5 Best Crypto Debit Cards in December 2024 | CoinLedger
💸 Lost money in crypto last year? You can save thousands on your taxes. Learn more 🔍 SURVEY: Most investors don’t know that crypto losses can lead to massive tax savings! Learn more Product How CoinLedger Works Tax Reports NFT Tax Software For Tax Professionals Portfolio Tracker new Integrations Learn Crypto Taxes 101 USA Australia Canada United Kingdom India Ireland Germany New Zealand South Africa Spain Sweden Crypto Tax Guides Blog Learn Crypto Basics About Us Pricing Tax Reports (DIY) Professional Services Sign Up Log in Product How CoinLedger Works Tax Reports NFT Tax Software For Tax Professionals Portfolio Tracker new Integrations Learn USA Australia Canada United Kingdom India Ireland Germany New Zealand Japan Denmark Spain South Africa Sweden Crypto Taxes 101 Crypto Tax Guides Blog Learn Crypto Basics About Us Pricing Tax Reports (DIY) Professional Services Log in Sign Up Tools / 5 Best Crypto Debit Cards in December 2024 Expert verified 7 min read
5 Best Crypto Debit Cards in December 2024
Written by: Dhiraj Nallapaneni Written by: Dhiraj Nallapaneni Crypto Tax WriterDhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
Reviewed by: Jordan Bass Reviewed by: Jordan Bass Head of Tax StrategyJordan Bass is the Head of Tax Strategy at CoinLedger, a certified public accountant, and a tax attorney specializing in digital assets.
Our Editorial Standards: Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More on this pageLooking for the best cryptocurrency debit card? In this guide, we’ll break down the best options for investors based on factors like cashback rewards, fees, and availability by region!
Card provider Why we chose it CoinLedger rating Availability Cashback rewards Crypto.com Best for Benefits and Perks 9.4 rating Available in US, Europe, Australia Up to 5% cashback Coinbase Best for Coinbase users 9.2 rating Available in US Up to 2% cashback Wirex Best Cashback Rewards for US Investors 9.1 rating Available in US, Europe, Australia Up to 8% cashback BitPay Best for Low Fees in the US 9.0 rating Available in US only Variable cashback Nexo Best Credit & Debit Card 8.8 rating Available in Europe 0.5 - 2% cashback Best for Benefits and Perks Learn More Crypto.com Crypto.com’s debit card comes with benefits and perks for users who stake a large amount of CRO (Crypto.com’s cryptocurrency). Cashback rewards are as high as 5%!CoinLedger Rating: 9.4/10 Pros & Cons Cryptocurrency rewards: Crypto.com offers cashback rewards between 1-5%. The more CRO you stake, the higher your reward rate. No annual fees: Crypto.com does not have annual fees. However, there is a monthly inactivity fee of $4.95 if you do not use your card during a month. Subscription reimbursements: Crypto.com offers reimbursements for select subscriptions — like Spotify, Netflix, and Amazon Prime! Need to stake CRO to receive benefits: Most of Crypto.com's benefits are only available to users who stake CRO for at least 180 days. You’ll need to keep your CRO staked to receive your cash back benefits. Highest benefits only available for users staking large amounts of CRO: 5% cashback rewards are only available for users who stake $400,000 of CRO. Withdrawal limits: The Crypto.com debit card has ATM withdrawal limits based on what tier card you have. The lowest tier card — Midnight Blue — only allows users to withdraw up to $200 a month for free from an ATM. Best for Coinbase Users Learn More Coinbase Coinbase offers a VISA debit card funded by your Coinbase account balance. The Coinbase Card offers cashback rewards and is a great choice for existing Coinbase users!
CoinLedger Rating: 9.2/10 Pros & Cons Cryptocurrency rewards: Coinbase offers cashback rewards in different cryptocurrencies. While the Coinbase Card offered higher rewards in the past, the card currently offers 0.5% rewards on cryptocurrencies like BTC and ETH. Coinbase integration: The Coinbase Card is integrated with your Coinbase account! No annual fees: The Coinbase Card has $0 annual fees! Monthly spend limits: The Coinbase Card has a monthly spend limit for users. The spending limit varies based on your activity, but is typically high four figures to low five figures. Long refund times: Customers have complained that refunds on the Coinbase Card take months to process. Best Cashback Rewards for US Investors Learn More Wirex Wirex is a payments platform based in the United Kingdom. The Wirex crypto debit card offers some of the highest cashback rewards in the industry!
CoinLedger Rating: 9.1/10 Pros & Cons High rewards: The Wirex debit card offers cashback rewards from 0.5-8% depending on your pricing plan — the highest of any debit card on this list! Low fees: Wirex does not have monthly, annual, or usage fees! The debit card allows you to withdraw up to $250 free every month via ATM, with a 2% fee afterwards! Availability: The Wirex debit card is available in the United States, United Kingdom, and Australia. Reward structure: Unlike other debit cards on this list, the Wirex debit card only allows users to receive rewards in WXT — Wirex’s native cryptocurrency. Price tiers: The Wirex debit card has three tiers: Standard, Premium, and Elite. Your cashback reward rate and maximum reward per month varies depending on your tier. WXT purchase required: You’ll need to purchase WXT to receive rewards and upgrade to different price tiers. Best for Low Fees in the US Learn More BitPay BitPay is a MasterCard debit card issued by Metropolitan Commercial Bank. While the card was previously known for having 0 conversion fees, Bitpay recently introduced transaction fees of 2% plus 25 cents for most transactions.
CoinLedger Rating: 9.0/10 Pros & Cons Low fees: BitPay has relatively low fees when used domestically. There are 2% plus 25 cent transaction fees, 1% deposit fees, and $2.50 ATM deposit fees. Established company: BitPay was originally founded in 2011 and is one of the oldest-operating companies in the space. Exchange integration: BitPay has an in-built exchange to allow you to buy and sell crypto. Only available in US: Currently, BitPay is only available for American residents. Inactivity fee: BitPay charges a $5 inactivity fee if you do not use the debit card for 90 days. Best Credit & Debit Card Learn More Nexo Nexo is the first exchange to offer a unique credit & debit card. The Nexo Card can be flipped between Debit Mode — which operates like a normal debit card — and Credit Mode — which gives you access to a credit line with your assets as collateral.
CoinLedger Rating: 8.8/10 Pros & Cons Rewards: The Nexo Card offers cashback rewards between 0.5-2%. Your rewards are tiered based on how much crypto you hold on Nexo. Flexibility: Nexo’s Credit Mode allows you to make purchases without disposing of your crypto and triggering a taxable event. Accessible: Anyone with a verified Nexo account and a portfolio over $50 can apply for a virtual card. For a physical card, you’ll need at least $500 in your portfolio. Geographic restrictions: Currently, the Nexo Card is available in the UK and the EU — not in the United States. Charges for withdrawals: Only Nexo Card users in the Silver, Gold, and Platinum tiers get access to free withdrawals. If you’re in the Base tier, you’ll be charged for withdrawals.
What about the Binance Card?
While the Binance Card was previously on this list, Binance discontinued the card for the European Economic Area in December 2023. Because the card is currently not available in the United States and most of Europe, we decided to remove the Binance Card from our top 5.
What factors did you use to determine your ratings?
The CoinLedger team looked at dozens of cryptocurrency debit cards on the market to determine this list. We based our rankings on the following factors:
Reputation of issuing platform/exchange Rewards Availability by region and country Customer support Security features Relevant fees Spending/transfer fees Spend and withdrawal limits Supported cryptocurrenciesHow do crypto debit cards work?
Cryptocurrency debit cards are designed to make it easy for you to use your cryptocurrency holdings for real-world purchases.
Cryptocurrency exchanges partner with companies like Visa and MasterCard to make sure that your crypto debit card is accepted by the vast majority of vendors and merchants.
Here’s how crypto debit cards work:
Load your card with a set amount of cryptocurrency. When you make a purchase, the card will automatically convert your cryptocurrency to fiat currency, then transfer the cash to the seller.Are crypto debit cards safe?
Cryptocurrency debit cards are safe to use.
Cards like the Coinbase Card come with features like two-factor authentication, account freezing, and the ability to change your PIN from your mobile app. Debit cards require you to provide Know Your Customer information to prevent fraud.
Pros and cons of crypto debit cards
Let’s walk through some of the pros and cons of crypto debit cards.
Pros:
Spend cryptocurrency on everyday purchases! Earn crypto through cashback rewards! Low fees compared to other types of cards!Cons:
Spending crypto is a taxable event. Must keep your debit card supplied with cryptocurrency to spend.Can I replace my normal debit card with a crypto debit card?
You can use a crypto debit card to effectively replace your traditional debit card. However, you should consider your own unique situation before replacing your traditional debit card with a crypto debit card.
Crypto debit cards often offer higher rewards than traditional debit cards. Unlike traditional debit cards, you may incur capital gains or losses when you make purchases with a crypto debit card (more on this later in the article).
Can I get a crypto debit card with no KYC?
All of the debit cards listed in this article require customers to fill out KYC (Know Your Customer) information before opening a debit card. It’s unlikely that you’ll find a reputable crypto debit card provider that doesn’t require KYC .
Should I get a crypto debit card or credit card?
The answer to whether you should get started with a crypto debit card or a credit card depends on your unique situation.
The pros and cons of crypto credit cards
Pros:
Build Credit: Credit cards can help users build their credit scores! Rewards: Credit cards also offer generous cashback rewards! Disputes: It’s typically easier to dispute and get refunded for a credit card charge compared to a debit card charge.Cons:
Credit Checks: Credit cards often require a credit check to get started, which can be a barrier for some users. Interest Rates: Credit cards charge interest on unpaid balances, which can add up over time. Potential Fees: Like debit cards, credit cards come with annual fees and other charges.The Gemini credit card is a popular option for crypto credit card users — the card offers benefits like 3% cashback on dining!
How to choose a crypto debit card
Here are some factors you should consider before opening a crypto debit card.
Rewards: Before you choose a crypto debit card, you should understand the cashback reward rate and other potential perks and benefits you can receive.
Fees: Understand what fees your crypto debit card charges before you get started. It’s possible that you may be charged liquidation, foreign transaction, and/or withdrawal fees.
Convenience: Many investors choose debit cards based on convenience. For example, it may be easy for an existing Coinbase user to get started with the Coinbase debit card rather than opening an account with another exchange.
Tax implications: You should research whether your debit card comes with tax implications . Some cards allow you to make purchases with stablecoin — reducing the potential capital gains impact!
Supported cryptocurrencies: Make sure that your crypto debit card is compatible with the cryptocurrencies that you’re planning to use!
Reputation: Take a look at third-party reviews on sites like Trustpilot to see what users are saying about the debit card you're interested in!
How are crypto debit cards taxed?
When you convert crypto to fiat currency, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it.
Crypto debit cards work by converting cryptocurrency to fiat currency at the point of sale. This means making purchases on a crypto debit card will be subject to capital gains tax .
To minimize taxes , many investors choose to fund their debit cards with stablecoin . Because stablecoins are pegged to the US dollar, the associated capital gain from a disposal will be close to ‘0’.
Are cashback rewards taxed?
Based on previous IRS guidance, crypto cashback rewards will likely be considered a non-taxable rebate. However, your cashback rewards will be subject to capital gains tax upon disposal.
To better understand how your debit card is taxed, check out our guide to crypto debit card taxes.
Frequently asked questions
Is there a debit card for crypto?Yes. Platforms like Crypto.com and Coinbase offer debit cards for cryptocurrency.
How do I get a crypto debit card?To get started with a crypto debit card, you’ll need to sign up with a relevant exchange and verify your identity. Most crypto debit cards do not require credit checks.
Are crypto debit cards safe?Crypto debit cards typically come with security measures like two-factor authentication — meaning they are safe to use.
Where can I use crypto debit cards?Most crypto debit card providers partner with companies like Visa and MasterCard — meaning you can use your crypto debit card anywhere these cards are accepted.
Can you withdraw money from a crypto debit card?Typically, you can withdraw money from ATMs using a crypto debit card. However, most debit cards have a monthly withdrawal limit.
CryptoTrader.Tax is now CoinLedger. Learn more ADDITIONAL RESOURCES Best crypto wallets Best crypto tax software Best crypto portfolio trackers Track your crypto portfolio for free. Join 500,000 people tracking their gains and losses with CoinLedger.
Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
About the Author Reviewed by: Jordan BassHead of Tax Strategy
Edited by:
KNOWLEDGE BASE
Demystify Crypto Taxes
The Ultimate Crypto Tax Guide (2024)
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out.
Crypto taxes overviewCrypto Tax Rates 2024: Complete Breakdown
Here’s how much tax you'll be paying on your income from Bitcoin, Ethereum, and other cryptocurrencies.
Crypto tax ratesHow Crypto Losses Can Reduce Your Taxes
Crypto and bitcoin losses need to be reported on your taxes. However, they can also save you money.
How crypto losses lower your taxesCalculate Your Crypto Taxes
No credit card needed Instant tax forms No obligations Get Started For Free Crypto taxes done in minutes. United States United States Australia Canada New Zealand Germany Japan Ireland Austria Switzerland Denmark Spain France Sweden South Africa United Kingdom Product How It Works Reviews Pricing Tax Professional Suite Tools Crypto Tax Calculator Crypto Profit Calculator Crypto Portfolio Tracker Crypto Balance Checker CryptoDashboard Bitcoin Rainbow Chart Bitcoin Dominance Chart Crypto Converter Crypto Fear and Greed Index Company About Us Partner With Us Careers Press Contact Us Compare Blog Support FAQs Help Center Security Legal Terms & Conditions Privacy Policy Disclaimer User Links Crypto Tax Guides Affiliate Program Find a Crypto Tax Expert Tools Login Annual Crypto Tax Report Country Site Map Agencies Crypto Lawyer Directory © Copyright 2024 - Coin Ledger, Inc. Contact Support Jump to