Categories: EducationFAQ

Which Bitcoin Debit Card Should I Choose?

Bitcoin debit cards remain an interesting way to spend digital currency at millions of locations around the world, as well as over the Internet. Now that so many companies are offering a Bitcoin debit card, it is time to do a quick overview as to what they offer, how anonymous they are, and how much it will cost to use.

Also read: Is A VC Beneficial To A Bitcoin Or FinTech Startup?

The Game of Bitcoin Debit Cards

Anonymity is an appealing factor in the world of Bitcoin debit cards, although it can be much harder to come by than most people assume. Cryptocompare has put together a comprehensive list of which card offers what, and it appears CoinsBank – formerly Bit-x – is the clear market leader with their Anon Card. It is interesting to note this card is available in EUR, USD, and GBP, and will cost 24.90 in the respective currency.  Top-ups will take place instantly, which is an bonus.

Xapo, one of the most well-known companies in the Bitcoin debit card sector, offers Medium anonymity. Their cards are available in the three aforementioned fiat currencies as well and are slightly cheaper with a US$18 price tag. Fees are also slightly lower – based on the CryptoCompare information – and makes for an attractive solution for people looking to spend digital currency more conveniently.

WageCan is a company which recently entered the Bitcoin debit card, and they offer the same level of anonymity as Xapo. However, these cards have no monthly fee, albeit the cost per card is US$30. Moreover, this card can only be obtained denominated in USD, which means international users will have to worry about conversion fees as well.

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For people looking for little to no anonymity at all, the world is one’s oyster. CoinsBank offers two other types of debit cards – Named White and regular – which offer little to no anonymity. Prices differ between US$19.90 and US$99.50, with the named White card removing monthly fees. Both of these types are available in the three aforementioned fiat currencies.

Other companies are trying to make for themselves as well, including AdvCash, Bitstamp – USD only -, Coinomat, CryptoPay, Wirex, Shift, and SpectroCoin. Cryptocompare has a nice comparison of all of these cards’ fees, their initial purchasing cost, and whether or not there are monthly fees to take into consideration. Users looking for a USD card will have the most options at their disposal although EUR and GBP users will have plenty of options to choose from as well.

Source: CryptoCompare

Images credit 1,2

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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