Best Crypto Cards South Africa 2023
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
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.
Club Swan Card - Best For Instant Rewards
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.
Cryptopay Card - Best Card with High Spending Limit
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.
Paycent Card - Best For Asset Storage
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.
Uquid Card - Best For Altcoin Payments
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.
Crypto Cards Comparison Table
|CARD NAME||CARD TYPE||SUPPORTED CRYPTOCURRENCIES||REWARDS||CARD ISSUANCE FEE|
|Crypto.com Card||Prepaid Debit Card||40+||Up to 5%||Minimum of $400 (6,974.37 ZAR)|
|Club Swan Card||Prepaid Debit Card||150+||Up to 22%||Minimum of $129 (2,218.19 ZAR)|
|Cryptopay Card||Prepaid Debit Card||40||Up to 14.7%||5 EUR (91.65 ZAR)|
|Paycent Card||Prepaid Debit Card||13||Up to 10%||$49 (894.14 ZAR)|
|Uquid Card||Prepaid Debit Card||90||Not Clearly Stated||$16.99 (293.48 ZAR)|