Review of Most Popular Crypto Cards on the Market

Today, making payments with crypto is easiest than ever, and cryptocurrency cards play a significant role in this trend. The idea behind this payment method is to link a traditional debit card to a new source of funds — cryptocurrency. Typically, cryptocurrency is stored in wallets and can only be spent in stores that accept crypto payments or have direct crypto processing. This is a separate infrastructure that needs to be implemented and supported. Although it is already quite popular, not all merchants have added crypto payments to their checkouts. Especially if we are talking about offline points of sale, which lack this functionality.

Crypto cards were created to address this gap using existing payment systems. Thus, provider offers a service for cryptocurrency storage and exchange for fiat currency at the time of transaction at its own internal exchange rate. Usually, this service is provided by crypto exchanges, as they have all the infrastructure for it. However, other fintech companies created for everyday transactions and personal use can also offer crypto cards. Therefore, at any moment, user can store cryptocurrency balance and make fiat payments in retail networks where Visa or Mastercard accepted, using this balance. Since payments at POS terminals are mostly processed in traditional currency, crypto card provider exchanges your digital assets for fiat to assure the necessary balance for each payment. And payment goes through as usual, as if you were paying with a bank card.

Today, we will review a few of the most popular crypto cards, among which you will surely find interesting options for yourself.

Wirex Card

One of the most popular on the market, the Wirex card with cashback from Wirex, has already gained a reputation and a stable user base. The card is available in the Wirex app itself, but note that not everyone has access. So far, it mainly covers the EU and the USA, and the terms and conditions for storing crypto also vary by location.

The card can be physical or virtual and is accepted in most places where you can pay with Visa or Mastercard. The card can be linked to wallets and withdraw cash from an ATM without a fee if the amount is less than $250 per month. The Wirex card has been operating for quite some time, and users note its convenience and UI/UX, which are superior to any praise. This is roughly what you would expect from a modern crypto product that combines the main advantages of fiat and cryptocurrency economies. Within the Wirex app, you can buy crypto, which will become the source of funds for the crypto card. Or you can replenish it directly in crypto and get access to direct crypto transactions, linking it with the traditional economy.

A distinctive feature of this card is Cryptoback—an analog of cashback that allows users to receive rewards in cryptocurrency for each purchase made with the card. According to the official Wirex website, the company charges 2% of the amount when converting cryptocurrency to fiat at the time of purchase completion in the store. It is important to note that the system may also have exchange rates different from those used by other services, crypto exchanges, and banks.

Ledger Card

A card created by popular hardware wallet Ledger, which can be a very reliable instrument for storing your assets. This card is integrated with Ledger ecosystem and Ledger Live app, providing it with a very high level of security.

Supported by Mastercard, Ledger Crypto Card can be used in any store that accepts Mastercard cards. It is important to note that crypto card service is provided through a contractor, Baanx, which can perform the actual money exchange. All other features are pretty standard and hardly differs from alternative cards. Ledger focuses on security, as this is for sure its strong point, so there are plenty of admirers of its services. Ledger Crypto Card is available only in Europe and the UK, but expansion of available countries might happen in the nearer future. Any country restrictions happen mainly due to the local legislation of each country that may vary. Undoubtedly, every business would want to provide services in more countries, but for now, the situation with crypto is not flat everywhere, so they are quite limited.

Binance Card

Probably the most popular among users is crypto card from Binance exchange, which, due to its trading volumes, is often considered the largest in the world. Binance was quick to attract attention and offer this service to users, as many already had accounts on the exchange itself. At the same time, the pricing for Binance card can be much more advantageous than those of other providers due to exchange rates and lower fees.

Binance Card is convenient thanks to its functionality through the familiar Binance app; it does not require additional settings or downloading another app. A unified system for managing all assets gives Binance an advantage, as well as an understandable UI/UX. However, it is important to note that Binance has stopped providing card services in Europe since 2023, and other regions, including Latin America and the GCC countries, have also been put on hold. Little has been said about the reasons for service suspension in Europe, only that their nature is regulatory and company can no longer comply with the requirements of laws in there. The largest exchange, Binance, is often at the center of toughest scrutiny, its activities are constantly questioned and monitored by various governments. So, what to say, we can see that good product and a convenient exchange app are not enough for 100% legal operation.

Trustee Card

Trustee is a Lithuanian fintech with more than 1.5 million users, providing services for crypto enthusiasts. Among them are wallet and crypto card.

Trustee card is designed for individuals for everyday use in purchases. The card operates on Mastercard payment system and can be both virtual and physical. The cost of a virtual card is 10 euros, and physical card is 25 euros. Both cards are valid for 5 years, and terms and conditions are also practically identical. The exchange of crypto to euros costs 0.5%, and ATM withdrawal is 1.5%.

Trustee card can be opened in the main app by completing necessary verification. The services are available in European Union, which is already a common practice for this type of cards. The reason for such an abundance of crypto card options in the EU can be called relatively clear legalization procedures and regulatory rules. Lithuania is generally considered the home of European fintech, as the National Bank in this country most actively supports development of this sector. According to user reviews, Trustee Card most often wins in terms of convenience and availability, as well as exchange rates.

WhiteBit Card

The major crypto exchange also did not stand aside and released its own card on exchange infrastructure. WhiteBit Card, based on Visa payment system, is free, has no service fees, and no replenishment fees. WhiteBit crypto card also offers a crypto cashback for various services, including gaming sites and subscriptions. However, cashback is limited to 25 euros per month, which should also be considered.

The card can be added to Apple Pay and used for contactless purchases with a phone or smartwatch. To obtain this card, users must go through the identity verification process (KYC). It includes sending documents confirming identity and phone number verification. After completing and approving the KYC, you can get a virtual crypto card ready for use. The card will be activated immediately after successful verification, but only if user themselves is approved for it. Each case is considered individually and also depends on the country of residence.

In conclusion, each of crypto cards reviewed today offers almost identical functionality. The differences may lie in fees, additional services, cashback, and regional features. Therefore, when choosing such a right card for yourself, consider these points first. Although the issuing company is very important, main thing to study are all the terms of use. As this will help to avoid unexpected additional costs. A crypto card is a great way to spend cryptocurrency in real life without unnecessary hassle, but this service is not cheap: fees and exchange rates can amount to significant figures. So, stay alert and read MonoTalks!