Many cryptocurrency traders have this question in mind, which bitcoin debit card they should go for. There are different debit cards that one can use for their day to day crypto trading. This document serves to assist traders in selecting the best debit card that will help them manage their account by listing below the best bitcoin debit cards in the UK.
What is a Bitcoin Debit Card?
A bitcoin debit card is no different from your usual payment card just that it gives you a choice to load it with crypto instead of the usual currency. Whenever you wish to make a transaction your chosen card provider then automatically converts your crypto into the usual currency or in some cases you can do it manually. One can do day-to-day transactions like shopping for groceries and any other regular payments using this card.
How Does One Acquire A Bitcoin Debit Card?
Bitcoin debit cards are not fixed for use in one country they are available for users in many countries. To get the card one can simply sign up at any Bitcoin debit card provider of their choice and go through the usual stages of providing personal details like an I.D and proof of residence.
There is also an option of holding an anonymous account where these personal details are not required. It takes up to 2-3 weeks for one’s card to be delivered to them.
Best crypto debit cards
The crypto.com Visa Card was previously known as the Monaco VISA CARD. It generally works in countries that accept visa cards. It does not charge account management fees and card issuance. It uses a Visa card.
Countries that support this type of debit card
Fiat currencies supported by Crypto.com Debit Card
Benefits of using a Crypto.com Visa Card
- staking up to 5,000,000 CRO will award you the benefits below:
- 8% in return for all your spending
- 100% Netflix and Amazon rebate
- cashback of up to 10% on Expedia and Airbnb transactions
- unlimited access to interbank exchange rates
Only available in the UK and Europe the Wirex debit card is known to be one of the places you can buy bitcoin with a debit card at the cheapest range of prices. Wirex Debit Card also has free card issuance and no account management fee.
Countries that support Wirex Debit Card are 37 in total including:
Fiat currencies supported by Wirex Debit Card
Other Cryptocurrencies Supported by Wirex Debit Card
- wirex token
- Mastercard Debit Card Prepaid
The benefits of using Wirex Debit Card
- it’s considered easy and cheap to buy bitcoin with
- opening an account is free
- you get 0.5% cashback when using your card instore
A bit different from the Wirex Debit Card and Crypto.com Debit Card, Coinbase debit card charges 4.95 pounds for card issuance. Coinbase was launched in 2019 and said by many to have high transaction costs.
Countries that support Coinbase Debit Card
Fiat currencies supported by Coinbase Debit Card
Other Cryptocurrencies supported by Coinbase Debit card
- bitcoin cash
- Visa Debit (GBP)
The benefits of using Coinbase Debit Card
- it converts your cryptocurrency automatically to cover any purchases you make
- It connects with cryptocurrency wallets easily
Bitwala is considered the cheapest on the market. It does not charge when ordering the card and maintaining it as well. It does however charge 1pound when one is converting crypto to fiat.
Countries that support Bitwala Debit Card
Fiat currencies supported by Bitwala Debit Card
Cryptocurrencies supported by Bitwala Debit Card
- Card Type
Benefits of using Bitwala Debit Card
- its user friendly
- offers a secure
This Debit card is available in the UK but looking to grow into EU countries and beyond. Unlike the other providers it charges issuance for a physical card and it also charges a management fee to keep the account functional. The other downside is they charge 1% to load money into your crypto.
Countries that support Cryptopay
Fiat currencies supported by Cryptopay
Cryptocurrencies supported by Cryptopay
- Visa (GBP, EUR, USD )
Plutus debit card was launched in 2015. It is considered the longest running cryptocurrency debit card. It is usable in 200 different countries having its own token in London called PLU. Plutus Debit Card virtual bank account is offered for free to all EU residents.
Countries that support Plutus Debit Cards
Fiat currencies supported by Plutus Debit Card
Cryptocurrency supported by Plutus Debit Card
- Card Type
Benefits of using Plutus Debit Card
- Secure to use as transactions move straight from seller to buyer
- You get 3% of value into your PLU
Revolut debit card has been in use since 2017. It is used by EEA traders to exchange their crypto and do day-to-day transactions like grocery shopping. Revolut debit card takes a flat cut of 1.5% when exchanging your crypto yet on the other hand it does not charge to transfer crypto to other members of the Revolut Bank. It transfers your cryptocurrency into fiat currency at the point of purchase.
Countries that support Revolut Debit Card
Fiat currencies supported by Revolut Debit Card
Cryptocurrencies supported by Revolut Debit Card
Benefits of using Revolut Debit Card
- You get to convert currency with the best rates on the market
- No charges for transferring money internationally
How to choose the best Bitcoin debit card?
Before you can choose a bitcoin debit card, there are things that you will need to look at. Doing that ensures that you enjoy all the best features of the card. Below are some of the aspects that you will need to consider:
- It’s important to check and see if the card will work in your country. Different platforms serve different countries, and some countries are actually not eligible. Because of that, you will need to check that information first.
- The next thing that you will need to look at is the fees charged by the card. After all, you need to use a card that has a reasonable fee structure.
- You must also do your thorough research in order to see if the software wallets do not come with any bugs that may inconvenience you later.
- Finally, it’s important to look at the history and background of the company to see if it is well funded. This plays a role when it comes to reliability and safety.
Ordering the Card
Below, we share the steps to ordering a bitcoin debit card
Make sure you have a bitcoin wallet, and this should be with the platform that offers the card.
Next, open an account with that company and make sure that you purchase the card.
Now, you should make sure that you choose an account that suits your preferences in terms of spending habits and fees.
At this point, you will need to apply for the card, as well as pay any applicable fees
Using the Card
When it comes to using the card, you will need to know how it works. The first thing that you must take note of is that the card will be topped up with BTC. You will then be able to convert your BTC to any fiat currency, which then allows you to make purchases online.
Also, depending on the company that you would have used, the funds may be converted only when you need to make a transaction. On the other hand, some companies will convert to fiat currency as soon as you top up your card.
You will also find out that some companies will link your card to your fiat account. That way, you will be able to move your funds both ways, as you like.
Whichever way that your platform uses, it is still important to note that you are able to use your card to make payments and purchases anytime. This is because all cards are linked to either VISA or MasterCard, both of which are payment options that are accepted worldwide.
There are quite a number of providers of Bitcoin Debit Cards. It is then important for one to go through each and every one of them before making a choice on which Bitcoin Debit Card to use for Bitcoin Cryptocurrency trading looking at the costs and benefits involved.