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The world impatiently waits for a time when the digital currency will be usable just like regular currency.
A great challenge in making cryptocurrency as prevalent as normal currency is anonymity and security. Bitcoin, Ethereum, Monero, Litecoin, ZCash, DASH, NEM, XRP, etc. are names of various crypto currencies that exist today.
Despite there being many of them, their usage in the real world is insufficient. You can’t rely on these currencies to shop around town. But there is now a way to solve this problem—the cryptocurrency debit cards.
What Are Cryptocurrency Debit Cards?
They are no different than your regular debit cards. The only additional feature these debit cards offer is that you can use your crypto currency on these cards.
What this means is that your debit card not only reflects money in your bank account but the Bitcoins or other digital currency that you own.
When you pay through this debit card at a store, the Bitcoins are converted to fiat currency on the spot without the recipient ever knowing about it, which is convenient for digital currency owners and allows them to make purchases with their Bitcoins, XRPs or Ethereum money on a day-to-day basis.
The 5 Best Cryptocurrency Debit Cards
Here are some of the best debit cards you can use in 2017 to instantly use your digital currency at stores along with their pros and cons.
Xapo remains one of the most famous digital currency cards in Europe. Xapo became famous from Argentina where Uber started using this card since other card companies in the country were not willing to let Uber use their services. Unfortunately, the card is currently not available to the US customers. Here are some pros and cons of the card.
- Convert your digital currency to fiat currency for no fees.
- While the annual fee for the card is USD 12 or EUR €10, the first year is completely free.
- Security measures taken by the company are pretty good.
- The card is available in plastic form.
- There is no anonymity.
- Not available in a long list of countries as of now.
- Xapo manager believes people have to embrace the non-anonymous nature of digital currency debit cards.
Xapo official website ranks at 7365 globally and 1939 in Spain. The ranking for the website has gone down a bit in the recent months, but the company is still able to get over 2 million views every month from unique and repeating visitors included.
This card is the one you want to get if you live in the US because you can use it in any corner of the country. However, this is a more prepaid card than a traditional debit card. You convert the bitcoins into normal currency and load into the card. Due to its convenience of usage, it is often known as one of the painless cryptocurrency debit cards. Here are some of the pros and cons of Bitpay.
- Can be used in any state of the US.
- A well-known company, so trust issues with security are little to none.
- Can be used on ATMs that accept Visa cards.
- Digital currency needs to be converted and loaded into the card before use.
- Users have to give social security number while ordering the card.
- $2 fee for every ATM transaction. $3 fee for ATM transactions out of the US.
Globally, the Bitpay website ranks at 18,508 according to Alexa and at 9,118 in the United States. In the past 30 days, the website was able to get more than 1 million visitors.
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The best thing about Bitwala is that it allows you to pay your bills using the card, i.e., bitcoins. By partnering with ShapeShift Exchange, Bitwala allows you to load your card with your desired cryptocurrency in addition to bitcoins.
- Available in plastic and virtual form.
- One of the most affordable cryptocurrency debit cards.
- This service allows top ups with any crypto currencies.
- You pay low fees on ATM cash outs.
- Not available for US citizens as of now.
- The service does not have its currency exchange platform.
Bitwala website is currently ranked 164,094 and 23,619 globally and in the UK respectively. Being a new website, their monthly visitor mark of more than 150,000 visitors per month is pretty appreciable.
This card is prepaid with loaded bitcoins on it. You are not charged any fees for loading bitcoins on the card which makes it one of the affordable ones.
- You can use the card anywhere in the world where Visa and MasterCard are accepted.
- Cards available in GBP, EUR, and USD.
- Can be bought in physical plastic form and online form.
- The card can be loaded with other digital currencies than bitcoins too.
- Windows smartphone application is also available
- Requires verification from users when higher limits are to be availed.
- The physical card can sometimes take up 2 or 3 weeks to be delivered at the doorstep.
SpectroCoin website gets more than 1.4 million visitors every 30 days. Their global rank is 12,734, and Russian rank is 5,002.
If you want to play it safe and do business with the most trusted ones, CryptoPay is for you. They have been in the industry than any other company has. The physical card has the chip and pin, which is something missing on many other famous cryptocurrency debit cards.
- Most trusted and tenured company.
- Cards can be used worldwide.
- Virtual and plastic cards available.
- No verification for customers with low debit card limits.
- Verification still needed with high debit card limits.
- Charges for loading credit.
- ATM usage costs can be as high as $2.5.
- 1% conversion fee of digital to fiat currency.
CryptoPay website has a 21,678 ranking worldwide and 6,473 ranking in France. They have been visited by over 900,000 visitors in the last 30 days.
If you own some digital currency and are looking for a way to use it instantly, use any of the cryptocurrency debit cards above.
Thanks for reading!
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