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As cryptocurrency popularity continues to increase, the demand for crypto debit cards also grows. These debit cards allow us to use digital funds in daily life: pay for products or services, withdraw cash, and even handle international wire transfers. Let’s get into details and explore the attainable options and which cards will be widely recognized in 2024.
Cryptocurrency debit cards work as a tool that converts your digital currency like Bitcoin or Ether to fiat currency to be used for everyday deals in real life. Common advantages of crypto debit cards are:
- Instant currency conversion
- Support for multiple fiat currencies
- Can be used in millions of retail spots worldwide
- Most of the card providers offer cashback or other bonuses if the card is actively used
Typically, crypto cards work through Visa and Mastercard payment systems, which makes them convenient and easy to use in every country, as they are compatible with most merchants. However, before you decide to buy a crypto debit card, make sure that it is suitable for your region.
Secondly, cross-check all the applicable fees before you order your card. Many local banks and financial institutions issue crypto cards, yet some of them tend to have hidden fees that might come as an unpleasant surprise afterwards. Pay attention to conversion and cash withdrawal fees and card maintenance fees. In some cases, the commissions are so high that card possession becomes unsustainable.
Additionally, confirm that the debit card supports the cryptocurrency you are going to use. The majority of cards support stablecoins or popular currencies like BTC, ETH or SOL, while others have a wider range of options. Also do not take security measures lightly and choose the cards with 2FA and PIN protection and a user-friendly mobile app, to be able to block the card in case it is lost or stolen.
So, what are the best options for where to buy a crypto debit card this year?
1. Binance card – probably the most well-known and widely used card, due to its reasonable fees and a selection of supported cryptocurrencies. Moreover, if the card is actively used, you get up to 8% cashback for purchases.
2. Crypto.com card – another recognised option that supports major cryptocurrencies and offers users an attractive cashback of up to 5%. Additionally, there is no card maintenance fee if it is used with the basic plan.
3. Coinbase card – this card is issued by a major crypto exchange platform with favourable conditions to all Coinbase users. The card supports all popular digital currencies and has low fees and transaction commissions. Another advantage is that it can be easily integrated with the Coinbase application, which noticeably simplifies the utilisation process.
4. Wirex card – if you want to buy a crypto debit card that is accepted in most countries, then the Wirex card is an option for you – it can be used in 130 world countries and converts crypto to fiat at the market rate. Moreover, the service offers cashback in the form of digital currency.
Step-by-step guide on how to buy a crypto debit card:
- Select a platform or a financial institution that issues crypto debit cards, get acquainted with terms and conditions and create an account.
- Verify your account and provide an eligible ID, as most platforms require a KYC (Know Your Customer) process for double security measures.
- Transfer the cryptocurrency of your choice (double-check that the debit card supports it) to your account.
- Order a physical or a virtual card, pay the card issue fee (if applicable) and wait for it to be delivered to you.
When you buy a crypto debit card, it opens up new doors for using your assets in everyday life. The choice of the perfect card depends solely on your requirements, place of residence and the budget you are willing to spend.
The cryptocurrency world might seem a bit too complicated for a new trader, but all processes are logical and clear if you start your education process gradually. Https://ellyx.com/in/ will become your trustworthy guide in the exciting crypto journey if you want to know the latest tips on cryptocurrency trading, read innovative reviews and get detailed guides on the most topical themes. Start trading today and get your profit while it is still hot.
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Disclaimer: The information provided in this post regarding cryptocurrencies and NFTs is for general informational purposes only. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any losses incurred from such transactions. Cryptocurrency trading involves high risk and may not be suitable for all investors. It is important to carefully consider your investment objectives, level of experience, and risk appetite before deciding to trade cryptocurrencies, tokens, or any other digital asset. TaxGuru does not recommend buying, selling, or holding any specific cryptocurrency. This post does not constitute financial, investment, or tax advice. It is recommended to conduct your own due diligence and consult with a qualified financial advisor before making any investment decisions. The author and TaxGuru do not guarantee the authenticity, accuracy, completeness, or absence of errors in the information provided. Any actions taken based on the information in this post are done at your own risk. The author and TaxGuru shall not be held responsible or liable in any manner for any consequences arising from the use of this information.
