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Let’s Simplify Things! Crypto Cards! 50USD @ Crypto.com

By DrYunani | Simplify | 25 Aug 2020


A warm welcome to another Let’s Simplify Things! post!

In this post let us have a look on crypto cards, their benefits.

You will probably already noticed that I have not used the term credit card but simply card as none of them ( as far as I know ) is actually a credit card.

For various reasons, mainly compliance with the various local government regulations, the companies offering these cards can only offer pre-paid cards.

A pre-paid card is simply a card that you load with money and can use it in the relative network, be It mainly Visa or MasterCard.

And that is actually a good thing as the risk goes down to almost zero.

So far Visa and MasterCard don’t authorise them as banks so, they cannot offer full credit or debit cards.

To keep it simple, the difference between debit and pre-paid cards is that the debit card is connect to your account directly and for that you need to comply with more regulations.

While the prepaid card is, to make it simple, like a gift card, you a pre-load the card with a certain amount and you can only spend that amount.

That is why if you have a look at the company structure of most of those offering these cards you will see that there are different companies for the exchange/wallet and the card.

Now you will ask is it safe? And shall I get one?

As for the safety part, yes, it is as, it is a pre-paid card and the amount you have loaded in is under your local regulations for this kind of cards.

Now if you should get one? I would say in general yes.

Especially considering the current status of high competition between the various companies that offer them and the great perks this competition brings to the end user.

Be it high cash back, free services like: airport lounges, free travel insurance, Netflix, Spotify, Amazon prime, etc. and some of them for no monthly or annual fee!

So why miss out on that?

I would avoid the ones that ask for monthly or yearly maintenance fees.

Why pay when there are free options out there that do the same job?

I will also strongly suggest to have a good look at the fees structure and various benefits each offer to find the best choice for your needs.

Also, not all of them are offered worldwide so you have to check your local availability.

For convenience following find the names of some of the most popular ones:

  • Crypto.com
  • Nexo
  • TenX
  • Monolith
  • BlockCard
  • Revolut
  • Bankera
  • Coinbase
  • BitPay
  • WireX

Be sure that the list will grow in the near future and you will see big names and financial institutions themselves offering the option to spend your crypto via their cards.

Also, PayPal is soon to enter the crypto space and this will bring a whole new level of interest for the world of cryptocurrencies.

But that is for a future post.

Personally, I use Crypto.com. It is free, gives good cash back and perks like free Spotify, Netflix, Amazon Prime, etc. ( depending on your level ).

The card is currently available in EU, UK, USA, Singapore and according to them soon globally.

The way I use my card is by loading it with small amounts according to my spending needs and mostly with FIAT as I like to HODL my cryptocurrencies.

I actually try to use my card as much as possible because of the cash back, and so far, I’m very satisfied.

Finally before saying goodbye I want to let everyone know that I have no sponsors, this post is not sponsored by Crypto.com or any other website.

You will only find my personal referral link, that I highly appreciate if you use them to access Crypto.com!

The above reflect my personal views and by no means should be taken as a recommendation to use or not use any service or equipment whatsoever! 

Please feel free to make any suggestions or comments especially on what you would like to see next being simplified!

Until the next post....

Thank you all from the bottom of my heart!

 

By using my Crypto.com referral link you get 50 USD!

The link is : https://platinum.crypto.com/r/9lb6yfxu14

Thank you!

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DrYunani
DrYunani

Always trying to say things as they are! In a simple and honest way! Interested in a variety of subjects. Join my Blog Let's Simplify Things! and get a simple, honest opinion and description on a variety of subjects!


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