Krak Card
- Practically no fees for anything, except ~1% spread when converting Crypto to EUR
- 2% cashback with no cap
- 0% ATM Fee, 0% Foreign Exchange Fee, 0% Transaction Fee
- Apple Pay Enabled
- Only Europe supported for now
- 12,000 EUR monthly spend limit - not suitable for high spenders or solopreneurs
-
Key Features
| Visa or MC | |
|---|---|
| Debit or Credit | Debit Card |
| Denominated In | € EUR |
| Apple Pay | Enabled |
| Monthly Fee | 0.00 EUR |
| Monthly Inactivity Fee | 0.00 EUR |
| Crypto to EUR Crypto->EUR Conversion Cost | ~1% |
| Highest Cashback | 2% |
| Entry-Level Cashback | 2% |
| Entry-Level Cashback Monthly Cap | 240 EUR |
| Daily Spending Limit | 12,000 EUR |
| Daily ATM Withdrawal Limit | 900 EUR |
| Foreign Exchange Fee | 0% |
| Crypto to Fiat Conversion | Auto on Every Purchase |
| Identity VerificationID Verification | KYC Requiredi |
| Crypto Asset Management | Custodial (stores crypto keys on your behalf) |
| Supported Blockchains | ArbitrumAvalancheBaseBinance Smart ChainBitcoinCosmosDogecoin |
| Supported Cryptocurrencies | 0G1INCH2ZAAAVEABACAACHACTACUACXADAADIADXAERO |
| Supported Countries | AustriaBelgiumBulgariaCyprusCzechiaGermanyDenmarkEstoniaSpainFinlandFranceUnited KingdomGreeceCroatiaHungaryIrelandIcelandItalyLiechtensteinLithuaniaLuxembourgLatviaMaltaThe NetherlandsNorwayPolandPortugalRomaniaSwedenSloveniaSlovakia |
Krak Card Benefits and Rewards
Krak Card offers 2% cashback on eligible purchases with no monthly cap. But the cashback is still limited by the €12,000 monthly spending limit, meaning the most you can earn is €240 cashback per month.
Reality CheckAlthough other cards may advertise higher cashback rates, entry-level users with 1,000 EUR in assets typically receive much lower cashback rates from those cards. When compared at the entry-level tier, Krak Card's 2% cashback offers more value:
| Krak Card | Industry Average1 | |
| Entry Level Cashback | 2% | 1% |
| Entry Level Cashback Monthly Cap | 240 EUR | 30 EUR |
There is no subscription fee and no minimum balance requirement – you automatically start earning rewards as soon as you use the card.
You can choose to receive cashback in EUR or BTC. If you pick BTC rewards, cashback amount is converted to Bitcoin the moment the transaction settles. This means you will have BTC in your account, which can change value with time. Convenient, if you plan holding on to it long term – if not, pick EUR.
Krak Card is a Debit Card
- Debit Card
- Credit Card
- Prepaid Card
- DE
IBAN Bank Account- in your name
Krak Card is a debit card. Alongside, Kraken offers you a personal bank account. You'll receive a Germany-based IBAN bank account number issued in your name.
Not so Great:Third party senders cannot deposit funds into your Kraken bank account - you can only receive deposits from accounts in your name. This means you will not be able to receive your fiat withdrawals from other exchanges or receive salary payments.
It Comes in Both Physical and Virtual Forms
You can get Krak Card in both physical and virtual versions, a feature only available with 30% of crypto cards. They'll mail you the physical card, and you can instantly get the virtual card online after completing KYC Identity Verification.
Wondering about the perks of each card type? Here are some highlights:
Physical Card | Virtual Card |
|---|---|
| ATM Withdrawals | Second Card Number |
| Required for Car Rentals, Hotels | Instant Availability |
| Useful When Phone Dies, or no Wifi | Freeze for Safety |
| Backup Payment Method | Set Lower Spend Limits |
Cost to Order: 0 EUR | Cost to Order: 0 EUR |
You will find the physical Krak Card useful for in-person purchases, while the virtual card will be perfect for online transactions like subscriptions.
Free Physical & Virtual Cards:You get both the physical and virtual card for free - while most other crypto cards charge at least for the physical card.
Crypto-to-EUR Conversion Cost with Krak Card
Krak Card Converts Your Crypto on Demand
Krak Card offers instant conversion to EUR at the time of purchase. This allows you to hold your crypto and exchange to real-life currency only when you need to. No need to pre-convert your cryptocurrencies or preload the card.
| Crypto to Fiat Conversion Fee | 0% |
| Sell Spread | ~1% |
| Load Fee | 0% |
| Transaction Fee | 0% |
| Total Crypto to EUR Cost | ~1% |
Low Cost:Compared to the average ~1.6% crypto-to-fiat cost of other cards, converting crypto with Krak Card is much more cost-effective (~1%). This means that you will get more EUR for your crypto when using this card.
From all crypto cards we reviewed for Europe, OKX Card, WhiteBIT Card and Holyheld Card offer the cheapest crypto-to-fiat conversions (~0.1%, ~0.28% and ~0.5% respectively), while converting crypto with OWNR Card will cost you the most, ~4.64%.
How Does Krak Card Compare to Other Crypto Cards?
Krak Card ranks #17 out of 73 amongst all the crypto cards we have reviewed so far. This card is a solid choice among the many crypto cards available, offering competitive features and benefits.
We compared Krak Card with 42 similar crypto cards, available for the same geographical region. See the resulting pros and cons below.
Strongest Features Against Competitors
Here are the strongest features of Krak Card against its 42 competitors:
- Offers up to 240 EUR per month in cashback for entry-level users (exceeding the competitors' 30 EUR average).
- Has a Foreign Exchange Fee of 0% (other cards have 1.5% average).
- Supports 594 cryptocurrencies (while other cards support an average of 15).
- Doesn't require preconverting of your crypto, converts needed amount automatically on every purchase (while 60% of competing crypto cards require you to preload card in advance).
- You can get both a physical card and a second virtual card (while 70% of competing crypto cards offer only one type - either physical or just virtual).
- You won't be charged any monthly fee (while 20% of other crypto cards charge one, with a median of 1.6 EUR per month).
- Cost to withdraw cash from a local ATM is really low at ~2.5% (comparing to the average of ~4.2% when withdrawing with other cards.)
- Their crypto-to-fiat conversion cost, including all related fees and spread, is among the lowest at ~1% (versus an average of ~1.6% with other cards.)
- Their overall fees & limits structure is incredibly generous, with a score of 8.8/10 (average fees & limits structure rating amongst other cards is 6.2/10).
- Offered by a major crypto exchange, so you can trade, and spend your trading profits, all from inside of one ecosystem, without needing an external service.
- Physical and virtual cards are issued free of charge (while most other crypto cards charge at least for the physical card).
Weakest Features Against Competitors
Compared to its 42 competitors, here are the shortcomings of Krak Card:
- Offers 2% cashback (while other cards give an average of 4%).
- Doesn't offer any free ATM withdrawals (in contrast to 40% of crypto cards which offer an average of 200 EUR free withdrawal allowance per month).
Krak Card vs. Phantom Card vs. KAST Card
Krak Card
|
Phantom Card
|
KAST Card
|
|
|---|---|---|---|
| Monthly Fee | 0.00 EUR | 0.00 USD | 0.00 USD |
| Crypto to Fiat Cost | ~1% | ~0.95% + Gas Fees | 0% |
| Highest Cashback | 2% | None | up to 5% |
| Entry-Level Cashback | 2% | None | 1.5% |
| Daily Spending Limit | 12,000 EUR | 5,000 USD | Unlimited |
| Daily ATM Limit | 900 EUR | N/A (Virtual-Only Card) | 750 USD |
| Foreign Exchange Fee | 0% | 0% | 1.75% |
| Asset Management | Custodial | Non-Custodial | Custodial |
Availability for  United States |
|||
| Supported Cryptocurrencies | 594 | 1382 | 5 |
| Apple Pay | Enabled | Enabled | Enabled |
| Customer Service | Average | Average | Great |
| Brand Authority | Growing | Well-Known | Growing |
If you plan to use your card for daily purchases, then daily spending limit is an important consideration for you. KAST Card offers an unparalleled Unlimited daily spending limit. You will get lower daily limits with Krak Card and Phantom Card.
Cashback rewards are a great way to earn back some of the money you spend on your card and is an important consideration as well. Out of the three, KAST Card offers the best cashback rewards of up to 5%. The cashback rewards for Krak Card are not as high. With Phantom Card, you will have no cashback rewards at all.
To make a good choice, look through all features, as it is an individual choice. If you will mostly do online transactions with this card, then Apple Pay availability may not be a very important feature for you. If you travel a lot, foreign exchange rate will matter. And so on.
Krak Card ATM Fees: The Real Cost of Cashing Out
Local ATM Withdrawals in EUR
Here's a breakdown of the fees you'll face when making local ATM withdrawals with your Krak Card:
Starting with an initial amount of 200 EUR in ADA, the ATM withdrawal with Krak Card will cost you a total of ~5 EUR (2.5% of 200 EUR), resulting in a final cash withdrawal of 195 EUR in hand.
Doesn't Krak Card Offer Free ATM Withdrawals?
No, it doesn't. Which is a shame, because 40% of competing cards offer free ATM withdrawals, typically allowing up to 200 EUR per month without fees.
International non-EUR ATM Withdrawals
Things will get significantly worse for International ATM Withdrawals. If you're out of country and cashing out with your Krak Card, here's what it will look like:
For an international withdrawal using your Krak Card with an initial 200 EUR in ADA, you'll incur fees totaling ~10.94 EUR (5.5% of 200 EUR), leaving you with 189.06 EUR in the equivalent foreign currency.
Reality CheckCompared to other crypto cards, Krak Card is more cost-effective for both local and international ATM withdrawals:
| Cost with Krak Card | Cost with Other Cards | |
| Local ATM Withdrawals | ~5 EUR (2.5% of 200 EUR) | ~8.4 EUR (4.2% of 200 EUR) |
| International ATM Withdrawals | ~11 EUR (5.5% of 200 EUR) | ~17.6 EUR (8.8% of 200 EUR) |
From all crypto cards that we reviewed, Bleap Card, Trade Republic Card and Holyheld Card offer the cheapest local ATM withdrawals (1.8%, 2.2% and 2.5% of 200 EUR respectively), while OWNR Card scores the worst, landing last on the list with a total local ATM withdrawal cost of 9% of 200 EUR.
Kraken Invite Code - to Get 10 USD Bonus
You can use Kraken invite code cryptonoshi to get 10 USD bonus when you create an account on Kraken platform.
Here's how you can enter the invite code:
..or, just click here.
Your bonus will be paid out to you right after you signup and deposit your first $10.
p.s. Are we getting paid for referring you? Yes, and it helps us continue our mission. It's like you are buying us lunch 🍱 for all the hard work we've put into building this site. We really appreciate it. Thank you. 🙏🤗
Is Krak Card Available for Residents of United States?
No, Krak Card is not available for residents of United States.
Krak Card supports the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, The Netherlands, United Kingdom.
To see our list of available crypto cards for 🇺🇸 United States, see this list. There are currently 19 cards listed there.
You may also be interested in this article: Crypto Cards for USA: The Best Options for Americans.
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