The promise of Bitcoin has always been grand: a decentralized, borderless digital currency that empowers individuals and transforms how we transact. But for all its revolutionary potential, Bitcoin still struggles with one fundamental issue — real-world usability. How do you spend Bitcoin at your local coffee shop or grocery store when most merchants don’t accept it?
Enter TenX, a Singapore-based startup aiming to bridge the gap between cryptocurrency and everyday spending. Their solution? A Bitcoin credit card — or more accurately, a Visa debit card that lets users spend their digital assets instantly, no matter the merchant’s preferred currency.
But while the idea sounds promising, experts like Fortune magazine argue that the market isn’t ready. Despite technical feasibility, widespread adoption faces significant hurdles. Let’s explore what TenX is doing, why it matters, and whether the world is truly prepared for crypto-powered cards.
How TenX’s Crypto Debit Card Works
TenX offers a Visa debit card linked to a multi-currency wallet that supports various digital currencies, including Bitcoin, Ethereum, and Litecoin. When a user makes a purchase, the system automatically converts the chosen cryptocurrency into a traditional fiat currency — such as USD, EUR, or JPY — in real time. The transaction then processes through the standard Visa network, invisible to the merchant.
This means you can walk into any store that accepts Visa and pay using your Bitcoin balance without the merchant needing to support crypto directly. From their perspective, it’s just another card swipe.
👉 Discover how crypto spending tools are evolving in 2025
Currently, TenX supports 8 major cryptocurrencies, with plans to expand to 11 by year-end. Each transaction incurs a 2% processing fee, which covers conversion and network costs. For average users, there's an annual spending cap of $2,000, though higher tiers may unlock increased limits.
According to company data, TenX already manages around $100,000 in monthly transaction volume** and has received over **10,000 card applications**. Their ambitious goal? Reach **$100 million in monthly transaction volume and attract 1 million users by the end of 2025.
The Challenges of Crypto-Backed Cards
Despite these impressive targets, early attempts at crypto-linked cards have struggled to gain traction. As Fortune pointed out, Xapo partnered with Visa back in 2014 to launch a Bitcoin debit card, and Coinbase introduced its own version called the Visa Shift Card. Yet neither achieved mass adoption.
So why haven’t these products taken off?
Lack of Consumer Incentive
Most people use credit or debit cards not just for convenience — but for rewards. Cashback, travel points, sign-up bonuses, and exclusive discounts drive consumer behavior. However, crypto cards like TenX’s offer no such benefits beyond enabling cryptocurrency spending.
For the average user, there’s little advantage to paying with Bitcoin instead of dollars unless prices are cheaper or rewards are better. And right now, they’re not.
Volatility Risk
Cryptocurrencies are notoriously volatile. Imagine buying a $50 meal with Bitcoin — only to find out hours later that the same amount of BTC would now be worth $70. That kind of price swing discourages practical use and turns spending into a speculative act rather than a routine purchase.
While TenX converts funds instantly at market rates, users still bear the risk of entering a transaction at an inopportune moment.
Niche Market Appeal
At its core, TenX serves a specific audience: crypto enthusiasts who want to use their digital assets in daily life. But this group remains relatively small. For mainstream adoption, crypto cards need to appeal to people who don’t care about blockchain technology — they just want a reliable, rewarding way to pay.
Until that shift happens, these products will remain on the fringes of financial innovation.
Why This Still Matters: The Bigger Picture
Even if mass adoption isn’t imminent, initiatives like TenX play a crucial role in advancing crypto usability. They demonstrate that integrating digital currencies into existing financial infrastructure is technically possible — and increasingly seamless.
Moreover, as more platforms explore real-time conversion, multi-asset wallets, and cross-border spending, the foundation is being laid for a future where holding crypto feels as natural as having cash in your bank account.
👉 See how next-gen financial tools are reshaping digital spending
And let’s not forget regulatory progress. Countries like Singapore and Switzerland have taken steps to create clear frameworks for crypto businesses, making it easier for startups like TenX to operate legally and securely.
Frequently Asked Questions (FAQ)
Q: Can I use a Bitcoin debit card anywhere?
A: Yes — anywhere that accepts Visa. The card converts your cryptocurrency into local currency at the point of sale, so merchants don’t need to accept crypto directly.
Q: Are there fees for using crypto debit cards?
A: Most services charge fees. TenX, for example, charges a 2% transaction fee. Additional costs may include ATM withdrawals, currency conversion spreads, or monthly maintenance.
Q: Is my money safe on a crypto debit card?
A: Security depends on the provider. Reputable companies use cold storage, encryption, and insurance to protect user funds. However, unlike traditional bank accounts, crypto holdings may not be FDIC-insured.
Q: Do crypto debit cards offer rewards?
A: Some do — though options are limited compared to traditional credit cards. A few platforms offer cashback in crypto or bonus tokens for spending.
Q: Why haven’t crypto debit cards gone mainstream yet?
A: Main barriers include lack of consumer incentives, price volatility, limited awareness, and regulatory uncertainty. Until these are addressed, widespread use remains unlikely.
Q: Will crypto spending become normal in the future?
A: It’s possible — especially as stability improves (e.g., via stablecoins), infrastructure matures, and user experience becomes simpler. The journey has started, but we’re still in early stages.
Final Thoughts: Innovation Ahead of Its Time?
TenX represents an important step toward making cryptocurrency practical for everyday life. By leveraging existing payment networks like Visa, they remove one of the biggest obstacles to crypto adoption — usability.
Yet as history shows, technical solutions alone aren’t enough. Consumer behavior changes slowly. People need reasons to switch — better rewards, lower costs, or stronger incentives.
For now, crypto debit cards remain a tool for early adopters and tech-savvy investors. But as financial ecosystems evolve and digital assets become more integrated into global economies, these innovations may eventually find their moment.
👉 Explore the future of digital finance and seamless crypto spending
Until then, startups like TenX continue pushing boundaries — proving that while the vision of spending Bitcoin at Starbucks might still be premature, it’s no longer science fiction.
Core Keywords: Bitcoin credit card, cryptocurrency debit card, TenX, spend Bitcoin, digital currency, crypto spending, Visa crypto card, real-time conversion