Having debit cards that can link to a cryptocurrency wallet gives you the added advantage of being able to spend your tokens in most places where fiat money is used.
They are very convenient solutions, for the time being, hence the reason why they are gaining popularity with crypto users.
Challenges have existed since their first use, but some have survived while new market entrants keep cropping up every once in a while.
The stagnancy in the crypto market experienced last year made many businesses have to adapt to strict regulations and some unpleasant market conditions.
Some continue to brave the tough conditions while some simply chose to scrap the feature that lets customers spend money from their token wallets.
The company that issued ‘Shift’ has, for example, changed its brand name to Apto Payments. Is the situation that gloomy as we speak?
There still remain some viable card options that you can use to spend your digital assets within physical stores or through some online merchants who can convert them to fiat. Even more interesting, these cards can still be used to withdraw local currencies from ATMs scattered around the globe.
Paycent is one such card that lets people withdraw various coins available in their Paycent wallets. These coins include BTC, ETH, Binance, and Dash. It is run by a company operating from Singapore (Texcent Asia).
Paycent offers three types of cards;
- Ruby card – for China Union Pay.
- Solitaire card – for Mastercard.
- Sapphire card – for Union Pay International.
Another card that is still widely in use in mid-2019 is Wirex. Wirex is a Visa card that is mostly used in Europe and is issued by Bitpay. It lets users access their Bitpay wallets and is so far compatible with the (BTC) and (BCH) tokens.
It works well for US residents that want to use it in stores that accept Visa cards around the world. You can get a cash-back of up to (0.5% BTC) every time you make an in-store payment using it.
Cryptopay ships a prepaid card that offers BTC, ETH, Ripple, and Litecoin. It covers Europe and UK clients and will soon offer services in Singapore. You can have both the physical and virtual versions of the card, which can then be used to shop online, in stores and for fiat withdrawals.
If you have a Uquid account, you can order a virtual or physical card and enjoy unlimited online usage. It also supports ATM and till spending without any fees charged. It supports 89 different tokens which can all be swapped to Sterling pounds, Euros and US Dollars. It is free to order and only costs ($17) if a user orders the physical version of the card.
Bitnovo’s mobile wallet lately issues debit cards that can convert your available tokens into Euros. One advantage is that the user does not need to have a bank account, yet the issued cards can be used online or in physical stores and ATMs. It’s
Bitcard is only available for EU residents does not need registration, but it limits the total balance according to basic, level plus and premium. These have a maximum limit of (€250), (€2500) and (€1500), respectively.