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Debits cards in the cryptocurrency industry
There has been a recent movement happening within the cryptocurrency industry with the rise of cryptocurrency debit cards, in order to facilitate cryptocurrency transactions.
Cryptocurrency debit cards for ether work just like any regular prepaid debit card, in terms of depositing credit on the card in order to do purchases. Individuals looking to spend their Ethers offline or online in a fast moving and convenient manner will find these cards very useful. In this case applying for an Ethereum debit card will make sense for these needs.
Best cryptocurrency debit cards
Monaco cryptocurrency debit card
Monaco crypto debit card is made out of plastic and it enables its users to exchange Bitcoin or Ethereum back into fiat currencies at anytime at the current market value.
The TenX cryptocurrency debit cards will also offer these same features for user rewards up to 2% in cash backs for all purchases. There is also a feature allowing for apps which can be synced with the card, which gives the user power to activate and deactivate the card when needed.
Monaco is regarded as one of the best-selling crypto cards on the market, with more than 200 million in market value.
Uquid cryptocurrency debit card
Uquid is issued through a British company while it provides both plastic and virtual debit cards. It has now become one of the most popular cryptocurrency debit cards in the Blockchain community.
Through the application of Ethereum, the company has started to support more than 80 different assets including Litecoin, Monero, Dash and Ripple XRP.
Uquid also offers fiat-currency support for three different currencies; EUR, USD and GDP. Furthermore, all cryptocurrencies are spent at current market value prices and it is taken from the users cryptocurrency wallet.
Most crypto or blockchain related travellers or individuals with no direct banking agreement prefer to use this method for their personal transactions.
The card is used to make various payments for a variety of products and services from retail to pharmaceuticals, mobile payments, public transportation and even for home utilities.
All Uquid crypto card owners will be able to make transactions with gambling sites, PayPal and freelancing among others. One of the big advantages that users will have with the Uquid cryptocurrency debit card is the ability to withdraw from ATMs or BTMs, in more than 34 different countries worldwide.
TenX cryptocurrency debit Card
Ethereum also has the TenX cryptocurrency debit cards provider available from 2019. It is a very versatile and attractive reward system that is being developed for its users.
This card will charge no additional transaction fee, with bonuses for users of the card with the possibility of earning over 0.01% in cash backs, together with other platform rewards.
The TenX card will allow users to spend their Ethers in almost 200 countries and users can be able to spend more than 42 million points both online and offline. The TenX platform has managed to raise nearly 65 million in its crowdfunding pre-sale.
This cryptocurrency debit card will allow for multiple currency management due to the fact that it is running directly with the Blockchain technology.
Users of Token card will be able to convert their cryptos back into fiat currencies like USD, EUROS and GBP if they so choose. Token card will also have partnerships with Bancor, Melon port and Digix.
Furthermore, the company will enable consumers to access cash backs through their own cash and burn system on the platform. For investors who want to contribute to ICOs and Token card developments, Token card will allow for the participation of exchanging and receiving ICO tokens and crowd sales with its application.
WireX cryptocurrency debit card
Previously known as the E-coin, the WireX is a trusted debit card issuer for the future with support coming from more than 50 different cryptocurrencies including Ethereum’s Ether.
The debit card is available in both plastic and virtual forms and is linked to the users’ WireX crypto wallet. This crypto card will support the conversion of fiat currencies as well.
WireX cryptocurrency debit cards are accepted anywhere VISA card is accepted, but the card is still only available to residents from the EEI only.
No fees are incurred during the crypto wallet conversion process, with a maintenance fee of $1.5 on a monthly basis. There are ATM withdrawal fees attached to the card within Europe, however, with a $2.5 in fees and with the rest of the region having a $3.5 in fees.
Shakepay is quite simple to use cryptocurrency debit card with a traditional approach. Asides from the Ethereum support the company is also allowing users to use Bitcoin and DASH.
Users of the card will be able to send and receive any payment in support of coins that will be allocated to addresses. Coins will then be instantly converted in its equivalent value in fiat currencies.
Shakepay debit card can be purchased for around $15 and will incur a maintenance fee of $1 per month. There will also be loading fees that are charged to Ethereum(1%), Bitcoin(3%) and Dash.
Bitwala cryptocurrency debit card
Bitwala crypto card was launched back in 2012 with VISA through a Berlin-based platform. The card is now used by more than 15,000 users from across 120 countries.
The service provides fast international bank transfers, which makes it convenient for international traders and freelancers worldwide. Bitwala supports top cryptocurrencies like Ethereum and Bitcoin with more than 40 other different altcoins.
It is available both in plastic and virtual formats. Together with a wide array of fiat currencies such as JPY, VND, KRW, EUR, GBP and AUD with other south American currencies.
Bitwala has a collaboration with ShapeShift to accept several altcoins as a top-up method, includes Dogecoin, Litecoin Monero and Zcash. There are three membership accounts that are available for each feature with different monthly top-ups and withdrawal limits.
Cryptocurrency debit cards should be selected according to the country of the intended fiat-currency monetary policy.
Do you have any thoughts on the rise of debit cards in the Blockchain industry? Feel free to leave your comments down below.