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Crypto credit cards are comparable to other credit cards in the market in that cardholders get cryptocurrency incentives for using the card to transact in the crypto market. Each crypto credit card operates and rewards cardholders differently, so it is critical to understand which crypto card is best for you.
Some crypto credit cards offer great reward rates and privileges, but you must be cautious and aware of the added hazards that come with earning crypto rather than USD. In this regard, if you’re looking for a crypto credit card, be sure to learn about the process for rewarding its cardholder. Some crypto credit cards need more steps than others, and some may be more advantageous depending on the sort of cryptocurrency holder.
Remember that crypto card balances, like regular credit card balances, must be paid off each month; failure to do so will result in additional interest or late fees. Furthermore, the use of crypto cards might have an impact on your credit score, and there may be additional fees (such as yearly and transactional fees) based on the terms and circumstances of the card you will obtain.
As any experienced trader knows, the cryptocurrency market is volatile and extremely reactive to various stimuli, allowing cryptocurrency rates to rise and decrease. Due to the extremely high stakes and security involved in handling cryptocurrency, you must also be familiar with the tax regulations and legislations imposed in the crypto market as a trader.
1. Crypto.com Visa Card
Pros
- Earn Rewards by spending
- Supports over 80+ cryptocurrencies
- Easy to turn crypto assets into spendable currency instantly
- No annual fee
- Free ATM withdrawals per month (with limit)
Cons
- It's a prepaid debit card, not a credit card
- Better rewards and perks requires higher stakes
FEES
No fees
REWARDS
WELCOME OFFER
N/A
CRYPTOS
80+
Aside from a broad range of functions, Crypto.com also provides a metal prepaid visa card – a credit card that can be used like any other credit card but uses a specific cryptocurrency rather than merely money. Users must have CRO tokens in their account to establish a Crypto.com visa card. Users can apply for the card through the smartphone app once CRO ownership is confirmed, and Crypto.com will mail it to them for free.
Crypto.com visa cards, on the other hand, are not limited to topping up with supported crypto coins. The website allows users to fund their accounts with over 20 different fiat currencies. In other words, users can load the card with both supported crypto tokens and fiat currencies, which can then be used in the same way as any other form of payment.
The program provides various card tiers based on the quantity of CRO tokens purchased and placed in the crypto wallet. Other than incentives, different tiers differ in several ways, such as the transaction for each level and the percentage of cashback received on both domestic and international spending. What stands out the most is that no matter what your tier is, Crypto.com credit cards are viable as an everyday credit card.
2. BlockFI Visa Card
Pros
- Earn 1.5% back in crypto on every single purchase
- Earn up to 10% back in crypto rewards at thousands of brands with BlockFi Offers
- Earn 2% back in crypto on every purchase over $30,000 of annual spend. The rewards rate increases from 1.5% to 2% after $30,000 of spend has been achieved and resets on the card anniversary date every year.
Cons
- Supports only 15+ cryptocurrencies
- Lacks bonus categories and option for real-time rewards
FEES
$0 Annual Fees, $0 Foreign Fees
REWARDS
1.5% Cashback
WELCOME OFFER
N/A
CRYPTOS
15+
BlockFi Visa card has a point-based reward system as the backbone of its cash-back program. It’s done as with each purchase, users gain points, which can be converted to any supported assets at the end of the month. However, due to the volatility of the market, this reward system may be either a disadvantage or an advantage.
The amount of crypto earned and the reward structure itself may not change, but as mentioned above, the crypto market is volatile. You might earn more rewards in the next month than the other or vice versa, even if the rewards stay the same. In other words, the amount of crypto earned will stay the same but its value will not.
3. Coinbase Visa
Pros
- Generous crypto rewards
- Ability to transform a crypto account into a spendable bank account
- Contactless payments
- Multiple and strict security features
Cons
- 2.49% cryptocurrency liquidation fee
- Coinbase account required
FEES
No Annual Fee, 2.49% Cryptocurrency liquidation fee
REWARDS
4% Cashback
WELCOME OFFER
None
CRYPTOS
8
Coinbase Visa is a crypto credit card that Coinbase, one of the biggest names in cryptocurrency, released in 2019. Just like its subsequent features, Coinbase Visa also has top-notch security not only safeguarded by the company’s transaction history, but users can also use the platform’s app to freeze their physical card from anywhere.
While not having as many as other crypto cards in terms of supported and compatible cryptocurrencies, Coinbase allows its customers to use any supported cryptocurrencies on the Coinbase exchange. In addition to that, users can also top up their card with fiat money, which can be set to withdrawal at any supported ATMs. With all of that, Coinbase Visa can subsequently be used as an “everyday” credit card due to its versatility.
4. Gemini Mastercard
Pros
- Earn rewards in Bitcoin or any crypto on Gemini and receive rewards in real-time
- No exchange fees to acquire your crypto rewards
- Earn up to 3% on dining, 2% on groceries and 1% on other purchases
Cons
- Only two bonus categories
- Crypto rewards are volatile and not as flexible as cash
FEES
REWARDS
WELCOME OFFER
None
CRYPTOS
60+
Gemini Mastercard is a reward-earning card that allows users to retain crypto rewards immediately after transactions, as opposed to conventional cards that earn cash back at the end of the month. This links user funds to the exchange rates at which the awards are redeemed. It’s both an advantage and a drawback since users get their rewards sooner, but it also means they have to keep the prizes at the rate they were when they were redeemed.
5. eToro Money Card
Pros
- Users can copy the crypto trading strategies of advanced users
- Platform offers an engaging communal experience
- Cryptocurrency holdings may be transferred off the platform
- Comprehensive educational resources
Cons
- Unconventional fee structure means you pay more on transactions upfront
- Limited customer service
FEES
$5 withdrawal fee, Inactivity fee
REWARDS
Up to 2% annual rewards
WELCOME OFFER
None
CRYPTOS
27+
eToro is one of the world’s major crypto platforms, offering a credit card with top-notch security and an easier way of a transaction when transferring funds. Furthermore, there are no additional setup fees or monthly fees associated with the credit card. Any eToro-certified user can apply for a credit card with no additional expenses.
In addition, eToro provides one of the best crypto wallets, which customers may utilize to safely store and manage their crypto funds which consumers may directly access using their card with a unique sort code and account number, making sending and receiving funds much easier.
6. Binance Visa Card
Pros
- Offers 8% cashback
- No issuance or monthly fees
- Convert crypto on demand
Cons
- Only available in Europe
- Balance in Binance’s cryptocurrency required for cashback rewards
FEES
0.9% Transaction fee and Withdrawal fee
REWARDS
WELCOME OFFER
None
CRYPTOS
12+
Binance Visa Card is a credit card under the biggest crypto trading platform – Binance. The card accepts BTC, BNB, ETH, SXP, and its own stablecoin, BUSD. The Binance Visa Card, like any other Visa card, may be used at over 60 million businesses in 200 countries and territories worldwide.
Its most notable feature is its cashback system, which offers consumers up to 8% return on qualifying transactions. Unlike other cash-back credit cards, however, Binance Card only rewards users in BNB, and the amount given is determined by how much BNB users currently possess in Binance. The cashback is available on a monthly or weekly basis. which can vary depending on which offer you select.
Any Binance verified user can apply for a Binance Card, which can be assessed on any of their platforms.
7. Nexo Mastercard
Pros
- Lets you spend while retaining your cryptocurrency
- Solid 2% cashback every transaction
- Can be used in stores that transact with Mastercard
- Virtual cards can be created for safer online shopping
Cons
- Can only be used by borrowers on the Nexo platform
- Still in the early access phase
FEES
No fees
REWARDS
2% cashback
WELCOME OFFER
None
CRYPTOS
17
Nexo Mastercard is a crypto-backed credit card provided by Nexo, a crypto lending platform, and Mastercard. One distinguishing characteristic of Nexo Mastercard is that it encourages its consumers to HODL their crypto assets. Because the Nexo Mastercard is linked to Nexo’s Instant Crypto Credit Lines, any spending is automatically removed from the available credit while maintaining your portfolio balance.
Furthermore, consumers have access to all of Mastercard’s features, and you no longer need to physically visit your local bank. The Nexo card is linked directly to the exclusive Nexo exchange and provides funds without the need for a bank transfer.
8. Celsius Credit Card (coming soon)
Pros
- CelPay is an easy-to-use funds transfer system
- Has $30 million in insurance for assets stored in the Celsius wallet app
- No fees for minimum balances, loan origination, or transfers
Cons
- Only a handful of coins and tokens available for purchase
- Does not have its own crypto exchange -- very limited trading via third-party vendors
FEES
Up to 3%
REWARDS
Up to 25% bonus rewards and CEL token holdings depending on the card tier
WELCOME OFFER
None
CRYPTOS
9
For the time being, the Celsius Credit Card is not available for purchase; however, keep an eye on their website to be notified when the credit card becomes available.
The note above is based on the network it is in and the mobile wallet it’s offering.
9. Wirex Visa Card
Pros
- Instant top-ups if you link your debit/credit card
- Earn up to 8% cash back rewards for all in-store purchases
- Commission-free trading and zero ATM fees (up to $250)
Cons
- Fewer perks than some of the competing crypto credit cards
- High fees for exchanging between crypto and fiat
FEES
No annual fee
REWARDS
8% Cashback
WELCOME OFFER
None
CRYPTOS
37
The Wirex Visa card is associated with the Wirex crypto exchange mobile platform. The card’s most noticeable feature is its high cashback rewards, which can reach up to 8% of each transaction. However, just like the majority of the crypto credit cards mentioned above, the crypto reward is distributed in their own kind of set points – X-points, which have a stable price of $0.01.
10. Upgrade Bitcoin Rewards Card
Pros
- No security deposit required
- Pay down balances at a fixed interest rate with equal monthly payments.
- No prepayment penalty, late fees or penalty APR.
Cons
- This card charges a 1.5% transaction fee to sell your Bitcoin for cash, which is deducted from the proceeds of your Bitcoin sale.
- Immediate interest charges
FEES
No annual fee
REWARDS
1.5% Unlimited Cashback in Bitcoin
WELCOME OFFER
None
CRYPTOS
N/A
Upgrade Bitcoin Rewards Visa Credit Card is a credit card issued by Sutton Bank and provided by Upgrade. It allows its customers to make a personal loan on the move, just like a credit card, allowing them to make purchases and then pay off the balance in monthly instalments for a specified length of time with a preset APR.
In addition, when consumers make their monthly payments, they will receive a 1.5 per cent cashback in the form of bitcoin. Though it has a lower reward rate than the optimal rate, it offers a consistent payout that can assist users to maximize every cent spent in a transaction, giving it both an advantage and a disadvantage.
What is a Cryptocurrency Credit Card?
Cryptocurrency Credit Card acts like a traditional credit card that allows the cardholder to enjoy rewards and perks in each transaction in the crypto market.
- Crypto cards often offer various features which include cash back rewards, tightened security, and the use of both fiat and crypto simultaneously in one card, etc.
- Crypto cards vary on what the platform offers, check below to get a grasp on how you would pick a crypto card.
How to Select the Best Crypto Credit Card?
Check the benefits, reward type and rate, supported cryptocurrencies, fees and limitations of the card before you apply for one.
- Benefits
- Different crypto cards implement their own benefits which can offer reduced transaction fees or a cashback grant.
- Reward type and rate
- Rewards vary on different crypto cards, though they are fundamentally the same in a sense, different implementations can cause advantages and disadvantages in comparison to each other.
- They have different reward rates which can vary from 1% to 10%, which users must know before setting up a crypto card.
- Supported Cryptocurrencies
- Check for the supported cryptocurrencies. Some credit cards may not have your desired crypto token, which could be a drag in terms of setting it up and knowing it too late.
- Fees
- Just like your typical credit card, you must check what the fees are and what you’re most comfortable with.
- Limitations
- Some credit cards may have maximum spending, transferring, and trading limits which may cause disturbances if overlooked.
Benefits of Crypto Credit Cards
Rewards
Various rewards for every purchase or top-up in the form of cryptocurrency
Accessibility
Some cards can be used for real-time spending
Entertainment
You can get up to 100% rebate for entertainment subscriptions like Spotify and Netflix
Spending Rewards
Up to 5% cashback for each purchase.
“Giving users the ability to convert and spend their crypto directly with merchants around the world, will make the crypto experience more seamless and applicable.”
Frequently Asked Questions
Where can I use a crypto credit card?
You can use your crypto credit card anywhere in the 40 million Point of Sale (POS) scattered around the globe and countless online retail shops that accept the type of card you have to maximize your spending ability and rewards.
What is a Crypto Reward?
What Can I Buy with a Bitcoin Debit Card?
Are Bitcoin Debit Cards Secure?
Bitcoin debit cards have robust security features to help secure and protect your funds.