1inch Card review

Overview

The 1inch Card is a prepaid Mastercard designed to provide flexibility and convenience for cryptocurrency users. Issued by Monavate, an FCA-authorized e-money institution, the card is operated by Crypto Life and Baanx, leveraging the 1inch brand. This card allows users to make contactless payments, withdraw cash from ATMs, and purchase goods and services both in-store and online wherever Mastercard is accepted. Additionally, it supports Apple Pay and Google Pay, making it a versatile option for those who prefer mobile wallet integration.

One of the standout features of the 1inch Card is its support for multiple cryptocurrencies, including 1INCH, USDT, BTC, LTC, XRP, and BXX. This allows users to manage their digital assets more effectively and use them for everyday transactions. However, it’s important to note that the card operates in a custodial manner, meaning that funds are held by the card operator rather than being self-custodial. This may be a concern for users who prioritize control over their private keys.

How it Works

Using the 1inch Card is straightforward. Users can top up their card with supported cryptocurrencies, which are then converted into the necessary fiat currency for transactions. The card supports wallet pay options, allowing users to link their card to Apple Pay and Google Pay for seamless mobile payments. This feature is particularly useful for those who prefer the convenience of mobile wallets for their daily transactions.

For users who frequently travel or make international purchases, the card offers the ability to make ATM withdrawals and foreign transactions. However, the issuer does not disclose specific fees for these services on the official card page, which may be a point of concern for potential users. It’s crucial to understand the fee structure before using the card for such purposes.

Fees and Value

While the 1inch Card offers several attractive features, the lack of transparency regarding fees is a significant drawback. The official card page does not disclose information about annual fees, foreign exchange (FX) fees, ATM withdrawal fees, or top-up fees. This omission makes it difficult for users to assess the true cost of using the card and compare it with other options on the market. For a detailed comparison of fees, users may refer to our crypto card comparison page.

It’s also worth noting that the card is issued by an FCA-authorized institution, which may provide some reassurance regarding the security and reliability of the service. However, the custodial nature of the card means that users must trust the operator to safeguard their funds.

Who It’s For

The 1inch Card is best suited for cryptocurrency enthusiasts who value the convenience of using their digital assets for everyday transactions. Its support for multiple cryptocurrencies and integration with popular mobile wallets make it a flexible option for those who frequently use crypto in their daily lives. However, users who prioritize self-custody and transparency in fee structures may want to explore other options. For a comprehensive evaluation of crypto cards, including a detailed rating system, visit our how we rate page.

Additionally, users who are comfortable with custodial solutions and are not deterred by the lack of fee information may find the 1inch Card to be a convenient choice. As with any financial product, it’s essential to weigh the pros and cons and consider personal preferences and risk tolerance.

Fees & costs

Pros & cons

Supported crypto

Coins:

Our take

The 1inch Card offers flexibility with multi-crypto support and mobile wallet integration but lacks transparency on fees and is custodial, which may deter some users.

Frequently asked questions