As more and more crypto cards are becoming available, consumer interest is growing to earn rewards in this new way on everyday spending. Crypto credit cards function much like traditional credit cards, except that they source funds and pay rewards using digital currency, like Bitcoin. Backed by popular card networks like Visa and Mastercard, you still enjoy flexible spending with enhanced rewards through cryptocurrency.
To find the best crypto credit cards today, we regularly research and analyze several critical factors. This includes not only the rewards structure but also associated pricing and fees, cryptocurrency options, payment methods and exchange options.
To get started, you will need to purchase Crypto.com’s CRO tokens and stake them in your Crypto.com wallet. Prospective cardholders will need to stake CRO tokens for 180 days before they can apply for the card. How much CRO you have staked will determine the card tier.
Obsidian: $400,000 USD worth of CRO stakedRose Gold/Icy White: $40,000 USD worth of CRO stakedRoyal Indigo/Jade Green: $4,000 USD worth of CRO stakedRuby Steel: $400 USD worth of CRO stakedMidnight Blue: $0 USD worth of CRO staked
Although sometimes referred to as a debit card, the Crypto.com card is, in fact, a prepaid card that uses Crypto.com’s own digital currency. There is no maximum allotment per month for transactions involving currency exchange, allowing you to make as many exchanges as necessary. Rewards vary based on the card tier, with cards offering 1% to 5% CRO back and other rewards. If you catch the travel bug, there are rewards there, too, with 10% back on Airbnb and Expedia purchases for the Obsidian and Frosted Rose Gold/Icy White cards. You also receive exclusive airport lounge access. There are no ATM withdrawal fees for most cards and exclusive currency exchange rates when you maintain a higher monthly limit. Crypto.com is compatible with more than 90 different cryptocurrencies, making it one of the most flexible crypto cards available today. The card itself is made of metal and certain tiers give cardholders a choice in color. You can use your card anywhere Visa is accepted, and the exclusive Crypto.com app helps you manage your account on the go. Pros
Compatible with most cryptocurrenciesNo feesPopular streaming service rebates
Cons
Required use of Crypto.com tokensLimited consumer resourcesComplicated platform for new users
Gemini has a unique rewards structure that is paid in real-time and can be redeemed in several ways:
3% back on dining (up to $6,000 spent, then 1%)2% back on groceries1% back on all purchases
All rewards from eligible purchases are paid out via Bitcoin or another cryptocurrency accepted by Gemini. Members also receive access to Mastercard exclusives, such as special savings on purchases at Lyft, DoorDash, HelloFresh and a ShopRunner membership. Mastercard’s signature Mastercard ID Theft Protection and Zero Liability and Price Protection benefits are also included. Pros
Use anywhere Mastercard is acceptedAvailable nationwideMultiple rewards structures
Cons
No guaranteed exchangesFees can add up
It draws from your Coinbase balance (not from Coinbase Pro, Wallet, Prime, or Commerce accounts), so you simply pay with a PIN or withdraw from an ATM as you would with a normal card. There is a daily spending limit of $2,500 and a daily $1,000 ATM withdrawal limit. Cardholders have the choice of earning either 1% back in BTC, ETH, DOGE, and DAI or 4% back in XLM and GRT whenever a purchase is made. Accepted anywhere that Visa is accepted, the Coinbase Visa gives global spending ability with no international limits. There are enhanced security features that include two-step verification, plus you have the option to instantly freeze your card through a hearty mobile app that keeps you in the driver’s seat of your account. Bookkeeping is also made easy with the option for account notifications, digital receipts, and transaction summaries. However, it is a fee-heavy debit card. Although there is no issuance fee, you will pay several other fees, like a Coinbase wallet currency conversion fee of 2.5%. This fee is per transaction and applies to any assets other than USD, USDC, or any supported crypto on Coinbase. There is also a 1% penalty when you withdraw above your maximum limit. Although crypto rewards can reach as high as 4% on eligible purchases, that 2.5% transaction fee could leave you with only 1.5% gains. Still, customers remain generally happy with the credit card and appreciate the additional security and convenience features this card has to offer. Pros
Enhanced card securityAccepted at same locations as VisaAdditional bookkeeping features
Cons
High transaction fees on unsupported assetsMust have a Coinbase account
Wirex uses staked tokens called WXT to fund your account and provide access to benefits. Wirex also introduces a new kind of rewards system called Cryptoback that gives you up to 8% back in X-Points rewards – based on your plan – for eligible in-store or online purchases. If you refer new members, Wirex offers up to 1000 WXT in rewards. That is in addition to the standard 2% back on eligible in-store purchases. The Cryptoback program is a 12-month subscription service. Depending on the price plan cardholders choose, the card will earn 2% to 8% back in X-Points for purchases. X-Points can be exchange for cryptocurrency. To earn 2% is free, 4% will cost $10 a month or $102 annually. To earn 8% back cardholders will need to pay $30 monthly or $306 annually. Wirex features a straightforward fee schedule with no annual fee. However, there is a transaction fee of 2.5% that can eat into your total rewards. There are no fees for fiat-to-fiat exchanges, and there are 18 currencies that all enjoy exclusive over-the-counter or interbank rates. You will pay a 1% fee to fund your account with cryptocurrencies. Wirex also has its own app, allowing you to set instant alerts, track your spending, and maintain a budget. It is an easy and more affordable way to switch from one currency to another while you are traveling, allowing for more streamlined global purchases, no matter where you are in the world. Pros
Multiple cryptocurrenciesMinimal feesX-Points rewards
Cons
Must maintain Wirex WXT balanceLimited rewards structureNative token-based
In fact, there are no transaction fees at all, saving you precious rewards. Plus, there’s a welcome bonus of 3.5% back in BTC for every purchase for the first three months, with a max earning of $100 in BTC. Cardholders can also enjoy an upgraded 2% rewards structure when they spend more than $30,000 each year. If you refer a friend, that is an additional $30 in Bitcoin rewards. Cardholders will even earn 0.25% back in crypto for eligible trades, up to $500 in BTC per month. Similar to a traditional credit card, the BlockFi card does have a credit limit. There is no annual fee with a straightforward reward structure to help you earn. Many cardholders appreciate the fact that there is no sliding scale or complicated rewards structure to track in order to receive their earnings. With its Visa insignia, it is a card that acts like a traditional credit card with all the modern benefits of cryptocurrency. Pros
Flat 1.5% rewards structure (up to 2% if cardholders spend $30,000 annually)Multiple bonus rewardsRewards distributed in BTC, ETH, and 15+ other cryptocurrenciesVisa Signature benefits
Cons
Waiting period for some rewards
To find the best crypto credit cards for rewards in 2022, we considered a number of factors:
Rewards: We analyzed not only the rewards for each card but also the terms and conditions governing each to ensure eligibility and availability. Availability: While many cards are available for immediate use, others are currently waitlisted. Withdrawal: We looked to see what methods are available for conversion and its ease of use. Security: We scrutinized the cards on our list to ensure they meet industry standards for security. Fees: From annual fees to foreign and transaction fees, our team reviewed the fee schedule for each card to analyze affordability.
To help you find the right crypto credit card that meets your needs, there are a few factors to consider:
Rewards structure: Before committing to a card, it is important to ensure that your card holds a rewards structure that is both reasonable and attainable for your spending needs. Tier-based systems may be great if you’re a heavy spender, but a flat-rate structure may work better for those who have more infrequent spending.Cryptocurrencies: Many cards limit transfers and conversions to just a small number of the cryptocurrencies available today. If you favor a particular currency, it is important to ensure that it is compatible with your crypto card before you open an account. Fiats: If you frequently travel abroad, there are important international considerations for your crypto rewards credit card. With fiats varying from card to card, it is important to check that your card supports the necessary currency conversions for your trip. Required stake: Some crypto cards like Crypto.com and Wirex require users to maintain a minimum stake in order to be eligible for certain rewards. Account linking: Some crypto cards source funds directly from a prepaid account of cryptocurrency, while others may tap into a digital wallet. Others yet may offer a line of credit, much like a traditional credit card. How you link your credit card is one massive factor that will immediately filter out several ineligible cards for you.
Other options for your crypto rewards credit card include these:
Crypterium: This is a prepaid crypto card.Nexo: With a Nexo credit card, you can borrow up to $2 million in loans. Swipe: The Swipe Visa offers tons of features with up to 8% back.TenX: A popular choice, the TenX Visa card features none of the typical fees.
No matter which card you choose, you should always carefully read the terms and conditions to ensure that you find the best crypto credit card for rewards that works for your spending needs.
