It’s an exciting innovation in the credit card industry to incorporate cryptocurrency to the list of fiat money. However, having a crypto card is a bit more complex than a traditional credit/debit card, so here are a few things to consider before you apply:
- Fees: some cards charge an annual fee, while others are completely free. Foreign transaction fees are common, but you can find cards without them, which is an especially good idea if you often travel abroad.
- Flexibility: each crypto card has a different portfolio of cryptocurrencies. If you want to invest in specific coins, be sure to find out if the card, and the exchange that supports it, will allow you to invest in the coin you want.
- Benefits: many crypto cards offer cash back and rewards.
- Limitations: Because of varying state laws around the county, not every crypto card is available to everyone and everywhere.
As cryptocurrencies gain popularity, the number of crypto credit cards available is steadily increasing. That means consumers need to be especially discerning before making a choice. Here is the list of the most used crypto credit cards on the market with a review and comparison of their features to help you decide which card is the best for you.
Do not forget to make your own research before applying for a crypto credit/debit card. Additionally, remember that it’s important to always spend responsibly, even if the rewards can potentially increase in value. Credit card debt is never a good idea, and overspending on a credit card could lead to heavy interest charges.