As long-time followers of this blog will know, I am trying to live my life on the Bitcoin standard. I believe you should not work for what someone else can print, and although there is incredible volatility in Bitcoin, over the long run it's the best foundational asset to be all in on. That's why yesterday I started using the Kraken card for all of my day-to-day spending and moved some of my freelance payments and extra income to be received there directly. This is a big change because they actually have a bank account with my name on it, whereas Strike does not have that yet in the UK. I very much look forward to seeing how this works, especially given the spread.
The Search is Over
For a long time, I've been looking for a card that can genuinely replace a high street bank. Something I can receive my salary into, spend from daily, and actually live on. Most options fall short - either you can't receive deposits easily, or the fees eat away at everything.
I've tried Revolut, but the spread was painfully wide, especially on the main app. Not ideal when you're trying to minimise costs.
Then I found the Kraken Card. It ticks the boxes: UK bank account, direct salary deposits, and - crucially - 1% cashback on everything.
Day 1: First Impressions
I started with £750 on the card. My first test purchase? A coffee. Very original, I know - but you have to start somewhere.
The UI is slightly clunky, I'll be honest. It's not the slickest app out there. But it's functional, and it's improving.
The Math So Far
Here's the reality of using a crypto card day-to-day:
- Spread: Around 2%
- Cashback: 1%
- Net cost: ~1%
With Bitcoin where it is right now - at a very reasonable price - that's actually a pretty good deal. And once the physical card arrives (the virtual one is working fine for now), it'll be even smoother.
Why Now?
Honestly, I think this is a particularly good time to be doing this. The price is attractive, and the infrastructure is finally here. Cards like this make it possible to spend your BTC anywhere that accepts Visa.
My theory? As Bitcoin continues to appreciate, life on the standard will become progressively cheaper in fiat terms. The earlier you start, the more you benefit.
What's Next?
I'm moving my subscriptions over to the Kraken card - they all earn 1% cashback. Next, I'll start directing more of my income here. The goal is simple: eventually, everything runs through this account.
I'll be documenting this journey - the wins, the hiccups, and everything in between. If you're curious about how to make Bitcoin part of your everyday life, follow along.
Today's BTC price: £49,289 GBP
Also subscribe to my Substack for more updates: liveonbtc.substack.com
Ready to start your own Bitcoin journey? Calculate your Bitcoin savings or find your freedom date.