Australian crypto investors have a handful of crypto debit cards to choose from, allowing them to spend their coins like it's cash by exchanging it the moment a transaction is made. I constantly keep up with the latest crypto debit cards, and with its current €10 signup bonus, I'm confident that the Crypto.com Rewards Visa Prepaid Card is the best on the market right now.
However, if you're looking for a better way to buy and sell crypto, I recommend Zengo, VirgoCX or Capital. All are easy-to-use platforms with zero trading fees. Capital verifies most accounts instantly and assigns each user a dedicated account manager, and as someone who's invested with them for more than 4 years, I can't recommend Capital highly enough. Zengo is also one of the most secure platforms in the Australian market, and VirgoCX is Australia's cheapest crypto exchange.
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Offer ends April 25, 2024.What Are The Best Crypto Debit Cards In Australia?
1. Crypto.com Visa Debit Card
The Crypto.com Rewards Visa Prepaid Card is a unique crypto card aimed at cryptocurrency owners who want to readily access and convert their crypto assets into spendable money.
Until crypto payment cards were introduced, customers had to wait weeks to access their money for spending. The Crypto.com Rewards Visa has solved this problem by allowing users to load their crypto funds onto the card and then convert them to the user's preferred fiat currency.
This card also enables you to earn cashback of up to 8% on your purchases and supports a wide array of different cryptocurrencies to spend.
Features
- Wide array of supported crypto (90+)
- No monthly fees or issuance costs
- Cashback deals on streaming services
Cost
- Annual fees: No annual fee
Best For
Cryptocurrency holders looking for a crypto debit card that supports plenty of different cryptocurrencies.
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2. CryptoSpend Visa Debit Card
The CryptoSpend Visa Debit Card is an Australia-based debit card that offers a digital and a physical card crypto debit card; the digital card can be activated instantly and is compatible with Google Pay and Apple pay; the physical card is accepted everywhere the Visa network is accepted.
The CryptoSpend Debit Card links up with the CryptoSpend Wallet to support five cryptocurrencies: BTC, ETC, LTC, XRP and BCH. This is how it works: when you’re making a purchase, CryptoSpend finds the best rates for your crypto across many exchanges and sells it; the merchant receives fiat.
CryptoSpend is hosted on Amazon Web Services, and your information and crypto assets are kept fully encrypted and in cold storage. Unlike most crypto debit cards, CryptoSpend doesn’t charge any subscription or other fee, besides the one-time issuance fee – they make money from trading spreads.
Features
- Supports 5 cryptocurrencies
- One-time fee ($4.99 or $14.99)
- 95% of assets are kept in cold storage
- Crypto assets are stored in cold storage
- Compatible with Google Pay and Apple Pay
- Automatic conversion to fiat when purchasing
- Supports: PayID, BSB, Account Number and Aussie Bill
Cost
- CryptoSpend Physical & Digital Card: $14.99
- CryptoSpend Digital Card: $4.99
- Monthly Fees: Free
- Transaction Fee: Free
- FX Exchange Fees: Free
- ATM Withdrawal Fee ($500/day): Free
Signup Bonus
There is no referral code available right now.
Best For
Investors looking for a very secure basic crypto debit card that supports the biggest cryptocurrencies.
3. CoinJar Mastercard Debit Card
The CoinJar Mastercard Debit Card is a debit card linked to the CoinJar crypto exchange. It works by instantly exchanging your crypto for a fiat currency at the moment you make a purchase or payment; you can freely pick which crypto to use, and you can change it at any time from the app.
The CoinJar Mastercard doesn’t have tiers – instead, it uses a reward system that awards 100 CoinJar Points for every $1 AUD spent. CoinJar Points can be used to pay transaction fees and services or exchanged for rewards like gift cards. CoinJar supports 40+ cryptocurrencies.
CoinJar offers a digital and a physical card; the digital card can be activated in seconds right from the app, and it is accepted on Apple Pay and Google Pay. The physical doesn't charge issuance fees and can be used to withdraw cash from ATMs or pay using the Mastercard network.
Features
- Earn CoinJar Reward Points on every purchase
- Make purchases in-store and online
- Supports 40+ cryptocurrencies
- Withdraw money from ATMs
- Instant digital card activation
Cost
- Online and in-store purchases: 1%
- CoinJar Physical Card: Free
- CoinJar Digital Card: Free
- Card Issuance Fees: Free
- ATM Withdrawals: 1%
- Monthly Fees: Free
Signup Bonus
500 bonus CoinJar points
Best For
Investors looking for a physical crypto debit card – backed by an exchange – and an attractive reward system.
In addition to the above, both Coinbase and Binance offer crypto debit cards.
What To Look For In A Crypto Debit Card In Australia
When comparing crypto debit cards, there are a few characteristics to consider. These include:
Low Fees: There are costs associated with some crypto debit cards, but not all of them. These might include monthly maintenance, foreign transaction, and ATM withdrawal fees. Look for a card that charges as few of these fees as possible.
High Rewards: Crypto debit cards sometimes provide perks such as cryptocurrency cashback. These incentives may significantly increase your earning potential, so seek cards with generous cashback if you want to make the most of them.
Supported Currencies: Not all crypto debit cards support more than one or two crypto tokens, so make sure to pick a card that supports the cryptocurrency you want to use type.
Availability: Some crypto debit cards are only available in specific regions, such as Europe or the United States. All of the cards on this list operate in Australia, so keep an eye out for that if you're looking at any international cards.
Other perks: Perks are a welcome addition to crypto debit cards. They come in a variety of flavours, everything from free Spotify memberships to zero ATM fees.
In Summary
Australian crypto investors have a handful of crypto debit cards to choose from, allowing them to spend their coins like it's cash by exchanging them the moment a transaction is made. I constantly keep up with the latest crypto debit cards, and with its current €10 signup bonus, I'm confident that the Crypto.com Rewards Visa Prepaid Card is the best on the market right now.
However, if you're looking for a better way to buy and sell crypto, I recommend Capital, an easy-to-use platform with zero trading fees. Capital verifies most accounts instantly and assigns each user a dedicated account manager, and as someone who's invested with them for more than 4 years, I can't recommend Capital highly enough.
Best Crypto Debit Cards In Australia FAQs
Is it legal to buy and trade crypto in Australia?
Yes, cryptocurrency is legal in Australia, and you can buy, sell and use crypto without breaking the law. However, cryptocurrency is not currently considered legal tender in Australia, and the Australian government shows no indication of accepting it as such any time soon.
Is crypto trading taxable in Australia?
Yes. Even though the Australian Tax Office (ATO) doesn’t consider crypto as money, it is regarded as property, a CGT asset for all tax purposes. When a capital gain or loss is realized from cryptocurrency, the market value of the asset, in AUD, is used to calculate the tax.
Are crypto-staking platforms regulated in Australia?
Yes. In Australia, cryptocurrency, digital currencies, and cryptocurrency exchanges are legal. The sale of crypto assets is regulated by Australia's Financial Services Regulatory Regime.
What is the best Bitcoin trading platform in Australia?
The best exchange in Australia for buying Bitcoin is Capital, which offers bank-level protection and incredibly low fees. Capital supports 100+ cryptocurrencies, processes deposits and withdrawals quickly, and verifies most accounts instantly. Alternatively, you can also choose VirgoCX, one of the best crypto exchanges in Australia.
