Spending crypto in the real world can be tricky. Few shops and websites are yet to accept digital currencies for different reasons. Some worry about exchange rates, others don’t understand the technology or think the demand for crypto transactions is too low.

However, new products are emerging that solve these problems. Namely, crypto debit cards. Like a traditional debit or credit card, a crypto credit card allows you to complete everyday transactions using cryptocurrencies like BTC and ETH. Many crypto debit cards have been released in conjunction with Mastercard and Visa, so there’s no need to worry about whether or not the card will be accepted by a retailer.

How do crypto debit cards work?

First, you top up your crypto debit card with your chosen cryptocurrency (typically through a website or mobile app). Then, it’s ready to use. Many crypto debit cards offer higher spending limits and lower transaction fees than conventional cards.

So, you purchase your coffee with your crypto debit card. Then, once the transaction is complete, the card provider will convert the digital currency to fiat currency (so the seller will receive your payment in fiat currencies like USD, GBP, or EUR).

Examples of crypto debit cards

Coinbase: Coinbase's debit card supports 8 different cryptocurrencies, offers 4% rewards, and can be used anywhere Visa is accepted.

Crypto.com: crypto.com's card comes with rewards of up to 8%, supports 22 cryptocurrencies, and is accepted anywhere Visa is accepted.

Binance: the Binance debit card supports 30 cryptocurrencies, and comes with up to 8% cashback on purchases.

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What are the benefits?

But why do you need a crypto debit card if you already have a normal credit or debit card? A crypto debit card comes with some exciting benefits.

With conventional cards, you’ll often end up paying high exchange rates if you travel abroad. A crypto debit card your crypto acts as a bridge between fiat currencies, so you’ll save money.

Traditional cards often also charge a range of charges like membership fees, or fees whenever you complete a transaction. Crypto debit cards are generally a lot less expensive.

You can also use your crypto debit card for ATM withdrawals, and many are compatible with Samsung Pay, Google Pay, and Apple Pay too. Some even offer rewards like cash back and access to airport lounges. And, crypto debit cards can usually be set up without the need for a bank account.

Of course, crypto debit cards are not without downsides. Some providers require users to stake coins in order to access the best rewards. And, there's also the issue of crypto’s volatility.

Some of the biggest crypto exchanges like Coinbase and Binance now offer Visa debit cards. The cards are easy to top up and users aren’t charged extra to move funds from the crypto exchange to a card.

Should you pay for your coffee with BTC?

But before you set up your crypto debit card, consider this: when you spend $4 of BTC on a coffee, are you really just spending $4? $4 of fiat will likely be worth less in a year due to inflation, but $4 of BTC will likely be worth more.

At Cryptonary, we're hesitant to buy such ordinary items with BTC as a $4 coffee is more like a $40 coffee in our minds!

Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.