Despite the popularity of Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other crypto assets, only a limited number of countries officially recognize them as legal means of payment. In most jurisdictions, direct payments in cryptocurrency are either prohibited or not yet regulated.
This issue has been partially addressed by fintech services and crypto exchanges that offer users crypto cards.
What is a cryptocurrency card
A crypto card (or cryptocurrency card) is a payment instrument that allows users to spend their accumulated cryptocurrencies on everyday purchases.
One of the first crypto cards is considered to be the product of the British fintech company Wirex, launched in 2017 in partnership with the Visa and Mastercard payment systems. However, there is evidence that the first crypto cards appeared as early as 2012.
By type of use, crypto cards are divided into three categories:
debit;
credit;
prepaid.
Cards can be either physical (plastic) or virtual. In terms of functionality, they largely resemble traditional bank cards but are designed to work with digital assets. They allow users to:
make online and offline payments using cryptocurrency;
transfer funds;
access credit products;
open deposits with interest accrual.
How a crypto card works
A cryptocurrency card supports the storage of various digital assets: BTC, ETH, BNB, XRP,SOL, as well as other altcoins* and stablecoins*.
* Altcoins are all cryptocurrencies issued after Bitcoin that differ from it in architecture, purpose, or economic model. Altcoins are created to solve problems that Bitcoin does not address or addresses only partially, such as increasing transaction speed, reducing fees, supporting smart contracts, and developing decentralized finance, NFTs, and Web3 applications. This category includes both major blockchain platforms (Ethereum, Solana, BNB Chain) and niche projects with narrow specialization. As a rule, altcoins are characterized by higher volatility and investment risk compared to Bitcoin.
* Stablecoins are a type of cryptocurrency designed to minimize price volatility by pegging their value to a relatively stable asset. In most cases, this asset is a fiat currency (most often the US dollar), less commonly a basket of currencies, commodities, or algorithmic stabilization mechanisms.
It is important to understand that when paying for goods or services, cryptocurrency is not transferred directly to the merchant. This is due both to legal restrictions in many countries and to businesses’ reluctance to accept crypto payments because of high volatility*.
* Volatility is the degree to which an asset’s price fluctuates over a certain period. High volatility means that the value of a cryptocurrency can rise or fall sharply in a short time, creating pricing risks for both sellers and buyers.
At the time of payment, the card automatically converts the crypto asset into fiat currency* at the current market exchange rate. A conversion fee is charged for this operation. As a result, the customer spends cryptocurrency, while the merchant receives payment in conventional money.
* Fiat currency is an official government-issued currency that is not backed by a physical asset (such as gold) and derives its value from trust in the issuing state. Fiat currencies include the US dollar, the euro, and other national currencies.
For a successful payment, the crypto card balance must contain a sufficient amount of digital assets, taking into account the conversion fee, the size of which depends on the specific service.
Advantages and disadvantages of crypto cards
The key advantage of cryptocurrency cards is the ability to quickly pay for goods and services using digital assets without first exchanging them for fiat currency.
Additional benefits often include:
cashback on purchases;
interest accrued on the remaining balance;
the ability to earn passive income from cryptocurrencies.
The main drawback is the high volatility of cryptocurrencies (with the exception of stablecoins). The card balance can change significantly over a short period, especially during times of market instability.
Users may also face restrictions imposed by the legislation of specific countries, ranging from blocking certain transactions to freezing crypto card accounts.
Who already issues crypto cards
Traditional banks are still refraining from issuing crypto cards due to regulatory uncertainty surrounding cryptocurrencies. However, crypto exchanges and specialized services actively offer crypto cards.
ByBit Card
The large crypto exchange ByBit issues its own crypto card with free issuance and maintenance. Users can earn up to 8% per annum on their balance and receive cashback of up to 10%.
The cryptocurrency conversion fee is 0.9% and is added to the trading fee, while cash withdrawals cost 2%. The card supports the following assets:
As of January 2026, only residents of the European Economic Area (all EU countries, as well as Norway, Iceland, and Liechtenstein) and the United Kingdom can apply for a ByBit Card.
Many other crypto exchanges have followed the same path — Gate.io, KuCoin, MEXC, and BingX also offer their own crypto cards.
Crypto.com
The Crypto.com card is available to users from the United States, EEA countries, Canada, and Brazil. Both physical and virtual cards are available. The issuance cost ranges from USD 5 to USD 25.
Monthly maintenance fees vary from EUR 0 to EUR 24.99. Free cash withdrawals are available within limits of EUR 200–1,000, and cashback can reach up to 8%. Fee conditions depend on the user’s jurisdiction. All cryptocurrencies supported by the Crypto.com platform can be used for payments.
Wirex Card
Wirex Card offers cashback of up to 8% and up to 16% annual interest on stablecoins held on the account. Cash withdrawals of up to EUR 200 per month are free; after that, a 2% fee applies.
The card is issued free of charge and does not require payment for maintenance or currency exchange. Wirex Card is available in a number of EEA countries, the United Kingdom, Switzerland, and Taiwan.
Ledger
The manufacturer of hardware wallets* Ledger also offers its own crypto card. Maintenance is free, and users can access crypto-backed loan features.
* A hardware wallet is a physical device designed for the secure storage of cryptocurrencies, protecting private keys from hacking and unauthorized access. Such devices are typically compact electronic gadgets—USB drives, small key fobs, or mini devices with screens and buttons. Hardware wallets connect to a computer or smartphone via USB or Bluetooth, or operate autonomously, while private keys never leave the device. Transaction signing occurs inside the wallet, significantly reducing the risk of fund theft due to malware, phishing, or operating system compromises.
The card is available in EEA countries, the United Kingdom, Switzerland, Brazil, Mexico, Canada, and Colombia. The issuance cost is EUR 10. Users receive cashback of 1–2% depending on the selected cryptocurrency and can use the card in conjunction with a Ledger hardware wallet. All assets available in the Ledger Live application are supported.