As cryptocurrencies continue to take center stage in the financial world, crypto cards have continued to stand as an essential bridge between decentralized digital currencies and traditional financial experiences. These cards are used for making online subscriptions, POS purchases, and ATM withdrawals. They work just like regular debit cards but with the convenience of cryptocurrencies and blockchain technology.
One of the features that has pushed the adoption of crypto cards is the reward system. These benefits, which include cashback, discounts, and exclusive accounts, have lured many users into picking different crypto cards. However, the appeal of these rewards often masks potential trade-offs, particularly in security and privacy. As various companies vie for supremacy in offering the most attractive rewards, some may sideline essential security protocols and privacy policies.
This guide will look into the four leading providers of the best crypto card with rewards, scrutinizing their rewards offerings against security and privacy considerations.
The aim is to provide a balanced perspective to help readers choose a crypto card that balances rewards with safety and user data protection imperatives.
Crypto cards such as PlasBit, Binance, and Coinbase have carved out a unique niche, enabling users to tap into the benefits of traditional financial systems and decentralized digital assets. With an increasing number of these cards vying for user attention, rewards have become a distinguishing factor.
Cashback in the crypto sphere functions similarly to traditional finance: users receive back a percentage of their spending. The typical rates for cashback range between 1% to 5%, depending on the card’s terms and the user’s spending level.
However, users should be aware of potential limitations; some cards might have a monthly cashback cap or offer higher percentages only if certain conditions are met, such as holding a specific amount of the card provider’s native token.
Referral systems incentivize cardholders to introduce new users to their platform. Often, when a new user signs up using a referral link, the referee and the referred receive bonuses. The rewards can range from a fixed amount of cryptocurrency to a percentage of the new user’s transactions. Yet, such systems might have limitations, like caps on the total bonus amount or requirements for the referred user to engage in specific actions (e.g., making a minimum purchase) before the bonus is unlocked.
Crypto staking involves holding and locking up a cryptocurrency to support network operations like transaction validation. Some crypto cards reward users who stake their tokens with the card provider. This staking can lead to direct staking rewards or enhanced card benefits. Popular cryptocurrencies for staking rewards include Ethereum, Cardano, and Polkadot.
Cryptocurrency transactions often involve fees, especially when converting one crypto to another. The best crypto card with rewards can offer users discounted or even waived fees as a part of their rewards program. This feature is especially beneficial for frequent traders or those transacting in large volumes, as fee reductions can lead to significant savings over time.
Some crypto cards come with travel-related perks and premium traditional credit cards. These include airport lounge access, travel insurance, and airline miles. It’s intriguing to see how these conventional rewards have been seamlessly integrated into the crypto card ecosystem, often providing similar, if not better, value.
To offer added value, some crypto cards collaborate with merchants or service providers to grant cardholders exclusive deals. These can range from discounts at specific retailers to periodic promotions during festive seasons.
Tailored to reward long-term and high-value users, many crypto cards have tiered reward systems. Users can climb up tiers based on usage, holdings, or both, each offering benefits. Moving up the loyalty ladder often leads to enhanced cashback rates, better staking rewards, and exclusive offers.
With different reward programs available in the crypto card space, it’s essential to understand what cards provide these rewards and their specific rewards. It’s also important to understand what other features they offer or don’t offer in place of the rewards system. Here’s a look at the four best crypto card with rewards:
The Binance Card is a prepaid debit card that allows users to spend their cryptocurrencies anywhere in the world. It is issued by Swipe, a Visa partner, and is accepted by over 60 million merchants worldwide. Users can earn up to 8% cashback in BNB on all eligible purchases. The cashback percentage depends on the user’s card level, which is determined by the amount of BNB they hold in their Binance account. The card has no annual or transaction fees, making it a cost-effective solution for crypto users.
Additionally, you get instant conversion of cryptocurrencies to fiat currency at the point of sale, making it easy for users to purchase in their local currency. To ensure that users ‘ funds are always safe and secure, Binance protects its cards with advanced security features, such as 3D Secure and real-time transaction alerts.
The Crypto.com Card is the best crypto card with rewards, allowing users to spend and earn free crypto. It is issued by Metropolitan Commercial Bank and powered by Visa. Users can earn cashback rewards on all purchases, with the rewards rate varying depending on the card tier. The cashback rewards are paid out in CRO, Crypto.com’s native cryptocurrency.
This card has no annual fee, regardless of the card tier, making it one of the most cost-effective cards to use in the market. Cardholders also receive discounts on Crypto.com exchange fees, with the discount rate varying depending on the card tier. With this card, you’ll have access to other Crypto.com features, such as the Crypto.com Earn program and the Crypto.com Lounge app.
The Crypto.com Card reward program is one of the most generous in the crypto industry. Users can earn cashback in Bitcoin, Ethereum, or CRO on all purchases, depending on their card tier. The cashback rates are as follows:
The Coinbase Card is a Visa debit card that allows users to earn crypto rewards on every purchase. The Coinbase Card supports Apple Pay and Google Pay so that users can make phone contactless payments.
It has no hidden fees, including zero spending and annual fees. Users can also stack crypto rewards fast from everyday spending and get complete control of what they earn. Users can earn up to 4% back in crypto on every purchase, with 1% back in Bitcoin and up to 3% in other cryptocurrencies, such as Ethereum, Litecoin, and Dogecoin.
One advantage of Coinbase is that it’s FDIC insured up to $250,000, which means that users’ crypto funds are protected in case of a bank failure. Additionally, you have complete control over their crypto rewards. They can sell cash tips, hold them long-term, or spend them at merchants accepting crypto.
There are no hidden fees, including zero spending and annual fees, and if you prefer, you can stack your crypto rewards fast from everyday spending. For example, if a user purchases at a grocery store that offers 2% cashback in Bitcoin and has the Coinbase Card set to earn 4% back in crypto, they will earn 6% back in Bitcoin on that purchase. This makes this card the best crypto card with rewards available.
The Wirex card is a good option for users who want to spend cryptocurrency in the real world and earn rewards. The Cryptoback rewards program offers generous rates and no monthly or annual fees.
However, it is essential to note that the value of cryptocurrency can fluctuate wildly, so users could lose money if they sell their rewards when the market is down. It is also essential to know the fees associated with using the Wirex card, such as transaction and foreign exchange fees.
The Wirex Cryptoback rewards program allows users to earn up to 8% back on all purchases with their Wirex card. The rewards are paid in cryptocurrency and deposited directly into the user’s Wirex account.
The amount of Cryptoback rewards earned depends on the type of cryptocurrency the user is spending and the merchant they are purchasing from. For example, users can earn up to 8% back on purchases at select merchants and up to 4% at all other merchants. Users can also earn Cryptoback rewards by staking their Wirex tokens (WXT). The more WXT tokens a user stakes, the higher their Cryptoback rewards rate will be.
The allure of crypto cards is unmistakable. With the promise of lucrative rewards, they seamlessly bridge the traditional and digital financial realms, catering to a rapidly expanding user base. However, beneath the shiny veneer of cashback and staking rewards lies a fundamental question every user must grapple with: at what cost do these benefits come, particularly in security and privacy?
One of the primary attractions of cryptocurrencies is their decentralized and secure nature. In theory, blockchain’s inherent encryption protocols ensure that transactions and holdings are safe from malicious intent. Yet, when these assets interface with platforms like crypto cards, they can be vulnerable.
The ethos of cryptocurrency was built around the idea of anonymity and privacy. While complete anonymity is hard to achieve, especially with regulatory pressures such as KYC protocols, users still expect a reasonable degree of privacy. Therefore, even the best crypto card with rewards faces unique challenges:
While crypto cards present a compelling proposition, they encapsulate a double-edged sword. The convergence of traditional finance perks with digital assets offers immense value, but users must be astute.
Before committing to a card, a thorough understanding of the provider’s security protocols and privacy policies is not just recommended—it’s essential. Balancing the benefits of rewards with security and privacy ensures users can confidently stride forward in the crypto realm.
Many crypto card providers offer seemingly similar cards. So, how does one get the best crypto card with rewards? It’s essential to know that selecting the right card goes beyond rewards. A holistic approach, encompassing everything from security to usability, is crucial.
Security is the most crucial factor to consider when choosing a crypto card. With cyber threats evolving rapidly, the card provider’s security measures should be nothing short of top-notch. Two-factor authentication (2FA) provides an added layer of security, ensuring that even if one’s password is compromised, unauthorized access is curtailed. But beyond 2FA, how the card provider handles funds is paramount. Cold storage, where funds are stored offline, provides a buffer against online hacks.
Additionally, ensuring the company has a protocol for regular security audits and updates can provide peace of mind. Your funds and data should always be secured so you can have confidence that the cards or the providers are not entry points for attackers.
Another essential factor to consider when choosing a crypto card is their privacy policies. With data being the new gold, data breaches and identity thefts are over the roof. Therefore, while rewards are good, they should not be at the expense of one’s privacy.
Even better, you can choose a provider who guarantees anonymity. While there are not many such providers, you can check PlasBit. This crypto exchange and card provider doesn’t ask for personal information when signing up for a card. Therefore, privacy is assured.
The proper reward structure is subjective, primarily on individual spending habits and lifestyle choices. For instance, a globetrotter would derive immense value from a card that offers frequent flyer miles or discounts on hotel stays. On the other hand, for someone who is more of an urban dweller and shops frequently, a card that offers cashback on retail purchases would be more fitting.
It’s essential to introspect on one’s spending patterns and prioritize a card whose rewards align with those habits. This ensures maximum benefit without having to alter one’s lifestyle artificially.
A crypto card should be user-friendly. This not only refers to the physical usage of the card but extends to any associated apps or online platforms. A seamless, intuitive interface makes tracking expenses, rewards, and managing funds a breeze.
But beyond usability, conversion rates matter. Given the volatile nature of cryptocurrencies, real-time or near-real-time conversion rates ensure users get the best value for their digital assets. Cards that lag in updating rates could result in users getting a less favorable rate.
The best crypto card with a rewards fee structure should reveal more than the overt rewards it offers. While offering attractive bonuses, some cards might recoup their costs by levying high transaction or maintenance fees.
It’s crucial to delve deep into the crypto card’s fees, being wary of potential hidden charges. This includes transaction fees for card replacement, foreign transactions, or fund withdrawals. An attractive rewards program can quickly lose its sheen if eroded by exorbitant fees.
In finance, issues can arise—transaction disputes, card loss, or even simple queries. Here, the value of a responsive customer support team is immeasurable. Prioritizing providers who offer multiple support channels, be it chat, email, or phone, ensures that assistance is just a click or call away. Moreover, the support quality—how well-trained and equipped the support team is—can make the difference between a fleeting and prolonged issue.
Crypto card rewards are the best way to get the most out of your card spending. Whether it’s cashback rewards, low fees, exclusive access to travel and TV packages, staking rewards, or discounts, it ensures that you get something in return every time you spend with your card. However, the best crypto card with rewards goes beyond these benefits.
It should have top security and data privacy policies. You should choose a card like PlasBit as it’s anonymous. While it doesn’t offer cashback rewards, it guarantees security and privacy. Therefore, ensure you read the finer details of your card provider so that you don’t sacrifice the most critical aspects just for rewards.