Key facts: Credit and debit cards provide easy access to buying bitcoin. Bitrefill, SatoshiTango, Gemini or Wirex offer these cards with cryptocurrencies. The adoption and acceptance of finance related to digital assets is evolving on a daily basis. One proof of this are the credit and debit cards that can now be used to make payments using cryptoassets such as Bitcoin (BTC) and stablecoins. These cards allow users to spend their cryptocurrencies anywhere that accepts them as a means of payment, thanks to the instant and automatic conversion of bitcoin or tokens to fiat money (dollar, euro, etc.) at points of purchase such as physical and online stores.
Transactions are completed quickly and efficiently. Many crypto cards also allow ATM withdrawals. In this article, you will learn how to apply for a card from a cryptocurrency exchange and we provide you with a list of dedicated cryptocurrency cards that allow you to make payments with crypto assets.
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Don't have a debit or credit card with cryptocurrencies?
You can always request one. BTC purchases can be accessed through credit cards issued by centralized cryptocurrency exchanges such as Crypto.com, Coinbase, Bybit, among others. These cards also allow you to pay with cryptocurrencies. On this occasion, we will explain the process of requesting a card on Bybit from Argentina. Within the account, the user must enter the “Finance” section and then go to the “Card” section. This is best seen in the following image. Here you can request a card if you do not have one.
Bybit Card has wide regional availability. Source: Bybit. Later Bybit will ask you to choose your country of residenceThere you can check if your location is authorized to issue this card. At the moment, the site announces that its card is only available in Argentina, countries in the European Economic Area and Australia.
Second step to apply for the Bybit credit card. Source: Bybit. Then The platform will ask you for a new identity verification (in addition to KYC at the time of account creation). In this case, this can be done with the Argentine National Identity Document or with the passport.
Bybit allows you to apply for the card with ID, license and passport. Source: Bybit In the next step, the site will require you to submit a confirmation of recognition that the funds to be used come from legal activities.
From there the process continues with two forms that must be completed with personal data such as home address, profession, place of birth, etc. Once this is completed, in the last instance prior to the confirmation of the request for your card, he exchange will ask you to enable Google 2FA verification to ensure more security with this two-factor authentication method.
Once the process is complete and your Bybit Card application is submitted, the cryptocurrency exchange will conduct a review that can take up to seven business days. During this period, you will receive an email notifying you whether your application has been accepted.
Bybit offers a digital card. Source: Bybit. Currently, Bybit only issues virtual cards in Argentina and does not specify any fees for it. Once you have the card in your account, the next step is to activate it and then load it with funds. Within the platform, you will be able to buy bitcoin using fiat money. Bybit Card will automatically convert cryptocurrencies to fiat currencies. Then, you will need to confirm the payment. However, there are other cryptocurrency cards on the market available in various regions of the planet. Here is a list of them. We will go over how they work, the incentives, available countries, the advantages and disadvantages of the best credit and debit cards with bitcoin and cryptocurrencies.
Which credit card should I choose to trade bitcoin or cryptocurrencies?
1. SatoshiTango Card
Cashback of up to 10% on cryptocurrency purchases. Refunds are in bitcoin, ether (ETH), litecoin (LTC), dogecoin (DOGE), USD Coin (USDC) and Tether (USDT). Discounts of 10% to 50% in participating merchants. Charges 1% for each cryptocurrency purchase and sale transaction with fiat money and 0.5% with another cryptocurrency. Does not charge for product maintenance. Available in Argentina.
2. Bybit Card
Up to 10% cashback on cryptocurrency purchases. 0.5% fee for cryptocurrency exchange and 0.9% fee for cryptocurrency to fiat conversion. No maintenance or card issuance fees. Available in Argentina and Spain, among others. The website allows you to check if your country is accepted when ordering the card.
3. Bitso Card
Cashback system with discounts on purchases at specific stores. Discounts on entertainment, education and transportation platforms. Cashback or discount percentages are announced on the site. No fees for issuance or annual maintenance. Only available in Mexico.
4. Bitrefill Balance Card
It works as a prepaid cryptocurrency card. Reloadable with bitcoin, stablecoins or tokens. It is used to buy products and services in physical and online stores. It supports payments in BTC, ETH, USDT, USDC, among others. Commissions and rewards in BTC not specified. This card is available in Spain and the rest of Europe.
5. Crypto.com Card
Offers up to 5% cashback for card levels. Card levels depend on the CRO (Crypto.com native token) locked. Does not charge any fees for maintaining the product. Cryptocurrency transactions cost 0.5%. Available in Spain, European Union and the United States.
6. Bitget Card
Intended for VIP users of the site only. Offers cashback of up to 5% of the amount spent in its native token, BGB. Cryptocurrency conversion fee of 0.9%. No annual maintenance fees. Supports USDT (Tether). Will include BTC, ETH, BGB, USDC, among others. Available “anywhere that accepts Visa.” Does not specify regions or countries.
7. Coinbase Card
1% and 4% cashback on BTC and ALGO is available. The platform varies its cashback percentage. It does not charge commissions on transactions with USDC. 2.49% fee to convert cryptocurrencies to US dollars. It does not charge maintenance costs. Enabled for US users only.
8. Gemini Credit Card
Rewards based on type of spending. 4% on fuel charges, 3% in restaurants, 2% in supermarkets and 1% on other purchases. Rewards in the selected cryptocurrency. There are no maintenance fees, but there are fees for currency exchange.
9. Wirex Card
Offers up to 8% cashback on all purchases. Offers additional rewards through its WXT rewards program. Fees apply for ATM withdrawals over $200. Account maintenance charges are $1.30 and cryptocurrency transactions are 1%. Purchases are made with 20 cryptocurrencies: Bitcoin, Ether, Litecoin, XRP, among others. Available in the United Kingdom.
Main advantages of cryptocurrency credit cards
Firstly, accessibility and ease of use that enables users to trade their cryptocurrencies directly, without the need to convert to fiat manually. Secondly, many of them offer a range of incentives and rewards to its usersFor example, a refund or “cashback” system is commonly used for each purchase made with said credit card. These cashback programs They imply a refund of the percentage spent in native cryptocurrencies, others tokens either stablecoins.
In turn, they offer points programs that can be converted into cryptocurrencies or used to obtain discounts in different commercial areas.
Main disadvantages of cryptocurrency credit cards.
As for the negative issues that could be listed, First of all, the commissions charged by card issuers stand out.. These commissions may be determined by the exchange of cryptocurrencies, by the exchange of a cryptocurrency for a fiat currency or by some movement linked to the user's account, such as withdrawals from ATMs, among others. In turn, lThe buying and selling platforms that offer credit or debit cards They may charge monthly or annual maintenance feesHowever, these costs are not common. Another disadvantage is provided by geographical limitations: not all cryptocurrency-related cards are available in all countries. Lastly, and very importantly, it is worth remembering the volatility of cryptocurrencies, which can affect the value of the funds available on the card.