Crypto Credit vs Debit Cards [Crypto.com, Binance, Coinbase, BlockFi, Wirex, Nuri, Monolith]

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00:00Welcome back to Decentralized News. In today's video we are talking about the all interesting

00:04subject of crypto credit and debit cards and just trying to do a bit of a comparison there to see

00:12what is most viable. So we're going to jump right into this but before we do that make sure you give

00:19us a like and a share and a subscribe and also don't forget to check out the links in the

00:24description. We truly appreciate it and we should probably start with defining what a crypto credit

00:31card does. In fact with crypto credit cards you can easily borrow money from the card company just

00:37like you would with a regular credit card and it is still a credit card at the end of the day.

00:42The difference there is with regular credit cards and crypto credit cards you do get crypto rewards

00:49back with your purchases on those cards. So that's the main sort of advantage of crypto rewards and

00:59pretty much in principle there is no difference between a crypto card or crypto credit card and a

01:05regular credit card except for that part of getting these cash back rewards in crypto. So the debit cards

01:14are essentially the same as normal rewards credit cards. They do accumulate some crypto cash back on

01:23your spending and instead of accumulating points with a regular debit card which you may not be able

01:31to convert into cash you can actually accumulate cryptocurrencies with a credit card and with the

01:36debit card and you're able to then sell those off and use them as real currency. So the crypto credit cards

01:45versus crypto debit cards the big difference there is obviously your credit line with the crypto credit

01:52cards. So the size of your credit line will depend on the eligibility criteria that is sort of said by the

02:00issuing institution. Another big difference as well to note is the fact that with some crypto debit cards

02:07that come off with a proof of stake obligation this is something that can confuse some newcomers.

02:13Basically it means that the card will require you to put down some cryptocurrencies in terms of like

02:19staking them in order for you to get the card and to get the rewards. So this also depends on the issuing

02:25company. The more crypto you might have stacked on that card then potentially the higher the rewards

02:32as well. So on the other hand your credit history itself doesn't actually get checked out for crypto

02:39debit cards. So your crypto debit cards are offered to pretty much anyone while crypto credit cards are

02:46not. Moreover both cards allow ATM withdrawals and are usually accepted worldwide and should you be

02:55looking to get a crypto credit card or debit card? That is a question. So whether you go for either one of

03:00these depends on your spending habits essentially and also your credit history. So you should maybe look

03:07at the rewards rates, the annual fees, other fees like ATM withdrawal fees are something to consider.

03:14There are also other benefits or perks that come with the cards. Withdrawal spending limits are something

03:19to look out for and also the staking requirements. So there's no one-size-fits-all type of a solution.

03:25You can also buy your cryptocurrency with your cashback from your regular rewards card and if you don't want

03:31permanent exposure to your crypto that is a good way to do it and that could make sense if the regular

03:38rewards card actually offers a higher percentage of cashback than the crypto cards themselves.

03:43Crypto can be volatile of course so you have to be aware of that so the value of your rewards can go

03:49down with time as well. So the best credit cards or crypto cards to use, crypto.com card is a very

03:56popular one. It's an all-round option available in over 100 countries worldwide and Binance Visa debit cards

04:03are also very popular. A card that is used across Europe with high pending limits. Coinbase credit card

04:10it's a good card if you're in the US, you know, so you can use that without withdrawal fees. BlockFi

04:17crypto credit card, the rewards card offering BTC cashback. BlockFi is a company that's recently

04:23actually been acquired by FTX. It's been going through some trouble in terms of what's been going on in the

04:29market as far as the liquidity crisis. YRX crypto card is another one, a cashback option for travelers

04:35and Dinuri crypto card N-U-R-I. It's also a high ATM withdrawal fees card for those in the EU and

04:47monolith crypto card which is M-O-N-O-L-I-T-H is also a non-custodial visa for European Ethereum fans.

04:57So let me know what cards you are using if you have a crypto credit card or a debit card. Which

05:04ones do you prefer and which ones do you think are the best? So we did touch on crypto.com card

05:10here, Binance Visa debit card, Coinbase debit card, BlockFi, crypto credit card, YRX which is W-I-R-E-X,

05:19crypto credit card which has a cashback option for travelers, Nuri which is N-U-R-I,

05:26crypto credit card and Monolith, M-O-N-O-L-I-T-H, crypto debit card. Let me know what other cards

05:36we should have included in this list. Also check out the links in the description, particularly

05:40ones to my books, Tokenized Trillions, Blockchain Applied. If you want to learn more about real world

05:46asset tokenization on the blockchain, don't forget to join our Telegram and our Discord server,

05:52like, share, subscribe, turn on the notification bell. I will see you in the next video. Peace.

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