Spritz Card vs. Ultimo Card: Which is Best in 2024?
Crypto debit cards bridge the gap between the real and digital world, allowing users to spend crypto on real-world goods and services. Two popular options for 2024 include the Spritz Card and Ultimo Card.
This article compares these two options, evaluating their features, benefits, and potential drawbacks to help you decide which card suits your needs best, as well as introducing a third option into the mix.
Table of Contents
- Overview of Crypto Debit Cards
- Spritz Card Features
- Ultimo Card Features
- Grineo: A Stablecoin Card for Australians
- Comparing Fees and Charges
- Security Measures
- Pros and Cons of Spritz Card, Ultimo Card, and Grineo Card
- Which Card is Best for You?
Overview of Crypto Debit Cards
Crypto debit cards function similarly to traditional debit cards but are linked to a cryptocurrency wallet instead of a bank account. These cards enable users to spend their digital currencies at any merchant that accepts regular debit or credit cards, facilitating the conversion of crypto assets into fiat money in real-time.
The increased adoption of crypto debit cards is driven by their convenience, security features, and the expanding acceptance of cryptocurrencies in retail and online markets. Both Spritz Card and Ultimo Card are designed to cater to the growing market of crypto enthusiasts looking for efficient and secure ways to utilize their digital assets.
Spritz Card Features
The Spritz Card is a virtual crypto debit card that lets users spend crypto.
Once loaded with crypto, the card handles the conversion to fiat, making it usable at any merchant that accepts Visa.
- Visa card (virtual only, no physical)
- Supports a wide range of currencies
- Medium fees
- No ATM withdrawal option
Security is a significant focus for the Spritz Card, featuring advanced cryptographic measures to protect user data and transaction details. The card number is visible only to the user, adding an extra layer of security. While the card is currently digital-only, it can be added to digital wallets like Apple Pay and Google Wallet for ease of use.
The Spritz Card supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Polygon, Base, and Solana. However, it has limitations, such as not being usable at EU merchants requiring 3D Secure (3DS) verification, and it does not offer a physical card option at present.
Ultimo Card Features
The Ultimo Card offers virtual and physical Visa debit cards. Ultimo stands out with its offshore banking benefits, aimed at users seeking tax-free off-ramp solutions and a more global approach to managing their finances.
The card supports BTC, USDT, BUSD, and USDC.
Ultimo can be used almost anywhere Visa is accepted, making it an ideal option for frequent travelers and those who require seamless international transactions.
Ultimo emphasizes secure offshore banking and provides a robust transaction platform, ensuring that user funds and transaction data are well-protected. Details on specific fee structures are not very transparent, and the fees are higher than many competitors, which could be a consideration for potential users.
Grineo: A Stablecoin Card for Australians
A third option you may want to consider is the Grineo Card, a stablecoin card that allows users to spend stablecoins like cash.
Issued by Visa, the card is accepted worldwide. Users can tap and spend at pay points or withdraw USDT and USDC as cash from ATMs instantly. The card has low fees and excellent customer support. Grineo users can deposit and swap BTC, ETH, USDC, and USDT to the app and spend USDC and USDT anwhere they want.
Customer accounts are protected with PassKey security methods wherein user passwords are not stored on the Grineo servers.
- Supported currencies: USDC and USDC on the card, as well as ETH and BTC in the app
- Fees: Low
- Supports ATM withdrawals with physical card
The card is more limited than competitors in terms of supported currencies, but tends to shine in the areas of fees, ease of use, and customer support. Grineo is only available to Australian residents.
Comparing Fees and Charges
When evaluating crypto debit cards, understanding the fee structure is crucial as it directly impacts the overall cost of using the card. Here is a detailed breakdown of the fees associated with the Spritz Card and the Ultimo Card to help you make an informed decision.
Spritz Card Fees
- Loading/Top-Up Fees: The base fee for loading or topping up the Spritz Card is 1%, which includes a combination of 0.5% for the base fee and an additional 0.5% for the virtual card load, with a minimum fee of $2 per transaction.
- Crypto to Fiat Conversion: The base fee for converting crypto to fiat is 0.5%, with a minimum fee of $2. There are additional adjustments based on the token and blockchain used. For example, using Bitcoin incurs an extra 1.5% fee with a minimum fee of $5.
- Fiat to Crypto (On-Ramp): A flat fee of 1% applies to transactions converting fiat to crypto.
- Spending Fees: There are no additional fees for spending using the Spritz Card once it is loaded
Ultimo Card Fees
- Card Issuance: $600 USD ($ 150 goes into your bank account balance)
- ATM Pin Change: $10 USD
- Maintenance fee: $50 USD annually
- Crypto conversion: 3%
- BTC deposit: Free
- Card transactions: Unknown
Grineo Card Fees
- Card issuance: Free for virtual, $5.99 AUD for physical
- Maintenance fees: Free
- PIN change: Free
- Deposits: Free
- Crypto swaps: 0.2%
- Transaction fee: 1%
- ATM withdrawal: 1%
As we can see, Grineo’s fees are significantly lower than those of Ultimo and Spritz, although it can be argued that the different cards serve different purposes.
Security Measures
Security is a critical consideration for any financial product, and all three cards prioritise protecting user funds and data.
The Spritz Card employs industry-standard security measures to safeguard transactions. This includes advanced cryptographic techniques that ensure only the user can view the card number, adding a significant layer of protection.
The Ultimo Card also places a strong emphasis on security, particularly given its use for offshore banking. It provides a secure platform for transactions and the management of funds, leveraging secure protocols to protect user information.
The Grineo Card supports PassKey technology that encrypts user data and stores the user passwords on the reknowned PassKey servers for added protection.
Pros and Cons of Spritz Card, Ultimo Card, and Grineo Card
Now let’s take a look at some of the pros and cons of each card.
Spritz Card Pros and Cons
Pros:
- Instant conversion of cryptocurrency to fiat, facilitating seamless real-world transactions.
- No additional spending fees, making it cost-effective for frequent use.
- Supports a wide range of cryptocurrencies, providing flexibility for users.
- High security with advanced cryptographic measures and integration with digital wallets.
Cons:
- Not usable at EU merchants requiring 3DS verification.
- Currently only available as a digital card, with no physical card option.
Ultimo Card Pros and Cons
Pros:
- Offers both physical and virtual card options, providing flexibility.
- Global usability with Visa acceptance, ideal for international transactions.
- Offshore banking benefits, including tax-free solutions and advanced financial management.
- Strong customer support with real-time chat and email assistance.
Cons:
- Less transparent fee structure, requiring users to seek detailed information.
- More complex platform, which may require users to have a deeper understanding of its features to fully benefit from them.
Grineo Card Pros and Cons
Pros:
- Cheapest card on this list by every metric
- Excellent customer support
- Very easy to use
- Spend or cash out stablecoins instantly
- Tailor-made to the Australian audience
- High security with PassKey technology
- Works in every country in the world
Cons:
- Only supports USDT and USDC when it comes to spending, 2 less options than Ultimo
- Only available to Australian residents
Which Card is Best for You?
Choosing between the Spritz Card, the Ultimo Card, and the Grineo Card depends on your personal needs and goals.
If you prioritize ease of use, instant conversion of digital assets to fiat, and integration with digital wallets, the Spritz Card or Grineo Card may be the best choice. Spritz is compatible with more wallets, whereas Grineo has lower fees and and allows users to cash out from ATMs that support Visa cards.
If you’re interested in benefits such as offshore banking, the Ultimo Card might be more suitable. Its global acceptance and tax-free solutions cater to users with more complex financial needs, particularly those who travel frequently or need advanced financial management tools. However, potential users should be prepared to navigate its more complex fee structures and features, and to spend a lot more money on transaction fees and maintenance fees than the Grineo Card.
Download the Grineo App for iOS or Android now.
