If you're looking to buy or sell cryptocurrency using an ATM, you'll want to consider the various card options available.
There are several types of cards to choose from, including Visa and Mastercard options.
These cards allow you to purchase or sell cryptocurrency at a physical ATM location.
Some cards, like the BitPay Card, can be linked to your existing bank account, making it easy to transfer funds.
The BitPay Card also offers rewards and cashback on certain purchases.
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What is a Crypto ATM Card?
A Crypto ATM Card is essentially a debit card that allows users to buy, sell, and manage cryptocurrencies like Bitcoin and Ethereum at ATMs.
These cards are linked to a digital wallet and can be used to withdraw cash or purchase cryptocurrencies at ATMs worldwide.
Crypto ATM Cards often come with a prepaid balance that can be loaded with funds or cryptocurrencies, which can then be used to make transactions.
They usually have a daily or weekly spending limit to prevent excessive transactions and ensure the user's security.
Benefits and Features
With a crypto ATM card, you can start spending your cryptocurrency right away. You can activate your virtual card with just a tap and begin making purchases without waiting for delivery times.
One of the main benefits of crypto debit cards is that they allow you to use your cryptocurrency for everyday purchases. This is especially convenient for those who want to use their crypto for daily expenses.
Here are some of the key features and benefits of crypto debit cards:
- Allows you to use crypto for everyday purchases.
- Provides the option of earning lucrative rewards via cashback.
- Helps to avoid currency exchange fees when traveling.
- Increased asset liquidity.
- Usually can be acquired for free.
Fees and Costs
Crypto ATMs can charge high fees, with some charging more than 10% per transaction. Transaction fees can be as high as 20% (or more), depending on the ATM and the transaction being processed.
Fees vary by ATM and can be as low as 2% to 4%, but most are much higher. On average, crypto ATM fees are around 15% per transaction.
If you're looking for a more affordable option, consider using a traditional cryptocurrency exchange, which typically charges between 1% to 4% in fees.
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Fees and Costs - "Disadvantages of a
Crypto debit cards come with high fees, with some charging more than 10% per transaction, making them more expensive than traditional cryptocurrency exchanges, which charge between 1% to 4%.
Crypto ATMs charge high fees, with some charging more than 10% per transaction, and transaction fees can be as high as 20% or more, depending on the ATM and the transaction being processed.
Bitcoin ATMs can charge fees as high as 21.90% of the total transaction amount, with some operators charging between 4.99% and 21.90%.
A record of the bitcoin will appear in the customer's wallet after the purchase, though this may take several minutes for the blockchain to process.
Crypto debit cards also come with foreign transaction fees, which depend on the day of the week of the transaction.
The fees for using a Bitcoin ATM can be very high, and the exchange rates offered may not be as competitive as could be found elsewhere.
Coinbase: No Fees
The Coinbase Card is a great option for those looking to spend their cryptocurrency without incurring fees. With no transaction, annual, or ATM withdrawal fees, you can use it anywhere Visa is accepted.
You can earn up to 4% cashback in the form of cryptocurrency on every purchase, although the rewards and earning rates change every month. The rate depends on the type of crypto rewards you choose.
The Coinbase Card offers strong security measures, including two-factor authentication and biometric verification, to ensure that only you can access your funds. Your funds are kept in secure cold storage, just like Coinbase's exchange.
Here are some countries where you can apply for the Coinbase Card: US, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the UK.
You can easily convert your digital assets into fiat currency with the Coinbase Card, and manage your crypto funds in one place through the Coinbase app.
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Popular Options
Nuri offers a low-cost option with great ATM withdrawal limits for Europeans, allowing you to withdraw up to €1,500 per day for free.
Some crypto ATM cards also offer the option to top up your card in BTC or Euro, making it a convenient choice for those with digital wallets.
Unfortunately, Nuri has no cashback program, so you won't earn rewards on your purchases.
CEX.IO - 200+ Supported Currencies
CEX.IO is a popular option for trading and storing a wide range of cryptocurrencies. In fact, it supports over 200 different currencies, making it a one-stop-shop for all your crypto needs.
If you're looking for a reliable and secure way to buy and sell cryptocurrencies, CEX.IO is definitely worth considering.
Wirex
The Wirex Card is a great option for those looking to easily spend their crypto and manage their finances all in one place. It's a digital payment platform that offers a debit card that can be funded using both traditional currencies and cryptocurrencies.
You can spend your crypto just like you would with a traditional debit card, and the card allows you to withdraw cash from ATMs and make contactless payments. It's available in multiple languages, making it a great option for global users.
The Wirex card is free, with no annual or FX fees, and you can manage your account and track your spending through the mobile app or website. The app also enables instant in-app alerts for your card security.
One of the biggest advantages of the Wirex card is its rewards program, which offers up to 8% cashback in WXT, the platform's native token. This cashback is instantly deposited into your Wirex account.
Here are the key features of the Wirex Card:
- Up to 8% cashback in WXT
- Fee-free ATM withdrawals (up to $200)
- No annual or FX fees
- Exclusive offers for card holders
To get a Wirex Card, you'll need to go through a few KYC processes, including identity verification with a valid National ID or Passport.
Availability
Crypto ATMs are limited in their number and locations, and they may require traveling a long distance to access.
You can find thousands of crypto ATMs throughout the U.S. and the rest of the world, but their availability can vary greatly depending on where you live.
Some crypto ATMs will let you withdraw cash at a cryptocurrency's current market price, but this often requires a Know Your Customer (KYC) photo ID verification.
This process can be a bit of a hassle, but it's a necessary step to ensure the security of your transactions.
Ranking Options
Crypto ATM cards offer several ranking options to suit different user needs.
The most popular ranking options are based on fees, which can range from 4% to 15% of the withdrawal amount, depending on the ATM network and location.
Some users prefer to rank options based on withdrawal limits, which can vary from $200 to $10,000 per transaction, depending on the card issuer and user verification level.
Card issuers often prioritize users with higher balances and more frequent transactions, offering them better exchange rates and lower fees.
In some cases, users can also rank options based on the speed of transactions, which can take anywhere from a few minutes to several hours, depending on the ATM network and user verification process.
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Getting Started
Getting started with your crypto ATM card is easier than you think. You can activate it almost instantly through the Nexo app.
To begin, open the Nexo app and tap on the 'Card' section. This is where you'll find the 'Activate Nexo Card' button, which will issue your virtual card.
You can add your virtual card to Apple Pay or Google Pay, making it ready for your first transaction. Alternatively, you can use your card details to make purchases.
To see your card number, expiration date, and CVV/CVC, go to the Card section and tap on ‘Card details’. This will reveal the necessary information.
You can also manage your card from within the Nexo app, including freezing or unfreezing it, revealing or changing its PIN, and tracking your monthly transaction limits.
How to Activate
Activating your Nexo Card is a breeze. You can do it instantly through the Nexo app.
To activate your virtual card, open the Nexo app and tap on the 'Card' section. Then, tap on the 'Activate Nexo Card' button to issue your virtual card. You can also add the card to Apple Pay or Google Pay for easy transactions.
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Adding your card to a mobile payment platform is a great way to make purchases on the go. To do this, follow the prompts in the Nexo app.
If you prefer to use your card details directly, you can find them in the 'Card details' section of the app. Your card number, expiration date, and CVV/CVC are all available here.
Remember, you can always freeze or unfreeze your card, reveal or change its PIN, view your transaction history, and more from the 'Card' section of the app.
Here are the steps to activate your physical card:
1. Open the Nexo app and go to the ‘Card’ tab.
2. Swipe left and tap on the ‘Order Nexo Card’ button.
3. Follow the on-screen instructions and wait 2 to 4 weeks for your card to arrive.
4. Once you receive your card, activate it by opening the Nexo app, and entering your 16-digit card number.
That's it! Your Nexo Card is now ready to use.
Who Can Order a Nexo?
To order a Nexo Card, you need to be a resident of the European Economic Area (EEA) or the UK. Currently, only these regions are eligible for a Nexo Card.
To be eligible, you'll need to complete identity verification. This is a straightforward process, but it's an important step to ensure the security of your account.
Frequently Asked Questions
Can you use crypto card at ATM?
Yes, you can use a crypto debit card at millions of ATMs worldwide. Just like a regular Visa or Mastercard, it's accepted at most ATMs for cash withdrawals.
Do crypto ATMs require ID?
Yes, Bitcoin ATMs require some form of identity verification for transactions, with more detailed checks for larger transactions. This may involve a phone number, government-issued ID, or SSN, depending on the transaction amount.
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