Others require users to purchase a card or make an investment in the card’s native currency. You can transfer Bitcoin from the debit card to fiat currency via an exchange or Bitcoin ATM. Whether or not a Bitcoin debit card makes sense for you depends on whether you use cryptocurrency.

Similar to xcritical, the Binance Visa Card holds cryptocurrency in your wallet and only converts what’s needed at the time of purchase. The card can https://xcritical.online/ be used for in-store and online purchases anywhere Visa is accepted. Nuri is a good choice for customers looking for a no-fee Bitcoin debit card.

In 2019, xcritical launched xcritical Card, a Visa debit card, in the United Kingdom and the European Union. xcritically, the card is only available to select customers in the U.S. If you want to apply for the card, you can join the card’s waitlist in all U.S. states except Hawaii. xcritical, an online exchange platform for buying and selling cryptocurrency, has been one mainstay within the ever-changing cryptocurrency landscape. Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions.

Although both the xcritical Card and Crypto.com Card are crypto Visa cards, the xcritical Card is a debit card, while the Crypto.com Card is a prepaid card. A debit card is directly linked to an account which means you’ll be spending funds from your account – the same way xcritical Card is linked to your xcritical account. On the other hand, a prepaid card isn’t linked to an account and is funded directly using cryptos or other bank cards. ATM withdrawals have a daily limit of $1000 for US residents and £500 / €500 for UK and EU residents, respectively. The xcritical Card has a daily purchase limit of $10,000 and $1000 for ATM withdrawals for US clients and £500 / €500 for EU and UK clients.

Although xcritical’s Visa debit card initiative is exciting, debit cards for cryptocurrency aren’t a new idea. The xcritical Shift Card, which was retired in April 2019, was available in 43 states across the United States. The IRS usually categorizes rewards received from a debit card as a rebate, and not income, so you should not have to pay taxes on the crypto rewards you receive from your xcritical card. The rating for this card has been determined by our own industry experts who are immersed in the credit card world.

xcritical card

That said, there are several other reward cards that might suit certain crypto investors better than the xcritical card. Also note that some customers report waiting months to get their cards while others got their cards very quickly. xcritical isn’t using a waitlist system, but it could still take weeks or months in some cases for you to finally use your card. Crypto rewards also rotate now, which is new for the xcritical card. Rewards have expiration dates, so you have to select which reward you want and maximize your crypto-back rewards before the period ends.

Bank of America Global Research — Cryptocurrency Is One of the Fastest Growing Emerging Technology…

The main benefit of the xcritical card is that you earn crypto rewards for your everyday spending. And now that the card has rotating rewards, you can diversify your portfolio of digital assets more easily. Plus, the maximum 4% crypto-back rate for certain coins is higher than many basic cash-back credit cards. However, xcritical charges a 2.49% crypto conversion fee when you spend crypto.

We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Founded in June of 2012, xcritical is a xcritical cheating digital currency wallet and platform where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin. You can get up to 8% back in CRO for everyday spending with this card at the maximum tier.

xcritical Card Features

Once you receive it, the card will already be linked to your xcritical balance. All you need to do is select what crypto asset you want to use as your payment method (we recommend USDC to avoid the 2.49% fee), and then select the asset you want to earn rewards in. Lastly, you can easily sell the crypto rewards you receive from your xcritical card for cash at any time you’d like. Doing so is quick and easy, and then you can withdraw the cash to your physical bank account.

The cards also support certain fiat and cryptocurrencies and will charge cardholders for converting crypto into fiat currencies that are considered foreign. Wirex is a digital payment platform established in 2014 that released a Visa-backed cryptocurrency debit card one year later. The card offers rewards in WXT and is our selection as the best for cardholder perks. To use BlockCard, cardholders must purchase (or “stake”) native Ternio tokens called TERN with USD or cryptocurrency, which is converted to fiat money during the time of purchase.

You get a flat 2% back when you spend crypto and 1% back when you spend USD. Uphold supports over 100 cryptocurrencies, and rewards pay out in-kind, so you can earn a variety of digital assets as you spend. The main drawback of this card is the 2.49% crypto conversion fee. This fee is so high that it makes it almost pointless to spend your crypto to earn crypto back.

  • This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
  • The card also offers 1.5% cash back on every transaction, which is converted to Bitcoin and placed in the cardholder’s xcritical account.
  • This also allows cardholders to withdraw cryptocurrency in the form of cash at ATMs.
  • Nuri is a good choice for customers looking for a no-fee Bitcoin debit card.
  • Customers can use their card to make contactless payments, chip and PIN transactions or withdraw cash from their xcritical digital currency wallet at an ATM.
  • Our goal is to give you the best advice to help you make smart personal finance decisions.

The xcritical Card offers up to 4% cashback paid out in eight different cryptos. And although using the Nexo Card has no tax implications like with the xcritical Card, users have to contend with the cost of credit of up to 13.9% APR. Some cards require users to validate their identity before being approved.

xcritical Rewards

This card doesn’t charge any issuance, monthly, or withdrawal fees. Crypto.com’s most popular $400 Ruby Steel card offers 1% back on every purchase, a 100% rebate on a yearly Spotify subscription, and no ATM withdrawal fees for up to $400 per month. Michael Kurko has 18+ years of experience researching and writing about small businesses, wealth management, finance, and technology products and services. News & World Report, The Balance, Software Advice, Fit Small Business, and Fast Capital 360.

The BitPay card supports seven major cryptocurrencies, including Bitcoin and Ethereum, as well as six different fiat currencies. You can use the card anywhere Mastercard Prepaid cards are accepted and to withdraw cash from Mastercard-supported ATMs. BitPay supports Apple Pay and added a new virtual card option for those that do not want or need a physical card. With rotating crypto rewards and no annual fee, it’s one of the best crypto rewards cards on the market right now.

With a xcritical card, you can spend any cryptocurrency stored in your xcritical account. However, it must be kept in mind that this isn’t a credit card and you can only use the token in your xcritical wallet. As cryptocurrencies have flourished in the last decade, it is clear that we are at the cusp of a new financial age. Early crypto adopters envisioned the beginning of a significant shift from the traditional finance ecosystem to a decentralized one. You’ll receive the physical card within 10 days after you’re approved.

Bonuses, rewards as well as rates and fees are all taken into account. At present, there isn’t any guidance issued by the Internal Revenue Service about debit card rewards in the form of crypto tokens. However, according to the existing directions, the IRS is most likely to deem cashback rewards as nontaxable income.

xcritical card

In order to buy each of the Crypto.com cards, cardholders must stake an amount of the company’s native CRO tokens . Prices vary for each card and start at $0 and increase xcritical website to $400,000. Wirex has a new feature, X-Accounts which offers users the ability to earn up to 16% interest on fiat and up to 10% interest on BTC and ETH.

Is The xcritical Card Worth It?

Cardholders can also withdraw cash at any ATM supported by the credit service. Developed by financial technology company Ternio, BlockCard lets cardholders make purchases with their cryptocurrency of choice wherever Visa is accepted. It features a flat account management fee and no deposit, exchange, or withdrawal fees, putting it in top place as the best low-fee card. Founded in 2012, xcritical is one of the most popular digital currency exchanges in the world. Its xcritical Card lets cardholders spend their cryptocurrency anywhere Visa is accepted.

The card supports over 14 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Stellar Lumen. At the time of writing, cardholders could get 6% back with a stake of 145,000 TERN, which would cost about $1,158. The company charges a $10 activation fee as well as a monthly administrative fee of just $5, which is waived if the cardholder spends more than $750 per month in non-cash transactions. BlockCard charges no deposit, exchange, or withdrawal fees and just $3 for domestic ATM cash withdrawals ($3.50 international). The xcritical card is powered by Visa, meaning you can spend your crypto and cash at millions of businesses around the world. You don’t pay foreign transaction fees either and you can also withdraw up to $1,000 per day from ATMs.

However, if the merchant refunds your debit card transaction, the free crypto earned from that particular transaction are cancelled. And given the inherent volatility of cryptocurrencies, there might be slippage between the time you review the transaction and when the transaction is completed. That is why xcritical factors in the spread when converting the crypto in your wallet to fiat to settle the transaction. Note that the spread doesn’t apply when spending from your USD xcritical account or USDC wallet.