The idea behind an anonymous crypto debit card is one can use it without disclosing their identity to any third party or the government.
While this idea sounds great on paper, it’s not practical. Federal law requires these companies to verify their customers’ identities before providing crypto debit cards, and the regulations are only getting stricter.
So, while a complete anonymous crypto debit card doesn’t seem possible anytime soon, there are some ways to work around the system legally.
In this article, we’ll discuss some of these possibilities.
Anonymous Crypto Debit Card – Does it Exist?
We might be generalizing a little, but more often than not, people who use crypto for daily transactions are usually the type of people very concerned about their privacy.
That’s likely why they might want an anonymous crypto debit card in the first place – something that combines the anonymity and security of cryptocurrency technology and the convenience of a standard debit card.
But as we said before, that’s not possible. Getting a crypto debit card involves creating an account with the exchange that provides these cards.
Read our guide to crypto debit cards to know more about how they work.
For example – Coinbase. The problem is that Coinbase requires its users to verify their identity and complete KYC to open an unrestricted account.
The government mandates that these exchanges verify their user identities to prevent tax evasions, money laundering, terrorist funding, etc.
But we also said that there are some ways to work around this. The following are some exchanges and crypto debit card companies that provide anonymous cards.
But there has to be a catch, right?
Yes, there is.
Before we even start to talk about this, we wanna warn you that BitPlastic may be a huge scam. So, proceed at your own risk.
BitPlastic is the only company that claims to offer 100% anonymous debit cards without verification, background check or any transaction limits.
Though there is no foolproof evidence of BitPlastic being a scam, many users complain about funds being stolen or lost and customer support not helping or acting extremely unprofessional. Here’s one of them.
So, the moral of the story is if anyone is claiming to provide crypto debit cards without verifying your identity, they are either a scam or breaking the law. Regardless, you should avoid them at all costs.
But there are legit companies providing anonymous crypto debit cards too.
CryptoPay and Wirex
CryptoPay and Wirex are two companies that provide anonymous debit cards but have transaction limits.
To use their complete services, you’ll have to verify your identity.
To work around the limitations, you can get a new anonymous debit card each time you exceed your limit, but as you can imagine, this approach is highly inconvenient.
You either sacrifice convenience for privacy or privacy for convenience. But you can’t have both. At least, not anytime soon.
Plus, as we said before, government regulations are getting stricter around this, so the lifetime limit for these cards may get even lower in the future.
As of now, no company offers anonymous debit cards. At least not a legit one. And based on the current environment around crypto regulations, it doesn’t seem like we’ll get one anytime soon.
However, there are anonymous crypto exchanges and liquidity pools you can use, but of course, they won’t serve you the purpose of a debit card.