CoinsOnCards

    Issued by Monavate Limited — FCA-authorised Electronic Money Institution and principal Mastercard member (FRN 901097)

    1inch CardReview

    A hybrid-custody Mastercard debit card for UK/EEA residents that spends crypto from user wallets.

    3.0· Updated: Monavate and Baanx have combined to form W3C Corp, a new global payments infrastructure group
    Visit issuer
    Cashback
    Up to 2.0%
    Custody
    hybrid
    KYC
    full
    Networks
    —
    Monthly fee
    Free
    Available in
    —

    The verdict

    Best for: UK/EEA residents wanting to spend crypto with a self-custody-style flow.

    Skip if: You are outside the UK/EEA or sensitive to high transaction fees (3.75% total).

    • Earns up to 2% cashback, but high 3.75% total fees negate rewards.
    • Hybrid self-custody model, but the Crypto Life brand is on FCA warning list.
    • Supports Apple Pay and Google Pay, but is limited to UK/EEA residents.
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    How it works

    • * **Hybrid Custody:** Funds remain in your wallet until the point of purchase.
    • * **Instant Virtual Card:** A virtual card is issued immediately after KYC approval for use with mobile wallets.
    • * **CryptoDraft:** An interest-free crypto-backed credit line for the first 10% of collateral value (0% APR). Higher LTVs incur interest.
    • * **StableLoan:** Fixed-term loans with predetermined interest rates.
    • * **BXX Staking Benefits:** Optional staking of BXX tokens unlocks higher interest-free credit limits on CryptoDraft and StableLoan.
    • * **Mobile App Management:** Control the card, view transactions, and manage rewards via the 1inch Wallet app.

    Funding: No pre-loading required - funds deducted from connected crypto wallet at purchase · CryptoDraft (crypto-backed credit) · StableLoan (crypto collateral)

    Borrowing terms

    Interest: Borrowing above 10% LTV incurs interest around 1% per month, up to maximum LTV around 60% depending on programme terms.

    CryptoDraft: Interest-free crypto-backed credit line (0% APR on first 10% of collateral value). StableLoan: Fixed-term loans with predetermined interest rates.

    BXX staking yields: up to 25% APR/APY for 12-month BXX stakes (5% APY for 3-month, 7% for 6-month, 10% for 9-month). Rates subject to change.

    Custody & risk

    • If the issuer disappears
      If the provider or issuer were to fail, unspent crypto in the user's personal wallet remains accessible. However, any fiat balances held by the custodial issuer could be at risk.
    • Regulatory risk
      Crypto Life brand appears on FCA warning list as an unauthorised firm providing or promoting financial services without permission
    • Counterparty risk
      Fiat balances are held custodially - if provider disappears, fiat balances are lost
    • Market risk
      BXX token market risk - value can fluctuate affecting real value of rewards earned

    Users maintain control of their crypto private keys in their own wallet until the point of purchase. Funds are only moved and converted to fiat at the moment of a transaction. The resulting fiat balance is held custodially by the issuer.

    Protections

    • Two-Factor Authentication (2FA) for account login and sensitive actions
    • Ability to freeze card instantly
    • Encrypted communications (HTTPS and app-layer encryption)
    • Biometric authentication through wallet app

    Limits

    notes
    Monthly cashback cap of €4,800
    atm monthly
    High limits; withdrawals above €10,000/£10,000 require additional documentation
    daily spending
    €8,000 (or GBP equivalent)

    The good

    • No monthly or annual fees.
    • Up to 2% cashback with no staking.
    • Instant virtual card after KYC approval.
    • Interest-free CryptoDraft up to 10% LTV.

    The catches

    • High fees: 2% spend + 1.75% conversion.
    • 2% cashback requires taking BXX token.
    • Crypto Life brand on FCA warning list.

    Limitations

    • majorCurrently only available in the UK and European Economic Area (EEA)
    • moderate2% card spend fee plus 1.75% crypto-to-fiat conversion fee on each transaction
    • moderate2% cashback option requires accepting rewards in BXX token
    • moderateMay face standard prepaid card limitations with hotel/car rental holds
    • moderateBXX token has limited liquidity compared to major cryptocurrencies
    • moderateCrypto Life brand appears on FCA warning list (though underlying issuers are regulated)
    • minorMonthly cashback rewards capped at €4,800
    • minorCannot be used where physical imprint or swipe is required (for virtual card)
    • minorStandard Mastercard merchant category restrictions apply

    Where rewards don't apply

    • Hotels and car rentals — Standard prepaid card limitations - may face issues with security deposits and merchant holds

    What users say

    App Store
    3.9/5.0 (580 ratings)
    Google Play
    4.1/5.0 (4,281 ratings)
    Trustpilot
    4.5/5.0 (544 ratings)

    Positive: Seamless spending experience, Apple/Google Pay convenience, no monthly fees. Negative: BXX conversion can be cumbersome, reward payout delays, limited physical card availability initially.

    Rating breakdown

    Net reward
    2.3
    Custody risk
    3.5
    Availability
    2.0
    User experience
    4.1
    Features & convenience
    4.0

    See our methodology for how we score each axis.