Crypto credit cards are a great way to get started with cryptocurrencies and earn rewards on your purchases. But which one is best? There are several benefits of using credit card processing services like Stripe or Paypal compared to traditional payment methods such as cash or check.
Additionally, crypto credit cards are no longer a new concept. They were first introduced in 2013 when Bitcoin was trading at $100 per coin. Since then, there has been an increase in demand for these cards. The main reason for the rise in demand is that these cards allow you to spend your cryptocurrencies on regular purchases without converting them into fiat currency. This makes transactions much faster than other forms of payment.
Crypto Rewards Cards offer an alternative to traditional rewards programs by rewarding users with cryptocurrency instead of cashback or airline miles. Consumers can earn points by using their credit cards to make purchases. Users can redeem these points for gift cards, merchandise, and other items. Users can also use these points to purchase cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Let’s explore the six best crypto credit cards for business.
1. BitPay Card
Bitpay is one of the oldest companies offering crypto credit cards. It provides its customers with various options, including Visa, Mastercard, American Express, Discover, JCB, Diners Club, and UnionPay. The company offers competitive rates and flexible billing terms. Its customer support team is available 24/7 via email, phone, and live chat.
BitPay’s primary focus is on merchants who accept bitcoin as a form of payment. The company claims to have over 10,000 retailers worldwide. Some major brands accepting BitPay include Microsoft, Dell, Newegg, Expedia, Overstock, WordPress, Namecheap, Shopify, GoDaddy, and many more.
The BitPay Card allows users to pay with bitcoins directly from their bank accounts. The process involves converting the funds into USD, depositing them into the user’s account, and transferring the money to the merchant’s wallet. Finally, the BitPay Card features spending limits, fraud protection, and free ATM withdrawals.
- Offers competitive rates
- Allows users to deposit funds directly from their bank accounts
- Enables users to add multiple cards to their wallet
- Does not come with any travel rewards
2. Coinbase Wallet Card
Coinbase is another leading player in the crypto credit card industry. The card offers a wide range of payment solutions, including debit cards, prepaid cards, and e-wallets. In addition, Coinbase supports both BTC and ETH.
Coinbase Wallet Card works similarly to BitPay. First, users need to register for an account and link their bank account. Then, they need to verify their identity before being able to access their funds. Finally, they need to transfer the funds into their Coinbase Wallet.
There are two ways to redeem the reward points earned through the Coinbase Wallet Card. You can either exchange them for cryptocurrencies or withdraw them to your bank account. Generally, Coinbase Wallet Card comes with similar perks as BitPay. However, it does not offer any travel rewards.
- No fees
- Competitive rates
- No travel rewards
3. CoinGate Card
CoinGate is a popular provider of crypto credit cards. CoinGate has been around since 2013 and currently operates in over 100 countries. Its main goal is to provide a safe way for consumers to buy, sell, and trade digital currencies.
CoinGate Card is easy to set up. All you need to do is create an account and select a preferred payment method. After that, you need to upload your ID documents and complete the KYC verification procedure. Once verified, you can start using the card immediately. There’s also a mobile app available for Android and iOS devices.
The CoinGate Card comes with a few different benefits. For example, it allows users to spend their earnings at thousands of online stores. Moreover, it gives out 5% cashback every time they shop at participating businesses. In addition, there is no charge for withdrawing funds from ATMs. Furthermore, the company offers various services such as customer support and insurance coverage.
- Easy setup
- Free ATM withdrawals
- Limited options
4. Wirex Card
Wirex is one of the most established providers of crypto credit cards. The company was founded in 2011 and now serves customers all over the world. It’s similar to other traditional credit cards where users first need to open an account and link their bank account. Then, they need to go through the KYC process by uploading their ID documents. Afterward, they can use the card to make purchases online or offline. They can also use the card to withdraw money from ATMs worldwide.
Wirex Card comes with several benefits. For instance, the card offers 3% cashback on all purchases. This includes gas stations, restaurants, and grocery stores. Furthermore, Wirex Card provides free international transfers, even covering the transaction fee.
Finally, Wirex Card has an extensive network of merchants. Therefore, users can enjoy discounts when shopping online.
- Offers 3% cashback
- Free international transfers
- Large merchant network
- No travel rewards
5. Revolut Card
Revolut is one of the newest entrants into the cryptocurrency credit card space. Founded in 2014, the company has offices in London, New York, Paris, and Moscow. The Revolut Card is completely free to sign up for. Once registered, you’ll be able to access your wallet instantly. Additionally, there is no minimum balance requirement. Instead, you only need to deposit £10 to get started.
You can then choose between two types of accounts. One is called “Classic,” while the other is called “Pro.” Both are fully functional but have different features. For example, Classic accounts come with 2 GB worth of storage while Pro accounts give users unlimited storage.
You can easily send and receive payments via email or SMS with both versions. You can also transfer money to any bank account worldwide. Moreover, Revolut Card comes with a number of benefits. For example, you can earn 1% cashback on all transactions. Finally, Revolut offers a wide range of services, including fraud protection, identity theft protection, and more.
- Free to sign up
- Unlimited storage
- Earns 1% cashback
- Only available in the UK
6. Bitrefill Card
Bitrefill is another new entrant into the cryptocurrency credit card market. It was founded in 2013 and currently operates in Europe, Asia, North America, South America, and Africa. The company offers three main products. These include prepaid debit cards, prepaid gift cards, and prepaid mobile top-ups.
Prepaid Debit Cards allow users to spend their cryptocurrencies at physical locations. For example, you could buy coffee using Bitcoin (BTC). Gift Cards let you pay for things like groceries, electronics, clothing, etc., using cryptocurrencies. Mobile Top-Up allows people to top up their phones directly from their wallets.
All these products work similarly. First, you need to create an account. After that, you can select which product you want to purchase. Then, you need to enter your payment information. Finally, you can confirm your order.
Bitrefill Card comes with several advantages. For instance, it gives you 1% cashback on every purchase. In addition, the company offers a 24/7 customer support service. Moreover, if there is ever a problem, you can contact them through live chat.
- Cashback on every purchase
- 24/7 customer support
- Available in multiple countries
- A limited selection of cryptocurrencies
How do crypto credit cards work?
Crypto credit cards work by converting cryptocurrency into fiat currency. This means they offer similar benefits as traditional credit cards. However, unlike traditional credit cards, most do not require a monthly fee. However, some companies charge fees. The exact amount depends on the type of card you use. For example, VISA charges $5 per month. Mastercard charges $3 per month. American Express charges $0.50 per month.
Read the fine print before signing up if you decide to go this route. Some companies may ask you to provide personal details. This includes your name, address, phone number, social security number, date of birth, etc. If you fail to comply, you might be charged extra. In fact, some companies even report your activity to law enforcement agencies. Therefore, always be careful when dealing with crypto credit cards. You should only trust reputable companies. Moreover, never share your private keys.
Finally, keep in mind that all crypto credit cards are still experimental; therefore, you should treat them as such. As mentioned earlier, many of them have limited functionality. Some of them may even get shut down as new crypto laws are created. That’s why we recommend trying out different ones until you find one that works best for you and your business.
Nowadays, cryptocurrencies are becoming increasingly popular as a primary form of payment. As a result, more businesses are starting to accept cryptocurrencies, and accepting crypto credit cards is a natural progression of the crypto movement. While many crypto credit cards are not about the perks, they are about the use of crypto money; regardless, they are still a viable option for businesses.
While these six cards are the best options available today, we expect more companies will start accepting cryptocurrencies in the near future while more companies will offer crypto credit cards.