KoinlyticsCrypto debit cards let you spend crypto at any merchant that accepts Visa or Mastercard. Behind the scenes, the flow is: merchant charges in fiat, card issuer converts your crypto instantly, network settles in fiat. Understanding the middle steps changes how you evaluate them.
Traditional crypto cards (Coinbase, Crypto.com, Bybit)
- You link your exchange account to the card.
- You tap card. Merchant charges $50.
- Exchange sells $50 of your BTC/ETH at spot.
- Exchange settles $50 to Visa/Mastercard network in fiat.
- Merchant gets paid in fiat within days.
Gnosis Pay (fully on-chain)
Different model. Your Safe on Gnosis Chain holds the collateral. Card is issued by a regulated European entity. When you tap, the card issuer pulls from your Safe via a smart contract. Actual crypto (not exchange balance) is spent.
Fees you should know
- Conversion spread: 0.5-2% built into the exchange rate.
- Foreign transaction: 1-3% on non-home-currency purchases.
- ATM withdrawal: usually free below $500/month, then 2%.
- Card fees: some tier cards require holding native token (CRO, BNB).
Rewards
Most cards offer 1-4% cashback in native token. Attractive on paper but locks you into holding that token.
What breaks
- Sanctions: cards can be blocked to specific merchants or countries.
- Exchange freeze: if your exchange account is frozen, card stops working.
- Regulatory: EU banned some cards during MiCA rollout.
Which one to use
- Fiat-hostile jurisdiction: Gnosis Pay (on-chain settlement).
- Standard consumer spend: Coinbase Card (well integrated, no annual fee).
- Rewards maximizer: Crypto.com if you already hold CRO.