Spending of cryptocurrencies in this era has never been this easy - now you can pay your bills, shop online and even withdraw fiat from crypto ATM machines using your crypto debit cards. In these very few years of the introduction of blockchain technology and cryptocurrency, amazing advances have been witnessed but in my opinion, crypto debit cards are really mind-blowing. The adoption of cryptocurrency is now here with us.
Three days ago, we took a look at 2 popular crypto debit cards; Wirex and Bitpay, we also considered their strengths and weaknesses. Here, we will be comparing two other popular crypto debit cards and we'll also look at their pros and cons.
1. SHIFT Debit Card
SHIFT debit card is created and owned by Coinbase which is among the top leading crypto exchanging platforms currently. No wonder SHIFT debit card has been known by many as one of the most popular crypto cards of 2019 particularly in the U.S. Also, it has been adopted by many because of the easy option of integrating your Coinbase account with SHIFT debit card. SHIFT allows you to perform online transactions, pay your bills and even withdraw your cryptocurrencies in fiat - this is a very easy way of converting your crypto to fiat without going through third-party or over-the-counter exchange platforms. Anywhere you can use your normal Visa debit to transact, SHIFT can also be used there.
SHIFT debit card is physically available for only residents in the United States with a coverage of 46states in total - though online transactions (like online purchases) can be made from other parts of the world. The base currency for SHIFT is BTC and can be converted to USD. The cost of getting the card is $20 but it is a one-off payment - that is; there is no monthly operational/handling charges. Also, there is no conversion charges for transactions within and outside U.S, though ATM withdrawals are billed at $2.5 within U.S and $3.50 outside U.S.
To get SHIFT debit card, you need to create account in https://shiftpayments.com and of course, it is advisable to also have a Coinbase account so you can directly link your SHIFT debit card to your account. Coinbase, which is the parent company of SHIFT, has a mobile App, so it will be easy to load your funds into your card on-the-go.
2. Uquid Debit Card
The first card we reviewed has a U.S geographical limitation but Uquid is a crypto debit card that can be accessed from Europe and other parts of the world (though the physical card is not yet available to U.S residents). More so, as against Uquid that has Bitcoin as the base crypto, Uquid accepts Bitcoin and a big range of altcoins like Ripple, Litecoin, Dash, Ethereum - totalling to about 90 cryptocurrencies [ref]. These cryptocurrencies can be converted to USD, EURO or GBP. The physical card is at $16.99 but there is a free promotional offer. Also, there is a monthly operational/handling charges of $1.00. ATM withdrawals attract $2.50 fee within European countries and a flat rate of $3.5 outside Europe.
Judging from other crypto debit cards, Uquid is among the top cards to support bigger range of altcoins. There is no loading fee for Uquid. To get access to Uquid, you need to create account with https://uquid.com and request for your card. Your card should get to you in a couple of days.
Here's a tabular comparison between SHIFT and Uquid cards with their pros and cons:
| SHIFT | Uquid | |
|---|---|---|
| Cost of card | $20 | $16.99 (promotional free offer available) |
| Cryptocurrency supported | BTC | BTC, LTC, XRP, DASH, ETH (about 90 crypto) |
| Monthly operation/handling charges | None | $1 |
| Location usage | USA (about 46 states) | Europe and the wider world (non for U.S) |
| ATM charges | $2.5 within U.S, $3.5 outside U.S | $2.5 Within Europe, $3.5 outside Europe |
| Mobile App | yes | none |
Disclaimer: The content of this article is not meant to serve as financial advice, please do your own research.
