6 Best Crypto Cards for UK Investors in 2023
From a fringe interest to mainstream finance, the rise of crypto debit cards in the UK is unprecedented, echoing the world’s rapidly shifting financial landscape.
Backed by blockchain technology, a crypto card in the UK is no longer a figment of imagination but an authentic, accessible financial instrument.
Indeed, crypto debit cards are available in the UK, painting a new landscape for everyday financial transactions. By pairing the flexibility of digital assets with the convenience of traditional banking, these cards are steadily rewriting the finance rules.
Crypto debit cards offer an enticing proposition to UK users, UK residents, and anyone interested in making the most of the crypto revolution in the United Kingdom.
Table of Contents
The crypto debit cards for everyday transactions
Everyday transactions have a new best friend in crypto debit cards. Rather than converting crypto to traditional fiat currencies to pay for groceries or a cuppa, these debit cards make the process as seamless as tapping your bank debit card at the till.
This function allows UK residents to quickly leverage their crypto holdings for daily transactions, opening up a world where purchasing a morning croissant with Bitcoin debit cards is as ordinary as paying with pounds.
In essence, the rise of crypto debit cards blurs the lines between traditional banking and digital currencies, transforming how we understand, use, and pay in finance.
Embracing a crypto debit card in the UK is less about being trendy and more about stepping into a financially inclusive and versatile future.
Understanding the value of crypto credit cards
Understanding the value proposition of these cards involves more than just keeping up with the latest financial trends.
It requires grasping the fundamental changes these cards represent, such as democratising financial services and transforming traditional payment systems.
First, let’s tackle the question:
Is it worth having a crypto card? As with all financial decisions, it depends on individual needs and circumstances. However, from a purely utilitarian standpoint, the best crypto debit cards offer advantages over standard bank cards.
Potential benefits and drawbacks of using crypto credit cards
Crypto debit cards and crypto credit cards, for instance, enable users to directly spend their digital money – a function unheard of in conventional debit and credit cards.
This means your Bitcoin, Ethereum, or other cryptos don’t have to stay locked away in a virtual wallet. Instead, they can be as liquid and spendable as the cash in your pocket or the balance in your bank account.
Apart from this unique liquidity feature, these cards also typically come loaded with rewards programs. These can range from cashback in crypto on purchases to other benefits such as discounts with partner merchants or airport lounge access with some premium cards.
However, using crypto credit cards is not without potential drawbacks. The volatility of cryptocurrency means the value of your holdings can fluctuate rapidly. Plus, not all merchants accept crypto credit cards yet, limiting their use to specific contexts.
Key features of crypto debit and credit cards
Decoding the features of these cards may feel like learning a new language for the uninitiated. However, once understood, these features unlock a world of convenience and potential financial gain.
One critical feature to consider when choosing a crypto card is the supported cryptocurrencies and fiat currencies. Cards differ in the number and types of cryptos they support — from widely adopted ones like Bitcoin and Ethereum to the lesser-known tokens.
Additionally, these cards convert crypto to fiat currencies (such as GBP or EUR) at the point of sale, so understanding the supported currencies is essential. This feature allows users to spend their crypto like traditional money, regardless of whether the merchant accepts cryptocurrency.
The exchange rate applied during this conversion is another crucial factor to consider, as it can significantly impact the real-world value of your crypto assets.
Fees are another critical aspect of crypto debit and credit cards. Some cards might charge for ATM withdrawals, monthly maintenance, or foreign transactions, while others pride themselves on low-fee or zero-fee transactions.
Understanding the fee structure associated with each card will help avoid any unpleasant surprises.
Fees, rewards, and more: what to expect from a crypto card
One of the most exciting features of the best crypto credit cards is their rewards programs. These rewards often come in crypto cashback or reward points, allowing users to earn rewards with each purchase.
Some cards offer generous cashback rates or reward points for specific purchases or transactions. For example, users might earn more points when they use their card for online purchases or top up their card with a significant amount of crypto.
By understanding these key features, you’re well on your way to selecting a card that aligns with your financial habits and goals. Remember, the devil is in the detail — so be sure to read the fine print.
Choosing the best crypto card for your needs
Given the myriad options available, selecting the right card can seem daunting. In this section, we will take a deep dive into the specifics of six major crypto debit and credit cards available for UK residents: swissmoney Debit Card, CoinJar Card, CryptoPay Card, Revolut Card, Monolith Card, and Coinbase Card.
The CoinJar Card is a trailblazer in crypto-financial services, sought after by crypto enthusiasts and casual users. Developed by CoinJar, a leading digital currency platform, this card seamlessly converts crypto assets into traditional money, enabling you to spend your digital wealth just like you would with fiat.
CoinJar Card embodies the company’s commitment to accessibility and utility in the crypto space, providing a valuable tool for those seeking to integrate cryptocurrency into their daily finances.
Whether buying a coffee or booking a holiday, the CoinJar Card brings your cryptos to the forefront of real-world transactions, offering the convenience of a conventional debit card with the modern twist of cryptocurrency spending.
Supported cryptos: Bitcoin, Ethereum, Litecoin, Ripple, and more.
Supported fiat currencies: GBP.
- No monthly fee.
- Supports a wide range of cryptocurrencies.
- Free foreign transactions.
- Limited to one fiat currency (GBP).
- ATM withdrawals come with a fee.
swissmoney Debit Card
The swissmoney Crypto Debit Card marks a significant development in financial services, skillfully marrying the traditional financial management system with the cutting-edge domain of digital currencies.
The swissmoney, known for its financial acumen and focus on customer-centric services, offers this crypto debit card to users aiming for flexible, accessible, and efficient crypto transactions.
The card caters to both experienced crypto users and novices, offering an intuitive interface, seamless integration with swissmoney’s broader financial services, and free ATM withdrawals.
The feature-packed swissmoney Crypto Debit Card provides a simple, secure, and convenient way to manage and spend your cryptos, ultimately bridging the gap between digital currencies and daily transactions.
Supported cryptos: Bitcoin, Ethereum, Litecoin, and more.
Supported fiat currencies: GBP, EUR, and more.
This is a highly versatile prepaid card that enables instant crypto-to-fiat conversion, providing an effortless way for users to spend their digital money.
Originating from the innovative minds at CryptoPay, a pioneering Bitcoin payment gateway, this card exemplifies the marriage of traditional financial institutions’ functions with the progressive realm of digital currencies.
Its uniqueness lies in its capacity to bridge the gap between the digital and the physical world, offering a tangible solution to spend your crypto.
Be it an online payment or a transaction at a physical store, the CryptoPay Card is designed to transform how we think about spending cryptocurrency, bringing a much-desired level of simplicity to the complex world of digital assets.
Supported cryptos: Bitcoin, Ethereum, Litecoin, XRP, and more.
Supported currencies: GBP, EUR.
- Supports both online and in store purchases.
- Low foreign transaction fees.
- Charges a monthly maintenance fee.
- Limited supported fiat currencies.
Revolut Card stands out in the crowded crypto card market with its multifaceted features and innovative approach to banking — including its Revolut metal card.
It’s more than just a Visa card; it’s a super financial app that combines traditional banking, budgeting tools, and cryptocurrency trading all under one roof. Its seamless user interface makes managing your crypto or fiat funds a breeze.
Revolut’s impressive global reach, support for various currencies, and rich functionality make it an excellent choice for anyone, from crypto-curious beginners to experienced crypto veterans.
Supported cryptos: Bitcoin, Ethereum, Litecoin, and more.
Supported fiat currencies: GBP, EUR, USD, and more.
- Rewarding cashback program.
- Top up with fiat or crypto.
- ATM withdrawals available.
- Visa cost applicable.
- Charges a minimum fee for certain transactions.
Monolith Card takes a unique approach by providing a decentralised banking alternative fully backed by Ethereum. This card seamlessly merges the blockchain world with everyday life, allowing users to utilise their digital money for real-world expenses.
Monolith is not only about promoting the use of Ethereum and other ERC-20 tokens; it’s about fostering a new financial ecosystem that champions decentralisation.
It’s a tool for those who believe in the power of blockchain technology and want to incorporate it into their daily transactions while enjoying the convenience traditional financial systems offer.
Supported cryptos: Ethereum and other ERC-20 tokens.
Supported currencies: GBP.
- Allows you to spend your digital money in the real world.
- Low commission on conversions.
- Only supports Ethereum and ERC-20 tokens.
- Charges a monthly fee.
Born from one of the most prominent and trusted names in the cryptocurrency space, the Coinbase Card brings the ease and familiarity of traditional finance to the world of digital assets.
As a product of the world’s leading crypto exchange, the Coinbase Card leverages its extensive digital asset support, allowing cardholders to spend any cryptocurrency on the platform.
It goes beyond just a means to access and spend/cash out your crypto, adding layers of convenience with physical and virtual cards. Moreover, Coinbase Card provides a gateway to crypto rewards, letting you earn as you spend.
Supported cryptos: All cryptocurrencies available on Coinbase.
Supported currencies: GBP, EUR, and more.
- Wide range of supported cryptos.
- Rewards program available.
- Physical and virtual cards available.
- Monthly maintenance fee applicable.
- Conversion fees may apply.
While comparing these cards, it’s crucial to consider your specific needs, such as the cryptos you hold, how often you make transactions, and your tolerance for fees. Remember, the best crypto card for you might not be the best for someone else, so choose wisely.
Making the most of your crypto credit card
When spending your crypto holdings through cards, understanding the limits and nuances of transactions is essential. For instance, the Crypto.com Card, one of the most popular in the market, offers varying withdrawal limits based on its tier system.
The essential Midnight Blue Card allows a monthly ATM withdrawal limit of £200 with a 2% fee on the exceeding amount.
On the other end of the spectrum, the Obsidian Card offers a substantial £800 withdrawal limit per month, with a 2% fee for additional amounts.
Tips for managing big purchases and online purchases with a crypto card
Let’s say you’re planning some big purchases or frequent online shopping. Your crypto card can be a valuable tool for these transactions too.
Not only does it enable seamless transactions, but it can also reward you with cashback in crypto for your purchases. However, always know the conversion rates from crypto to your local fiat currency to ensure you get the best value.
Managing in-store and everyday purchases with a crypto card is as straightforward as any debit or credit card. Simply top up your card with your preferred crypto, and you’re ready to go. Remember, while shopping in-store, ensure the retailer accepts Visa or MasterCard, as most crypto cards leverage these payment networks.
In conclusion, crypto cards have emerged as a powerful tool for managing crypto assets, making them more accessible and utilitarian. Whether you’re making online transactions, withdrawing cash, or managing everyday transactions, a crypto card could be the game-changer in your financial toolkit.
It’s not just about spending crypto anymore; it’s about genuinely integrating it into our daily lives. With the proper understanding and intelligent use of crypto cards, the world of cryptocurrencies becomes much more tangible and practical.