the first $100 withdrawn monthly.
5. Limits:
Daily limit: $5,000;
Monthly limit: $50,000;
Yearly limit: $250,000;
Daily ATM withdrawal limit: $2,000;
Monthly limit: $10,000;
Yearly limit: $75,000.
6. Issuance cost: Free opening and maintenance. Issuing a physical card costs $5.
7. Additional features: Support for Apple Pay, Google Pay, and other payment providers, a referral program, and cashback rewards depending on the VIP level of the account (from 2% to 10%).
Green Flags:
Support for popular cryptocurrencies: The card supports a wide range of cryptocurrencies, and the developers promise to add new options in the near future.
Cashback and loyalty programme: Cashback (up to 10%) depending on the level of VIP status, as well as a loyalty system that allows you to earn points to exchange for domestic and cryptocurrency vouchers, add even more benefits.
Auto Saving function: The ability to earn interest on assets in Flexible Savings, allowing users to receive passive income from their cryptocurrencies.
Integration of popular payment services: Support for Apple Pay and Google Pay allows you to make purchases via smartphone without a physical card.
Red Flags:
Conversion and cash withdrawal fees: The card includes fees for currency exchange (+1% to the Mastercard rate) and cryptocurrency conversion (+0.9% to the standard spot trading fee), which may be inconvenient for users who frequently make such transactions. ATM withdrawals are also subject to a 2% fee if you exceed the $100 per month limit.
Nexo Card is a cryptocurrency card from the Nexo crypto lending platform. It combines the functions of a credit and debit card, providing users with maximum spending flexibility.
Key features:
Supported currencies: Euro (EUR), US Dollar (USD), British Pound (GBP).
Card format: Virtual and plastic card.
Supported cryptocurrencies: BTC, ETH, USDT.
Fees: No fee for issuing and using the card. Fees for transactions in foreign currencies depend on the day of the week: weekdays — 0.2% (EEA/UK/CH), 2% (other countries); weekends — 0.7% (EEA/UK/CH), 2.5% (other countries);
Limits: Free ATM withdrawals depending on the loyalty level: Base — up to €200 / £180; Silver — up to €400 / £360; Gold — up to €1,000 / £900; Platinum — up to €2,000 / £1,800. After the limit is reached, a 2% fee is charged for additional withdrawals. Transaction limits: not specified.
Issuance cost: Free of charge when making a deposit of $50 or more for a virtual card or $500 or more for a physical card with Gold loyalty level.
Additional features: Cashback of up to 2% on purchases in credit mode, high interest rates on the balance in debit mode, and the ability to switch between credit and debit modes.
Green Flags:
Dual-mode functionality (credit/debit): Users can switch between the modes, allowing them to conveniently use cryptocurrency either as collateral for lending or for direct spending through the debit function.
Favourable rates on the balance in debit mode: The card offers up to 14% per annum on the balance in NEXO tokens or up to 12% in cryptocurrency, which is a significant advantage for those who use the card to accumulate assets.
Cashback: In the credit mode, you can get up to 2% cashback in NEXO tokens or up to 0.5% in BTC.
Free ATM withdrawals: Depending on the level of loyalty, users can make up to 5 free ATM withdrawals per month, which is a lucrative bonus.
Red Flags:
Fees for transactions in foreign currency: Fees for foreign currency transactions may vary, especially on weekends, and can be as high as 2.5%.
Minimum deposit requirements: To get a physical card, you need to make a deposit of $500 or more and reach the Gold loyalty level. For new users or those who do not have significant funds, this can be an obstacle.
Cash withdrawal limits: Although the card allows you to withdraw cash for free, there are restrictions that depend on the loyalty level.
Today, crypto cards are becoming increasingly popular among users due to their convenience, speed and security for everyday financial transactions. They allow you to make purchases and withdraw fiat funds using digital assets. However, when choosing a cryptocurrency card, it is important to pay attention to various factors, such as supported currencies, fees, limits, and additional features. Each card has its own strengths and weaknesses, which help users find the best option for their needs.
Originally published at https://36crypto.com on December 27, 2024.
Vlad Hryniv
