Crypto credit cards are similar to traditional credit cards but with a twist. Instead of using traditional currencies, crypto credit cards deal with digital cryptocurrencies. This means that the cards use cryptocurrencies for withdrawal. Moreover, you can make transactions, and transfer digital currencies. Crypto credit cards don’t get the money from your bank account. The cryptocurrencies come from your digital wallet.
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Moreover, with crypto credit cards you get rewards and cashback whenever you swipe your card. This means you may end up earning some extra bits of bitcoins each time you make purchases.
If you have been thinking of getting crypto credit cards, here are some of the reasons why you should.
Benefits of crypto credit cards
1.You earn extra rewards
Crypto credit cards give some enticing rewards to the users. Let’s take an example of the crypto.com visa card, cardholders get a 100 % rebate for their loved subscriptions. In addition to this, you could either get a 1% or 8% reward based on the card tier. You also get rewards for travels such as a 10% reward on Airbnb purchases.
Gemini on the other hand gives 3% on dining,2% rewards on groceries, and 1% on any other purchase. The rewards are paid via Bitcoin and members get to enjoy some perks that come with the master card. If this is not enough reason to get a crypto card then read on.
2.Crypto credit cards are accepted everywhere .
Crypto credit cards partnered up with some of the most powerful payment processing networks. These are Master Card and Visa. This means that if a card is powered by a master card, it can be used in areas where a master card is accepted. The same goes for those facilitated by visa.No need to worry about not using your cards when the cards are facilitated by these two processing networks.
3.Crypto credit cards are protected
Security is a guarantee since credit cards are facilitated by two powerful processing networks. Moreover, some crypto credit cards have gone a step further to ensure utmost security. Coinbase has enhanced its security steps by adding an additional two-factor authentication. You also get the option to instantly freeze your card keeping you in control.
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4.Compatibility with other cryptocurrencies
Most crypto rewards on these credit cards are compatible with other cryptocurrencies. Take for example Gemini. The credit card is compatible with more than 50 cryptos currencies.Crypto.com on the other hand is compatible with more than 90 different cryptocurrencies. This makes earning your rewards more flexible since you could get them in the currency you’re comfortable with.
After learning of all the benefits of crypto credit cards, here are examples of the cards you could get.
- Wirex Visa card
- Coinbase Visa debit card
- Gemini credit card