What are the Main Features of Crypto Cards and How to Use them?
Crypto cards appear as a solution for customers and businesses facing difficulties in making or receiving payments using cryptocurrencies. The global adoption of cryptocurrencies increased proportionally, and during this period, crypto cards became a hotly debated topic in the crypto industry. Well, there are many reasons for crypto cards to be mainstream. In this blog, we will discuss the main features of crypto cards and how to use them. This article will help you to earn daily profit.
So, let’s get started!
What are crypto cards?
Crypto cards are similar to traditional debit or credit cards. But the difference is that with crypto cards, cardholders can spend both crypto and fiat (USD, CAD, EUR) currencies. In addition, using cryptocurrency cards ensure easier and faster transactions than traditional credit or debit cards. Moreover, the transactions made by crypto cards are irreversible and can’t be cancelled.
What are the main features of crypto cards?
Crypto cards are known and mainly being adopted for their outstanding features. The following are some of the main features of crypto cards.
Spend cryptocurrency freely
Crypto cards made it possible for cryptocurrency holders to freely spend their cryptos for everyday purchases, just like fiat currency.
Before crypto cards, it was not this easy to use cryptos to pay for services in the real world. The crypto holders had to use wire transfers and Bitcoin ATMs, which are not convenient as crypto cards.
Earn cashback in cryptocurrency
Some bank cards offer cashback in fiat currency, which is often very low. On the other hand, crypto cards offer attractive cashback from 3% to up to 8% of the transaction. Also, the back comes in the form of cryptocurrency such as Bitcoin.
So, cardholders can passively earn more cryptos while using crypto cards for purchases.
Low to Zero Annual Membership Fees
Some banks charge high annual fees for providing debit or credit cards services. But with crypto cards, cardholders have to pay a very low yearly fee. Some crypto cards issuers usually waive off the annual fee if the cardholders spend a certain amount of crypto within a year.
Foreign exchange fees are no more headache
Cardholders have to pay foreign exchange fees (FX) with regular bank cards, which can be up to 3% of the transaction.
While crypto cards enable crypto cards holders to get rid of foreign exchange fees. They do not have to spend FX fees on their transactions.
Hassle-free access to different currencies
Cardholders may want to use fiat currency or cryptocurrency as per their choice on different occasions. They would probably be carrying two cards, one for fiat and the other for cryptocurrency. It means they would always have to go through the hassle of switching between cards.
But crypto cards give the freedom to use both fiat and cryptocurrencies with the same card.
Earn extra-ordinary Perks
Perks are the most exciting features of crypto cards which is quite rare with regular bank cards. Crypto cards holders can enjoy certain perks such as Netflix/Spotify/Amazon Prime subscription, airport lounge access, VIP concierge, discounts on Expedia, etc.
Buy cryptocurrency with crypto cards
Buying cryptocurrency with traditional bank credit or debit cards is common. Now, crypto cardholders can also purchase cryptocurrencies using crypto cards. But, for this, the crypto card must offer this feature. All crypto cards do not provide this service. Therefore, cardholders must check it before.
How to use crypto cards?
As VISA and MasterCard support, crypto cards are acceptable at any store accepting VISA and MasterCard payments.
For using a crypto card, the cardholders must top-up their cards through a payment processor with a cryptocurrency they own. They can also choose to link their personal or website wallet to get their funds linked to their cards. Once done, their cards are ready to use.
With crypto cards, cardholders do not pay in cryptocurrency. Instead, their card issuer sells the required amount of crypto and transfers the fiat currency to the retailer. It happens within only a few minutes, making crypto cards highly convenient.
Best crypto cards
The following are some of the best crypto credit and debit cards out there.
- BlockFi credit card
- Nexo crypto credit card
- Crypto.com debit card
- Coinbase debit card
- Binance debit card
- TenX debit card
Crypto cards are worth it. Search the market to find which crypto card will best work for you. And be a part of the crypto industry revolution!