Although the list of stores that accept Bitcoin is constantly expanding, it is not always possible to make all our purchases with this Cryptocurrency. The Good news is that we can order our own BTC debit card and thus enjoy its ecosystem while we pay with cryptocurrencies.
It Is quite simple, because there are many companies that allow us to do something like that. These debit cards are a bridge between the world of Bitcoin and the traditional financial sector.
In this way, we can get a debit card, even credit, which then serves us to spend anywhere they accept one regardless of their funds.
It should be mentioned that the debit cards that we will see in this guide do not allow us to spend the bitcoins directly. Instead, it allows us to use the main Cryptocurrency as funds to pay the expenses we make with it.
The biggest attraction of this is that the balance is maintained in it until we decide to use it, with the peculiarity that the transaction is done in a few seconds. Unlike the prolonged confirmation time when it is performed exclusively on the Bitcoin blockchain.
With This tutorial we will discover the best solutions in this section. And It is that despite all the progress that Bitcoin has achieved in recent years, we are still far from the fact that this new form of currency is adopted around the world as if other means of payment like PayPal do. While we wait for the transition to happen, we have many ways to spend our BTC.
Advantages and disadvantages of using a Bitcoin Debit Card
Some of the advantages we have already mentioned, and they are something obvious. Today virtually all over the world accept a credit or debit card, so they can afford to pay with one that has been pre-loaded with balance paid in Bitcoin. Something that opens the doors to buy anything we want with this Cryptocurrency.
For The merchant It is no problem added, as these receive payment in fiat currency through the company that issued the card and we are debited from our balance in Bitcoin. Thus, more and more we approach the dream of being able to live only with Criptos.
Many people when they travel often use these debit cards as a backup in case they steal or lost the money they had taken with them. It’s Never too much to have an extra form of funding.
When you think of Cryptocurrency think of decentralization, something that with these cards is lost. Funds need to be deposited in the company’s account so that we can use it. Which entails giving control of our currencies to a third party.
We Can mitigate this risk by depositing small amounts of BTC, but that amount will depend on what require in the future. The ideal is an amount with which we feel comfortable in case of a hack. Although If the number is too small we begin to lose the advantage of using one of these debit cards.
The Other negative aspect is that, because it is an extra service offered by a company, we must pay a price for it. That translates to commissions that we don’t have when we only operate directly with the blockchain.
Now that we know all this, let’s start the list with eight cards that currently offer us this service and what is the details of each one of them.
BTC Debit Cards
The new Coinbase card is linked directly with our personal funds in Cryptocurrency in the wallet we have with the exchange. This is one of the latest products launched by the leading company in this sector.
If We want one of these cards, it will be associated with the account of our user Coinbase but with a different app that is available for the two most popular operating systems for mobile devices, Android and IOS.
With it we can make cash withdrawals in an ATM that supports VISA anywhere in the world or even make payments at points of sale where they have chip and pin technology or without contact.
The commissions are perhaps their worst attraction, because that’s why service we must pay 2.69% for each transaction made. 1.69% is part of the Commission by conversion, and the remaining 1% is the commission of the transaction itself. The Good Thing is that unlike other similar cards, we have no maintenance preserves or commissions added by the ATM.
Commissions are shot when we use the card in countries outside Europe, where we can get a 5.49%. According To Coinbase itself, we can expect more support from countries in the future and therefore a drop in commissions. Yet even if there are no plans to launch it in the United States.
The oldest and best known debit card is Cryptopay, which has more than 23,000 issued worldwide. Let’S See What your numbers are and how interesting it can be for someone to have one.
Cryptopay offers a Bitcoin debit card available worldwide, making it easy for customers to spend bitcoins in millions of businesses.
The benefits is that it can provide funds in three types of fiat coins very widespread in its use: dollar, euro and ruble. We can Even buy it using one of these or Bitcoin. The biggest counter we found is that its price is slightly higher than the average.
With Uquid We have guaranteed the use of cryptocurrencies like Bitcoin, Ethereum, Dash, Litecoin, Ripple, Nero, PIVX and other 75 more. In this way, customers can immediately convert a growing list of digital currencies into dollars, pounds and euros, and thus preload a VISA debit card.
With This, Uquid allows its users to benefit from all those advantages that we discussed earlier with their debit card, using real market prices and without many complications. This translates to managing money in a completely secure way.
People who are not within the banking system or people traveling around the world can get a VISA without the need for identification or an investigation of their credit past. Shipping is free and fast to more than 178 countries around the world.
It Is A relatively new company, but allows you to link your PayPal account and has a validity of 36 months once issued.
This is a card offered by the team formerly known as Monaco Coin, so it works linked to the purse MCO. This allows to spend the cryptocurrencies in more than 40 million stores that accept worldwide.
Crypto.com list of advantages rivals almost any of the best VISA reward cards. Users can use it without paying any annual maintenance costs, get free shipping, refunds up to 2% on purchases, and select cards get unlimited access to the VIP Lounge at airports.
Users have the possibility to spend abroad and receive interbank exchange rates. It Has a platinum-referral rewards program.
SpectroCoin offers us a prepaid card that I know you pay with Bitcoin, which can be denominated in Dollars, euros or pounds sterling. Its main attraction is that it can be recharged instantly, eliminating the concern of having to exchange our BTC in advance for use. It can be used in several ATM around the world and buy as if it were an ordinary card.