Holyheld review

Who it's for

Overview

Holyheld is a self-custodial debit card issued by a licensed partner and offered by Holyheld, a Swiss fintech company. The card is designed for individuals and companies, with a unique model that emphasizes user control over their assets. Unlike many traditional crypto cards, Holyheld does not hold your assets or create wallets on your behalf, aligning with the principles of self-custody that are popular in the crypto community. This approach can be appealing to users who prioritize security and control but also means you are fully responsible for managing your crypto assets.

For individuals, the card is available by invitation and comes with no annual fee, which is a significant advantage compared to many other crypto cards that charge hefty fees. However, the company version of the card comes with an annual fee of CHF 500, which may be a consideration for businesses evaluating this option.

How it works

The Holyheld card operates primarily with USDC, a stablecoin pegged to the US dollar, which aims to provide stability in the often volatile crypto market. This focus on USDC means that users will need to convert other cryptocurrencies to USDC to use the card’s exchange service. The card leverages a self-custodial model, meaning you retain full control over your assets and are responsible for their security. This is a double-edged sword: while it offers greater control, it also requires a higher level of responsibility and understanding of crypto security practices.

Users can top up their card using an on-ramp service that charges a 1% fee for individuals and a 0.5% fee for companies. Off-ramping, or converting your crypto back to fiat, also incurs a 1% fee. These fees are standard in the industry but can add up, especially for frequent transactions.

Fees and value

Understanding the fee structure is crucial for evaluating the card’s value. For individuals, the absence of an annual fee is a significant benefit, especially when compared to other cards that charge upwards of CHF 100 per year. However, the 1% on-ramp and off-ramp fees are important to consider, as they can impact the overall cost of using the card. For companies, the annual fee of CHF 500 is a notable expense, but the lower 0.5% on-ramp fee may offset this for businesses with high transaction volumes.

It’s also worth noting that the card’s network is not specified on official pages, which may be a concern for users who want to know which ATMs or merchants will accept the card. Additionally, the card’s ATM fee is not published, so users will need to inquire about this if they plan to use the card for cash withdrawals.

Who it’s for

The Holyheld card is best suited for individuals and companies who value self-custody and are comfortable with the responsibilities that come with managing their own crypto assets. The card’s focus on USDC makes it a good option for those who primarily use stablecoins and want a debit card that supports this. However, users who prefer a wider range of supported cryptocurrencies may need to look elsewhere.

For companies, the annual fee may be a barrier, but the lower on-ramp fee could make it worthwhile for businesses with high transaction volumes. Individuals who are invited to use the card will appreciate the lack of an annual fee, but they should be aware of the potential costs associated with the on-ramp and off-ramp fees.

Overall, Holyheld offers a unique approach to crypto debit cards, emphasizing user control and stability. However, users should carefully consider the fees and the limitations of the card’s network and supported cryptocurrencies.

Fees & costs

Pros & cons

Supported crypto

Coins:

Our take

The Holyheld card is a self-custodial option for individuals and companies seeking a stablecoin-focused debit card with a focus on asset control.

Frequently asked questions