A cryptocurrency is a form of digital value that can be sent to another user anywhere in the world within a matter of minutes. Bitcoin is a primary example of a cryptocurrency that can be sent, received, and settled within a short time. However, cryptocurrencies are usually transacted using mobile or internet technologies – what if you’re looking to use the cryptocurrency physically, say like you use a debit card? Luckily, you can use your cryptocurrency via what are called Cryptocurrency Debit and Credit Cards. There’s a large amount of crypto-card providers, and many are illegitimate, so it’s important to conduct extensive due diligence on your own time. This guide will serve as a resource for users to understand how to use cryptocurrency debit/credit cards, which cryptocurrency credit/debit cards are the best, and how to get started with one today.
Best Bitcoin/Cryptocurrency Credit Cards for 2019
Now that we’ve just had a refresher on what Bitcoin/Cryptocurrency credit cards are and how they work, let’s assess which Bitcoin credit cards we believe are the best in the industry at this moment. This is based on extensive due diligence, comparisons to other industry competitors, and our own experiences with the providers. Keep in mind, this requires you to have previously bought cryptocurrency; if you haven’t done so, we recommend Coinbase as it’s a reliable, quick option.
Best Bitcoin/Cryptocurrency Debit Cards for 2019
The Advantages of a Bitcoin Credit Card
A Bitcoin credit card has a few positive factors that can be of great use to multiple types of users. For starters:
- Bitcoin credit cards allow you to receive loans without having any minimum monthly payments, large APR fees, or the like.
- Bitcoin and cryptocurrency credit cards can serve as additional hedges for your investments in cryptocurrency.
- While most credit cards require a credit score and credit check, Bitcoin credit cards don’t.
The Future of Bitcoin/Cryptocurrency Debit and Credit Cards
While we can’t be sure that cryptocurrencies will be used actively by every single consumer in the world within the next few years, signs are pointing towards these debit and credit cards being more accessible in our everyday life.
Cryptocurrencies such as Bitcoin are making progress in their underlying technology each and every day; things like cryptocurrency credit and debit cards are becoming more and more efficient by the day. In any case, ensure you’re checking up on InsideBitcoins daily for the latest and most useful information and developments in the industry.
Can I get a Bitcoin credit or debit card if I have bad credit?
Yes! You can get a Bitcoin credit card or debit card with bad credit, in fact, in the case of a Bitcoin credit card, since the entirety of the loan is given based on the collateral you put up, there are no credit checks whatsoever. As long as you can buy Bitcoin, you'll be set to get a crypto credit or debit card.
Are there hidden fees associated with Bitcoin debit/credit cards?
For the cards we reviewed above, we ensured that no hidden fees were imposed; it's always good to do your own due diligence as well, and ensure thorough research if selecting a card that is lesser known.
What's the most important quality of a Bitcoin credit/debit card?
In the case of a Bitcoin credit card, the most important quality to adhere to is the loan terms, as unfavorable or misconceived terms can lead to a large loss of funds.For Bitcoin debit cards, the most important quality is most likely accessibility and regulation.
Are Bitcoin debit/credit cards legal?
In major jurisdictions where cryptocurrency is legal, cryptocurrency debit and credit cards are legal. However, some providers may be restricted in where they can provide the cards, so keep this in mind.