SORA Card vs. Other Crypto Cards and Wallets
A Comparison Between SORA Card and Other Crypto Card Solutions
Fri, Sep 30, 2022
When designing the SORA Card solution, everyone involved was focused on delivering a unique product that stands out against the crypto card crowd and stays true to the SORA values of freedom, decentralization, self-custody and ownership, growth, as well as privacy.
While most crypto cards focus on selling and spending Crypto in the fiat economy, we strive to provide a more expansive banking-style experience through SORA Card.
Every card program applies a distinct business model and has diverse features, therefore it is challenging to make a clear comparison between all of the crypto-powered cards and banking apps currently on the market. However, below is an overview comparing some selected features that you, as the community, pointed out as the most important features SORA Card should include.
| Card | Binance Card | Crypto.com | Choise | Revolut | SORA Card |
|---|---|---|---|---|---|
| Card Currency | EUR / USD / GBP | EUR / USD | EUR | Multi-currency | EUR live USD (Q1’25) |
| Fiat Wallet Currency | Card is not linked to a fiat wallet | EUR / USD | Card is not linked to a fiat wallet-IBAN wallet in app is EUR | +30 currencies | +20 currencies (Q4’24) |
| Account Linked to Card | Crypto Account | Fiat Account | Crypto Account | Fiat Account | Fiat Account |
| Card Type | Debit Auto-conversion | Debit Top-up | Debit Тор-up | Debit Top-up | Debit Top-up |
| Crypto Wallet Type | Custodial | Custodial | Custodial | Custodial | Self-custodial |
| Apple Pay & Google Pay | Yes | Yes | Only Apple Pay | Yes | Yes |
| Who Possesses My Assets? | Binance (Crypto) | Crypto.com (Crypto) + IBAN provider (Fiat) | Choise (Crypto) + IBAN provider(Fiat) | Revolut (Crypto + Fiat) | YOU (Crypto) + IBAN provider (Fiat) |
| Who Possesses My Personal Data? | Binance + IBAN provider | Crypto.com + IBAN provider | Choise + IBAN provider | Revolut | YOU + IBAN provider not SORA |
| Exchange Type | Centralized | Centralized | Centralized | Centralized | Decentralized (Crypto↔Crypto) + Centralized (Crypto↔EUR) |
| Cash Withdrawal Limit | EUR 290 per day | EUR 5000-10000* per day *Depends on card | EUR 500 per day / EUR 2,500 per month | EUR 3,000 per day | EUR 5,000* per day |
| Spending Limit | EUR 8,700 per day | EUR 25,000 per day | EUR 10,000 per month | No spending limit / Max. 50 transfers per 24h | EUR 25,000* per day |
| Top-Up Limit | Auto-conversion spending limit EUR 8,700 per day | EUR 25,000 per month | EUR 5,000 per day 60,000 per month | No crypto top-up enabled | EUR 25,000 per day* |
| Top-Up Options | Crypto — Autoconversion | Crypto — top up for spending only, no fiat off ramp | Crypto + Fiat bank transfer | Fiat: bank transfer, credit card, debit card | Crypto + fiat: bank transfer, credit card, debit card |
| IBAN | No | Yes | Yes | Yes | Yes |
View the comparison table as PDF: /pub/sora-card-table-alt.pdf
SORA Card’s goal is to provide users access and ownership over their crypto and fiat assets, all in one place!
As you can see in the above table, banking features such as IBAN functionality, FX, SEPA transfers, multiple fiat currencies, etc., make SORA Card stand out against the fiat options available from other crypto apps and cards. At the same time, through integration with XOR and the Polkaswap DEX, you will have access to tokens from multiple EVM chains, and all of the Kusama and Polkadot Parachains, as well as other Substrate tokens.
The SORA card offering will only continue to improve, and through further developments within the fiat and crypto wallet, as well as DEX integrations, users can expect SORA Card to be packed with exciting new features in the near future.
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