Bitcoin and other cryptocurrencies are gaining popularity in India. But currently it cannot be used directly to make payments. One has to go to their crypto exchange and convert crypto into fiat currency (cash) and then transfer it to their bank account. Crypto-based debit cards can facilitate this process as they can automatically exchange crypto for cash. We will discuss some of the best Bitcoin and other cryptocurrency-based debit cards in India and their advantages.
Also read | 5 ways to buy things with Bitcoin and other cryptocurrencies IndiaBitcoin, other crypto-based debit cards in India
There are only a few options when it comes to Bitcoin-based debit cards in India. Some cards support limited currencies and some come with high fees. There are also different levels of these cards that offer different benefits, so it goes without saying that one should do a thorough research about the card and the company itself.
That said, let’s take a look at some of the best crypto-based debit cards in India. These are listed in no particular order.
Also read | Bitcoin ETFs: How It Works, How To Buy In India, Benefits & MoreWirex debit card
- Supports 25 different cryptocurrencies
- No fees for converting crypto to currency
- No issuance fees and monthly fees
- Requires you to have a WXT token in your wallet to earn cashback
Wirex offers VISA debit cards that can be used physically or virtually for all transactions. It supports about 25 different cryptocurrencies and does not charge any fees to switch crypto to mainstream currencies. It offers up to 2% cashback and rewards in WXT, the native crypto of Wirex exchange. You don’t have to pay an initial issuance fee or monthly maintenance fee.
You can withdraw up to 30,000₹ from ATMs at no cost and get unlimited spend on automatic debit card payments. It is one of the popular options, but you must have WXT tokens in the Wirex exchange to receive cashback in WXT.Coinbase Debit Card
- Use-anywhere VISA cards are accepted
- Variety of security features
- Offers up to 4% cashback
- Only 9 cryptocurrencies supported
- 2.49% fee for switching from crypto to cash
Coinbase, the widely known popular crypto exchange platform, offers its own VISA debit cards that are currently available in the US and European countries, but will make its way to India in 2022. The card allows you to pay with crypto anywhere and US dollars VISA cards are accepted.
It supports 9 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and instantly switches the crypto in your wallet to your preferred currency. Coinbase offers up to 4% cashback on every transaction and can be used for online, retail and cash withdrawals. It offers a variety of security features, such as 2-factor authentication, instant card freezing, and a spending tracker. It will likely bring many benefits once it is available in India.Crypto.com Prepaid Debit Card
- Supports about 90 cryptocurrencies
- No issue or monthly fees
- Worldwide accepted
- Can provide free Spotify and Netflix subscription
- Benefits are based on the money you invest
- You need to buy CRO tokens
Crypto.com has its own debit cards that are made of metal and have a premium look and feel. These cards are prepaid debit cards, so you need to add money from your wallet to your card to use them. It is available in 5 different levels and offers different benefits depending on the level you buy.
You need to stake or lock CRO tokens in Crypto.com for 6 months. The amount of token you wager determines the level of your card and its benefits. If you apply for a card without staking, your card only gives 1% cashback. The second tier where you have to wager CRO worth ₹30,000 will get you 2% cashback benefits, a higher withdrawal limit and a free Spotify subscription.
Since it is a VISA card, you can use it wherever VISA cards are accepted and it supports about 90 cryptocurrencies.Binance debit card
- Up to 8% cashback benefits
- Supports about 30 different cryptocurrencies
- Protected by the highest Binance security standards
- No issue or monthly fees
- Requires you to have BNB tokens in your wallet
- 0.9% transaction costs
Binance VISA debit card is another Binance product in their growing list of features and services. This debit card offers the highest cash back percentage of any of the cards we’ve reviewed, up to 8% cash back on eligible transactions. although there is a condition. To get the optimal amount of benefits you need to have 600 Binance Coins BNB in your wallet and all the cashback earned will be in BNB as well.
There are no issuance or monthly fees and the card supports about 30 different cryptos. You can use it at any online, retail store or ATM, but there is a 0.9% transaction fee that is separate from any ATMs. It is generally a good service and comes with standard Binance security measures.Nexo debit card
- Up to 2% cashback benefits
- can choose to get cashback in NEXO or BTC
- No issuance or hidden monthly fees
- Can be frozen and thawed with a single tap
- Does not support many cryptocurrencies
Nexo is another crypto exchange platform that has come up with its card. Nexo debit card is issued by Mastercard and works just like other cards in the list. You can get up to 2% cashback on all your transactions, but unlike other cards, here you can choose whether you want your cashback in NEXO Coins or Bitcoins or you can even switch between the 2.
There are no issuance fees or monthly fees, and you can create virtual cards that you can use through Apple Pay and Google Pay. Any foreign exchange, surcharges for Point-of-Sale payment and inactivation costs will not be charged. Nexo wallet has military-grade 256-bit encryption and a 24/7/365 fraud monitoring system. This protects against fraud and ensures the security of the funds and transactions made by its clients.
Also Read: 3 Best Crypto-Based Loan Platforms in India, How They Work, Key FeaturesTo block
These were some of the best Bitcoin-based debit cards in India to look out for in 2022. We could see a wave of crypto-based cards as the popularity in the crypto market grows day by day and some Indian vendors may start accepting Bitcoin for payments. That remains to be seen, but remember to do your own research before applying for one of these debit cards.
You can also follow us for instant tech news on Google News or for tips and tricks, smartphone and gadget reviews, join GadgetsToUse Telegram Group or subscribe to the latest review videos on the GadgetsToUse Youtube channel.
Stay tuned for more such real estate news and updates at zavalinka.in