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Best Crypto Credit and Debit Cards for Crypto Traders

Author: silvia.zhang Date: May 25, 2023

Peer-to-peer (P2P) transactions were the norm in the early days of cryptocurrency when holders were limited to only a few major options like Bitcoin. Nowadays, it is much simpler to convert cryptocurrencies into fiat thanks to crypto debit and credit cards. While a crypto debit card converts crypto into fiat money every time you make a purchase or use an ATM, a crypto credit card allows you to receive cryptocurrency for spending money.

When choosing the best cryptocurrency credit or debit card. You must consider various elements, including the types of cryptocurrencies that are offered, fees, convenience of use, and availability. This article will walk you through what factors to consider.

What are Crypto Credit and Debit Cards?

Crypto credit cards are similar to traditional ones in that they entail borrowing money from the issuer. When you make a purchase, the card company deposits the funds and your balance rises. Crypto credit cards, like traditional credit cards, allow customers to receive rewards for their transactions. What distinguishes crypto credit cards is that the incentives are in the form of crypto that the issuer buys on behalf of the holder. One significant advantage of utilizing a crypto credit card is that it provides a minimal risk opportunity to earn cryptocurrency simply by making regular purchases.

Similar to a traditional debit card, a crypto debit card allows its owner to make purchases and make ATM withdrawals using their own funds. Most cryptocurrency debit cards use the holder’s cryptocurrency accounts to make withdrawals, unlike standard debit cards. They are thus a practical method for converting cryptocurrencies into money that you can utilize for everyday transactions. You can preload fiat or digital money onto other cryptocurrency debit cards. Crypto debit cards frequently enable you to cut down on foreign transaction costs and conveniently spend money in a variety of currencies in addition to turning cryptocurrency into cash.

Factors you need to consider before choosing the best crypto credit and debit cards

Firstly, consider the kind of cryptocurrency you’ll be using. Some cryptocurrency debit cards can only connect to specific cryptocurrency accounts, while some cryptocurrency credit cards only allow you to earn rewards in a specific cryptocurrency. You must have a card that enables you to use your preferred currency.

The second factor that requires consideration is the fees. Even though the best crypto credit cards are typically inexpensive, there are certain costs to take into account. While some credit cards have an annual cost, others are totally free.

The primary goal of having a cryptocurrency credit or debit card, for many users, is to maximize cryptocurrency-to-fiat conversions. Besides using a crypto credit card directly, it may be more convenient to certain users to just use an exchange platform to onboard into crypto using fiat. Phemex currently offers industry-wide low rates to buy crypto with credit or debit card, and the user experience is unmatched due to one-click buy/sell feature.

List of best crypto credit and debit cards

  • Venmo Visa

The Venmo Visa® Credit Card will be simple to use if you already have the Venmo app. You can keep track of your purchases and incentives with the Venmo app. A unique QR code is printed on the card itself to make syncing simple. This is one of the best cryptocurrency Visa cards available due to the convenience and financial gain that it offers.

  • SoFi Mastercard

The SoFi Mastercard deserves to be included in the best cryptocurrency credit cards due to its reasonable reward rates, widespread usability, and assortment of special benefits. The card is a good method to increase your savings thanks to the 3% cashback bonus. Additionally, if you make your payments on time for a year, you can cut your APR by 1%.

  • Monolith Card

Monolith, an Ethereum-based decentralized financial (DeFi) platform, takes a unique stance on cryptocurrency custody. Users who are allowed to keep ownership of their crypto assets are effectively in full control of their money and won’t have to worry about their assets disappearing in the event that Monolith fails due to its lack of liquidity.


These are only a few of the numerous crypto debit cards that are available today. When there are so many options, it’s critical to conduct research before deciding which card best meets your needs. Whichever card you select, you can be sure that it will be easier than ever to use and manage your digital currency. There are numerous possibilities on how to spend your cryptocurrency.

Phemex now provides a more frictionless experience when purchasing cryptocurrencies using a credit or debit card. You can find out more information here.

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