A crypto debit card is a type of payment card that allows users to make transactions using their cryptocurrencies. These cards work by converting cryptocurrency into a fiat currency at the point of sale, allowing users to spend their crypto assets as easily as they would with a traditional debit card.
Crypto cards can be used anywhere that accepts regular debit or credit cards, including online and physical stores. Some cards also allow users to withdraw cash from ATMs. KuCoin's KuCard is one example of a crypto card.
The crypto card is linked to a digital wallet storing the user’s cryptocurrencies. When a transaction is made, the necessary amount of cryptocurrency is converted into the local fiat currency, allowing the user to pay for goods or services.
Crypto debit cards offer a practical way for users to spend their cryptocurrencies, bridging the gap between digital assets and traditional financial systems. However, you must review the potential fees associated with these cards, including transaction fees, exchange rate fees, and card maintenance fees. Additionally, not all cryptocurrencies may be supported by all cards.