Table of Contents
- How Does a Bitcoin Cash Card Work?
- How to Make a Deposit Using Debit Cards
- How to Withdraw From a Casino Using Debit Cards
- Benefits of Owning a Bitcoin Debit Card for Online Gambling
- How to Get a Bitcoin Debit Card?
- List of Crypto Debit Cards
- Advantages of Using Crypto Debit Cards
- Disadvantages of Using Crypto Debit Cards
- Bitcoin Debit Card Summary
How Does a Bitcoin Cash Card Work?
Banks aren’t the only legal entities that issue debit cards. Many e-wallets like Paypal, ecoPayz, and Skrill can also have a deal with one of the credit card companies in order to bridge a gap between e-wallets and the real world. This way, instead of logging into your e-wallet each time you want to transfer money, a debit card might speed things up.
Bitcoin debit cards work the same way.
Under normal circumstances, in order to turn crypto funds into fiat funds you can use in the real world you would have to do the following:
- Select a cryptocurrency you want to convert into fiat currency.
- Convert that cryptocurrency using our wallet’s exchange rate.
- Request a withdrawal for newly converted currency.
- Wait until the withdrawal request is finished.
- Finally, use the fiat currency through our bank debit/credit card.
The process is the same with any Bitcoin Debit Card.
How to Make a Deposit Using Debit Cards
Debit cards allow for simple deposits at online casinos and usually take a few minutes to complete. Some casinos grant welcome bonuses to new players when making their first deposits. Here is what you need to do to deposit at an online casino using your crypto debit card:
1. Register At A Top Online Casino For Free
Make sure to provide correct information that matches the details on the card. This way you will be able to easily make deposits and you will have an easier time withdrawing the winnings.
2. Go To The Cashier Section
Once you are signed in, a large button for making deposits should be visible on the website. Click on it to open the cashier section which lists all the accepted banking methods.
3. Select Your Preferred Debit Card
Almost all online casinos accept deposits by Visa and MasterCard debit cards, and crypto casinos are not exempt. Pick a debit card that’s most suitable for you and continue to the last step.
4. Enter The Deposit Amount And Confirm
Most top casinos require a minimum deposit of $10 without any fees. You will get a code by text or email to confirm the payment. Once this is complete, you’re all set and good to go!
How to Withdraw From a Casino Using Debit Cards
The withdrawal process is no different than making a deposit. Customers can cash out their real money balance once the account is verified and the needed documents have been submitted and approved by the security team. After accumulating some nice prizes, this is how you can withdraw the winnings and have the funds on your debit card in just a few days:
1. Go to withdrawals in the cashier
Navigate to the withdrawal page on the cashier of the online casino. You can locate it from the menu in the account or from the gaming dashboard provided.
2. Select the debit card for cashing out
If you used your debit card to deposit, it will most likely already be available in the cashier section. Make sure the details are correct and that they match the account information.
3. Choose how much to withdraw
For most casinos, the minimum withdrawal limit is $20. As for the maximum limit, it depends on various factors, such as the operator or the loyalty tier. Debit card casino withdrawals can sometimes go up to $100,000.
4. Check for fees and processing speed
Processing fees are usually covered, although some sites impose a withdrawal tax upon cashing out. The processing period of regular cards is of 24 hours, whereas crypto debit cards take around 2-3 hours.
Benefits of Owning a Bitcoin Debit Card for Online Gambling
The main benefit of having a Bitcoin debit card for online gambling is that you get access to more online casinos (crypto or fiat). If you are a player who prefers using cryptocurrency, a Bitcoin debit card provides access to fiat-only casinos, too, as long as they accept the credit card you own.
Another benefit is that it’s not directly tied to any bank even though debit cards are often associated with them.
Perfect pair with online gambling
Debit card providers are a convenient way to supplement your crypto gambling. Not only will you be able to cash out your winnings, but there is no need for transferring funds to a traditional bank throughout the process. Simply top up your Bitcoin card directly from your personal crypto wallet and you’re good to go.
Foreign currency conversion fee
Traveling internationally can pose numerous risks in terms of conversion fees, and yet most Bitcoin cards hold better fees than a traditional currency exchange. Since cryptocurrencies are universal, the rates will be relatively the same no matter the country. There are only a few regulated areas that will prohibit you from using crypto debit cards.
There are plenty of fintech companies that issue Bitcoin debit cards. Signing up takes a few minutes with no limitations imposed. Any service that accepts Visa debit cards is no stranger to crypto cards – and online casinos are no exception. This mitigates various problems when searching for the best Bitcoin debit card for you.
Spend cryptos like traditional currencies
The mass adoption of cryptos has flipped the script in terms of depositing and withdrawing money online. Bitcoin cards now offer users a way to utilize their crypto funds in the real world, too – a small yet crucial step for the way we make payments.
How to Get a Bitcoin Debit Card?
Some, but not all, crypto wallets offer their users debit cards. This option is usually part of Additional services or Extra features because not all crypto users have a need for a Bitcoin debit card. If your wallet does offer a Bitcoin debit card, the process of getting one shouldn’t be too difficult (but it might take some time).
You can usually apply for a virtual card, a plastic card, or both. Down below we’ve listed what each of the two cards does and how to get them.
Virtual Crypto Debit Cards
The easier of the two. You can usually apply for a virtual card directly from your crypto wallet and you should only need to wait a few days before you get access to it.
To apply for a virtual card, you usually won’t need to submit any additional KYC. You may have to pay a small fee (and maybe pay an annual fee) for the virtual credit card.
The virtual credit card gets saved to your phone and when you need to use it, you simply open your crypto wallet and access it. Afterward, it acts like any other virtual debit card. Simply place it near a card payment device, enter your pin and you should be good to go.
Plastic Crypto Debit Cards
If you want to carry around an actual plastic crypto debit card, you’ll need to do a few extra steps as opposed to the virtual card.
First of all, to apply for a crypto debit card, you need to pay a manufacturing fee and, possibly, a shipping fee since the card needs to be delivered to you. Depending on where you are located, it can take anywhere from a few weeks to a few months for your plastic card to arrive. Once the card arrives, you can use it just like any regular debit card.
List of Crypto Debit Cards
Down below, we’ve compiled a list of some of our favorite crypto wallets that also offer crypto debit cards. Each of these has its own strengths and weaknesses that we are also going to list. More importantly, we’ve tested all of them at both crypto and fiat casinos and they all worked without any problems.
Coinbase is probably one of the most popular crypto wallets in the world. Because of the constant demand for converting crypto into fiat currency, Coinbase offers its own visa card. Using a Coinbase Visa card, users can shop at any place where Visa debit cards are accepted. A Coinbase card is also known to have fairly low conversion and transaction fees and they support multiple currencies.
One of the biggest benefits of having a Coinbase Debit card (and a regular Coinbase account) is that they are widely accepted by many crypto casinos. Many Bitcoin Casinos only accept Coinbase accounts, so getting this card automatically gives you access to many crypto casinos as well.
Binance has become a very convenient all-in-one solution for all crypto transactions. A Binance crypto-wallet offers many benefits like cashback and automatic trading. Users in Europe can also create their own Binance Visa Card. One of the best benefits of a Binance Visa Card is that it offers cashback rewards of up to 8% (provided users use Binance coins for transactions).
A lot of crypto casinos actually accept Binance coins, so this cashback may actually get you a few extra spins or rolls at the casino.
Wirex was one of the first crypto wallets to offer debit cards to their users. Not only do they still offer this unique feature, but Wirex Crypto Cards support over 150 different cryptocurrencies and also offer cashback rewards. Wirex users also get free ATM withdrawals.
We’ve used a Wirex debit card to make deposits in the past and the casinos treat them just like any other Visa card.
Crypto.com was also one of the first crypto wallets to pioneer the use of crypto credit cards. A crypto.com Visa card support over 80 different cryptocurrencies. Crypto.com also offer a 5% cashback but only to users who use their own official crypto tokens. Again, this cashback may just come in handy when you need a few extra spins.
Many of the crypto debit cards we listed here cannot be shipped to a lot of countries around the world. Fortunately, for US citizens, the BitPay prepaid Mastercard can be shipped to any of the 50 US states.
Users have to contend with a 2,50% transaction fee when using ATMs and it doesn’t support that many cryptocurrencies but BitPay is still the most preferred crypto physical card in the USA. BitPay Virtual Mastercard also works well with US-fiat casinos.
BlockCard is an overall great Virtual card that meets all the requirements of what a crypto debit card should be. Even though it’s only available in the USA, this prepaid debit card holds both crypto and fiat currencies, it can be used for withdrawing at ATMs, it has relatively low fees and it even offers cashback rewards for users who own Ternio tokens.
Overall, a great solution for anyone in need of a crypto debit card and a way to play in the US and other online casinos.
The Nexo Card is known to encourage users to HODL their crypto, rather than sell it. With Nexo’s crypto-backed credit lines, purchases are deducted automatically from your Available Credit, and you can use your digital assets as collateral for loans.
Both single assets or multiple cryptocurrencies and stablecoins can be used as collateral which enables you to spend up to 90% of the value of your crypto through the Nexo Card. Just be careful not to rely on gambling as your only source of income when talking with their support.
Anyone who is looking for a card that has no annual fees, no reward caps, and no foreign transaction fees can rest easy with BlockFi. This is one of the first cryptocurrency rewards credit cards to hit the market.
It earns 0.25% back in crypto on all eligible trades, and 1.5% back in crypto for every purchase with the possibility to earn 2% back in crypto after $30,000 of annual spending.
Advantages of Using Crypto Debit Cards
Now that we’ve covered how the whole process works, it’s time to talk about all the advantages that a crypto credit card can bring.
Disadvantages of Using Crypto Debit Cards
Unfortunately, a crypto debit card is not without its shortcomings:
- Like with all crypto transactions, you have the same disadvantages even though you have a debit card. You still won’t be able to request a chargeback or nullify transactions because you are still dealing with cryptocurrencies.
- Crypto wallets can have their own conversion fees and transaction fees which can be pretty expensive when it all adds up. In addition, there can also be annual card fees that you have to deal with.
- There is no decentralization. In other words, if you want to use one of the best crypto debit cards, you will have to trust the service provider and Mastercard/VISA.
Bitcoin Debit Card Summary
For people who enjoy visiting crypto casinos and want to extend to more traditional fiat online casinos, a Bitcoin Debit Card may be a great payment method solution. Not only do you get access to all fiat casinos but you can also get many of the benefits that come with crypto payment methods like transaction speed, lower fees, and anonymity.
If any of these features sound interesting to you then a Bitcoin Debit Card might just be a great addition to your crypto wallet!