Why get an Ethereum debit card? It’s nice to own your very own Ether tokens — but being able to spend them is even better. If you get an Ethereum debit card, you’re able to spend Ether in stores, online, and withdraw cash from ATMs. Sounds too good to be true? Then read on.
The Best Ethereum Debit Cards
There are a number of debit card issues that now specialize in cryptocurrency. They’ve formed a partnership with Visa and Mastercard, which is coming along quite nicely. The concept is very simple and based on the already well-known concept of prepaid debit cards. For the uninitiated, a prepaid debit card is a Visa or Mastercard you can load money onto and then spend as normal. It’s typically not tied to your own bank account, but rather the card issuer’s account.
How does Ethereum debit cards work?
In the case of Ethereum debit cards, the card is tied to both a current account and one or more cryptocurrency wallets. How many wallets you get depends on how many different cryptocurrencies the card issuer supports. Once you create an account with the card issuer, you will have access to the following:
- Cryptocurrency wallet(s)
- Bank account
- Virtual debit card
- Physical debit card
One of the most popular Ethereum debit cards is UQuid. The card is issued by a British company, which explains the name. The term ‘quid’ is slang for GBP. It’s a popular card because it not only supports Ethereum, but also Bitcoin, Dash, Litecoin, Ripple, Monero, and 80 other different altcoins. Furthermore, the card also supports three different fiat currencies: GBP, EUR, and USD.
TenX is another community favorite amongst the Ethereum debit cards. It sets itself apart from the competition by offering a slew of attractive rewards. One of the rewards is a cash-back scheme, in which users receive 0.01% cash-back in cryptocurrency. This cryptocurrency can then be converted into fiat money. In addition to these rewards, the card is also known to be very versatile. One of the unique selling points of the TenX card is that it doesn’t charge any transaction fees.
Canadian fans of Ethereum will want to check out ShakePay. The card company prides itself on its simplicity and ease-of-use. It supports three different cryptocurrencies: Bitcoin, Dash, and Ethereum. As opposed to other cards, ShakePay charges a flat rate for converting cryptocurrency into fiat money. The card itself costs $15 to order, and $1 per month in service charges. The only downside of ShakePay is that it’s only available to Canadian residents.
Monaco was the company that managed to purchase the sought-after domain name Crypto.com. With such a prestigious domain name, one would assume that the product advertised on the site is of a premium nature. And Monaco doesn’t seem to disappoint. The company offers no less than six debit cards with different benefits attached to each one. The card is currently only out in Singapore but is scheduled to be launched worldwide soon.
Another great domain name is TokenCard.io, which of course belongs to the Token card. the card supports multiple cryptocurrencies, as well as the Holy Trinity of fiat money: EUR, USD, and GBP.