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Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Best Crypto Cards South Africa 2023

    5/5

    Best For Staking Crypto

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    4/5

    Best For Instant Rewards

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    4.5/5

    Best Card with High Spending Limit

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    4/5

    Best For Asset Storage

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    4.5/5

    Best For Altcoin Payments

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    Best Crypto Cards South Africa

    South Africa is one of Africa’s top three crypto-friendly countries, behind Nigeria and Kenya. As a result, South Africa is an attractive market for cryptocurrency companies targeting the emerging African cryptocurrency industry – some of which include crypto card companies.

    Which is the Best Crypto Cards South Africa? Our Opinion:

    We researched some of the best crypto card options using different metrics, including cashback/rewards, security features, and ease of use, and discovered that the Crypto.com card is the overall best crypto card for South Africans. In this article, we highlight other best crypto cards South Africa to help investors decide which option suits their needs.

    Crypto.com Card - Best For Staking Crypto

    crypto-com-card-south africa review

    The Crypto.com card is a top feature of the Crypto.com exchange. The debit card is ideal for cryptocurrency traders who want seamless access to their crypto holdings and an efficient way to make everyday crypto purchases. The crypto card functions like a traditional prepaid debit card for online and in-store purchases.

    The standout feature of the Crypto.com card is its staking reward. Cardholders receive interest between 10% to 12% per annum when they stake the exchange’s utility token called Cronos (CRO). The card also offers a 5% cashback reward on crypto spending and interest rates between 10% to 12% on crypto staking, a 100% rebate on streaming services, like Netflix and Spotify, across different card tiers, and support for 40+ crypto assets, including Bitcoin and Ethereum.

    Unlike other major credit cards, Crypto.com’s card is a prepaid debit card. As such, it doesn’t require any form of credit score or credit history checks to set up. Neither does it affect users’ credit scores, and it charges zero monthly or annual fees. These features and benefits make the Crypto.com Visa debit card stand out from other crypto card options.

    In terms of security, Crypto.com offers users various options to safeguard their crypto debit cards and holdings. There is the common two-factor authentication (2FA) security that users can set up on their mobile apps, a unique email address or alias known by cardholders only, a 24-hour withdrawal lock, and the exchange uses anti-phishing codes to prevent cyberattacks. 

    Cry pto.com has five different card tiers, including: 

    • Midnight Blue – with no staking requirement
    • Ruby Steel – with a $400 (6,974.37 ZAR) staking requirement 
    • Royal Indigo/Jade Green Card – with a $4,000 (69,743.72 ZAR) staking requirement
    • Icy White/Rose Gold – with a $40,000 (697,437.20 ZAR) staking requirement
    • Obsidian – with a $400,000 (6,974,372.00 ZAR) staking requirement 

    The CRO rewards from staking are a big advantage of using the debit card, and the feature allows investors to put their money to use and earn passive income. However, as highlighted above, the feature requires users to lock up their CRO tokens for 180 days before getting a card, and the minimum staking amount varies across these tiers.

    Despite its numerous perks and benefits, including crypto cashback of up to 5% in staking rewards and rebates on select transactions, there are significant downsides to the Crypto.com debit card. For instance, South African cardholders who want the maximum 5% CRO reward must lock up 6.9+ million South African Rand for six months. We highlight other pros and cons below.

    Pros

    Cons

    Club Swan Card - Best For Instant Rewards

    tiers club swan card south africa

    Club Swan Card is a cryptocurrency prepaid debit card that functions like a traditional debit card, allowing users to access their crypto holdings and convert their assets to fiat currencies. Cardholders can use the Club Swan debit card to purchase products and services and pay merchants using direct crypto-to-fiat conversions.

    The multicurrency membership card was designed for crypto enthusiasts and frequent travellers who want to maximize their time, money, and experiences. The Club Swan card allows South African users to make everyday purchases using 150+ multiple currencies, including nine cryptocurrency options like Bitcoin and Ethereum. The crypto card also offers instant rewards of up to 22% cashback across its membership tiers.

    Apart from cashback, the crypto rewards card comes with other benefits and perks. These include up to 40% off travel, shopping, and other expenses, discounts on select purchases, international transactions, and free international shipping.

    In terms of security, the card is approved by the Financial Conduct Authority (FCA) and is also MasterCard supported, which offers secure merchant payments in over 100 countries, including South Africa. The card’s mobile app also offers additional security measures, including a pin code and biometric login option, 2FA, and data encryption.

    However, Club Swan’s services are strictly membership-based. Unlike many cryptocurrency cards, users must pay a membership fee to join Club Swan before getting a card and a monthly subscription fee to use its services. The club’s membership tiers and fees are: 

    • Starter – with a $129 (2,218.19 ZAR) registration fee and an additional monthly subscription of $35 (604.86 ZAR).
    • Premier – with a $499 (8615.36 ZAR) registration fee and an additional monthly subscription fee of $65 (1122.24 ZAR).
    • VIP – with a $1,195 (20631.97 ZAR) registration fee and an additional monthly subscription fee of $95 (1640.20 ZAR).

    Chairman – with a $2,495 (43076.80 ZAR) registration fee and an additional monthly subscription fee of $125 (2158.16 ZAR).

    The Club Swan debit card offers instant rewards of up to 22% cashback on crypto spending, which is one of the highest cashback rates on the market. However, the club membership requirement is a strong drawback of the debit card. We highlight other pros and cons below.

    If you need to know more, we also made an in-depth Club Swan Card Review page that you can check out.

    Pros

    Cons

    Cryptopay Card - Best Card with High Spending Limit

    what is cryptopay card south africa

    The Cryptopay Visa card is another crypto card option available to South African crypto traders and investors. The card is part of the Cryptopay exchange, and it offers a simple and secure way for individuals and businesses to spend cryptocurrencies on daily purchases. The card comes with a high spending and withdrawal limit of up to 15,000 EUR (274957.50 ZAR) monthly and up to 30,000 EUR (549,915 ZAR) on a single purchase.

    Like other popular crypto cards, the Cryptopay card is available in virtual and physical forms, with both card types featuring the same benefits. These includes online and offline payments everywhere Visa is accepted globally, interest rates between 2% and 14.7%, contactless payment support, and much more. As always, only the physical card version can be used for ATM withdrawal.

    Apart from the cashback and other rewards, the Cryptopay card supports crypto spending in 40 different crypto assets, some of which include Bitcoin, Ethereum, and other altcoins like Dogecoin and Polkadot.

    The Visa card is linked to the Cryptopay digital wallet, which allows users to not only spend their holdings in-store and online, but manage their funds in one place.

    The debit card can be easily funded directly from the Cryptopay digital wallet balance, Visa Direct payment from another card, and through digital payment services like Skrill.

    In terms of security, Cryptopay has a mandatory verification process as part of its know-your-customer (KYC) and anti-money laundering (AML) policies. The app also offers additional security measures like PIN code access, 2FA via biometrics verification and login, and instant card freeze through the app in case of loss or theft of the Visa card.

    The Cryptopay card has many benefits that users can look forward to, including an annual percentage yield (APY) of up to 14.7% on crypto staking. However, a couple of things can be improved by the company. We highlight some of them below.

    If you need to know more, we also made an in-depth Cryptopay Card Review page that you can check out.

    Pros

    Cons

    Paycent Card - Best For Asset Storage

    paycent card south africa

    Paycent is a crypto digital wallet services provider launched in 2016 by two partners, Techcent and BlockCypher. BlockCypher provides blockchain architecture solutions, while Techcent offers payment services. On Paycent, users can store, manage, hold, and spend digital assets via the Paycent Debit Card and mobile app. The Paycent card allows users to convert digital assets into local currencies for payments or MasterCard ATMs withdrawal with real-time accessibility and convenience.

    According to its website, the company has designed cards for more than 94,000 users since its inception. The Paycent Card supports 13 cryptocurrencies, including Bitcoin, Litecoin, and the Binance Coin. The card also supports three fiat currencies – EUR, GBP, and USD.

    The major feature of Paycent is its staking of the platform’s native PYN-C37 token via the mobile app. When investors stake their assets as low as 10,000 PNY-C37 tokens for up to 30 consecutive days, they earn up to 10% staking reward – depending on the amount staked during the contest.

    There are three different Paycent card types that users can choose from. Each card has its minimum requirements and unique benefits, including spending limits.

    The Ruby Card – with a physical card issuance fee of $49 (849.14 ZAR) and a maximum daily spend of $5,000 (86646.75 ZAR).

    The Sapphire Card – with a physical card issuance fee of $0 and a daily spend limit of $5,600 (97044.36 ZAR).

    The Solitaire Card – with a physical card issuance order fee of $49 (894.14 ZAR) and a maximum daily spend limit of $13,000 (225281.55 ZAR).

    Limited information was provided about the debit card’s chargeback feature and other benefits like discounts or rebates on purchases. So, it’s safe to say the Paycent Debit Card is limited in features compared to other aforementioned cards in this review. The card looks like it’s built simply for payment purposes.

    In terms of security, Paycent has stringent security measures in place to protect users’ information and funds stored in its crypto wallet, including the wallet address. The platform uses a secure server to protect against unauthorized access. Users can also secure their accounts with the customary password and 2FA security measures to protect against third-party entries.

    The Paycent card allows users to easily manage and spend their crypto holdings via the mobile app. Users can also choose to stake the platform’s native token for up to 10% profit. However, the debit card has notable shortfalls, one of which is its high card issuance fee. We highlight other things that could be worked on below.

    If you need to know more, we also made an in-depth Paycent Card Review page that you can check out.

    Pros

    Cons

    Uquid Card - Best For Altcoin Payments

    uquid card south africa

    Uquid was founded in 2016 by Tran Hung through an initial coin offering (ICO). The online digital shop is headquartered in the United Kingdom but serves over 100 countries, including South Africa. Crypto enthusiasts in the country can use the Uquid crypto debit card for seamless payments online and offline and enjoy its benefits.

    Some of the card’s perks include the ability to pay bills and purchase voucher tickets for telephone and other utilities, unlimited spending online and unlimited ATM withdrawal, free point of sales (POS) transactions, and a 3-year validity period.

    The Uquid Card is a Visa prepaid card. This means users can fund and use the Visa debit card anywhere Visa cards are accepted and withdraw cash from more than 34 million cash machines across the globe. The company also highlights that card processing is smooth and fast, so users can expect their physical cards within 2 to 3 working days.

    However, unlike other cards, the Uquid Visa card comes in two different variants. There is a Bitcoin Debit card that supports only BTC and the Altcoin debit card, which supports about 89 different altcoins, some of which include Ethereum, Litecoin, and Tether, which is a major upside to using the card. Uquid also supports three fiat currencies – GBP, USD, and EUR. However, the Uquid website offers no information about chargebacks and other rewards.

    In terms of security, Uquid claims to deploy state-of-the-art security technology to safeguard users and their funds. From our assessment of the platform, the mobile app and website allow users to create a unique password and further secure their accounts using the industry-standard 2FA feature.

    If you need to know more, we also made an in-depth Uquid Card Review page that you can check out.

    Pros

    Cons

    Crypto Cards Comparison Table

    CARD NAMECARD TYPESUPPORTED CRYPTOCURRENCIESREWARDSCARD ISSUANCE FEE
    Crypto.com CardPrepaid Debit Card40+Up to 5%Minimum of $400 (6,974.37 ZAR)
    Club Swan CardPrepaid Debit Card150+Up to 22%Minimum of $129 (2,218.19 ZAR)
    Cryptopay CardPrepaid Debit Card40Up to 14.7%5 EUR (91.65 ZAR)
    Paycent CardPrepaid Debit Card13Up to 10%$49 (894.14 ZAR)
    Uquid CardPrepaid Debit Card90Not Clearly Stated$16.99 (293.48 ZAR)

    What is a Crypto Card?

    Best-Crypto-Credit-Card-south africa

    A Crypto card is a rewards card that allows cardholders and crypto enthusiasts to automatically convert their digital assets to fiat currency and spend on products and services. Usually, these crypto cards are either debit or credit cards built by cryptocurrency exchanges and powered by payment giants like Visa and MasterCard to offer customers easy crypto payment options for bills and everyday purchases.

    Cryptocurrency cards are usually packed with rewards, especially cashback, discounts, and staking benefits, that users can enjoy when they spend or hold their crypto holdings.

    How Does it Work?

    Crypto cards function like traditional credit and debit cards. While traditional cards are funded with the user’s bank balance, crypto cards are connected to crypto funds domiciled on an exchange or a crypto platform.

    They convert crypto to fiat currency for users to spend. Some cryptocurrency cards convert fiat automatically, while others require users to fund their cards with fiat via bank account transfers or credit/debit card payments.

    The cards with automatic conversions are usually more desirable because of their convenience. When payments are made via such cards, the card instantly converts the crypto payment into selected fiat and credits the equivalent amount into the merchant’s bank account.

    For example, if a trader makes a payment of 5 BTC using a crypto card and selects USD fiat, the payment provider automatically converts the 5 BTC to USD using the live exchange rate. However, exchange fees are usually added to such transactions. So, investors must research and know these fees before choosing a card.

    In addition, cryptocurrency cards offer free crypto rewards via cashback. The rewards vary by exchange and card, but they are the card’s major perks.

    Types of Crypto Cards

    Like traditional cards, cryptocurrency cards are available as virtual cards for online payments and physical cards for in-store payments and ATM withdrawals. Both card types are also either debit (prepaid) or credit cards.

    Crypto prepaid debit cards support payments, but as the name implies, they must be funded before transactions and require no credit checks. On the other hand, crypto credit cards require credit checks and can affect cardholders’ credit scores. However, they can be used for payments without being funded. In this case, users borrow funds from the payment provider for purchases and repay at an agreed period.

    How to Use a Crypto Card

    Crypto cards are usually powered by exchanges or payment platforms. To use a crypto card, a user must have a connected account on a cryptocurrency exchange or platform.

    The card or exchange’s digital wallet must also be funded for the transactions or have a connected payment method for loan repayments. Crypto cards have similar physical features to traditional debit cards, including the cardholder’s name, card numbers, and Card Verification Value (CVV), so they can be used for POS payments, online purchases, ATM withdrawals, and bill payments.

    How to Choose the Right Crypto Card

    Choosing the right crypto card can be a daunting task, especially in a country like South Africa, where many options abound. An investor can choose a crypto debit card or credit card, depending on their needs. However, we highlight a few things to consider before making a choice. These include:

    • Security features and measures in place to safeguard users and their funds
    • Fees charged by the crypto card. These include issuance, monthly ATM fees, exchange or conversion fees, and more.
    • Staking requirements and rewards for card issuance and crypto staking across card tiers – for cards with staking feature. 
    • Rewards programs like cashback and other benefits.
    • Supported cryptocurrencies to know which aligns with the investor’s portfolio.
    • Supported countries and regions to verify card availability in the investor’s location. 

    How to Get a Crypto Credit Card

    Cryptocurrency cards are usually designed by cryptocurrency exchanges or crypto payment providers. To get a crypto credit card, investors must create an account on the exchange and then follow the steps below.

    • Download the App on the Google Play Store or App Store.
    • Verify ID by submitting personal information, KYC documents, and photo. Documents include proof of identity documents like a passport, driver’s license, or other valid government-issued IDs. Proof of address documents like utility bills and bank account statements are also required for this process. 
    • Request a crypto credit card after ID verification by visiting the card section of the mobile app. 

    Investors must check its the credit score requirements for the card chosen before applying, as this is a major prerequisite for crypto credit card approval.

    Final Thoughts

    With cryptocurrency cards, investors do not have to rely on unstable traditional finance networks and their high charges. The best crypto cards, like the Crypto.com card, offer low fees, instant crypto-to-fiat conversion for fast and reliable settlements online and offline, and cashback on spending.

    However, these crypto cards have various requirements and fees, so we’ve highlighted other reputable crypto cards for South Africans in this guide for investors to carefully consider and choose from.

    FAQ

    Most frequent questions and answers

    Crypto.com offers its crypto trading and other services to 70 million customers worldwide, including South Africans. Crypto enthusiasts in the country can access the Crypto.com card.

    There are many crypto cards available in South Africa. Some popular options include the Crypto.com card, Wirex Visa Card, Sofi Credit Card, CryptoPay card, and Binance Visa Card.

    Crypto.com is a global cryptocurrency exchange offering services to over 100 countries, including South Africa. Crypto traders in the country can buy, sell, and trade crypto assets on Crypto.com.

    Many crypto debit cards offer easy and flexible access to crypto holdings for online and offline payments. They also offer cashback and rewards that can accumulate as passive income, making them a reasonable investment decision.

    The easiest way to fund crypto wallets in South Africa is by using cryptocurrencies like Bitcoin, Ethereum, and other supported assets on the crypto exchange. Enter the wallet address and transfer funds from crypto holdings.

    Normal income tax rules apply to cryptocurrency assets and profits from trading cryptocurrencies in South Africa.

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    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.

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