Crypto debit cards are becoming critical payment tools due to the growth in popularity of cryptocurrencies such as Bitcoin. While cryptocurrency can be used anywhere in the world, most online and offline merchants do not accept it for various reasons, including a lack of technical knowledge and a lack of regulatory clarity.
Crypto debit cards facilitate customers to pay in crypto, while merchants receive payments in their preferred currency. They serve as on-ramps and off-ramps for crypto enthusiasts.
The list of brands to choose from is growing over time. Most of the crypto debit cards in the market are issued by exchanges such as Binance, Coinbase, and Wirex. Others are issued by membership platforms, such as ClubSwan, which specializes in luxury metal cards.
The following are factors to consider when choosing a crypto debit card:
- The countries it serves
Many crypto debit card providers are limited in terms of the countries to which they ship their cards; for example, Coinbase is mostly targeting American users. However, some brands not only ship to most countries around the world but can also be used in most countries.
- The number of assets it supports
The list of crypto assets is approaching ten thousand. There is hardly any card that supports all of them; however, some support more assets than others. You should find out whether the card you want to order supports the assets you care about or the most valuable cryptocurrency assets.
- Transaction limits
If you often make large purchases or need to withdraw large amounts from the ATM, you must investigate the limits imposed by the card provider before ordering it. The limits also include how much you can convert through the linked exchanges.
- Charges
Indeed, different crypto card providers have different fees they charge. However, considering this factor should not be so much about going for the cheapest option in the market, but rather making your decision based on the best value for money. The fees include shipping fees for cards, monthly subscriptions, and transaction charges.
- Concierge services
Most of the crypto card providers have a customer support component; however, before you sign up, it can be challenging to determine the quality of customer support you are likely to receive. With that said, you can collect some information about this from online reviews.
A few providers, such as ClubSwan, have gone the extra mile and not only help you with accessing their services but also offer support in travelling through an elaborate concierge service.
- The quality of the physical card
A physical crypto debit card is a functional tool for making payments and withdrawing from ATMs. It can also be a way to express your taste to those around you.
This latter function is achieved through designs and the quality of the materials they are made of. The basic card designs are plastic cards, and the most elegant are metal cards.
Over time, the list of choices available to users regarding crypto debit cards is growing. While this is a good thing, it poses a challenge when shopping for one. However, with a strategy that focuses on the critical components, you stand to get the best solution in the market for the price you are willing to pay.
