What is Prepaid Crypto Cards?
Prepaid Crypto Cards are a form of crypto debit card that allows customers to manually pre-load funds, often crypto, onto a virtual or physical card. This card can then be used in the same way as a traditional card, being able to make in-store or online purchases and even make ATM withdrawals.
While different card issuers vary in some details, these cards will often work in one of a few different ways. In one way, users will manually sell off some of their stored crypto which they can load onto the card. Or in some cases, will be able to load crypto directly onto the card, which will then sell off said crypto at the point of purchase.
Some card providers, like Crypto.com, will offer a hybrid of the two, allowing both assets to be preloaded and spent.
Preloaded Crypto Cards
But the primary element of these cards is the preloading of funds. For some users, these cards can be very useful, as they make keeping track of your spending a bit easier, and it also prevents the oversharing of personal information to certain businesses.
Today many prepaid crypto card issuers will offer rewards and incentives for the use of their card, including referral rewards, loyalty systems or cashback.