Did you know that as of June 2020, there were more than 5,500 cryptocurrencies? Or that crypto market value will reach $1,758.0 million by 2027? That represents quite an increase from the highest crypto global market cap estimate of $800 billion in 2018.
No wonder the cryptocurrency card market also continues to blossom. What do you need to know before delving into card ownership? First, understand that there are a vast array of cryptocurrency card options on the market.
Second, keep it simple by comparing some of the most popular cards. For example, there's been a lot of buzz about the Nexo and CRO Visa cards lately. But how do they compare?
Here's what you need to know about each card so that you can find the best one for your needs.
The Nexo Card
A blockchain-based overdraft system, users to make instant crypto loans. It holds the distinction of being the only crypto card you can spend the value of without needing to sell it. Accepted by more than 40 million merchants worldwide, it offers instant cashback on all purchases.
It also comes with flexible repayment options, and you can make these payments in local currencies. Additional virtual cards are free, and there are no monthly or annual fees. You'll also appreciate the fact there are no fees on international transactions.
Applying for the card proves a breeze. Order it through Nexo's mobile app. Then, manage your transactions from the comfort of your Nexo Wallet app.
You'll gain instant access worldwide to your credit line. You'll also get a variety of functions, including the ability to freeze and unfreeze your Nexo card. You'll receive instant notifications for all transactions, too.
The ability to monitor your transactions in real-time remains a vital aspect of maintaining your online safety. It'll give you peace of mind.
Last but not least, Nexo Card comes with 2% cash back on all purchases.
Want to learn more about Nexo? Check out Nexo Review: The Good, Bad and Whether it's Safe.
The CRO Visa Card
Crypto.com's CRO Visa card has made waves with its ease of use. That said, it comes with high fees, particularly on international transactions.
In terms of features people love about the CRO Visa card, they include its $50 referral scheme, which puts extra tokens in your wallet. You'll also appreciate the attractive, shiny metallic credit card, accompanied by higher-level benefits as you stake more CRO.
The CRO Visa card is perfect for individuals who are very familiar with how crypto works. If you're a significant player, you won't mind staking 500 CRO ($2,000).
When it comes to freebies and promos, Nexo Card beat, but you'll need to be prepared to commit in the form of staking.
Compare with the best crypto debit card alternatives
| Provider | Processor | Rewards | |
|---|---|---|---|
| Coinbase | Visa | Up to 4% XLM, 1% BTC | → |
| Crypto.com | Visa | 1–5% CRO, free Spotify & Netflix | → |
| Wirex | Visa / Mastercard | 0.5%–1.5% BTC | → |
| Binance | Visa | Up to 8% BNB | → |
| Uphold | Mastercard | 2% crypto, 1% cash | → |
The Best Cryptocurrency Card
What's the best cryptocurrency card for you? Nexo and Crypto.com both come with compelling reasons to use their cards. That said, Crypto.com's card remains better for more experienced crypto users.
For newbies, we suggest the Nexo card. It makes investing small amounts easy. The platform proves simple-to-use, and you'll see decent rewards. If you want to see greater yields, invest more NEXO tokens.
When it comes to referrals, you'll get more from Crypto.com. Nexo's referral program monitors deposits and uses complex calculations to provide extra NEXO during the dividend payouts. But only Crypto.com offers the $50 referral.
Ready to find out more about cryptocurrency and how to make it work for you? Browse our blog now for the latest information.