I recently heard about the Moonwell Card and got curious. It's a crypto debit card that lets you spend your onchain assets globally while keeping your funds "onchain"—sounds cool in theory. But as someone who's tested a few crypto cards, I can't help but compare it to others like Crypto.com and Gnosis Pay. Let's unpack the pros and cons.
First off, KYC. Moonwell’s docs clearly mention it's required. Crypto.com and Gnosis Pay likely have similar processes, though Moonwell/Gnosis's self-custodial model feels more privacy-focused—no middlemen holding your funds.
What about cashback? Moonwell doesn’t shout about it in their marketing. Their focus is on features like instant card freezing, real-time alerts, and borrowing against your crypto. So you spend the USD that you borrow against your crypto, what would avoid taxable events... Kind of Nexo, but self-custodial. Meanwhile, Gnosis Pay offers up to 5% cashback with zero transaction or FX fees—hard to beat.
So, is Moonwell worth it? For casual users, maybe. But after testing Gnosis Pay, I’m sold. Their no-fee model, instant crypto spending, and cashback sealed the deal. Plus, their current offer gives a 100% discount if you use a referral link - click below if you're interested.
