Monolith Card

Monolith started in 2018 with a simple idea that most crypto cards still ignore: why should you trust an exchange with your funds just to spend them? They launched the Visa card in 2019, making them one of the true pioneers in self-custody spending. Your wallet is literally an Ethereum smart contract deployed on-chain. I remember setting mine up and checking Etherscan to verify - yes, my funds were right there, controlled by my keys alone. The team built this specifically for European users who wanted DeFi access without giving up ownership. Based in London, they focused on UK and EU markets from day one. The decentralized approach means no central database holds your crypto. When FTX collapsed, Monolith users slept fine knowing their ETH was safe in their own contracts.

The Monolith wallet is not just marketing speak - it genuinely runs as a smart contract on Ethereum mainnet. I verified my own contract address on Etherscan the first week I used it. Your private keys stay on your phone, and the contract only executes transactions you sign. What surprised me was the token whitelisting feature. You can set up a list of approved tokens and addresses, which adds a security layer against phishing attacks. If someone somehow got your device, they still could not drain funds to an unknown address. The DeFi integrations let you interact with protocols like Compound directly from the app. I have used it to earn interest on DAI while keeping my spending money accessible. Not as many integrations as a dedicated DeFi wallet like Zerion, but enough for basic yield strategies.

Here is something most reviews skip over - the TKN token actually serves a purpose beyond speculation. When you hold TKN in your Monolith wallet, you get discounts on the gas fees for card top-ups. Given that Ethereum gas can spike during busy periods, this matters more than you might think. I bought a small stack of TKN back in 2022 when gas was regularly hitting 100+ gwei. The savings were noticeable, especially since I top up my card weekly for groceries and transport. The token is not widely traded, which is both good and bad. Less liquidity means wider spreads if you want to buy or sell large amounts. But it also means less speculative volatility affecting the utility. You do not need TKN to use Monolith - it just makes the gas costs more bearable during network congestion.

Monolith built their service specifically for European users, and it shows. The card works across the EU and UK with no foreign transaction fees within Europe. I have used it in Germany, France, Spain, and Portugal without issues. Apple Pay and Google Pay integration means you rarely need the physical card. One thing that caught me off guard initially - the card is issued in GBP or EUR depending on your location. After Brexit, this created some complexity for UK users spending in the EU and vice versa. The currency conversion is handled at Visa rates, which are fair but not zero-cost. For fellow Europeans who travel frequently within the EU, this works well. The limits feel designed for everyday spending rather than large purchases. If you need to buy a car with crypto, look elsewhere. For coffee, dinners, and monthly bills? Monolith handles it fine.

The security model here differs fundamentally from centralized cards like Crypto.com. Your crypto never sits on Monolith servers. They cannot freeze your wallet funds because they do not control them. Only when you initiate a top-up do tokens leave your smart contract and move to their system for EUR/GBP conversion. I tested the recovery process after getting a new phone. The seed phrase backup restored everything correctly, including my token whitelist settings. The biometric authentication adds convenience without compromising the underlying self-custody model. One honest downside - if you lose your seed phrase, nobody can help you. There is no customer support reset option. This is the trade-off for true self-custody. For users coming from traditional banking, this responsibility can feel uncomfortable at first. But after using it for over two years, I appreciate that my funds cannot be frozen by a compliance department having a bad day.

No annual fee, no monthly fee, no card issuance fee. That already puts Monolith ahead of several competitors. The catch? Lower spending limits than centralized alternatives. Daily spending caps at 7,500 EUR and monthly at 20,000 EUR. For my usage pattern, this works fine. I mostly use it for daily expenses - groceries, restaurants, transit. The ATM withdrawal fee of 2% stings a bit. I avoid ATM use when possible, preferring to pay directly with the card. No foreign transaction fee within Europe is a genuine plus for travelers. The real cost you should watch is Ethereum gas. Top-ups require an on-chain transaction, and gas prices vary wildly. During the 2021 bull run, I paid over 30 EUR in gas for a single top-up. These days with layer 2 adoption reducing mainnet congestion, it is usually under 5 EUR. The TKN token discounts help here.

The rewards program is typically the biggest selling point for any crypto card, so I want to break down exactly what Monolith Card offers and whether the numbers actually make sense in practice.

Monolith Card offers a base cashback rate of 1%, which can go up to 1% depending on your card tier. Rewards are paid in crypto, which means your rewards can appreciate in value over time - or depreciate, depending on market conditions. On a monthly spending of about 2,000 dollars, you would earn roughly 20 dollars in rewards at the base rate. Not life-changing, but it adds up over a year.

Practical reward tips I have learned:

1. Check which merchant categories qualify for rewards (some cards exclude certain types)
2. Recurring bills like subscriptions are easy reward generators
3. Consider the tax implications of receiving crypto rewards in your jurisdiction
4. Compare the net reward after accounting for any annual or monthly fees
5. ATM withdrawals usually do not earn cashback

Comparing Monolith Card's reward structure to traditional credit cards: most premium credit cards offer 1-2% cashback, so crypto cards need to match or beat that to be competitive. Factor in that crypto rewards have price volatility - a 3% reward in tokens could be worth 6% or 1.5% a month later. This volatility is both the appeal and the risk of crypto card rewards.

Reward optimization strategies I have found useful:

1. Use the card for recurring bills (subscriptions, utilities, insurance) to passively accumulate rewards
2. Check if there are bonus reward categories that offer higher rates on specific spending
3. Time larger purchases to coincide with promotional reward boosts
4. Convert rewards to stablecoins if you want to lock in value without crypto volatility
5. Stack the card rewards with any platform-specific promotions or referral bonuses

One thing that catches new users off guard: reward calculations are based on the fiat value at the time of the transaction, not the crypto amount loaded. So if you load 500 dollars worth of ETH and the price drops before you spend, your reward is calculated on the actual purchase amount, not the original load. This also works in your favor if the price goes up. Understanding this timing aspect helps you plan your card loading strategy.

Fees can make or break a crypto card's value proposition, and Monolith Card has a specific fee structure you should understand before applying. I have gone through every charge so you know exactly what you are paying.

No annual or monthly fees is a strong starting point. It means the card does not cost you anything just to have in your wallet. Compare this to many premium credit cards that charge 100-500 dollars per year - with Monolith Card, you start at zero and only pay fees when you actually use specific features.

ATM withdrawals deserve special attention because the fees can add up quickly. With a fee of 2% per withdrawal, plus any fees the ATM operator charges, cash access is not cheap. My advice: use the card for direct purchases whenever possible and minimize ATM usage. If you need cash regularly, look for ATMs that do not charge additional fees.

Foreign transaction fees of 0% apply when you spend in a currency different from your card's base currency. For travelers, this is an important consideration. Some crypto cards have zero foreign transaction fees, making them excellent travel companions. With Monolith Card, factor this into your travel budget.

Costs most people overlook:

1. Currency conversion happens when you load crypto and spend fiat - check the spread
2. Inactivity fees may apply if you do not use the card for extended periods
3. Replacement card fees if you lose or damage your card
4. Expedited shipping fees if you want faster card delivery
5. Some merchants may code transactions differently, triggering unexpected fees

The conversion spread is the sneakiest cost. When you load crypto and spend in fiat, the exchange rate applied often includes a 0.5-2% markup over the market rate. This is not listed as a fee anywhere, but it effectively reduces the value of every dollar you spend. Over a year of regular use, this spread can add up to more than all the explicit fees combined. Check your transaction history to see what rate was applied versus the market rate at the time.

My fee minimization strategy with crypto cards:

1. Load with stablecoins to avoid crypto-to-fiat conversion volatility
2. Use the card primarily for larger purchases where the convenience justifies any fees
3. Avoid ATM withdrawals unless absolutely necessary
4. Monitor the conversion spread and load when rates are favorable
5. Compare the total cost (fees + spread) against your regular bank card to ensure the crypto card actually saves you money or earns enough rewards to offset the costs

Using Monolith Card for everyday purchases is the real test of any crypto card. Marketing specs are one thing, but how it actually works at the checkout counter is what matters. I have been using it for regular spending and here is my experience.

Monolith Card supports Apple Pay, Google Pay and contactless tap-to-pay, which covers pretty much every modern payment scenario. I use mobile payments for about 80% of my in-store purchases now, and the card works exactly like any traditional bank card in these wallets. Tap your phone, transaction approved, done. No one at the register knows or cares that you are spending crypto.

You get both a virtual card (available immediately after approval) and a physical card shipped to your address. The virtual card is great for online shopping while you wait for the physical card to arrive. I started using the virtual card for subscriptions and online orders within minutes of signing up.

Where it works well:

1. Grocery stores and supermarkets - works just like any other card
2. Online shopping - enter your card details as you would any Visa or Mastercard
3. Restaurants and cafes - contactless payments are quick and easy
4. Subscriptions - Netflix, Spotify, and similar services accept it without issues
5. Gas stations - though some may place a temporary hold on your balance

Where I have run into issues:

1. Some merchants treat prepaid cards differently and may decline them
2. Car rental companies and hotels sometimes require a credit card, not prepaid
3. Automatic payments that exceed your loaded balance will fail
4. Some online merchants flag crypto card BIN numbers for additional verification

For international use, Monolith Card works across borders, but keep the foreign transaction fee in mind. I have used it in multiple countries and it has been accepted everywhere that takes the card network (Visa/Mastercard). ATM access abroad works too, though the combined fees of ATM withdrawal plus currency conversion can be steep.

Loading your card is something you will do regularly, and the process matters. Some cards require you to manually convert crypto to fiat before spending, while others handle the conversion automatically at the point of sale. Auto-conversion is more convenient but you have less control over the exchange rate. Manual conversion lets you choose when to sell your crypto but requires more active management. Check which model Monolith Card uses and whether it fits your preferences.

The day-to-day experience is honestly unremarkable - and I mean that as a compliment. A crypto card should feel invisible. You load it up, you spend, and you do not think about the blockchain technology underneath. Monolith Card achieves this for most common purchase scenarios. The transaction notifications show up on your phone like any other banking app, and the balance updates in real time.

Many crypto cards offer tiered benefits based on how much you stake or your account status. Here is how Monolith Card's tier system works and which level makes the most sense for different spending patterns.

Card tiers overview:

The entry-level tier is the obvious starting point if you want to test the card without committing significant capital. The mid-tier usually offers the best value-for-money ratio - you get meaningfully better rewards without the massive stake requirement of the top tiers.

Top-tier cards often come with premium perks like airport lounge access, higher ATM limits, and exclusive benefits. But the staking requirement can be substantial. Before committing, calculate whether the extra rewards you would earn justify locking up that much capital. In many cases, the mid-tier is the sweet spot.

My tier selection advice:

1. Start with the lowest tier to test the card with minimal commitment
2. Calculate your monthly spending to see which tier's rewards cover the staking cost
3. Consider token price risk - staked tokens can lose value
4. Higher tiers only make sense if you would hold the tokens anyway
5. Do not overextend into a tier just for the perks

The tier system rewards loyalty and bigger spenders, but it is not a requirement to get value from Monolith Card. Even at the base level, you get a functional crypto-to-fiat spending card, which is the core utility. Perks and rewards are a bonus on top.

Should you upgrade tiers? I run a simple calculation: multiply the additional cashback percentage by your estimated monthly spending, then multiply by 12 to get annual rewards. Compare that to the value of the tokens you need to stake (and the opportunity cost of locking them up). If the rewards exceed 5-10% of the staking amount annually, the upgrade makes financial sense. Below that threshold, your money might earn better returns elsewhere.

Getting your hands on the Monolith Card involves an application process that varies in complexity depending on your location and the card tier you choose. Here is what to expect from application to first purchase.

Step 1: Sign up on the platform. If you do not already have an account with the issuer, you will need to create one. This is standard - email, password, basic personal information.

Step 2: Complete identity verification (KYC). You will need to provide a government-issued ID and possibly a selfie or proof of address. KYC verification typically takes 1-3 business days, though I have seen it happen in under an hour during off-peak times.

Step 3: Apply for the card. Select your preferred card tier and submit the application. If staking is required, you will need to acquire and stake the necessary tokens before your card is issued.

Step 4: Wait for delivery. Physical card delivery usually takes 1-3 weeks depending on your location. Some issuers offer virtual cards that you can start using immediately while waiting for the physical card.

Step 5: Activate and load. Once you receive your card, activate it through the app, load some funds, and you are ready to spend.

Monolith Card is currently available in UK and EU. Availability can change, so check the official website for the most current list. If your country is not supported, you might be able to join a waitlist.

The whole process from application to first purchase took me about 10 days, with most of that time being card shipping. The KYC was approved in about 24 hours. If you go with a virtual card first, you could be spending crypto as fiat within a day of applying.

Common application issues and how to avoid them:

1. Blurry ID photos are the top reason for KYC rejection - use good lighting and hold steady
2. Make sure the name on your ID matches the name on your account exactly
3. Proof of address must be recent (usually within 3 months)
4. VPN usage during application can trigger additional verification
5. If your country is restricted, using a VPN will not help and may get your account banned

After activation there are a few settings worth configuring immediately. Enable transaction notifications so you see every charge in real time - this helps you catch unauthorized use quickly. Set up spending limits if the option is available. And link the card to Apple Pay or Google Pay right away so you can start using it contactlessly without waiting for the physical card.

After testing Monolith Card for everyday purchases over several weeks, I have a clear picture of who benefits most from this card and who should consider alternatives.

Best suited for:

1. Crypto holders who want to spend their assets without selling on an exchange
2. People who prefer credit flexibility over traditional banking
3. Users already on the issuer's platform who want to consolidate services
4. Travelers who want a Visa card that works internationally
5. Anyone looking to earn crypto rewards on everyday spending

Not the best fit for:

1. Users who need to build credit history (prepaid cards do not report to bureaus)
2. People uncomfortable with crypto price volatility affecting their spending power
3. Those who prefer traditional banking protections like chargeback rights
4. Users in countries where the card is not available
5. High-volume ATM users due to withdrawal fees

The fundamental question is whether you have crypto you want to spend as fiat. If the answer is yes, and Monolith Card is available in your country, it is worth trying. If you primarily deal in fiat and would need to buy crypto just to load the card, a traditional cashback credit card probably makes more sense.

One thing I appreciate about the Monolith Card is how it normalizes crypto for everyday spending. You are not making a statement or dealing with merchant adoption issues - you are just using a regular Visa card. The crypto part happens in the background, which is exactly how it should work for mainstream adoption.

Before you decide, take stock of your actual spending habits. Track your monthly card spending for a month and calculate what you would earn in rewards with Monolith Card versus your current card. Factor in any fees, the conversion spread, and any staking requirements. If the numbers work in your favor, the card is worth getting. If they do not, there is no shame in sticking with a traditional bank card and buying crypto separately. The best financial tool is the one that actually makes you money, not the one with the coolest branding.

Security features on a crypto card deserve serious attention because you are essentially carrying a gateway to your crypto holdings in your pocket. Here is what Monolith Card offers to keep your money safe.

Available security features:

1. Chip and PIN protection for in-store purchases
2. Instant card freeze/unfreeze from the app
3. Two-factor authentication for account access
4. Biometric authentication (fingerprint/face) for the app

The instant card freeze feature is one I actually use regularly. Whenever I am not actively planning to spend, I keep the card frozen. This means that even if someone steals the card number, they cannot make purchases. It takes about two seconds to unfreeze when I need it. This habit has given me peace of mind, especially when using the card online where data breaches are a real risk.

Transaction alerts should be enabled immediately after activation. Getting a push notification for every charge lets you spot unauthorized transactions within seconds rather than discovering them on your next statement review. The faster you catch fraud, the easier it is to resolve.

Online shopping security is an area where crypto cards sometimes have an advantage. Since most crypto cards are prepaid, your liability is limited to whatever balance is loaded on the card. Unlike a credit card connected to a credit line, a compromised prepaid card can only lose what is currently loaded. I keep a low balance for everyday use and only load more when making planned purchases.

One concern specific to crypto cards: if your account on the issuing platform is compromised, an attacker could potentially load your crypto onto the card and spend it. This is why platform-level security (strong password, 2FA, withdrawal whitelists) is just as important as card-level security.