Best Crypto Debit Cards (July 2024 Expert-Reviewed)

Arthur Teller
ByArthur Teller, CPAReviewed byZac McClure, MBAUpdated on July 1, 2024 · minute read
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TokenTax content follows strict guidelines for editorial accuracy and integrity. We do not accept money from third party sites, so we can give you the most unbiased and accurate information possible.

  • Our team of crypto tax professionals has identified and reviewed the best crypto debit card options available so you can make an informed choice. We looked at factors including fees, rewards, security, and supported cryptocurrencies, resulting in top picks that include Crypto.com, Uphold, and Wirex.

  • While crypto debit cards offer a convenient way to use your digital assets, users should be know that every transaction with a crypto debit card will typically trigger a taxable event with potential tax implications.

Best crypto debit card: Which debit card is best for cryptocurrency?

The market has witnessed a surge in the availability of crypto debit cards that offer rewards for everyday purchases. If you're considering getting a crypto debit card, you likely have questions about how it works. In this article, we explore the characteristics of crypto debit and credit cards, examining their benefits and drawbacks and their possible effects on your cryptocurrency taxes.

Next, you'll find our crypto tax experts' top selections and detailed reviews of the seven leading crypto debit cards currently available.

Uphold

Uphold

Best crypto debit card for the UK

Binance

Binance

Best for Binance users seeking cashback

Wirex

Wirex

Best for travelers seeking cashback rewards

Best crypto debit cards of 2024

Here are our expert picks for the best crypto debit cards of 2024 to help you find the best card for your goals and how you use crypto. These short reviews feature overviews, pros and cons, and why we like these crypto debit cards.

Uphold

Best crypto debit card for the UK

The Uphold Card offers a Mastercard debit card usable globally wherever Mastercard is accepted. This versatile card functions physically and virtually, enabling spending using assets in your Uphold wallet—cryptocurrencies, precious metals, commodities, and fiat.

-  Pros & Cons

Pros

  • Multi-Asset Spending: Use the card for diverse assets held in your Uphold wallet

  • Virtual Convenience: Virtual card integrates with Google Pay and Apple Pay for quicker, safer payments

  • No Fees: No activation or annual charges, alongside excellent FX rates

Cons

  • Limited Cashback Asset: Cashback is specifically in Ripple (XRP)

-  Why our experts picked it

The Uphold Card offers seamless asset spending via a Mastercard interface, whether physically or virtually. Its diverse asset compatibility, cashback incentive, fee-free structure, and real-time analytics make it an enticing choice for conscious spenders. Integration with Google Pay and Apple Pay adds further convenience, enhancing the overall user experience.

  • Enjoy a generous 4% cashback in Ripple (XRP) on all purchases

  • Comprehensive real-time analytics to track spending

  • Availability: UK

Binance

Best for Binance users seeking cashback

The Binance VISA debit card links directly to your Binance wallets, making it very easy to use. The Binance cashback rewards are very appealing: you can earn up to 8% back on transactions.

-  Pros & Cons

Pros

  • Direct linkage to Binance wallets for easy accessibility

  • Impressive cashback rewards of up to 8% on transactions

  • Reasonable commission fee of just 0.9% for transactions

Cons

  • Optimal cashback necessitates possession of Binance Coin (BNB)

  • Cashback rate varies from 0.1% to 8%, contingent on BNB holdings

  • Limited availability of cryptocurrencies supported

-  Why our experts picked it

To maximize your cashback with the Binance Card, you’ll want to hold BNB. There is a sliding scale ranging from .1% cashback for someone with 0 BNB to 8% for someone with 600+ BNB. Binance card fees are very reasonable—just a .9% commission fee on transactions.

  • Fees: 0.9% commission fee on transactions

  • Supported Cryptocurrencies: BNB, BUSD, USDT, BTC, SXP, ETH, EUR, ADA, DOT, LAZIO, PORTO, SANTOS

  • Rewards Rate: Ranges from 0.1% to 8%, contingent on BNB holdings

  • Availability: European Union (EU) region

BlockCard

Best crypto debit card for US traders seeking cashback rewards

The BlockCard VISA from Unbanked is an all-around good pick for US traders, who have fewer options than their European counterparts. It has cashback rewards on an unlimited volume of purchases, with rates capping out at 6%.

-  Pros & Cons

Pros

  • Comprehensive cashback rewards applicable to unlimited purchases

  • Cashback rates can reach up to 6%

  • Compatibility with popular payment platforms like Apple Pay, Google Pay, and Samsung Pay

Cons

  • Earning rewards necessitates staking TRN, with rates ranging from 0% to 6%

  • Considerable staking requirement for maximum cashback rates

  • Associated fees, including a $10 issuance fee and a $5 monthly fee for transactions under $750

-  Why our experts picked it

To earn with the Blockcard, you need to stake TRN (Ternio); with the highest rates requiring a user to stake 145,000+ TRN.  An additional perk of BlockCard is its ability to be used with Apple Pay, Google Pay, and Samsung Pay.

  • Fees: $10 issuance fee, $5 monthly fee for transactions under $750, $3 ATM withdrawal fee

  • Supported Cryptocurrencies: 14, including BTC, ETH, LTC, XLM

  • Rewards Rate: Ranges from 0% to 6%, based on TRN staking

  • Availability: United States of America (USA)

Coinbase

Best crypto debit card for Coinbase users wanting crypto rewards

The Coinbase VISA card links directly to your Coinbase wallets, which means you won’t have to preload crypto like you would on most crypto debit cards.

-  Pros & Cons

Pros

  • Direct link to Coinbase wallets eliminates the need for preloading crypto

  • Attractive crypto rewards of 1% on most transactions and 4% on Stellar Lumens transactions

  • Availability of various supported cryptocurrencies for diverse options

Cons

  • 2.49% liquidation fee for non-USDC currencies

  • 2% fee on international transactions

  • Potential accumulation of cryptocurrency liquidation fees

-  Why our experts picked it

The Coinbase card allows you to earn back crypto rewards; 1% back on most transactions and 4% back on transactions made with Stellar Lumens. However, although it doesn’t charge an annual fee, the Coinbase card does charge a 2.49% cryptocurrency liquidation fee on every purchase, which could add up over time.

  • Fees: 2.49% liquidation fee for non-USDC currencies, 2% fee on international transactions

  • Supported Cryptocurrencies: 40, including BTC, ETH, LTC, XLM

  • Rewards Rates: 1% on most transactions, 4% on XLM

  • Availability: USA, UK, and EU

Crypto.com

Best crypto debit card for traditional perks with crypto cashback rewards

If you’re used to the kind of perks you often receive from traditional debit or credit cards, the Crypto.com debit card might be the right choice for you. Among the five tiers of cards, you get rewards like reimbursed Spotify, Netflix, and Amazon Prime subscriptions, discounted hotel and AirBnb rates, and free access to airport lounges.

-  Pros & Cons

Pros

  • Traditional card perks such as reimbursed subscriptions, discounted rates, and airport lounge access

  • Competitive fee structure with a focus on ATM withdrawal fees

  • Progressive cashback rewards in CRO, Crypto.com's native token

Cons

  • Cashback rewards exclusively in CRO

  • Cashback rate contingent on the amount of staked CRO

  • Higher tiers necessitate substantial staking in CRO

-  Why our experts picked it

The Crypto.com debit card features very competitive fees, charging only for ATM withdrawal fees. All tiers also offer crypto cashback rewards, but there’s a catch: rewards are only in CRO, Crypto.com’s native token. At the lowest tier, which you receive if you have 0 staked CRO, you get 1% back in CRO. Each card tier represents a 10-fold increase in staked CRO, with the highest level earning 8% cash back but also requiring $400,000 worth of staking.

  • Fees: 2% fee on ATM withdrawals exceeding $200 (higher limit for higher tiers)

  • Supported Cryptocurrencies: BTC, ETH, LTC, XRP, PAX, TUSD, EOS, and XLM

  • Rewards Rates: Ranges from 1% to 8%, depending on staked CRO amount

  • Availability: The Crypto.com debit card is available in the US, EU, and Singapore

Monolith

Best crypto debit card for DeFi enthusiasts

Monolith, built on the ETH chain, is the only DeFi platform on this list—there's no custodian involved. Notably, it supports ETH and any other ERC-20 token, giving altcoin holders a lot to be excited about.

-  Pros & Cons

Pros

  • DeFi platform built on the ETH chain, offering custodian-free transactions

  • Extensive ERC-20 token support, appealing to holders of various altcoins

Cons

  • Distinct rewards system centered around the governance token TKN

  • Higher fee structure compared to other providers on this list

-  Why our experts picked it

Rewards work a little differently in the Monolith platform. If a user holds TKN, Monolith’s governance token, at any time they can claim and burn their share of “community contributions,” a 1% fee on transactions levied on non-TKN holders and collected in the Community Chest. However, Monolith does charge more fees than most providers on this list.

  • Fees: 1.75% transaction fee for non-GBP purchases, 1% community contribution fee (0% with TKN), variable ATM withdrawal fees, €0.50 balance inquiry fee, 1% card top-up fee (0% for DAI or TKN), €7.50 paper statement fee

  • Supported Cryptocurrencies: ETH, DAI, TKN, any ERC-20 token

  • Rewards Rates: Proportional to TKN holdings

  • Availability: UK, EU, and Special Member State Territories

Wirex

Best for travelers seeking cashback rewards

The Wirex VISA card is a solid option for international travelers, supporting over 150 fiat currencies and live customer support. Additionally, it has cashback rewards and some of the lowest fees out there: just a 1% fee to top up your account.

-  Pros & Cons

Pros

  • Extensive support for 150+ fiat currencies, catering to international travelers

  • Availability of live customer support for enhanced user experience

  • Attractive cashback rewards and notably low fees, including a 1% account top-up fee

Cons

  • 2% ATM charge on withdrawals exceeding $250

  • Cashback rewards depend on accumulating X-Points for conversion into crypto

  • Specific availability regions limit broader access

-  Why our experts picked it

The Wirex VISA card stands out as an ideal companion for global travelers. Its wide-ranging fiat currency compatibility and live customer support contribute to a seamless experience while abroad. The prospect of cashback rewards, coupled with the low 1% account top-up fee, enhances its appeal.

  • Fees: 1% account top-up fee, 2% ATM charge on withdrawals exceeding $250

  • Supported Cryptocurrencies: 37 including BTC, ETH, LTC, XRP

  • Rewards Rate: Up to 8% back with X-Points (convertible into crypto)

  • Availability: United Kingdom (UK), European Union (EU), United States of America (USA)

What is a crypto debit card and how does it work?

Crypto debit cards help bridge the gap between the crypto and traditional markets, letting holders use their cryptocurrency for everyday transactions and ATM withdrawals. Here’s how they work: 

  1. Using an app or website, an investor pre-loads a crypto debit card with a set amount of cryptocurrency. 

  2. When a cardholder uses the card for a purchase, the card provider automatically converts the proper amount of the preloaded funds into fiat currency and transfers that cash to the seller. 

Most crypto cards are offered by CeFi exchanges in conjunction with major card providers like VISA or Mastercard, making them available for use at millions of vendors worldwide and online.

Can you withdraw money from a crypto debit card?

Yes, you can typically withdraw money from a crypto debit card. These cards are designed to bridge the gap between the world of cryptocurrencies and traditional finance, making it possible for you to use your crypto assets for everyday transactions and even withdraw cash from ATMs.

Why get a crypto debit card?

Crypto debit cards allow you to spend your crypto easily. Additionally, they also offer several other advantages:

  • No or low fees for membership or purchases made while traveling internationally 

  • Protection from unfavorable currency exchange rates 

  • No bank account requirement 

  • Allow you to use multiple wallets and cryptocurrencies 

  • Many offer rewards for spending in the form of crypto “cashback” 

While cashback rewards for traditional debit card spending are typically relatively low (1–2%), crypto debit cards can offer significantly higher cash-back amounts, depending on the provider. 

Do I need a good credit score to apply for a crypto debit card?

No, you don't need a good credit score to apply for a crypto debit card. Unlike traditional credit cards, which often require a credit check and a good credit score, crypto debit cards don't typically have such requirements. These cards are linked to your existing cryptocurrency holdings, and the process is more focused on verifying your identity and ensuring security.

Take advantage of crypto debit rewards

Crypto debit cards offer a unique opportunity to take advantage of rewards while using your cryptocurrencies for everyday transactions. Our crypto tax experts have carefully evaluated these cards to guide you in making the most of their benefits. Here's how you can maximize the rewards offered by crypto debit cards:

  1. First, make sure to choose a crypto debit card that suits your needs and preferences. Our experts have assessed various cards based on factors like user-friendliness, rewards, and fees to help you find the right one.

  2. Many crypto debit cards offer rewards for using them. These rewards could be in the form of cashback, discounts, or other perks. Our analysis has highlighted which cards offer the best rewards and how to earn them.

  3. Check which cryptocurrencies and regular currencies the card supports. Our evaluations cover this aspect, so you can select a card that matches the currencies you hold.

  4. Be mindful of any fees associated with the card. Some cards might charge fees for certain transactions or activities. Our assessments outline these fees, helping you make informed decisions.

  5. Safety matters. Choose a card with strong security protocols to protect your information and assets. Our experts have taken this into consideration when selecting the recommended cards.

  6. Gain insights from user reviews to understand how well the card's rewards and features work in real-world scenarios. Our evaluations consider user feedback to ensure you're well-informed.

By following these steps and leveraging the insights provided by our crypto tax experts, you can confidently use a crypto debit card to enjoy rewards while conducting your day-to-day transactions. Remember, while our analysis provides helpful guidance, we strongly urge you to conduct your own research and select the card that aligns best with your preferences and goals.

Tax implications of crypto debit cards

Every time a crypto debit card is used, a crypto taxable event is triggered. The IRS considers every sale, trade, or disposal of cryptocurrency a taxable event. Thus, when the card provider converts crypto into fiat currency, the cardholder has realized a capital gain or loss. The user must report the transaction on their tax filing and may owe capital gains taxes on the transaction, in addition to any sales tax paid for the purchase of a good or service.  

Example: Charlie wants a cup of coffee from a local bakery. His hot latte costs $3.00, and because he lives in California, is subject to a 7.25% sales tax. This makes his total $3.22.  

Charlie pays for his drink with his BTC debit card. At the time of the purchase, BTC is trading at $35,000, so his card provider converts .000092 BTC into cash. Because the BTC Charlie preloaded on his card was originally acquired when BTC was trading at $30,000, Charlie has realized a capital gain: 

(.000092 x $35,000 = $3.22) -  (.000092 x $30,000 = $2.76) = $.46.

Charlie must report this 46-cent gain and pay corresponding capital gains taxes. 

Even if transactions are for small amounts, the frequent use of crypto cards can result in a large number of taxable events that need to be reported. This can be difficult for those who file by hand or with tax software that isn’t designed for crypto investors. However, crypto tax software can significantly simplify this process. 

Crypto debit cards FAQs

Here are answers to frequently asked questions about the best crypto debit card options for crypto enthusiasts around the world.

Are crypto credit and debit cards safe?

Crypto credit and debit cards generally prioritize safety and security. Our team of crypto tax experts has diligently assessed the cards in this article, with a focus on security. We've looked for rigorous encryption standards, two-factor authentication, and other safeguards that provide users a secure and reliable experience. That noted, always do your own research and understand the risks involved before undertaking any activity in crypto.

What is the most anonymous crypto debit card?

Monolith stands out as one of the most anonymous options among the crypto debit cards we've assessed. Monolith is built on the Ethereum blockchain, which means it's decentralized and doesn't involve a custodian. It supports a range of cryptocurrencies and doesn't require extensive personal information, offering a level of privacy.

Where can I use a crypto debit card?

You can use a crypto debit card at millions of vendors worldwide and online, much like a traditional debit or credit card. Our analysis considered the availability of each card in various regions, making them versatile tools for conveniently spending your cryptocurrencies.

How do I report transactions made with a crypto debit card on my taxes?

The IRS typically considers each transaction made with a crypto debit card a taxable event. You'll need to report these transactions on your tax return, similar to any other cryptocurrency transaction. It's important to keep track of each transaction's date, amount, and purpose to report them on your tax forms accurately.

Are there any tax benefits to using a crypto debit card?

While using a crypto debit card offers convenience, it also comes with tax implications. Every time you use the card, you're triggering a taxable event by converting cryptocurrency into fiat currency. However, if you hold the cryptocurrency for more than a year before using the card, you might qualify for long-term capital gains tax rates, which typically are lower than short-term capital gains tax rates.

Do I need to pay taxes on the rewards I earn with a crypto debit card?

Yes, any rewards you earn with a crypto debit card, such as cashback or discounts, are considered taxable income by the IRS. You'll need to report these rewards on your tax return and pay taxes on them according to your tax bracket. Be sure to keep track of these rewards throughout the year to accurately report them at tax time. If you have any questions, consult one of our crypto tax professionals for guidance.

What are the benefits of using a crypto debit card?

Using a crypto debit card provides several advantages, which makes it an appealing option for crypto enthusiasts. These benefits include convenience, allowing you to spend your cryptocurrency directly without manually converting it to fiat currency for everyday transactions and online shopping.

Crypto debit cards also offer rewards programs like cashback or discounts, often higher than those traditional debit cards, providing additional value for your spending. Accessible at millions of vendors worldwide, in-store and online, wherever major card networks like VISA or Mastercard are accepted, these cards are highly versatile for international travelers and online shoppers. Additionally, crypto debit cards do not require a traditional bank account, making them accessible to individuals without conventional banking services.

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TokenTax reviews take an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

Arthur Teller
Arthur TellerCOO (Former) at TokenTax
Arthur came to TokenTax after 12 years at KPMG. A specialist in partnership taxation and enterprise tax software, he is a licensed CPA in both California and Illinois and a member of the AICPA.
Zac McClure
Reviewed byZac McClureCo-Founder & CEO at TokenTax
Zac co-founded TokenTax after his career in international finance and accounting at JPMorgan, Imprint Capital and Bain. He has worked in more than half-dozen countries and received his MBA from the UPenn Wharton School.

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