Are you looking for the best crypto debit and credit cards to spend your profits on? Crypto cards are here to stay, with major crypto exchanges and brokers launching debit and credit cards to easily allow you to spend crypto in a wide range of products and services.
Besides the ease of payment by instantly converting your crypto balances to FIAT, many crypto debit cards offer cashback rewards and other benefits.
Today, we’re exploring the 13 best crypto debit and credit cards available for crypto holders in 2022, from the US to the Euro area.
In this article:
Learn how CoinTracking automatically calculates your gains/loss in each crypto debit card purchase
What is a crypto debit card?
Crypto cards are regular debit or credit cards where you can purchase goods with real-time crypto to FIAT conversion.
Usually, crypto exchanges/platforms partner with payment networks (e.g., Visa, Mastercard) to let customers instantly convert their crypto holdings into FIAT to make purchases in Points of Sales (PoS) from merchants that support those networks.
Do I pay taxes on crypto debit purchases?
Recently, we put together a guide about the taxation details when making purchases with crypto debit cards for U.S. residents.
According to the IRS guide, a crypto-to-fiat transaction is a taxable event. When you’re purchasing with a crypto debit card, you incur in that taxable event. For more details and tax simulations for similar cases, please check this comprehensive guide.
In short, you’ll have to recognize a gain/loss each time you purchase with a crypto debit card because you’re essentially selling your crypto for FIAT. In those cases, the cost basis on each purchase will be the amount you paid to acquire the cryptocurrency you used to purchase with your crypto debit card.
We encourage you to check the tax settings in this article if you’re planning to buy services or goods with cryptocurrency, even without using a crypto card.
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How do I get a crypto debit card?
You can find the best thirteen crypto debit and credit cards available for European (including the UK) and US customers in this list.
The providers in the list differ in the rewards they offer back in crypto, in the choice of cryptocurrencies to purchase goods with, and in their fees/limits.
Here are the 13 best crypto debit and credit cards in 2022.
Here are the 13 best crypto debit cards in 2022
1. Binance Visa Card
Binance is the most popular exchange in the world and offers a crypto card since 2020.
With the Binance crypto card, you can easily transfer your crypto funds from your spot wallet to the card wallet and start making payments with the card after going through all the activation procedures.
Binance crypto debit cards convert in real-time your crypto balance to FIAT (e.g., Euros) when you make a purchase, currently supporting the following assets: BNB, BUSD, USDT, BTC, SXP, ETH, EUR, ADA, DOT, LAZIO, PORTO, SANTOS.
The physical card has an $8,700 daily purchase limit and it offers up to 8% in cashback rewards when making purchases with the card. Binance crypto cards are available for users in most European countries (excluding the U.K.), and other regions, but it is not available for U.S. customers.
2. Crypto.com Visa Card
Crypto.com crypto card is a prepaid card giving you the chance to make purchases from your Crypto.com account as a regular debit card.
The company currently offers five types of crypto debit cards. The different tiers vary in the staking amount (in CRO) that users need to do for at least 180 days and the percentage that Crypto.com offers in rewards (from 1% to 8% in CRO). Moreover, different tiers offer different discounts from partners (e.g., Spotify, Netflix, Amazon Prime) and card limits (e.g., free ATM withdrawals).
Crypto.com crypto cards announce no monthly/annual fees and setup/shipping fees but charge 50$ for account closure. You can find more information about fees and limits on your account settings.
Currently, the Crypto.com card is available for most European customers (including the U.K.), the U.S., Canada, and some countries in Asia.
3. BlockFi Bitcoin Credit Card
BlockFi crypto credit card is one recent addition to the list of card providers. They are currently accepting applications for this new product. Customers interested in the BlockFi card will join a waiting list as the card is still not available for a wider audience.
BlockFi partnered with Visa to launch this credit card, where customers have a credit limit in USD each month to spend while gaining rewards in Bitcoin.
The card is offering 3.5% crypto rewards in the first 90 days of owning the card or until you spend $5,000. After the 90 days or after you spend $5,000 with the card, the rewards decrease to 1.5%.
The card is currently available for residents in the U.S (excluding New York).
4. Gemini Crypto Credit Card
Gemini is the latest crypto exchange to launch a crypto credit card for U.S. customers.
The exchange partnered with Mastercard to offer a crypto credit card in the U.S., offering real-time rewards in Bitcoin or more than 60 other cryptocurrencies. The card offers distinct cashback (in crypto) percentages depending on the type of purchase made. For example, if paying for a dining experience, the Gemini card will offer 3% back, while 2% on groceries and 1% for other types of purchases.
Furthermore, customers will have access to Mastercard’s benefits program, gaining more discounts and rewards. The card will not charge any annual fee.
5. Coinbase Card
Coinbase currently offers a crypto debit card for Europeans (including the U.K.) and U.S. customers (excluding Hawaii), but fees, limits, and specifications differ across regions.
For U.S. customers, Coinbase’s card allows you to spend with UDSC and other cryptocurrencies.
European customers currently do not have access to crypto rewards, while there are multiple fees for transacting/withdrawing. Currently, European customers can use BTC, ETH, LTC, BCH, BAT, REP, ZRX, or XLM to make purchases. Moreover, the card has an issuance cost of £4.95/€4.95.
6. Multicurrency Wirex Card
Wirex card allows you to spend your crypto where VISA and Mastercard are accepted, with real-time conversion when the sale occurs.
The card offers unlimited monthly spending and free ATM withdrawals of up to €400/month while offering rewards of up to 2% in WXT (online and in-store purchases).
The multicurrency Wirex card is available in most European countries, Hong Kong, Australia, and other countries, but not in the US.
7. BitPay Card
The BitPay App lets you buy, store, and swap cryptocurrencies, while the BitPay Card allows you to spend that crypto across millions of brands.
You’ll need to install the BitPay App and order your card to start enjoying crypto purchases with zero fees. The prepaid debit card supports the most popular cryptocurrencies, but it’s only available for US customers.
8. Nuri Debit Card
Nuri Debit Card lets you spend bitcoin directly from your Nuri account by converting it to Euros.
You can use Nuri Debit Card in locations where VISA is accepted and enjoy free ATM withdrawals up to €10,000 monthly.
The Nuri Card is available for customers in the European Economic Area (EEA), Switzerland, and the UK.
9. Unbanked Debit Card
The Unbanked Blockcard is a crypto debit card that lets you purchase wherever VISA is accepted while integrating with Apple Pay, Samsung Pay, and Google Pay.
The Unbanked Debit Card is an online and physical card where you can hold your crypto until each purchase. When you fund your account, your crypto is converted to Unbanked’s token - UNBNK - and then spent when you make the purchase.
The Unbanked Blockcard supports the most popular cryptocurrencies, offering up to 6.38% API on their staking program, and it is available for US customers.
10. Voyager Debit Card
The Voyager Debit Card is a USDC-backed card that lets people spend their USD Coin (USDC) from your Voyager account anywhere Mastercard is accepted.
With the Voyager Debit Mastercard, you can also earn up to 9% rewards in USDC, with no annual fees.
Voyager is currently accepting reservations for the launch of the card while offering a special Loyalty program for VGX - Voyager’s token - holders.
If you use Voyager to trade or spend crypto, you can download a CSV and import all of your operations into CoinTracking to help prepare your crypto taxes.
11. Nexo Card
The Nexo Card allows you to spend your crypto at 40+ million merchants directly from your Nexo wallet.
The Nexo debit card offers up to 2% cashback (in NEXO Tokens or BTC), up to €10,000 in ATM withdrawals per month, connection to Apple Pay and Google Pay, and free virtual cards.
You can import all of your Nexo trades into CoinTracking and simplify your crypto tax journey.
12. SoFi Credit Card
The SoFi Credit card offers you 2 SoFi Rewards points for each dollar spent on the card, which can be redeemed into crypto.
With the SoFi Credit card, you can save and invest while also paying down your SoFi credit. If you make 12 monthly payments on time, your APR will go down by 1%.
The card offers more benefits to selected partners while having no annual fee.
13. Bitpanda Card
The Bitpanda Card is a crypto debit card, enabling you to spend cryptocurrency, metals, and stocks directly from your wallet.
The card has no card or monthly fees, allowing you to spend wherever VISA is accepted (40M+ merchants). VIP clients can also enjoy between 0.5% to 2% cashback per transaction, among other benefits.
Import all of your Bitpanda trades into CoinTracking to easily track your crypto gains and taxes.
Learn how CoinTracking automatically calculates your gains/loss in each crypto debit card purchase:
We encourage you to follow follow our regular content about navigating crypto taxes as well as the best crypto guides:
Do you pay taxes when trading stablecoins?
How is Yield Farming Taxed?
DeFi Taxes: The Complete Guide.
How to save taxes with a Bitcoin IRA.
Do you pay taxes for receiving Bitcoin tips?
Uniswap Taxes Guide
How to calculate taxes with Bitcoin dollar-cost averaging?
FIFO for crypto taxes? Implications of accounting methods.
NFT Taxes: The Complete Guide.
2021’s NFT guide (with taxes).
Is Bitcoin taxable? The ultimate guide for 2021 taxes.
Do you pay taxes on Bitcoin debit cards purchases?
How to reduce your crypto taxes?
Crypto tax loss harvesting: Here’s what you need to know
Become 100% crypto tax compliant with CoinTracking: the best crypto tax software
CoinTracking covers all your crypto tax needs. Our crypto tax software makes it easy to import your trades, get your gains calculated, and generate the appropriate tax reports.
CoinTracking supports more than 100 exchanges, including DeFi, NFTs, Binance Smart Chain, MATIC, and much more.
After importing all your crypto trades, CoinTracking automatically calculates your crypto capital gains and losses, while you can choose between 12 accounting methods (e.g., FIFO, HIFO, HMRC, ACB), depending on which country you are in.
Moreover, CoinTracking can generate ready-to-go tax reports for your country.
Disclaimer: All the information provided above is for informational purposes only and should not be considered as professional investment, legal, or tax advice. You should conduct your own research or consult with a professional financial advisor when investing.
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