Compare Bitcoin Debit Cards
Bitcoin debit cards are a new, but very practical use for cryptocurrency owners. They let you load up your debit card with Bitcoin and spend cash (fiat currency) – cutting out the middle man. Instead of using a Bitcoin exchange, waiting for the trade to complete, then transferring the fiat into your bank account, you can directly deposit Bitcoin to your card and turn it into spendable cash almost instantly.
Bitcoin Debit CardsHere is our full list of every Bitcoin debit card that is available today. Compare cards below based on the criteria listed on the chart or read reviews from other users.
|BTC, USD, AUD, EUR, GBP, MXN, NZD, USD, ZAR||$9.99||Reviews||Buy|
|BTC, USD, EUR, GBP||$15.00||Reviews||Buy|
How to Get a Bitcoin Debit Card
Virtually anyone can get a Bitcoin debit card, and applying for one is simple. Just head to the website that’s offering the card and sign up through their application process. At BitPay, for example, the process takes only a few minutes to complete – fill in your name and personal information, then enter the shipping address and pay for your card. Once you are approved, the company will mail the card out to you.
After you have received your card in the mail, you can load it up with some Bitcoin and start spending fiat currency anywhere that accepts your card type. Most Bitcoin debit cards allow you to spend your money both online and at physical stores. The most popular provider of Bitcoin debit cards is Visa, so you will be able to use your card at any location that accepts Visa.
Eligible Countries and Currencies
Each Bitcoin debit card is issued by a different company or financial institution. The currencies and countries each individual debit card supports may vary and can include USD, EUR, GBP, AUD, MXN, NZD or ZAR. As Bitcoin becomes more mainstream it may be offered in additional currencies, but for now it is limited to only a few of the largest fiats.
Best Bitcoin Debit Cards
While there are a lot of different companies and financial institutions that offer Bitcoin debit cards, only a few have been around long enough to have established a good reputation. When you are starting your search to find the best Bitcoin debit card, make sure you find a suitable card with reasonable application & transaction fees as well as transaction limits that fit your individual needs.
Below we have outlined the most popular Bitcoin Debit Cards for you to compare. We have done some research on each debit card, and shared this information in review form on each page. You can also head to the reviews page to read feedback left by other users on our website.
BitPay Debit Card
The pre-paid Bitcoin debit card from BitPay is one of the most popular options currently available. They have an easy to use interface and a low one-time application fee of $9.99 which covers all shipping and handling charges.
Expedited shipping options are available for an additional fee also. Once you have your card, there may be other fees such as ATM fees and foreign transaction fees, but they are reasonable and in-line with most traditional debit cards.
CryptoPay Debit Card
The CryptoPay Debit Card is another one of the most popular Bitcoin cards available today and it supports EUR, GBP and USD. It costs $15, which is slightly more than others, but the card is available with a chip to add an extra layer of security. Expedited shipping options are available worldwide.
The fees associated with using a CryptoPay card are minimal, and the limits are high which can be a plus if you are spending larger amounts of money. ATM fees are $2.50, which is in-line with most other debit cards. It is worth noting that the CryptoPay Debit Card is not available in he United States.
How Do Bitcoin Debit Cards Work?
Most Bitcoin debit cards are part of the Visa pre-paid card program. This means that you need to load up the card similar to how you would with a gift card at a store. Simply send funds from your Bitcoin wallet to the card via an invoice that is generated by a Bitcoin payment processing service.
One popular company that offers this service is BitPay. You will select the amount of USD (or other fiat currency) and they will generate an invoice in BTC. Then, send the amount of Bitcoin listed on the invoice to the BTC address on the invoice. Once the transaction is approved on the Bitcoin Blockchain, they will be available as USD or fiat funds on your card and you can start spending immediately.
Bitcoin Cards: Bridging the Gap Between Crypto and Fiat
Before Bitcoin debit cards were introduced, the only way to convert your Bitcoin into USD, EUR or other fiat currencies was by using an exchange service. This meant that if you needed some cash and had Bitcoin, you had to send the BTC from your personal wallet into and exchange wallet like Coinbase, then initiate a sell order. Once you had done this you would sometimes have to wait up to 5 days to receive the funds; a very long and complicated process.
Once Bitcoin debit cards were introduced to the marketplace, it alleviated some of those complications – allowing a simple and immediate way of transferring your BTC balance into fiat currency.
Are Funds on Bitcoin Cards Insured and Safe?
Depending on the card issuer, some Bitcoin debit cards are FDIC insured (if in the USA). This means that the funds on the card are covered and insured by the FDIC. That is because the cards are issued by banks or financial institutions using Visa in most cases (for the U.S. and Europe).
One potential issue I have noticed is that some Bitcoin debit cards do not have a security chip which means they could be susceptible to fraud and stolen information. If you are looking for a more secure card, make sure you choose an option that offers the chip before ordering. Whether or not you’re able to dispute unauthorized charges will also depend on the card issuer.