Got crypto? Here are 3 debit cards that let you spend your stack

As blockchain technology and public awareness of cryptocurrency continue to grow, a range of new use cases hit the market and improve the efficiency of legacy financial systems.

Despite its many applications, the use case original Bitcoin (BTC) as a medium of exchange remains one of the most fundamental of the technology blockchain and, while BTC might not be the best asset to use for payments, there are service providers that have facilitated the process of settlement of transactions in other criptomonedas.

For now, the most widely accepted way to use cryptocurrencies for direct payments in everyday life is through the use of crypto debit cards that allow users to convert their cryptocurrency holdings into US dollars. They essentially work the same way a prepaid debit does.

With institutions showing increased interest in the growing cryptocurrency sector and general awareness of blockchain technology at its highest level, crypto debit cards are increasing in prevalence as new players enter the field to try to capture a share in this growing market.

Three of the debit cards with a history of success and attractive rewards are BitPay, Crypto.com and the Nexo card.

Bitpay
BitPay’s prepaid Mastercard has become the best choice for many cryptocurrency holders thanks to its ease of Use and low fees. It was originally launched in 2016 as a debit card only in the United States and functioned primarily as a Bitcoin payment processor.

BitPay now supports eight different fiat currency options along with support for Bitcoin, Ethereum (ETH), Gemini Dollar (GUSD), USD Coin (USDC), Paxos (PAX) and Bitcoin Cash (BCH).

Users who wish to obtain the card must first pay an activation fee of 9 9.95 and provide their social Security number and driver’s license to gain access. Once approved, the user can upload cryptocurrencies to their BitPay wallet and then convert them into dollars so that they are available on the card.

UU., and the card has a daily spending limit of 1 10,000 with a maximum account balance of 2 25,000.

Crypto.com
For the ardent cryptocurrency fanatic, the Crypto.com the debit card is one of the best options due to the fact that it has a built-in native token called Crypto.com currency (CRO) that functions as the primary currency and reward token for the blockchain.

The benefits of using the card include a 100% refund on popular streaming services like Netflix and Spotify, as well as up to 8% refund on regular purchases.

users can choose from a list of over 100 major cryptocurrencies to fund their card by depositing them into their account and converting them into a stablecoin that is then loaded onto their debit card.

Levels range from requiring a $ 400 Ruby bet for the Ruby Steel card, to needing $ 400,000 wagered to get the Obsidian card, which offers an 8% refund on all purchases. There is also a basic version of the card that does not require any wagering and offers a 1% refund on all purchases.

Nexo Card
A third option that offers a different structure to most crypto debit cards is the Nexo card and its native NEXO cryptocurrency that is currently trading at $3.63.

Instead of requiring users to convert cryptocurrency held in their accounts to US dollars before using it, Nexo issues an instant loan based on the value of the cryptocurrency held in a user account and settles the transaction in fiat currency.
This allows users to access the value of their cryptocurrency assets without having to sell them. The loan can be repaid using either cryptocurrency or fiat through your Nexus account with the possibility of having the minimum payout paid for the return earned on a user wagered cryptocurrency assets.

Interest rates for charges on the card are set at 5.9%, and there are no monthly or annual change fees. In addition to this, users receive a 2% cashback in the form of Nexo tokens or BTC.

As more banks and institutions in the United States and around the world engage in the cryptocurrency sector to find ways to capitalize on the growing market, crypto debit cards are likely to become a more prominent element in legacy payment channels.

 

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