Ledger CL Card
The Ledger CL Card (Crypto Life Card) is a Visa prepaid debit card tailored for users of Ledger hardware wallets who want to spend crypto without relinquishing self-custody. Integrated directly with Ledger Live and compatible crypto wallets, it allows crypto-to-fiat conversion at the point of sale and supports both physical and virtual cards. Users can earn modest cash back and access crypto-backed loans, with coverage limited to the UK and EU/EEA. The card is best suited for those prioritizing Ledger integration and control over their assets.
- Type: Visa prepaid debit card
- Key Feature: Seamless self-custody to spending flow via Ledger hardware wallet integration
- Availability: UK and European Economic Area (EEA) only
- Standout Benefit: 1–2% cashback plus direct Ledger wallet integration
- Biggest Downside: High crypto-to-fiat conversion fees (~2.25%) can offset rewards
Card Tiers
Detailed Summary
Ledger CL Card Visa Debit: Self-Custody Crypto Spending With Integrated Ledger Wallet Support
Quick Summary
Key Features
- Visa debit card with seamless integration to Ledger hardware wallets
- Crypto-to-fiat conversion at point of sale with assets remaining in self-custody until spent
- 1% cashback in BTC/USDT or 2% in BXX token on all purchases
- Crypto-backed credit lines ("Cryptodraft") and stablecoin loans ("Stableloans")
- Supports Apple Pay and Google Pay for contactless payments
Main Advantages
- True self-custody until moment of spending (requires Ledger device approval)
- No monthly fees with simple single-tier system
- Direct integration with Ledger Live, MetaMask, and 1inch
- Available as both physical and virtual card options
- Competitive cashback rates compared to some other crypto cards
Notable Limitations
- Only available in UK and European Economic Area
- High conversion fees (~2.25% total) that significantly offset cashback benefits
- €10 one-time issuance fee for physical card
- Recurring payments and pre-authorizations not supported
- Limited customer support according to user reports
Table of Contents
Basic Information
| Specification | Details |
|---|---|
| Card Name | Ledger CL Card (Crypto Life Card) |
| Card Network | Visa |
| Card Type | Prepaid debit card |
| Launch Date | Available as of 2024/2025 |
| Card Issuer | Baanx in partnership with Ledger; powered by Baanx's e-money platform (Monavate in EU/UK) |
| Card Format Options | Both physical and virtual cards available |
| Mobile Wallet Support | Google Pay and Apple Pay |
| Merchant Acceptance | Accepted wherever Visa is accepted |
| Card Design | Standard matte black Visa card design |
The Ledger CL Card bridges the gap between cryptocurrency holdings and everyday spending, allowing users to maintain control of their digital assets until the moment of spending. The card integrates directly with Ledger's hardware wallet ecosystem through Ledger Live, as well as with MetaMask and 1inch.
Rewards and Benefits
Cashback Program
The Ledger CL Card offers a straightforward cashback structure:
- 1% cashback in Bitcoin (BTC) or Tether USD (USDT) on all purchases
- 2% cashback if rewards are taken in Baanx's native token (BXX)
- Rewards are paid monthly into the user's CL account
There are no staking requirements to earn the base cashback rates, though holding BXX tokens may provide enhanced benefits.
Lending Features
The card provides unique financial services beyond typical spending capabilities:
- Cryptodraft: Crypto-backed credit lines allowing users to access fiat without selling their crypto
- Stableloans: Stablecoin-based loans available at rates starting from 0% APR for qualified users
- Both lending services use cryptocurrency as collateral, providing liquidity without forcing users to exit their positions
No specific referral program was mentioned in the source material.
Fees and Limits
| Fee Type | Amount |
|---|---|
| Card Issuance | €10 one-time fee |
| Monthly Fee | None |
| Crypto-to-Fiat Conversion | 2% flat fee + ~0.25% sell-side spread (total ≈2.25%) |
| Domestic ATM Withdrawals | €3 fixed fee per withdrawal (plus conversion fee) |
| International ATM Withdrawals | €3 fixed fee + 1.5% FX surcharge (Mastercard adds ~1%) |
| Foreign Exchange Surcharge | 1.5% when POS currency differs from card wallet currency |
| Balance Enquiry at ATM | €0.35 |
| Inactivity Fee | None |
| Replacement Card | €9.95 (EU pricing, 2025) |
| Limit Type | Amount |
|---|---|
| Default Daily POS Spend | €15,000 per calendar day |
| Default Daily ATM Cash | €2,000 |
| Minimum ATM Withdrawal | €100/£100 |
| Initial Cap | €/$ 1,000 total until extra proof-of-funds is approved |
| Large Transaction KYC Trigger | ≥€10,000 (single top-up or withdrawal) prompts manual review |
All fees are deducted in fiat after the crypto-to-fiat conversion, meaning that conversion fees compound with any fixed charges. Users should note that limits can be raised once enhanced-due-diligence is completed, with users reporting upgrades to €20,000+ after supplying additional documentation like bank statements.
Card Tiers and Options
| Specification | Standard Tier (Only Tier Available) |
|---|---|
| Issuance Fee | €10 one-time fee |
| Monthly Fee | None |
| Card Material | Plain matte black Visa debit card |
| Delivery Method | Physical card shipped by mail (timing unspecified); virtual card available instantly |
| Cashback Rate | 1% in BTC/USDT or 2% in BXX token |
| Special Features | Crypto-backed credit lines ("Cryptodraft") and stablecoin loans ("Stableloans") at rates from 0% APR for qualified users |
| Limitations | No recurring payments/pre-authorizations, gas station holds and standing orders will fail |
The Ledger CL Card offers a single-tier system with no premium options. All cardholders receive the same features with the same fee structure. The card functions as a prepaid debit card, requiring funds to be loaded before use.
Top-Up Methods
Users must pre-load the Ledger CL Card by transferring supported cryptocurrencies (BTC, ETH, USDT, USDC, BXX, XRP, LTC, EURT) from their self-custody wallets (Ledger Live, MetaMask, or 1inch) through the dedicated CL app or Ledger Live. During top-up, funds move from the user's external wallet into a dedicated card balance under the provider's custodial control, requiring the user to approve the transaction with their Ledger device—assets are no longer in self-custody once transferred. The selected crypto is instantly converted to fiat (GBP, EUR, or USD) at market rates, with a ~2.25% conversion fee applied to each top-up. Top-ups are subject to limits: default daily POS spending maximum is €15,000, with larger single transactions (≥€10,000) triggering enhanced KYC review; a €1,000 cap exists until extra proof-of-funds is supplied. Funds become available as soon as the crypto-to-fiat conversion is complete, usually within minutes, but there is no on-demand spending from self-custody—pre-loading is always required.
Self-Custody True Self-Custody
This card lets users keep their crypto in their personal Ledger hardware wallet or another supported self-custodial wallet until the moment they choose to spend. When making a purchase, the required amount of crypto is converted to fiat currency in real time, following explicit authorization on the user's Ledger device. At no point prior to spending does the platform take control of users' funds or private keys; full self-custody is preserved until transactions are approved. Even if the card provider went out of business, users would still have access to their crypto through their wallets. This approach maximizes user control and security, though it requires users to approve each transaction, which can be less convenient than fully custodial cards. The main tradeoff is potentially higher fees at the point of conversion and limited features such as a lack of recurring payment support.
Supported Currencies and Conversion
Cryptocurrencies
- Bitcoin (BTC)
- Ethereum (ETH)
- EURT (Tether EUR)
- XRP (Ripple)
- Litecoin (LTC)
- Tether USD (USDT)
- USD Coin (USDC)
- Baanx token (BXX)
Fiat Currencies
- British Pound (GBP)
- Euro (EUR)
- US Dollar (USD)
Crypto-to-fiat conversions occur instantly at point of sale. The conversion process includes a fee of approximately 2.25% total (2% flat fee plus approximately 0.25% sell-side spread). All three supported fiat currencies (GBP, EUR, USD) are available in the user's account.
Geographic Availability
Supported Regions
- European Economic Area: All EU member states (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden)
- Additional EEA Countries: Norway, Iceland, Liechtenstein
- United Kingdom
Restricted Regions
The Ledger CL Card is currently not available outside of the UK and EEA. This includes the United States, Canada, Australia, most of Asia, Africa, and all other countries worldwide.
Compliance and Security
Custody Model
The Ledger CL Card offers a unique custody approach:
- Users fund the card by transferring crypto from their own wallets
- Until purchase, crypto remains in the user's self-custody
- Transactions on Ledger Live require approval with a Ledger device
- Once loaded, assets are held in safeguarded accounts (segregated under Monavate's scheme)
Regulatory Framework
- EU/EEA users: Card accounts issued and held at UAB Monavate (Lithuania)
- UK users: Accounts held at Monavate Ltd (UK, FCA #901097)
- Baanx Group holds UK/EU EMI licenses and a UK credit-broking license
- The company is preparing for upcoming EU crypto-asset (CASP) license under MiCA
Identity Verification
- Users must be 18+ and complete identity verification (ID, proof of address)
- Proof of funds may be required for large deposits
- All new customers undergo AML/KYC checks
Security Features
- Hardware-based authorization via Ledger's secure BOLOS OS acts as 2FA
- Sensitive data is encrypted
- No crypto keys or fiat balances are pooled with general corporate assets
There is no third-party insurance for crypto balances. Funds in e-money accounts are "safeguarded" per regulatory requirements but not covered by UK FSCS or EU investor protection schemes.
Technical Details
The Ledger CL Card integrates directly with multiple wallet systems:
- Native integration with Ledger hardware wallets via Ledger Live (desktop and mobile)
- Compatible with MetaMask wallet
- Compatible with 1inch decentralized exchange aggregator
- Supports Google Pay and Apple Pay for contactless mobile payments
The card's technical architecture maintains crypto in self-custody until the moment of spending, leveraging Ledger's secure hardware authentication system. When a transaction is initiated, the crypto is converted to fiat at the point of sale, allowing for real-time spending of digital assets.
The card also offers technical capabilities for crypto-backed lending through its Cryptodraft and Stableloans features, which utilize smart contract functionality to secure assets while providing liquidity.
User Experience
The Ledger CL Card is managed through either:
- The dedicated Crypto Life (CL) app
- Directly in Ledger Live (available on both mobile and desktop)
The interface guides users through KYC verification, card ordering, and top-up processes. Support is available through:
- Email: support@cl-cards.com
- In-app chat in the Crypto Life app
- Online documentation and FAQs
User feedback has been mixed:
- Positive: Smooth setup and delivery (physical cards arriving in ~1-2 weeks), appreciated cashback rates, and tight Ledger integration
- Negative: High fees/spreads (effective ~4-6% mark-up in some cases), card showing as generic "prepaid card" in wallets like Curve, and slow or absent customer support
Common limitations in the user experience include:
- Recurring payments and pre-authorizations are not supported
- Gas station holds and standing orders will fail
- The card functions as a prepaid debit card, declining authorizations if funds are not preloaded
Best Suited For
- Existing Ledger hardware wallet users who want to spend crypto without compromising on security
- Self-custody advocates who prefer keeping control of their assets until the moment of spending
- Occasional crypto spenders who value integration over absolute fee efficiency
- European crypto holders looking for a regulated spending solution with cashback
- Long-term hodlers who want access to fiat liquidity without selling their crypto positions
Pros and Cons
Pros
- True self-custody until the moment of spending, providing enhanced security
- Seamless integration with Ledger's hardware wallet ecosystem
- Competitive 1-2% cashback rates without staking requirements
- No monthly fees with simple single-tier system
- Unique crypto-backed lending features not commonly found on crypto cards
Cons
- High conversion fees (~2.25%) significantly erode the cashback benefits
- Limited to UK and European Economic Area residents only
- No support for recurring payments or pre-authorizations
- Relatively limited cryptocurrency selection compared to some competitors
- User reports indicate customer service issues and account freezes
Conclusion
The Ledger CL Card offers a compelling solution for Ledger hardware wallet users seeking to spend their cryptocurrency without fully exiting their positions. Its primary strengths lie in its seamless integration with the Ledger ecosystem, providing a bridge between self-custody and real-world spending. The card's 1-2% cashback program and unique crypto-backed lending options add further value for users committed to the platform.
However, potential users should carefully consider the card's limitations. The relatively high conversion fees (approximately 2.25% total) significantly erode the cashback benefits, potentially resulting in net costs rather than rewards for frequent users. Geographic restrictions limit the card to UK and EU residents, leaving many global crypto enthusiasts without access.
The Ledger CL Card is best suited for existing Ledger hardware wallet users in eligible regions who prioritize security and ecosystem integration over absolute cost-efficiency. Those who value having their crypto remain in self-custody until the moment of spending will appreciate this feature, while users frequently converting large amounts might find the conversion costs prohibitive.
Additional Information
Security Incidents
No known serious hacks have affected the CL Card or Ledger's integration. A 2023 user claim of leaked support emails was investigated, with Baanx's partner confirming no data breach occurred. However, as with any crypto service, phishing scams pretending to be CL support have been reported.
Reliability Reports
Aside from complaints about fees and customer service, there have been no widespread reports of the card failing to work at merchants or ATMs. It generally functions like any Visa debit card once funded.
Merchant Category Restrictions
The card acts like a prepaid debit card and declines authorizations if funds are not preloaded. This makes it unsuitable for transactions that require pre-authorization holds or recurring payments.
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