Cryptocurrencies have gone mainstream as an increasing form of asset. Still, do you have the idea that you can use them as cash also? We do have more options than before in respect to paying our products in Bitcoin that can go through crypto credit cards and debit cards. Bitcoin credit cards are a rewarding and helpful way to shop.
What Are Crypto Cards?
Crypto debit and credit cards are the same as our normal credit or debit cards. The only difference is that you are using digital currencies to pay for the service or products. Now you know that no one directly pays with Bitcoin, Ethereum, or any other cryptocurrency. When you use these cards, your cryptos are converted into the local fiat currencies and are then sent to the payer.
Cryptocurrency based credit cards are assisted by Visa and MasterCard, which are the two most famous financial networks across the globe. In the urge of getting the consent from the entity, a crypto organization will issue a crypto card to you that will be used in any store that accepts payments from Visa or MasterCard. Visa has the best crypto credit cards Canada.
Should You Own Crypto Credit Cards?
With the rise in digital currency, having a crypto credit card will benefit you. One of the biggest pros of having a crypto credit card is that paying for the service or products through your cryptos but without bearing the extra charges of converting them into fiat.
Usually, the banks charge extra fees for the credit cards that they provide. But with crypto credit cards the fee is free if you spend the amount that is limited for a year. Along with that, there are crypto rewards credit cards that provide you rewards on using the credit cards. Moreover, the value of your crypto rewards might increase after you get them. However, crypto rewards might look attractive initially but they are highly fluctuating. They very much like investing in stocks.
Top Crypto Credit Cards
In the above section, we have discussed the meaning and uses of crypto credit cards. A crypto credit card is a card that enables you to pay for any product or service that you take in crypto that is automatically converted into the local fiat currency during the payment. With the increasing popularity of digital currency, a crypto credit card can play an important role in the crypto market.
In 2021 more crypto based cards for payments were introduced. We can expect more crypto based cards to come into the limelight. Let us have a look at some of the top credit cards using cryptocurrency.
Gemini Credit Card
This crypto credit card will pay up to 3% back in Bitcoin or any other crypto with every purchase. But they have not yet disclosed its yearly charges or its rewards. But this card guarantees on charges on the exchange of crypto to fiat. This will be available in each of the 50 states.
BlockFi Bitcoin Rewards
With BlockFi credit cards, the cardholders can make 1.5% of cashback in Bitcoin on all purchases. Along with that, there is a signup bonus as well. Additionally, you can have rewards of 3.5% in months four to six of card possession. Along with that this crypto rewards card makes you interested in your rewards and also provides you crypto rewards on referrals.
Crypto.com Credit Card
Crypto.com is an absolute choice for users who are wishing to earn rewards. Crypto.com credit cards provide some extraordinary perks like 100% cashback on Netflix, Amazon Prime, Spotify memberships, and many many more. Till now there are no Crypto.com credit card fees and the Crypto.com credit card reviews are really good. You can choose this.
Wirex is another safe option for credit cards based on crypto. Wirex is probably the most stable organization in the crypto credit card UK domain to provide these services. As soon as the payment is done, the Wirex Visa card will automatically transfer the advanced resources of yours over to the local fiat currency at the best OTC and interbank rates without you paying any extra exchange fees.
Coinbase Crypto Card
The Coinbase card is indeed a remarkable choice that was first launched in Europe in 2019. This card is believed to be the second best after Crypto.com’s card. In the light of payment with Visa framework, it supports 9 distinct digital currencies.
With the advent of crypto credit cards, many aspects of digital currency have been simplified. People have now got the reason to buy cryptos as they can perform real time activities with these cards. The above is the list of the top 5 cryptocurrency credit cards that have enabled easy transactions and built the trust of their customers.
Frequently Asked Questions On Crypto Credit Cards
There are few credit cards that offer crypto as a reward or an option for the redemption of rewards. Two examples are the Brex Card and SoFi Credit Card. Two other forthcoming examples: the Gemini Credit Card and the BlockFi Bitcoin Rewards credit card.
Cryptocurrency credit cards are the same as our normal credit cards. The only difference between the two is that in the case of crypto coin credit cards you are using digital currencies to pay for the service or products.
With some crypto reward cards, you might be stuck into a single currency or just a few. If you instead use cash-back cards for rewards and utilize that money to purchase crypto, you can buy whichever currency you want.