Updated August 07, 2022 – The world is becoming increasingly digital. This includes our spending habits, Our team monitors the cryptocurrency industry’s developments and keeps an eye on new product launches and trends. The crypto rewards credit card is a new trend that is rapidly gaining popularity.
Consumers are increasingly interested in earning rewards with crypto cards as they become more readily available. The crypto credit card works in the same way as traditional credit cards except that it sources funds and pays rewards with digital currency like Bitcoin. You still have the option to spend as you wish but with higher rewards via cryptocurrency thanks to popular card networks such as Mastercard and Visa.
We regularly review and analyze many factors in order to find the best cryptocurrency credit cards. This includes the rewards structure, as well as associated pricing and fees, crypto options, payment methods, and exchange options. Cryptocurrencies are a hot topic right now, and with good reason.
They are a revolutionary way to think about money and revolutionize how you do business.
It’s easier than ever to invest in cryptocurrency with so many trading platforms and crypto exchanges.
To keep track of your trades, you can use portfolio trackers. They (hopefully!) provide a greater return on your initial investment. This is where crypto credit cards come in.
These cards allow you to use your cryptos as regular currency and offer a number of benefits that traditional credit cards don’t.
This article will review and rank the top crypto credit cards, based on their benefits and drawbacks. Here are some tips to help you choose the right card for you. Let’s get into the details.
What Are The Best Crypto Credit Cards?
The following are the best crypto credit cards on the market today.
1. BlockFi Rewards Visa® Signature Card
Official Website: https://blockfi.com/credit-card/
|Offer||Earn 3.5% crypto rewards on all purchases in the first 90 days of card ownership, up to $100 in crypto|
|Recommended Credit||Excellent/Good Credit|
|APR||14.99% – 24.99%|
|Annual Fee||No Annual Fee|
|Intro Purchase APR||N/A|
|Reward Rates||Earn 1.5% back in crypto on every single purchase|
Features of BlockFi Rewards Visa® Signature Card
>Earn 2% back in crypto on every purchase over $50,000 of annual spend.³
>You can find out if your credit score has been affected by being approved. Before you accept the credit card offers, a soft credit pull is performed. When you accept your credit card offer, a hard credit pull is performed. This can impact your credit score.
>BlockFi Rewards Visa Signature Card gives you instant access, in addition to the other benefits, to exclusive travel, wine, food, sporting events, and shopping.
>Your BlockFi Rewards Visa Signature Card includes 24/7 access to your Visa Signature(r), Concierge* for assistance with booking travel, accommodation, tickets, event tickets, and even restaurant reservations.
>No annual fee
>No foreign transaction fees
2. Coinbase Visa Crypto Credit Card
Official Website: [https://www.coinbase.com/card]
Coinbase was founded in 2012. It is one of the most well-known digital currency exchanges around the world. The Coinbase Card allows cardholders to spend cryptocurrency wherever Visa is accepted. We chose it because of its support for multiple currencies and ease-of-use currency conversion. It also offers top-notch security.
The Coinbase Card can support up to nine cryptocurrencies including Bitcoin, Ethereum, and Litecoin. Cardholders must have a Coinbase Account. You don’t have to maintain a fiat currency account. The card converts your favorite cryptocurrency automatically in your Coinbase wallet.
Coinbase Card offers many security and convenience features including a mobile wallet, two-factor authentication, instant card freeze, spending tracker, and much more. The cardholder can make in-store and online purchases, and withdraw cash at any Visa ATM around the globe.
For a Coinbase card, residents of Europe and the U.K. must pay a 4.95 EUR or PS4.95 EUR issuance fee. U.S. residents are eligible for the card at no cost. Coinbase charges several fees, including a 2.49% liquidation fee.
Features of Coinbase Visa Crypto Credit Card
- For easy tracking and spending, your Coinbase Card can be connected to your Coinbase Account.
- You can add extra security to your card with a two-step verification
- You can use your Coinbase card at any Visa merchant online or in-store.
- You can choose which crypto wallet to use for spending – Bitcoin, Ethereum, or Litecoin.
- You can keep track of your spending by using the Coinbase transaction and spending summaries.
- Note: Coinbase account required
3. Gemini Crypto Credit Card
Official Website: [https://www.gemini.com/credit-card]
Best Overall For Crypto Credit Cards.
|Reward Rates||>3% back on dining (up to $6,000 in annual spend, then 1%)|
>1% back on all other purchases
>2% back on groceries
|APR||12.99% – 23.99% Variable|
Gemini is launching its own crypto rewards credit card. This comes as a result of it being one of the most popular cryptocurrency exchanges in America. The Gemini credit card does not have an annual fee. However, the rewards structure is slightly different.
Cardholders will be able to earn:
- 3% back on dining
- Get 2% off your groceries
- All other purchases eligible for a 1% discount
Your crypto rewards do not have to be limited to Bitcoin. You can also earn them in any of the 40+ Gemini-supported crypto assets. You can also benefit immediately from price appreciation by receiving the rewards you earn from your spending.
Customers in all 50 US states will have the option to purchase the card. It will be metal with a black or silver finish. The Gemini card is expected to launch in the summer of 2021. Those interested can sign up for the waitlist.
Features of Gemini Crypto Credit Card
- Card costs are lower when there is no annual fee.
- There are 50+ cryptocurrency coins available.
- Traveling without foreign transaction fees is a great way to save money.
- Your Gemini account will receive crypto rewards immediately.
- You can customize your credit card design and color.
- Gemini makes it simple to manage your account, transactions, and more with the Gemini app
4. Crypto.com Crypto Credit Card
Official Website: [https://crypto.com/cards]
Best For Instant Crypto Rewards
Crypto.com supports the purchase and use of more than 100 cryptocurrencies. It has approximately 10 million users worldwide as of July 2021. Users can earn up to 8% on purchases made with the metal prepaid Visa Card.
You can also top up the card with fiat currencies, in addition to crypto. Over 20 fiat currencies are accepted by the company. It can use crypto to purchase it at 40 million Points-of-Sale, retail shops, and ATMs that have Visa logos. It can be used in over 1000 lounges at more than 400 airports. It allows you to top up with crypto and then spend it in USD as any other payment method.
The amount of crypto tokens purchased and deposited into the wallet determines the card tier. KYC verifications must be completed by users.
Features of crypto.com Crypto Credit Card:
- You can spend the crypto card on Netflix and Spotify, Expedia Lounge, Expedia.com, Prime, and Airbnb.
- You can withdraw up to $1,000 from an ATM for free depending on your card.
- Earn 1% to 8.8% cash back on purchases with the card and earn CRO (crypto.com’s platform token) when you stake CRO.
- You can choose from up to five different card designs, with variable CRO stake rewards and maximum withdrawals. These card tiers have staking requirements ranging from $0 up to $400,000.
- CRO holders are free, there are no annual or monthly fees.
- A mobile app is also available.
5. Wirex Visa Crypto Credit Card
Official Website: [https://wirexapp.com/]
Best for International Transaction
|Reward Rates||Crypto back™ rewards pay back up to 8% in X-Points on all spending, online and offline|
|Recommended Credit||No Credit History|
Wirex Visa Card allows users to open fiat and cryptocurrency accounts, as well as convert crypto to fiat without intermediaries. The card allows users to earn cashback for every purchase or transaction made with it.
This card can be used to open multi-sig accounts.
Features of Wirex Visa Crypto Credit Card:
- Receive 2% cashback when you purchase with your card Cashbacks in WXT, the platform native token, can be converted into any crypto.
- You can withdraw up to SG$1400 per day from ATMs, and top up your debit/credit cards with as much as $2500.
- Provides notifications in-app. You can track transaction history.
- It currently supports 36 cryptocurrencies and more than 150 national currencies.
- You can save up to 33% by converting cryptocurrency to local currency at ATMs and merchant shops.
- Refer a friend to get 10 USD in WXT
There are no fees. Converting crypto to fiat requires no exchange fees. There are no maintenance fees. Delivery is from SGD 5-25. 1% of the card’s balance can be topped up with a crypto account. No additional charge to top up with external credit cards or debit cards.
ATM withdrawals are free for up to 400 SGD per month. After that, 2% will be charged. Transfer out crypto, USD 10k per transaction; up to $50,0000 daily.
6. Upgrade Bitcoin Rewards Visa
Official Website: [https://www.upgrade.com/upgrade-card/]
The Upgrade Bitcoin Rewards Visa, or bitcoin card, is a primary crypto credit card. It doesn’t offer any additional benefits over other cards, but it is an excellent alternative to other cards. While you won’t earn bitcoin, it offers the same rewards rate at 1.5% on all purchases as BlockFi. The Upgrade Bitcoin Rewards Visa can be used anywhere Visa is accepted. However, you can’t move bitcoin from the custodial Upgrade Platform to your wallet. This limits your ownership and exposes your price exposure. You can only do what you want with your bitcoin rewards: keep them in your custodial account or redeem them as a statement credit. Although it is limited, this card is one of the most accessible crypto rewards cards currently available.
Upgrade Bitcoin Rewards Card
Like other crypto rewards options like flat cashback, Upgrade’s Bitcoin Reward Card is similar to:
- 1.5% in Bitcoin rewards when your purchase is paid down (not when the purchase is made).
- Bitcoin can be redeemed within 1-2 statements after payment has been received.
- Your Bitcoin rewards can only be used to upgrade your account or sell. You can’t transfer your Bitcoin to any other wallet, and you have to wait for 90 days before you are eligible to sell.
- You will be charged a 1.5% transaction charge once you sell your Bitcoin holdings. The money you receive from the sale can only be used as a statement credit.
- There is no annual fee or foreign transaction fee.
- 8.99% to 29.99% APR — If you have a balance, the upgrade card works more like an installment loan. You’ll pay equal monthly installments over a set period.
The Upgrade card has the most restrictions when it comes to Bitcoin rewards. However, the other cards on the list offer better options for earning and investing. This card is ideal for those who want to own Bitcoin to store value and eventually sell it. However, this card won’t allow you to exchange your coins for other cryptos or keep your cash in your wallet.
Pros & Cons
- When you pay with your card, earn 1.5% in Bitcoin
- If you have a balance, fixed payments can help you save interest.
- There is no annual fee
- No foreign transaction fees
- There is no welcome offer for new customers
- Potential for high APR
- Not available in all states
- Market trends can cause rewards to fluctuate in value.
Features of Upgrade Crypto Credit Card
- Bitcoin is added to your account within 1-2 statement periods after making a payment. Market prices determine the value of Bitcoin at the time.
- You’ll be charged a transaction fee of 1.5% if you sell Bitcoins you have earned.
- Variable APR from 8.99% to 29.99%
- Credit lines available from $500 up to $25,000
- Set monthly payments and pay off balances at a fixed rate
- Inaccessible in Hawaii, Iowa, and New Hampshire.
7. Venmo Credit Card
Official Website: [venmo.com]
The Venmo Debit Cards are not like traditional debit cards which pull from linked accounts. Instead, purchases made with the Venmo Card are charged to your account balance. However, you will still need to have a linked account in order to transfer funds to that balance.
- Venmo was founded in 2009 as a peer-to-peer text-message payment platform. Three years later, the platform launched an integrated social network.
- It was purchased by Braintree in 2012 and then acquired by PayPal a year later. Venmo charges a standard fee of 3% for sending money. However, the company will waive that fee if the transaction is funded using a Venmo balance or a bank account.
- When users send money using a credit card, the 3% fee will not be waived.
- Venmo can be used to pay for purchases by around 2 million brick-and-mortar and online merchants.
Venmo Credit Cards Earning Rewards
The Venmo card is a reward card that earns reward points at these rates:
- Earn cash-back of 3% on your top spending categories from an eight-page list
- Earn 2 percent cash back for your next top purchase category from the following list
- Other purchases receive a cashback of 1%
The eight categories of categories that can be eligible for bonus rewards are as follows:
- Restaurants and nightlife, including dine-in and take-out, delivery bars, and drink shops
- Travel, including hotels, airline resorts, motels, and airlines as well as short-term rental services like Airbnb. It is important to note that cruises are not qualified
- Utilities and bills–including streaming services, internet service electric bills as well as magazines and newspaper subscriptions
- Beauty and health, including pharmacies and drugstores, tennis clubs, health clubs golf and swimming memberships
- Grocery, which includes supermarkets as well as wholesale clubs along with bakeries, convenience stores, and Delis
- The term “gas” includes any store that offers fuel. It is important to note that this does not exclude the purchase of gas from discounters and warehouse clubs.
- Transportation–Including rental cars, taxicabs, rideshare merchants, limousines, bus lines, passenger railways, tolls, parking meters, and parking garage fees
- Entertainment–Including movie theaters, theatrical and concert promoters, video rental and game stores, books and newsstands, amusement parks, music stores, and toy and hobby stores
What is the best way to get crypto credit card rewards?
It’s not unusual to have credit cards linked to investments — for example, the Fidelity Rewards Visa Signature Card offers 2% back on all purchases when you deposit your earnings into a Fidelity investment account.
The crypto rewards cards work in a similar way. The card can be used to make any purchase that you would normally use a credit card for, and you will earn a certain percentage back. Some cards earn a flat rate for every purchase while others give you bonus rewards in specific categories like groceries or dining.
These cards function just like any other rewards card. However, you run the risk of high-interest debt if the balance is not paid in full by the due date. These cards have the same variable interest rates as other credit cards. They typically range from 10% to as high as 20% APR. While crypto rewards can be a great way to earn long-term value, they are also susceptible to being quickly erased by high-interest balances.
The redemption process is the main difference between a cryptocurrency rewards credit card and other reward cards. You’ll get that percentage back in crypto, instead of statement credits or cash back. If you spend $1,000 on a card that earns 2% back crypto rewards in a given month, you might be eligible to redeem the rewards for $20 worth of Bitcoin. These cards can be co-branded with crypto investment platforms or crypto exchanges. Your crypto is usually deposited to your associated account.
Do You Need a Crypto Rewards Credit card?
Cryptocurrency may not be the best way to invest if you are looking to gain crypto-currency but don’t want your money to go bad. Harzog states that these cards are a low-risk way of trying out the market. These cards can be a great way to boost your portfolio if you are willing to accept the risk.
Consider the potential loss of travel or cashback rewards. Rossman states that credit card rewards should not be a major part of your monthly budget. However, you need to ensure that you are at least on a stable financial footing so that cashback rewards can be used elsewhere. Or, perhaps you are sacrificing your chance to receive a free vacation.
Credit cards come with the usual risks. A new rewards credit card won’t help if you are already in credit card debt or have trouble paying your monthly balance. You should not open these cards if you don’t have good credit habits. Pay your monthly balances on time and in full. Otherwise, you will end up paying more interest than you get in crypto rewards.
Harzog says, “You only have to decide how you want your portfolio to look.” “And I am not only thinking about your investments but also your wallet. Which credit cards are you currently carrying? How much risk can you take that you feel comfortable with?
Rossman believes that these cards are most appealing to smart users who are already customers and want to consolidate rewards from investments. Rossman speculates that companies view the cards as a long-term strategy, which can be very suitable for long-term HODLers.
Rossman states that none of these offer the eye-popping sign-up bonuses he is looking for. He finds this reassuring. They don’t want the flash-in-the-pan type of [points] player. They’re looking for someone who is already a crypto enthusiast and wants more, or someone who might be interested in trying it out.
Are Crypto Credit Cards Secure?
Credit cards come with some risks. Credit cards are a major source of identity theft as well as financial fraud.
You can be sued if you lose your card or your card number, and if you don’t lock it or cancel it, your card could be used to purchase items without your consent. Hackers can also steal your credit card and make unauthorized purchases if it is used on unsecured websites or payment terminals.
Traditional credit cards offer important protections against financial loss from card theft or card numbers being stolen.
First, many issuers allow you to lock your credit card immediately if you find it missing. This makes it ineligible as a payment method. You can unlock the card if you find it later. You can cancel the card and ask for a new number.
Second, and perhaps most importantly, almost all credit card issuers have $0 liability policies for fraud. You won’t be held responsible if someone uses your card for unauthorized charges. The issuer will reverse the charges after an investigation has been completed and it is determined that the charges were fraudulent.
Generally, crypto credit cards have $0 fraud liability policies. They have an additional vulnerability, however, because they use crypto to reward customers.
Crypto holdings that are stored in hot wallets that can be connected to the Internet are susceptible to theft. Although this is true for fiat currency in bank accounts, crypto wallets are more vulnerable to theft than those held in bank accounts. Consumers have less recourse if their holdings are stolen.
BlockFi Rewards Visa Signature Card
Coinbase Visa Crypto Credit Card
Gemini Crypto Credit Card
Crypto.com Crypto Credit Card
Wirex Visa Crypto Credit Card
A crypto-credit card is one that gives the possibility of earning cryptocurrency rewards for spending. It functions similarly to a cashback credit card, in the sense that you earn a predetermined amount, for instance, 1.5 percent, on every purchase that you make. The distinction is that crypto credit cards allow you to use that money to purchase cryptocurrency on behalf of the cardholder.
The card, contingent on the tier, comes filled with value and benefits however, it can be at times with an extremely high stake requirement. This could or might not be enough to make the card because of the potential cost of having your crypto funds to the program worthwhile for you.
However, crypto won’t substitute credit cards since credit cards provide a wide range of products that are valuable for customers.
When credit card transactions involve multiple participants, they only require a few minutes to complete. However, Bitcoin transactions can be delayed for up to 10 minutes depending on the network’s activity and the currently-indicated hash rate.
These cards can be used as ordinary debit cards. They are offered by some cryptocurrency wallets and exchanges as an alternative to crypto credit cards. The funds are drawn from your account or wallet when you use a cryptocurrency debit card. To make a purchase, you will need crypto.
Are you required to pay tax on crypto? Crypto is subject to tax. The IRS considers cryptocurrency property and all cryptocurrency transactions are subject to tax. If you trade, sell, or dispose of cryptocurrency, and you recognize again, taxes are due.
You can do this either by directly purchasing crypto tokens in a qualifying portfolio or by investing in crypto-related assets such as an asset-indexed ETF or cryptocurrency-related companies. These investments can be made with pre-tax income in a portfolio such as a 401(k), IRA, or IRA.
For crypto enthusiasts, crypto credit cards allow you to earn Bitcoin and other digital currencies on your regular spending. If you’re new to cryptocurrency, this type of rewards credit card is a risk-free way to get started. And if you’re already investing, you can use one to add to your crypto wallet.
Rewards from credit cards with cryptocurrencies can be tax-deductible if sold after they’ve grown in value. Although rewards from credit cards generally don’t have to be tax-deductible, however, crypto rewards are unique since they can vary in their value. There is no need to pay tax for crypto rewards. However, you must pay taxes if you make gains on them which means you can sell or use them in any manner after their value has increased.
You must have an average credit score of 670 or greater to qualify for the majority of cryptocurrency credit cards. These cards are generally only accessible to those who have credit scores that are in the good or excellent range. There are certain exceptions you could get even if you have less credit.
You’re borrowing cash from the card’s issuer. The issuer of the card pays the purchase up front and you pay it back in the future. There are interest-related charges that can apply however, if you pay off your card’s entire balance on time you’ll be able to avoid charges for your purchases.