You know that today’s world tends to be digital, and people are now more intelligent and want everything fast at a reasonable price. Now eCommerce startups are changing the world, which means you can order any product and get it within a few hours. Still, the bitcoin coin or cryptocurrency more influences this digital world with anonymous and without third-party involvement transactions that save the cost of transactions.
Many sellers or eCommerce stores accept local digital payment via banking applications, traditional debit cards, and third-party payment gateways. Still, many eCommerce stores or vendors are not accepting crypto or bitcoin payments because they doubt this currency. So what about those who have bitcoin or other crypto coins and are not getting an option to hold them. Thanks to the bitcoin debit cards helping the bitcoin or crypto users spend their bitcoins for online shopping or any other transactions because the receiver will get the payments in local currency. So let’s dive deep into this blog to understand the concept of the bitcoin debit cards and their cashback offers and also check the more in- depth knowledge on the app bitcoin circuit.
Bitcoin debit card in Brief
Bitcoin debit cards are similar to the ordinary debit cards we issue from the banks and use daily. Still, the difference is that it converts your bitcoins or crypto coins into the local currency so the receiver can comfortably receive the money. Your bitcoin debit card provider will help you convert the coins into real cash and charge some fees for it, and the primary benefit is that you will also get the cashback rewards. You have to connect your debit card with your bitcoin wallet and give the card issuer permission to modify your crypto balance.
Do bitcoin debit cards offer cashback?
Why should you go with the bitcoin debit cards if you already have a local or traditional debit card and use it for spending money? There may be only two reasons for choosing the bitcoin debit card over your ordinary debit card that is given below:-
- The first reason is that you have bitcoin in your account, but the vendors in your area are not accepting it because they are unfamiliar with cryptocurrency. You want to spend your cryptocurrency on shopping.
- The second reason is that the bitcoin debit card is proving to have a higher value than the standard debit card used for daily transactions because people love to choose the things that provide more and more value.
The first reason is apparent: only bitcoin or crypto users will love to buy the bitcoin debit card, and people who are not using bitcoin will not go with a debit card. And the second reason will influence them to order or issue the bitcoin debit card because it provides more value than an ordinary debit card which is cashback. Yes, you read it right; not only do bitcoin credit cards offer cash back, buy bitcoin debit cards also offer cash back.
Some bitcoin debit card providers, such as crypto.com, Wirex Visa card, Crypterium visa card, etc., provide cash and many offers and rewards to their users. The crypto card provides one to eight per cent of reward to their bitcoin debit card users who spend money through the card daily. There are different tiers, and when the users go up and up on different tiers, they will start getting higher cash back percentages, but the initial or lowest cashback is up to one per cent. When the users get on the higher tier, they will also get free amazon prime, Netflix, and Spotify membership.
Always remember before ordering the bitcoin debit card
Now you know about the cashback or rewards that different card issuers proving to their users but always keep these things in mind before going ahead given below:-
- Always check the annual maintenance fees of different cards to choose the best one for you. If you do not research, you must pay more than your earned rewards.
- Transactional charges or fees may be hidden or shown because you can easily calculate the return on your spending; otherwise, it would be best to use a simple or ordinary debit card with very few fees.
- Always check or compare the different cashback or reward rates of different cards to get most of your spending through the card.
- Check the reviews or video testimonials or read articles and blogs before being aware of the pros and cons.