6 July 2020
A crypto payment card enables you to spend money whenever and wherever on the go. While choosing the cards, it is important to consider the countries that support such a system, the crypto coins that the card supports, jurisdiction, security, reliability, features, rate, and the fees, while with some of the cards you can even receive rewards and other benefits!
In this blog, we have listed 5 known crypto payment cards for the year 2020:
1. Crypto.com - MCO Visa Card
The MCO Visa Card is a payment card by Crypto.com, a crypto company founded in the year 2016 and based in Hong Kong.
Availability: Europe, Singapore, and the USA.
Backed by: Visa
Fund: With MCO Visa Card, you can deposit cash through crypto.com’s mobile app, a deposit of fiat - EUR, AUD, HKD, GBP, or JPY is accepted through credit card, debit card or bank transfer. It offers 5 different Visa Cards while the entry-level card is for free and does not require any deposit. The user can even utilize cryptocurrency by trading into fiat with the help of the mobile app. It supports Bitcoin, XRP, Litecoin, Ethereum, and many other cryptocurrencies.
Fees: The MCO Visa Card does not consist of a monthly or issuance fee. However, it has a limitation on the ATM withdraws, and consists of fees, inter-bank exchange rates, and top-ups.
Rewards: With MCO Visa Card you can receive a reward on every transactional purchase you make while the rewards depend upon how much MCO have you staked. Every time the user spends it receives 3% back instantly and with more cashback offers. With a free card, you receive a 1% value back on your purchase to 5% value back on the high-tier cards. The various other rewards you can receive are free subscriptions to Netflix, Amazon Prime, Expedia, Airbnb, and Spotify.
The Wirex payment card is a UK-based company since the year 2014. It is based in London, a fintech firm, and was the first to launch a contactless, multi-currency Visa card.
Availability: the U.K. and more than 130 countries.
Backed by: Visa
Fund: With the Wirex card, you can top up through a mobile app or web interface. A deposit of fiat - GBP, EUR or USD is accepted through SEPA, Faster Payments, SWIFT, bank transfers, and card payments. The user can also convert its crypto to a Wirex balance. It supports Wirex’s WXT token, Bitcoin, Litecoin, XRP, Nano, and many other cryptocurrencies.
Fees: The Wirex card does not consist of issuance fee, but a monthly fee. The user can spend up to $10,000 per day and an ATM withdrawal of up to $250 per day. It also consists of fees for currency exchange and bank transfers.
Rewards: With Wirex card you can receive rewards on every transactional purchase you make. The basic card offers you a value back of 0.5% on purchase and value back of up to 1.5% however it depends on the number of WXT tokens one holds.
3. BitPay Card
BitPay is also a cryptocurrency payment processor, founded in the year 2011 while the payment card in 2016 for the customers in the U.S.
Availability: All the U.S. states.
Backed by: Visa
Fund: With BitPay card, you can send BTC from any wallet but it should be compatible, and also the fiat can be deposited through a bank, ACH credit, and services like Western Union.
Fees: The BitPay card consist of an issuance fee of $9.95. The user can spend up to $10,000 per day, ATM withdrawal of up to $1,500 while monthly up to $5000.
Rewards: BitPay does not offer rewards.
Uphold is a cryptocurrency payment company that was founded in the year 2013 while it introduced its payment card in March 2020.
Availability: The U.S.A and over 184 countries by the waitlist.
Backed by: Mastercard
Fund: With Uphold, you can add funds from a mobile app or with a web interface, and it is also integrated with the Brave browser. The deposits are supported by debit cards, credit cards, SEPA transfer, and ACH bank transfer. The cryptos that you can deposit are Bitcoin, Ethereum, Litecoin, XRP, and many more.
Fees: The Uphold card consist issuance fee of $9.95 but no monthly fees. The user can spend up to $10,000 and make a withdrawal of up to $1500 per day.
Rewards: Uphold has no in-built rewards however it consists of rewards received from third-party service providers.
5. Coinbase Card
Coinbase is one of the popular cryptocurrency exchange platforms while its crypto payment service was offered in E.U. since the year 2019.
Availability: the U.K. and Europe
Backed by: Visa
Fees: The Coinbase card consists of an issuance fee of £4.95 but no monthly fee. The user’s spending limit initiates from £10,000 and it is negotiable while the ATM withdrawal is free up to £200 and beyond that, a 1% fee is charged with a limit of £500.
Rewards: The Coinbase card does not offer any rewards but one can receive possibly rewards through its features like Tezos staking, Coinbase Earn, and USDC savings account.