The world is going digital in all ways, including how we spend our money. Cryptocurrency has been one of the most significant developments in the payment sectors. It is evolving quite fast, and this is part of the reason you must keep track of all the trends if you are interested in the industry.
Over time, payment companies have made crypto cards more available for consumers. These cards can earn you rebates for your everyday spending like traditional credit cards, only that the source of the funds and rewards is a digital currency.
Here is a look at the best crypto credit cards available in Singapore. We have included their reward structure, payment method, pricing and fees, and the exchange option.
1. Crypto.Com Visa Card: Best Overall Crypto Card Singapore
Crypto.com Visa card was among the first crypt cards that fit nicely through your lifestyle. It comes with many rewards that will come in handy for your everyday life.
The Crypto.com Visa card is a prepaid card that uses crypto.com’s digital currency rather than a debit card. It does not have a minimum allotment per month involving free currency exchange transactions, which allows you to make as many transactions as necessary.
Crypto.com Visa card is compatible with at least 90 currencies, making it the most flexible crypto card available. It is available in different card tier, which comes in different colors. You can use the card wherever a Visa card is accepted.
One of the Card benefits is access to the crypto.com app, which helps you easily manage your account on the go. You can also top up your account using a credit or debit card, just like you top up any other mobile wallet. CRO rewards are paid in CRO tokens to your wallet.
It is important to note that purchases made under certain merchant categories are excluded from the CRO rewards program.
Pros
- Charges no fees
- It is compatible with most cryptocurrencies
- Offers popular streaming cashback, free airport lounge access, discounts on Airbnb bookings, and private jet partnership.
Cons
- Limited consumer resources
- Has a complicated platform for new users
- Uses crypto.com tokens and can be converted to various fiat currencies
Annual Fee: $0
Credit: None required
Rewards: CRO
Funding Method: Crypto wallet
Account Minimum: $0 – $400,000
Card Tiers:
- Obsidian card: USD 400,000 worth of the CRO stake
- Rose Gold/Icy White: $40,000 worth of CRO staked
- Royal Indigo or Jade Green: USD 4,000 worth of CRO staked
- Ruby Steel: $400 worth of CRO staked
- Midnight Blue: USD 0 worth of CRO staked
How to Apply
Eligibility
- Have an account with crypto.com
- Have sufficient CRO in your App for the required lock-up period
- Above 18 years old
Here are the steps to follow:
1. Download the Crytpo.com app (it is compatible with Android and iPhone devices only)
2. Complete your KYC
3. Go to your “Card Page,” Located on the bottom right corner of the App
4. Select your preferred card tier and stake the respective CRO equivalent
5. Accept the terms and conditions
6. Have enough CRO in your crypto.com app to a stake in the next 180-day lock-up period
7. Submit and confirm your delivery address.
8. You can change the card tier by topping up your CRO
Link to Website: Go to crypto.com to learn more.
2. Gemini Credit Card: Has the Best Rewards
The Gemini credit card earns rewards compatible with at least 50 different cryptocurrencies. The best part is it offers free currency exchange transactions, but it is essential to remember that no exchange fees are guaranteed.
The card does not charge annual fees but does not also offer a welcome bonus for the users. Gemini card is issued by Webbank and runs on the MasterCard network, allowing its users to access all the sellers that accept MasterCard.
It also comes with a convenient app that helps you manage your account with 24/7 customer support.
Here is the unique reward structure provided by Gemini:
- 1% back on all purchases
- 2% back on groceries
- 3% back on dining
Pros
- Various reward structure
- It can be used anywhere MasterCard is accepted
- Available nationwide
Cons
- Its fees can quickly add up
- No guaranteed free currency exchange transactions
- Has a waitlist
Annual Fee: $0
Credit: Excellent
Rewards: 50+ cryptocurrencies
Funding Method: Crypto wallet
Account Minimum: $0
How to Apply
1. When applying for the Gemini crypto credit card, you must first sign up for the waitlist.
2. When it is your turn, Gemini will let you know.
3. They will send you an email with a personalized link for your application. The link is not to be shared or used by anyone else.
4. After being approved, you will get your card in 5 to 7 business days.
Eligibility
Customers signing up for Gemini cards require to provide their:
- Full legal name
- Address
- Date of birth
- Social security number
- Phone number
- Excellent credit report
Link to the Website: Go to the Gemini website to learn more.
3. Coinbase Visa debit card: Best Security
Coinbase is one of the leading cryptocurrency exchanges that was launched in 2012. It has recently launched the Coinbase Visa card, which works just like any other Visa card but can only be topped up with any financial products from the Coinbase portfolio.
With the Coinbase Visa card, users have the choice of earning a 1% cashback with BTC and a $% cashback with XLM when they make any purchase.
A Coinbase Visa card is accepted globally anywhere that a Visa card is accepted. It has enhanced security features such as two-step verification, or you can freeze your card through their well-designed mobile applications.
On the downside, the card has hefty fees. It does not have an issuance fee, but you will pay for other fees such as cryptocurrency liquidation fee that is nearly 2.5% and the 2% international transaction fee. You will also get a 1 % penalty if you withdraw above your maximum limit.
Pros
- Enhanced security for your card
- It can be used in all Visa card locations
- Has additional bookkeeping features
- Well-designed mobile application
Cons
- Many and high transaction fees
- Users must have a coin base account and have purchase financial products from the platform.
Annual Fee: $0
Credit: Good to excellent
Rewards: 1% BTC or 4% XLM
Funding Method: Crypto wallet
Account Minimum: $0
How to Apply
Eligibility
- Live in the US, excluding Hawaii
- Live in Singapore
- Complete identity with the bank partner and Coinbase during the credit
Steps to Apply
1. Sign up for the Coinbase Visa card through Conbase.com of the Coinbase app
2. Click on the ‘Pay” tab
3. Click on ‘Apply now’ under Coinbase Card the follow all the prompts to sign up
Link to Website: Go to Coinbase.com to learn more
4. Wirex Visa Card: Best for International Use
The Werix Visa card offers global spending power without the high exchange fees. The card is compatible with at least 150 currencies and is accepted in more than 80 million outlets globally. Moreover, the card has free international ATM withdrawals.
The card used staked tokens known as WXT to fund the account and provide the users’ benefits.
Wirex has a new reward system known as Cryptoback, which gives 2% back in WXT rewards for eligible in-store purchases. It also offers a $10 reward in BTC for new users.
The Cryptoback program is a 1-year subscription service where the cardholders earn between 2% and 8% in X-Points for purchases. The X-points can be exchanged for cryptocurrency and are worth a cent each.
Earning 2% back is free while making a 4% cashback will cost you $10 every month on $102 annually. For 8%, cardholders pay $30 every month or $306 annually.
The Wirex card has a transparent fee structure with no annual fees. However, there is a transaction fee of 2.5%, which you can eat through your rewards. An app supports the card to set alerts, maintain your budget and track your spending.
The card also offers a great way to switch currencies while traveling and more streamlined global purchases.
Pros
- Low transaction fees
- Offers Bitcoin rewards
- Offers multiple currencies
Cons
- Has a limited rewards structure
- You must maintain Wirex WXT balance
- Native token-based
Annual Fee: $0
Credit: None required
Rewards: WRX
Funding Method: Crypto wallet
Account Minimum: $0
How to Apply
Eligibility
- Have a Wirex account
- Have a minimum amount of funds in one of your accounts
Steps to Apply
1. Go to the Dashboard on the Wirex web application and click on ‘Order a card.”
2. If you do not have the required balance, you will be asked to top up, and the exact amount will appear on the Dashboard.
3. Please enter your delivery address and confirm it
4. Select your delivery method, which can be either via Singpost or express delivery through DHL
5. Confirm your order
Link to Website: Go to the Wirex website to learn more.
5. BlockFi Rewards Visa Signature card: Best for Bitcoin
The BlockFi Rewards Visa Signature allows cardholders to accumulate the interest base in their Bitcoin holding. It offers a cryptocurrency default reward system and a 1.5% cashback on purchases paid out in Bitcoin and held in your BlockFi account.
The card does not charge any transaction fees, which saves your rewards. It also offers a welcome bonus of 3.5% in Bitcoin for every purchase for the first three months, with a maximum earning of $100 in bitcoin.
The BlockFi card does not have a credit limit and does not have an annual fee with a clear reward structure to help you earn the most that you can. Cardholders appreciate the BlockFi card since it has the perks of a traditional credit card while still offering the modern benefits of cryptocurrency.
Pros
- Rewards distributed in Bitcoin
- Offers Visa Signature benefits
- Offers multiple bonus rewards
Cons
- There is a waiting period for some rewards
- The card is limited to Bitcoin
Annual Fee: $0
Credit: Good to Excellent
Rewards: BTC
Funding Method: Bank account
Account Minimum: $0
How to Apply
Eligibility
You must apply on the waitlist for you to know if you are eligible for the BlockFi Visa card.
Steps to Apply
You will receive a personal link to fill in your application after being approved.
Link to Website:
Go to blockfi.com to learn more.
Factors to Consider When Choosing the Best Cryptocurrency Card
More companies are entering the crypto space and offering cards for day-to-day purchases. Therefore, you must know how to choose one that will work the best for you.
Here are some of the factors that you must consider when choosing the best crypto card:
1. Availability
Some cards are available for immediate use, while others will have to wait through a waitlist.
2. Security
Make sure that the card you choose meets the industry standard of security.
3. Rewards
Before you settle for a crypto card, make sure that their reward system offers lifestyle perks. For example, choose a card that fits your travel lifestyle if you travel a lot.
4. Fees
Transaction fees, annual, exchange, and other costs will eat into your rewards. You must therefore evaluate if the fees will eat into your rewards.
What Are the Alternative Crypto Credit Cards?
If you are looking for alternative crypto credit cards to the ones we have provided above, here are some you can look into:
- Crypterium: prepaid crypto card.
- Nexo: you can borrow up to $2 million in loans, including home loans.
- SoFi: You will earn two points per dollar spent.
- Swipe: offers tons of features with up to 8% back.
- TenX: It features none of the typical fees
Related Questions
Where Can I Use My Crypto Rewards Credit Card?
Most crypto rewards credit cards have partnered with major credit card networks like MasterCard and Visa. This means that you can use your crypto reward card anywhere that Visa or MasterCard is accepted.
Can You Use a Crypto.Com Visa Card in Singapore?
Yes.
As mentioned earlier, it is a crypto-based prepaid card that offers its holders 8% cashback and other lifestyle perks.
Is the Crypto Card Free?
Some companies issue the card for free, while others will need you to have a certain minimum deposit before giving you the card.
What Is the Best Crypto Debit Card?
Crypto.com Visa card.
It is ideal for seasoned investors who prefer the prepaid card are used to the volatility of cryptocurrencies since you will need to stake a CRO of a certain amount for at least 6 months before applying for the card.
You get to save a lot of money per month due to your confidence in the stake CRO. The prepaid card is powered by the Visa company and lets you earn cashback and certain lifestyle perks such as airport lounge access and financial tips once in a while.
Is Crypto.Com Visa Card Available in Singapore?
Yes.
It is available and is regulated by the Monetary Authority of Singapore.
Find out is Bitcoin legal in Singapore?
Closing
Crypto Visa card use will be more common soon since more people are getting accustomed to purchasing services and products used in crypto. However, you will need to know how to choose the best card that fits your lifestyle and needs.
Key Takeaways
- Cryptocurrency visa cards use digital currency to withdraw cash and make purchases in-person and with online retailers.
- You apply for a crypto credit card from crypto exchanges.
- Cryptocurrency credit cards have partnered with major credit card companies such as Visa and MasterCard and merchants for the cashbacks.
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