HomeCryptocurrencyWhat are crypto cards and how do they work?

What are crypto cards and how do they work?

What are these credit cards based on an account powered by cryptocurrencies? Can we use them anywhere? What are the differences from traditional credit cards? What features does it offer?

First launched in 2019

Over the years, various websites have accepted Bitcoin payments, including Expedia, Subway, Twitch or Microsoft. Some bars or shops even accept this type of payment.

Demand for crypto cards came from Coinbase users who want to use their assets in daily life. To meet this demand, Coinbase launched a card in the UK in April 2019.

Then, in June 2019, this card became available in the United States, France, Spain, Italy, Ireland, Germany and even the Netherlands. Now, there are many providers offering such crypto cards: Binance, Curve, Crypto.com, CryptoPay…

kripto kartları ile ödeme

Crypto cards accepted at almost all outlets

Similar to a classic card, a crypto card is accepted at almost all outlets in the world. It also allows you to withdraw money from any ATM.

It is also possible to use it for mobile payments (Apple Pay, Google Pay). The main difference is that a crypto card-related account is in a currency such as Ethereum, Bitcoin, BNB, CRO and other cryptocurrencies rather than being funded in euros or dollars.

Visa and Mastercard support

One factor can reassure users of a crypto card: they are backed by Visa or Mastercard. These institutions want to support the digital transformation of financial services. Visa also stated that in the first half of 2021, spending with crypto cards supported by its brand reached one billion dollars.

kripto kartları visa mastercard

Advantages of crypto cards

What are the advantages of having a crypto card instead of a traditional card? First, management costs are significantly reduced. Since the underlying technology (blockchain) is extremely secure, the reliability of transactions is very high.

But that’s not all. Some crypto cards offer bonuses and rewards, including cashback on purchases. As with Binance, this refund can go up to 8% if you’re ready to “immobilize,” i.e. keep a certain amount in your account. This cashback is donated in cryptocurrency and therefore helps you grow your portfolio with every purchase. For example, Binance rewards the user with a balance in BNB (own currency).

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

Follow us on Social Media!


Related Articles

Binance’s BNB Chain bridge was hacked: $718 million lose is calculated

The BNB Chain developed by the cryptocurrency exchange Binance was hacked in the early morning of the 7th! The official cross-chain bridge (BSC Token...

Microstrategy is not afraid of bear market and buys 301 Bitcoins

Long-term optimistic about Bitcoin's micro-strategy, he entered the market again to buy 301 BTC, with a total investment of about 6 million US dollars,...

Hackers use Deepfake to impersonate Binance executives’ faces for cryptocurrency scams

A Binance executive pointed out that the hacker group used Deepfake (deep fake technology) to create an AI holographic projection like his face, and...

ETH option contracts will be released before Ethereum upgrade on September 15

Ethereum is about to usher in the much-anticipated Ethereum 2.0 mainnet on September 15th. Many people believe that Ethereum will usher in a surge...

Explore More Articles


Sons of the Forest: How to Craft a Bone Armor?

Armor is surprisingly important in Sons of the Forest . If you plan on delving into the spooky caves that dot this new island, you'll want to...
The night sky is full of black holes instead of stars

The night sky is full of black holes instead of stars

This is a seemingly ordinary starry sky photo (see the first picture), but it is a more special celestial body than luminous stars, that...
Gene customizing and cloning business become more Popular

Gene customizing and cloning business becomes more Popular

Replicating beauty pageant camels, replicating equestrian racing horses, replicating high-yielding super cows... With the gradual popularization of animal replication technology, people can use technology...

Sons of the Forest: The Best Places to Find Aloe Vera

If you want to find Aloe Vera in Sons of The Forest, this is the guide for you. Since you'll find yourself stranded on...