UK Crypto Cards – Crypto.com vs CoinJar vs Nexo

So you’ve invested in crypto, and you’ve manage to make a profit, but how do you actually spend your crypto earnings? Well, a lot of people have been asking me this question. The answer is quite simple. You just need to sign up to one of the few crypto platforms that offer crypto debit cards. Once you have your crypto debit card in hand, you’ll now be able to spend your crypto earnings on purchases at stores, or at online retailers that accept VISA or MasterCards.

Come get yours… Crypto debit, prepaid and credit cards 😍

Zer0 fees
Zer0 charges
0% apr#nexo #crypto #coinjar #btc #bitcoin #vloggerlife #digitalnomad pic.twitter.com/uXB5blCbMx

— Winston (@WinstonChim) May 12, 2022

One thing I must mention before I start … is that these crypto debit cards are NOT widely available for everyone. It all depends on your country of residence and your citizenship status. The regulations for KYC (know your customer) and AML (anti money laundering) processes are different for each country. For example, because I’m based in UK, I’m not able to get a Binance card (EU) or a Coinbase card (US). 

As a UK citizen, I was able to get the following crypto cards shown below.

	Crypto.com	CoinJar	Nexo
App Available
Card Type	Debit	Debit	Credit
Widthrawl/Deducted from	Top-up	Deducted Directly	Based on your collateral
APR	N/A	N/A	0% – 6.9%
Virtual Card	N/A	Yes	Yes
Physical Card	Yes	Yes	Yes
Card Maintenance Fee	None	None	None
Tiered rates/service	Yes	N/A	Yes
Cash back	2% – 8% in CRO	N/A	0.5% in BTC or 2% in Nexo
Desposit required	Yes in CRO	No	No
Know Yor Customer (KYC) for AML	Yes – ID required/Address Proof	Yes – ID required/Address Proof	Yes – ID required/Address Proof
Purchases (Max.)	Daily Transactions: $25,000 Monthly: $25,000 Yearly: No Limit	Daily: £5,000 25 transaction max per day Monthly: £15,000 Annual: £50,000	Transactions: $5,000 Daily: $5,000 Monthly: $60,000
Transaction Fees	Purchases: None Foreign transaction: Nome	1% of the transaction amount Foreign transaction: +2.99%	Foreign currency conversion fee at 0.5% of spend
ATM Cash Widthdrawl (Max.)	Daily Zero-fee Cash widthdrawl: $1,000 3 transactions max per day Monthly: $10,000 Yearly: No Limit	Daily: £2000 5 transactions max per day	Cash widthdrawl: $600 Daily: $2,000 Monthly: $10,000
ATM Fees	2% thereafter Interbank rates monthly limit: €4,000/£3,600	1% of the withdrawal amount	$0.79 per transaction (within EU) $1.50 per transaction (outside EU)
	More information	More Information	More Information

Verdict and Conclusion

One of the first crypto cards I managed to get was the Crypto.com debit card, and I’ve been using it for over 2 years now. No issues what so ever and it’s been perfect. I just need to top-up the debit card whenever I need to use it, using the cryptos I have in my wallet.

The Coinjar debit card is a new comer. I managed to get one only last month. It works differently, by deducting the amount spent directly from the crypto portofilio itself. There’s no need to top-up, but the you need to remember your crypto holdings will decrease over time.

Nexo is another well “sought-after” crypto credit card. Notice I said “credit card” … yes it is a fully fledge credit card with credit limit detemined by the amount of cryptos you fold in your portfolio. You can also borrow against your crypto portolio, your crypto will be used as collateral. Sound s good, but you need to hold a large amount of crypto to get a decent credit limit.