Crypto debit cards enable users to spend cryptocurrencies directly, merging the convenience of traditional finance with the crypto world. These cards function like regular debit cards but automatically convert crypto from linked wallets into fiat currency during transactions. Issued by crypto platforms in collaboration with major payment networks such as Visa and Mastercard, they allow for both online and offline spending at millions of merchants globally. Benefits include cash back rewards and usage at crypto ATMs, while security features like two-factor authentication help protect against risks. However, they incur fees for maintenance and withdrawals, and using them constitutes a taxable event as cryptocurrency is converted into fiat. As cryptocurrencies become more integrated into mainstream finance, crypto debit cards are set to enhance their usability and acceptance, offering innovative features like staking options and potential rewards.

Source 🔗