Best Crypto Debit Cards with Cashback (2023)
What are the best crypto debit cards? Recently, the space has been blooming with several new options out there.
WHO IS THIS POST FOR? I’m just a simple guy that wants to save a bit of money without too many complications. I’m not a crypto fan or trying to get rich quickly with cryptocurrencies, or anything like that.
If you are like me, and just want a simple way to get free Netflix, Spotify, or some money back without thinking too much, this post is for you.
I have been using the Crypto.com Visa card for a long time to get free Spotify and Netflix, but now they stopped that benefit! As I was looking for an alternative, I compiled this post with my top choices for crypto debit cards and crypto credit cards that come up as solid for 2023.
What is a Crypto Debit Card?
A crypto debit card works just like a regular debit card, but it allows you to use cryptocurrencies to make retail purchases, and also earn free cryptocurrencies as rewards (also called crypto rewards) when you make purchases and pay with the card. They are issued by large cryptocurrency exchanges in partnership with giants such as Visa and Mastercard.
Starting in 2021, there has been a boom in crypto cards (both debit and even credit), and several new players came to the game such as the Plutus card, Nexo, and others.
How do I get free crypto rewards?
The philosophy before 2021 has been “use your money to buy crypto and wait for it to go up in value”. However, recently most companies are pushing towards a new paradigm: don’t invest in crypto directly, use the money to buy things and earn crypto meanwhile. This is where the crypto cards come in.
When you get a crypto debit card, you can top it up with money from your bank account, and then use that card to pay in shops (supermarkets, restaurants, etc.). Each time you make a payment you will receive a certain amount in “cashback” (crypto reward) that you can either save or later use to purchase more stuff.
Crypto cards shift the paradigm!
Instead of buying cryptocurrency with your money, get a crypto debit card and use it to pay for your everyday shopping. You will earn crypto for free, which you can later use to buy more stuff.
What are the Best Crypto Debit Cards of 2023?
1. Plutus Card
Short story: The Plutus card is the best alternative to the Crypto.com visa card to get free Spotify, Netflix, or other subscriptions (up to 1). You can also get 3% cashback on your purchases. It’s a no-brainer, as you can get up to €17 back per month FOR FREE, just by using the card. In addition, you get €10 for each friend you refer to Plutus.
Pros:
- The FREE version can give you up to €17 back per month just by using the card
- 1 free perk per month (Spotify, Netflix, Apple One, Curve, Amazon Prime, and 15+ more).
- Subscriptions that give you even more Plutus Perks! Up to 3 Perks for €14.99 (worth €30)
- Stake PLU to get even more perks and better cashback (up to 8 Perks and 8% cashback)
- Non-custodial wallet
- Referral program: refer your friends and get €10
Cons:
- Staking options are expensive (the minimum to stake today is €1900)
- Not valid outside the EU and UK
- Rewards are only in PLU (no Bitcoin or ETH)
- No native Apple Pay (but you can use Curve to enable it)
Why I’m using this card?
I was using the Crypto.com Visa card in the beginning, which was great. However, recently they announced that they will stop reimbursing Spotify and Netflix in 2023 (and will only be reimbursed for the first 6 months for new customers). They also increased fees. Result: I stopped using it
I wanted an alternative and I found Plutus. Plutus is not the main card I use for everyday spending (I use a credit card). However, I use it just enough to get the free perk (free Spotify), and you could do the same. You can also use it for purchases abroad in the European zone.
IMHO, the Plutus card is my top choice right now and will most likely remain one of the best crypto debit cards of 2023. The free version can take you a long way, giving you up to €17 back per month.
2. Nexo Card
Short story: the Nexo card is great for people in the US (as other cards only work in the EU). It gives you 2% cashback in NEXO token or 0.5% in Bitcoin. Works with Apple Pay, and you can even open a credit line against your collateral a 0% interest!
Pros:
- Rewards are not only in NEXO, you can also get cashback in Bitcoin
- 2% cashback in NEXO, and 0.5% cashback in BTC
- Credit line rates starting from 0% interest
- Apple & Google Pay integration
- Get €20 after depositing your first €100 using my link.
- Referral program: Get $25 for each friend you refer (after they spend $100)
Cons:
- No free benefits such as Spotify, Netflix, etc. You really need to spend with the card to get a benefit.
- Credit line is against your crypto assets as collateral. You need to have crypto to be able to ask for credit.
The Nexo card brings an interesting concept. It also lets you borrow money against your crypto asset, and repay it at a 0% interest rate! Thus, it works like a crypto credit card, with no interest. The Nexo card can be a great tool to beat inflation if you split payments into several months, without interest.
The only drawback is that the credit line you open is against your crypto assets as collateral: you need to already have crypto to be able to ask for a credit line. Your crypto will be “frozen” until you repay.
Being also available in the US, the Nexo card is a very attractive option and definitely one of the best crypto debit cards for 2023.
3. Crypto.com Visa Card
I’ve covered this card many, many, many times in the blog. I’ve used it a lot and had a really nice time with it. Very rewarding.
I basically stopped using it because of two reasons: it became more expensive, plus, they removed a lot of the benefits, which makes it not attractive to me anymore (increased fees, and stopped free Spotify and Netflix). I instead switch to the Plutus card, which is very cheap and still gives you a lot.
That said, the Crypto.com Visa card is still a very solid product. The card looks great, the app is smooth, and they have a huge ecosystem around for crypto lovers (not an “everyday” user). You can still get $25 for free and 2% cashback in CRO.
Pros:
- 2% and 3% cashback (in reasonable tiers). Up to 8% cashback if you “invest” (stake) more.
- Get $25 when you sign up and stake CRO.
- Works in the US, EU, UK
- Free Spotify or Netflix for the first 6 months (new customers)
- Metal debit card (which looks great)
- Referral program: Invite friends and get $25
- Great ecosystem: exchange, DeFi wallet, NFTs, etc.
- Crypto.com University: Learn and earn
Cons:
- Cashback only in CRO token
- No Apple Pay in Europe (but you can use Curve)
- Staking is expensive (Minimum €350 or $400 USD for 6 months to get free Netflix or Spotify)
- Free Spotify and Netflix benefit only for 6 months, unless you go for a more expensive tier.
The Crypto.com card is far from the best entry-level debit card. If you are starting out and you just want to get something back, this card is not the right fit. Go instead for Plutus or Nexo.
That said, the Crypto.com visa card is still a quite solid option because of its ecosystem, and remains one of the best crypto debit cards for 2023. They have invested a crazy amount of money in marketing (e.g. buying the Crypto.com arena, ex Staples Center), and they were the first ever company to launch a Visa debit card that let you use your crypto for retail purchases.
Best Crypto Debit Cards in 2023: Conclusion
There are several players in the game right now, and it is hard to decide on the best crypto debit cards. The recent boom of crypto cards is making it increasingly difficult to select which card to hold in the wallet.
If you need an entry-level card just to get started and obtain some free benefits, then go for Plutus or Nexo. If you are more serious about the crypto game and you want to get more involved, use an exchange, DeFi, and are looking for a better ecosystem, then chose a card like the Crypto.com Visa card (although the rewards are not as good as before).
If you have any further questions or wish to brainstorm or chat, feel free to reach out to me anytime on Instagram!
Enjoy!
