Based Card

Based Card is the payment product of Based, an ecosystem built around a self-custodial wallet and Hyperliquid trading. The card uses a separate card account that can be funded with crypto and is available in several tiers with different FX rates, cashback and additional benefits.

The current supported funding options include USDT on Solana, USDC on Arbitrum and XSGD on Polygon, while selected assets from the Hyperliquid ecosystem can also be used. Based additionally allows HYPE and BASED to be transferred to the card account and converted when spent.

Stablecoins are spent first, followed by SOL, HYPE and BASED. The conversion rate for volatile assets is fixed at the moment of payment using market pricing rather than at the end of the settlement cycle.

Card tiers

The two currently available tiers are HYPE and Based Gold. Both include virtual and physical Visa cards and require users to stake BASED.

HYPE requires 10,000 BASED to be locked for 21 days. It offers 2% cashback with a $20 monthly cap, a 1.5% foreign-currency markup and up to $10 per month in rebates for eligible AI subscriptions. Shipping the physical HYPE card currently costs $50.

Based Gold requires a 100,000 BASED lockup. It offers 4% cashback with a $100 monthly cap and no additional FX markup above Visa's exchange rate. The tier also includes up to $20 per month in eligible entertainment rebates, up to $100 for selected AI subscriptions and four airport lounge visits per year. Physical Gold card delivery is included.

A third tier, Based Orange, is intended to work without a BASED lockup but has not launched yet. Its currently published terms specify a virtual-only card, no cashback and a 2.5% FX markup.

Cashback and subscription rebates are paid in BASED. Starting the unstaking process removes the card benefits even though the card itself can continue to be used.

Funding and fees

Based does not charge a deposit fee for supported stablecoins such as USDT, USDC and XSGD. There are also currently no signup or annual fees for the active card tiers; access is instead determined by the required BASED stake.

FX pricing depends on the card tier. HYPE adds a 1.5% markup, while Based Gold currently adds 0% above Visa's conversion rate. Small adjustments can still appear when a foreign-currency transaction is finally settled by Visa.

ATM withdrawals are not currently supported. Funds transferred into the card account also cannot currently be withdrawn directly back into the Based trading wallet, so the card balance should be treated separately from the self-custodial trading environment.

Custody and verification

The main Based wallet is self-custodial and users can export their private keys. The card, however, operates through a separate Visa card account and licensed third-party issuers.

For that reason, the card itself should not be treated as a purely non-custodial extension of the Based wallet. Crypto moved into the card environment is subject to the card program and issuer terms.

KYC is required. Applicants need a government-issued passport or national identity card, and approval normally takes up to several days.

Card availability is broad but not global. A long list of excluded jurisdictions currently includes the United States, Canada, Ukraine, Russia, Turkey, India, Singapore and several other markets.

How to get the Based Card

1. Download the Based app and complete KYC.

2. Stake the required amount of BASED for the selected card tier.

3. Receive the card promo code from the staking interface.

4. Apply for the card through the Based app.

5. Wait for KYC and card approval.

6. Activate the virtual card after issuance.

7. Order the physical card if supported by the selected tier.

8. Fund the card account with a supported crypto asset.