Best Crypto (Bitcoin) Debit Cards Available In Australia

Best Crypto (Bitcoin) Debit Cards Available In Australia

Crypto debit cards allow you to spend Bitcoin (BTC) and other cryptocurrencies, e.g. Ethereum (ETH), Bitcoin Cash (BCH), and Ripple (XRP) anywhere that Visa and Mastercard are accepted. Unlike the case with fiat currencies, there are no crypto credit cards. Spending crypto using cards offers greater convenience than having to go through the trouble of changing crypto to fiat before spending. Furthermore, users can enjoy cheaper transactions, blockchain-powered security, and take advantage of lots of exciting offers. 

Crypto payment cards are typically issued by crypto exchanges, with each exchange having its own terms of use. In Australia, users can get their Bitcoin plastic or virtual cards from one of several exchanges. In this article, we will look at the best options available in the country today.

Crypto.com (MCO VISA Card)

Crypto (MCO VISA Card)

Crypto.com issues payment cards (branded MCO Visa Card) that run on the Visa network. This enables customers to use the cards on any merchant that accepts Visa. 

Contrary to what you may expect, this card does not automatically exchange your crypto to AUD at the point of purchase. Instead, you will need to sell your digital currencies for fiat money before spending.

Card Options

The MCO card comes in a variety of flavors as follows:

  • Midnight Blue – Offered free of charge.
  • Ruby Steel (metal card) – You need to stake 2,500 CRO (Crypto.com token). At the time of writing, 1 CRO = AUD 0.091574. Staking means locking your funds on the platform for at least 6 months.
  • Royal Indigo (metal card) – You need to stake 25,000 CRO.
  • Icy White (metal card) – You need to stake 250,000 CRO.
  • Obsidian Black (metal card) – You need to stake 2,500,000 CRO.

Cashback

It is important to understand the card options available to take advantage of the different benefits that each package comes with. Users receive rewards as cashback when they shop using the card. On selected merchants, some cards offer up to 100% cashback. The data below summarizes rewards that come with the use of these cards. 

Obsidian black: 

  • CRO rewards when you pay with card: 8%
  • Spotify: 100%
  • Netflix: 100%
  • Amazon prime: 100%
  • Expedia: 10%

Icy white: 

  • CRO rewards when you pay with card: 5%
  • Spotify: 100%
  • Netflix: 100%
  • Amazon prime: 100%

Royal Indigo

  • CRO rewards when you pay with card: 3%
  • Spotify: 100%
  • Netflix: 100%

Ruby Steel

  • CRO rewards when you pay with card: 2%
  • Spotify: 100%

Limits

Limits apply for the different card tiers as follows:

Obsidian black: 

  • Monthly withdrawal: $,1000 max
  • Interbank exchange rates monthly limit: Unlimited

Icy White:

  • Monthly withdrawal: $,1000 max
  • Monthly interbank exchange rates: $20,000 max

Royal Indigo

  • Monthly withdrawal: $,800
  • Interbank exchange rates monthly limit: $10,000

Ruby Steel

  • Monthly withdrawal: $,400 max
  • Interbank exchange rates monthly limit: $4,000

Midnight Blue

  • ATM monthly withdrawal limit: $ 200
  • Interbank exchange rates monthly limit: $2,000

Other Benefits

Icy White and Obsidian Black cardholders enjoy other benefits such as airport lounge access for up to 1 guest, 10% off on Airbnb, bonus interest, and an exclusive merchandise welcome pack.

CoinJar Swipe 

CoinJar Swipe

Coinjar Swipe  is an Australian-founded debit card that allows users to spend their cryptocurrencies at over 800,000 merchants with EFTPOS terminals. You can also cash out from ATMs or merchants that offer card withdrawals. At the moment, this card can only be used within Australia. 

Fees

Coinjar Swipe has among the friendliest fees. The company does not charge a fee for activations, transactions, monthly maintenance, or even’ inactivity.’ The company notes that charges that appear on users’ statements are only for accounting purposes and do not affect their balances. The following is a breakdown of Coinjar Swipe’s fees:

  • Ordering the card – $29 for printing and encoding
  • Reordering lost card – $29 for printing and encoding
  • Card, activation, loading funds, EFTPOS purchase/withdrawal, inactivity – $0
  • ATM withdrawal – Depends on the machine
  • Disputed transaction – $10 per dispute

Limits

Coinjar Swipe also imposes limits on the number of transactions, amount, and card balance as follows.

  • Total daily transactions (all types of transactions) – 25
  • Withdrawals – 10 times
  • Maximum daily top up – $999
  • Maximum daily spend – $999
  • Maximum card balance – $999

Cashback and Other Benefits

When it comes to rebates, cashback, and other benefits, Coinjar Swipe does not seem to have much of that. At the time of writing, the company did not have any cashback reward programs for its crypto debit card. 

Binance Visa Card

Binance Visa Card

Binance, one of the world’s largest crypto exchanges, introduced a payment card that its customers can use at any Visa-accepting merchant across the globe. The Binance card automatically converts your crypto to the local currency at the point of sale. The card, which debuted in Europe in July, is now available in Australia. 

Fees

Transaction fees and other charges on the Binance card are relatively low. Apart from the initial $15 charged when ordering the card, users are not charged for transactions or other administrative fees such as annual card maintenance. 

Cashback

The Binance card comes with generous cashback rewards. Depending on how much BNB (Binance coin) you stake in your Binance crypto wallet, you can earn up to 8% cashback. Staking on Binance involves holding some BNB balance for 30 days. The actual cashback rates for an average stake (BNB held last 30 days) are as follows:

  • 0 BNB held last 30 days – 1%
  • 10 BNB held last 30 days – 2%
  • 50 BNB held last 30 days – 3%
  • 200 BNB held last 30 days – 4%
  • 500 BNB held last 30 days – 5%
  • 2,000 BNB held last 30 days – 6%
  • 6,000 BNB held last 30 days – 8%

Other Benefits

One of the best features of the Binance card is that it allows you to keep HODLing your crypto, like you would save in your bank account, until such a time when you are ready to spend, and even then, only the amount spent is converted. To add to the premium user experience, you can link your Binance Visa with Google Pay and Samsung Pay and use your crypto balance to pay for in-app purchases, online payments, contactless payments, and more. Additionally, managing your card is a smooth experience facilitated by the Binance card mobile app.

Wirex Visa Card

Wirex Visa Card

The Wirex card automatically allows you to convert over 12 cryptocurrencies right at the point of sale. With this card, you hold your balances in crypto and shop without manually converting them to fiat, and all this can be done at any Visa-accepting merchant. The card is easily managed through the Wirex mobile app.

Fees

Compared with other companies, Wirex charges are above average. The card is issued free of charge, and so is the first replacement. Anything after that will cost you 10 euros for each replacement. At the ATM, you will pay €2.25 plus 3% of the transaction value. Card payments attract charges amounting to 3% of the transaction value. If your payment bounces due to insufficient funds, you will also be fined €0.06. Finally, balance inquiry costs €0.23. 

Cashback and Other Benefits

On cashbacks and rebates, the company offers a modest 1.5% cashback on purchases made with the card. This is not the best rate in the market, but it’s better than nothing. The maximum amount you can hold in the Wirex card is USD 1,000.

Cryptopay Visa Card

Cryptopay Visa Card

The Cryptopay Visa card (stylized C.Pay), like most crypto cards, allows you to spend crypto at an outlet that accepts regular card payments, including billers supported by bpay. C.Pay is one of the few crypto cards that is secured by Verified by Visa (you enter a password sent to your phone when shopping online). The card comes in plastic and virtual varieties. Plastic cards are meant for use with physical points-of-sale, while the virtual card is more geared towards online payments.

Fees

C.Pay’s charges are above market averages but still not the highest. The figures below summarize the charges.

  • Virtual card initial issuance – Free (offer price)
  • Plastic card initial issuance – €5 (offer price)
  • Loading the card through supported payment methods – 1% of the transaction value
  • Monthly management fee – €1
  • ATM withdrawal – €3.5 flat rate
  • Foreign exchange fee – 3%

Limits

When it comes to transaction and balance limits, C.Pay has among the highest in the market – you can spend up to €30K in a single online transaction with the virtual card. However, the plastic card has lower limits due to restrictions by merchants and other stakeholders. The daily loading limit is €30 while the daily withdrawal limit is capped at €450. 

Cashback and Other Benefits

Cryptopay does not have a cashback program for its payment card yet. However, you can earn some decent rewards by referring friends to the platform. When someone joins Cryptopay using your link, you get 10% of the fees they pay. Even so, you need to note that you don’t need to have this card to participate in the referral program. 

Coinbase Debit Card

Coinbase Debit Card

The Coinbase card will connect to your Coinbase account to allow you to spend crypto at a Visa-accepting merchant. Coinbase exchanges your crypto to US dollars at the point of sale. This saves you the hassle of selling your digital coins every time you need to spend at a merchant that does not accept crypto. However, if the merchant does not accept USD payments, another conversion will happen on the Visa network, which might cost you a little more.

Fees

At the moment, you can hold Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), or Bitcoin Cash (BCH) in your wallet for use with the card. The company does not charge for signing up for the card; neither do they charge monthly fees. However, other fees are charged as follows:

  • Issuance of the plastic card – 4.95 €
  • Cash withdrawal either at an ATM or over the counter – Free when you withdraw up to 200 € or equivalent per month. For amounts exceeding 200 €, you will be charged 2% of the transaction value
  • Purchase payment at a POS – 3% of the transaction value
  • Replacing lost cards – 4.95 € for every replacement
  • Processing chargebacks – 20 €
  • Crypto liquidation – 2.49% of the transaction

A full fee statement is also available on the Coinbase Card App Settings

Cashback and Other Benefits

Cashback rewards for using this card rank average – you earn up to 4% of what you spend. There are no other rewards, such as referrals, that the Coinbase card users can take advantage of.

Bitpay Debit Card

Bitpay Debit Card

Unlike the other prepaid cards we have reviewed, Bitpay’s payment card is powered by Mastercard. That doesn’t make much difference since Mastercard is also globally available. Getting the Bitpay card is as easy as downloading the app, loading the wallet, and ordering it. The card can be used for purchases and withdrawals, including over the counter cash withdrawals, just like most cards support. 

Fees

No fee is charged for loading the card (although bank transfers are not supported), but conversions are subject to the prevailing exchange rates. Card issuance or replacement is charged $10, ATM withdrawals $ 2.50, foreign exchange conversion 3%, and inactivity $5 per month after 90 days of no transaction. Merchant payments cost 3% of the transaction value. No monthly maintenance fee is charged.

Limits

As for card limits, you can withdraw a maximum of $2,000 per transaction a maximum of three times a day. Loading and spending limits are $10,000 per day, while the maximum balance you can hold is $25,000.

Cashback and Other Benefits

The Bitpay payment card does not come with any cashback or other reward programs yet. 

Conclusion 

Crypto debit cards are set to transform the way we spend digital currencies – they are bridging the gap between crypto and fiat money even more. Although these cards are relatively new in the market, several cryptocurrency exchanges have jumped at the opportunity to avail them to users. Besides benefiting from the convenience of paying for what you like with crypto, some of these cards offer cashbacks through which users can earn as they spend. The transaction fees vary among card issuers, but you can be sure you will not find them exorbitant. Also, although the different card issuers impose transaction limits, they are not prohibitively low. Bottomline, this is a good time to get yourself a crypto payment card to help you unlock the full power of crypto as a transactional currency.