Cypher Card is a prepaid crypto card that earns you $CYPR in shopping cashback each time you use it. Backed by Coinbase Ventures and YCombinator, Cypher launched as a multi-chain wallet for holders having trouble moving assets between Ethereum and Cosmos. But now its mission is to replace traditional airline miles and credit card points, bridging smart contracts and DeFi to let users earn token rewards for spending.
If you are still undecided about ordering your Cypher Crypto Card online, follow along closely. In this card review, you will learn how the Cypher Card ecosystem works, the perks of getting one, and whether it makes sense for you.
What is Cypher Card?
Cypher Card gives you a way to spend your digital assets just as easily as fiat. There is no lending involved. You spend your crypto, and Cypher converts it to local currency at the point of purchase.
In addition, spending with Cypher grants you $CYPR Cashback, valid on eBay, Amazon, Disney, and all the other popular e-commerce sites. This is what sets Cypher Card apart from its alternatives. If you spend at a partner merchant, Cypher Card’s smart contract will automatically send $CYPR rewards to your wallet.
Cypher Card Fees
Cypher Card is available through a two-tier system of Standard and Premium. By paying the annual $199 fee, Premium users enjoy lower conversion and foreign exchange fees compared to Standard-tier users. 
| Category | Standard | Premium |
|---|---|---|
| Annual Fee | Free | $199 |
| Virtual Card Fee | Free | Free |
| Merchant Support | 50M+ | 50M+ |
| Apple & Google Pay | Yes | Yes |
| Rewards | 1X | 2X |
| Additional Virtual Card | $10 each | $10 each |
| Physical Card | $50 Shipping Cost | Free shipping |
| Add-on Card | None | Up to 3 ($69 shipping each) |
| Load Fee (USDC) | 0.5% | 0% |
| Load Fee (Other Tokens) | 1% | 0.5% |
| Transaction Fee | Zero fees | Zero fees |
| Forex Markup (Non-USD) | 1.75% + up to 1% bank fees | 0.75% + up to 1% bank fees |
| ATM Withdrawals | 3% | 2% |
| Low Liquidity Token Load | 1% – 3% | 1% – 3% |
| Fraud Protection | Not offered | Up to $300 |
| Reversal to Crypto | 0.5% (Minimum $1) | 0.5% (Minimum $1) |
Cypher Card Limit
- Cypher Card Standard has a $50,000 daily limit and a $150,000 monthly limit.
- Cypher Card Premium has a $200,000 daily limit and a $500,000 monthly limit.
As we mentioned earlier, you must contact support if you want to increase your limit.
Cypher Card Cashback Explained
Cashback is one of the main selling points of the Cypher Card. Active users receive token rewards under the following structure:
- Users earn more CYPR tokens the more they use the card to shop.
- Rewards are calculated every 14 days and vary depending on your plan tier and factors like boosted resets from partner stores.
- Rewards are categorised as base Soends or boosted Soends. Boosted merchants offer 2x, 3x, etc.
- Through veCYPR voting, users can vote for preferred merchants, thus having a say in the reward distribution.
- Rewards do not apply to refunds, ATM withdrawals, and Visa Direct transactions.
In addition, Cypher Card has partnered with over 300 merchant stores to offer boosted rewards. You can simply browse the merchant list via the app to see which stores are boosted within the ongoing epoch or 14-day cycle.
Cypher Card Security
Cypher Card protects users on the network by implementing these security protocols.
- KYC onboarding
- PIN code for transactions
- 3-D Face ID for online purchases
- Two-factor authentication
- Lockdown mode which instantly freezes your card
Cypher Card Basic Features
Basic features of the Cypher Card
Non custodial
Cypher Card is non-custodial in nature, so you retain full control of your assets in the linked wallet up until the exact moment of conversion.
Instant crypto-to-fiat conversion:
Cypher Card converts your digital assets in real time, allowing you to spend crypto holdings just as easily as cash.
You can receive a virtual Cypher Card at any moment. Just complete KYC and apply for free. If you want the physical plastic card, it is also free. But the metal card is exclusive to premium-tier users.
Family spending
Cypher is also designed to make family spending and budgeting simple. Adults can open cards under different household members, set limits, and track the spending of household members.
Business Support
In addition, Cypher Card is one of the only providers that offers KYB onboarding for enterprise users. This makes it a good choice for companies that want to issue team cards and unify company spending.
Pros of Cypher Card
Why use the Cypher Crypto Card:
- Accepted in 150+ countries: This means your Cypher Card has spending power in almost every geographical location.
- Supports 25+ blockchains: Choose Cypher Card over alternatives if your assets are scattered across blockchains
- Additional Security. All transactions run on a regulated US infrastructure.
- $CYPR Cashback rewards at 300+ merchant stores.
- Monthly spending limits up to $200k for premium members.
Cons of Cypher Card
Downsides to the Cypher Crypto Card:
- $50 shipping fee for Standard cards
- If you want to increase your limit, you must contact support.
- Yield farming $CYPR is riskier than BTC or ETH.
- Topping up your Cypher is nearly instant but an extra step compared to direct-debit cards.
Premium users enjoy $300 fraud protection insurance, while standard cards are subject to regular zero liability policies. Not to worry though, Cypher’s non-custodial nature means you keep control of all your assets until they are converted.
Cypher Crypto Card Supported Countries
Cypher Card is available in the following locations:
United States
Cypher Card is allowed in all states in the U.S except Ohio, Georgia, Washington, Wisconsin, Arizona, Maryland, Missouri, Oregon, Louisiana, New Mexico, Idaho, Delaware, North Dakota, South Dakota, Wyoming, Rhode Island, and Vermont.
Europe
United Kingdom, Germany, France, Italy, Spain, Netherlands, Switzerland, Sweden, Poland, Belgium, Norway, Denmark, Ireland, Austria, Finland, Portugal, Greece, Czech Republic, Hungary, Romania, Slovakia, Croatia, Slovenia, Lithuania, Latvia, Estonia, Luxembourg, Iceland, Cyprus, Malta
Asia and Oceania
South Korea, Turkey, Saudi Arabia, Taiwan, United Arab Emirates, Thailand, Vietnam, Malaysia, Hong Kong, Kazakhstan, Qatar, Kuwait, Oman, Uzbekistan, Sri Lanka, Turkmenistan, Bahrain, Nepal, Mongolia, Laos, Kyrgyzstan, Tajikistan, Maldives
Africa
Nigeria, Egypt, Algeria, Ethiopia, Ghana, Tunisia, Angola, Zambia, Botswana, Mauritius, Madagascar, Gabon, Equatorial Guinea, Benin, Togo, Niger, Mauritania, Malawi, Lesotho, Chad, Gambia, Djibouti, Seychelles, Comoros, Sao Tome and Principe, Swaziland
Americas
United States, Canada, Brazil, Mexico, Argentina, Chile, Peru, Dominican Republic, Ecuador, Guatemala, Costa Rica, Panama, Uruguay, Paraguay, Honduras, El Salvador
Prohibited Countries
Russia, Iran, Venezuela, Iraq, Cuba, Libya, Sudan, Zimbabwe, Myanmar (Burma), North Korea, Yemen, Afghanistan, Belarus, Somalia, South Sudan, Syria, Central African Republic, DR Congo (Democratic Republic of the Congo)
Cypher Card Review: What’s There to Like About Cypher Card
Now that you understand how the Cypher Cryptocurrency Card works, let’s discuss what there is to like about the card. Well, number one, it is available in more than 150 countries and accepted by 50 million merchants, so as long as you have your virtual or physical card, you will never be helpless if you are in a foreign country.
Adding to that, Cypher Card is the crypto-agnostic’s dream. It lets you manage digital assets across 15+ blockchains without ever downloading a centralised exchange. Finally, Cypher gives you a one-of-a-kind chance to earn rewards for something you do every day, spending!
Conclusion: Who is the Cypher Crypto Card For
To sum up, Cypher Card is a prepaid cryptocurrency card that lets you spend your crypto as easily as you would with local currency. Choose this DeFi card if
- You are a high roller who wants a big spending limit. How big? $200,000 to $500,000 a month big.
- You have your assets scattered across Solana, Ethereum, Cosmos, and other blockchains.
- You want to participate in $CYPR cashback rewards.
Cypher Card Review FAQs
Is the Cypher Card available now?
Yes, the Cypher is currently available. As long as you reside in a supporter location, you can order your Card via the Cypher site.
What material is the Cypher Card made of?
Standard Cypher Cards are made of PVC. If you prefer the metal card, it comes with the Premium package.
How do I get a Virtual Cypher Card?
Go to the Cypher site and order your card today. Virtual cards are given instantly after KYC verification.
How do I get a Physical Cypher Card?
The same process goes for ordering your plastic or metal card. Log in, apply through the dashboard, and wait for timely approval.
What is the annual fee for the Cypher Card?
There is no annual fee for the standard Cypher Card. Premium, on the other hand, costs $199 per year.
What Is the Cypher Card Refund Policy?
The Cypher Card return policy states that Premium plan users can request a refund within 7 days of purchase, as long as the card has not been shipped. A plastic card or virtual card, in comparison, is non-refundable once it has entered production.
What is the foreign exchange fee for a Cypher Card?
Standard tier users pay 1.75% FX fee, while Premium users pay 0.75%. However, you may incur up to 1% extra fees depending on bank charges.
Source:
https://www.linkedin.com/company/cypher-official/
