5 Best Crypto Credit Cards of 2022

Save time and effort by comparing the best crypto credit cards available right now that allow you earn Bitcoin and crypto rewards on your spending.

ALSO CONSIDER: Best crypto debit cards

Cryptocurrencies are constantly evolving into a widely accepted medium of financial exchange, and as such, many financial institutions now offer crypto-based services similar to those provided by traditional banks. One of these services is the crypto credit card service.

These cards are connected to your crypto account, but they work like regular credit cards since they facilitate transactions and allow you to earn rewards on your spending.

Many crypto credit cards are available, but choosing the right fit can be difficult. Fortunately, we have researched for you, so keep reading to learn about the best crypto credit cards available right now.

The Best Crypto Credit Cards Reviewed

If you are unsure which crypto credit card to use, this review will help you make an informed decision by providing the necessary details about the best ones available.

Let's begin.

Summary

Gemini Credit Card: The Best Overall Crypto Credit Card

BlockFi Rewards Credit Card: Best Bitcoin-Backed Rewards Credit Card

Venmo Credit Card: Best for Crypto Purchases With Your Rewards

Nexo Card: Crypto Card With High Credit Rewards in Native Tokens

SoFi Credit Card: Credit Card With Unlimited Cashback

ProviderProcessorRewards
Gemini
MastercardUp to 3% crypto
BlockFi
Visa3.5% intro, then 1.5% crypto
Venmo
VisaUp to 3% crypto
Nexo
MastercardUp to 2% NEXO, or 0.5% BTC

Gemini Credit Card

The Gemini Credit Card was announced in January 2021 and is now available for users in several countries. The card runs on the Mastercard payment network and provides lots of bonuses, including the chance to get 3% cashback on all purchases.

Let's review the key features, shall we?

Features

Crypto Rewards

This credit card allows users to earn crypto rewards in various categories;

Cardholders earn 3% back on dining on up to $6,000 spent, 2% back on groceries, then 1% on everything else. The different spending categories allow users to maximize their earnings and encourage the use of credit card for everyday purchases.

Bonuses

The credit card issuer does not offer a welcome bonus but allows users to earn their rewards in real-time.

Fees

The Gemini card can be used with little to no fees for most transactions. There are no foreign transaction fees, no annual fees, or exchange fees to acquire your rewards. Interesting right?

Cryptocurrencies Supported

The card allows cardholders to earn various crypto assets available on the platform. Rewards are now available in Bitcoin, Ether, or 60+ other cryptocurrencies. Compared to other crypto rewards cards, the Gemini credit card is quite versatile as users also earn their rewards in real-time as transactions occur.

Why is this important?

It can help you increase your earnings when the crypto you're earning appreciates. But, you can earn in one cryptocurrency at a time. You can switch between cryptocurrencies, and whichever one you choose depends on your preference.

Security

Gemini offers lots of options for users to protect their accounts.

First off, the two-factor authentication process protects every account from unauthorized access. To confirm that authorized persons carried out transactions, users receive real-time alerts based on transaction size or type.

What if your card gets stolen or lost?

You can lock your card anytime from the Gemini app since the credit card can be accessed from the mobile app.

Taxes

According to Gemini, the IRS deems credit card rewards as “rebates” rather than “income,” implying they are non-taxable. However, some transactions may be taxable, so make sure you consult your tax advisor for guidance.

Pros and Cons

Pros

  • Robust security mechanisms
  • Rewards can be earned in real-time
  • Flexible rewards system
  • Supports 60+ cryptocurrencies
  • The credit card is available to US residents

Cons

  • No welcome bonus
  • You must have a Gemini Exchange account

Summary

The Gemini credit card has a flexible rewards system with little to no fees and supports numerous cryptocurrencies. This card would be great for you if you are a US resident who loves earning rewards in real-time.

ProviderProcessorRewards
Gemini
MastercardUp to 3% crypto

BlockFi Rewards Credit Card

Features

The BlockFi rewards credit card is the first bitcoin-backed reward card. This means that anytime you make a purchase with the BlockFi credit card, you don't get a cashback, but you get Bitcoin back, and it gets deposited into your BlockFi account.

This crypto credit card pays cardholders 1.5% back in Bitcoin on every purchase and can be used anywhere Visa® is accepted. It provides significant versatility, and with that said, let's discuss its main features.

No Annual Fees

Before releasing the BlockFi credit cards, the company removed the annual fee associated with them. This means users can now shop, earn, and never have to worry about paying yearly fees and commissions. Furthermore, there are no foreign transaction fees, so if you like to travel, feel free to use this card abroad.

Crypto Rewards

BlockFi cards offer numerous crypto rewards to cardholders.

First off, the introductory offer lets users earn 3.5% back on their purchases in the first three months till their earnings reach $100. This means that once you activate your card and start using it, you will earn 3.5% back until your earnings reach $100. Afterward, you will earn 1.5% on every purchase. Simple, right?

In addition, your reward rates increase from 1.5% to 2% once you have reached an annual spend of $50,000. Essentially, BlockFi offers you high rewards in the first three months, after which your rewards increase as you spend more.

Bonuses

Besides the crypto rewards offered, cardholders can earn bonuses by trading crypto or referring others to the BlockFi platform.

Crypto traders on the BlockFi platform will earn 0.25% back in Bitcoin. This offer is capped at a maximum of $500 worth of Bitcoin per month. However, stablecoin to stablecoin trades are excluded from this offer.

If you refer people to the platform, you can earn $30 in Bitcoin per client referred, thanks to the Refer-a-Friend program.

Cryptocurrencies Supported

The BlockFi platform allows users to decide which crypto to earn their rewards in various crypto through the Rewards Flex program. Cardholders can choose to earn rewards in Ethereum, Bitcoin, and other cryptocurrencies.

Security

The BlockFi Rewards Visa Signature Card protects cardholders by offering two-factor authentication services to add a layer of security to all accounts.

If your card is stolen or lost, you can easily get it replaced to avoid unauthorized access to your account. Start by logging into your account via the web application, navigate to the "Credit Card" screen, select "Manage Card," and then click the "Replace Card" tab.

Pros and Cons

Here are some of the pros and cons of the BlockFi crypto rewards card;

Pros

  • No annual fee
  • No foreign transaction fees
  • Allows users to earn Bitcoin rewards

Cons

  • You need to own a BlockFi account to use this card.
  • The 1.5% back earning rate is lower than most other credit cards.
  • To retain the 2% cashback, you need to spend at least $50,000, and this amount is reset annually.

BlockFi no longer provides interest accounts to clients from the United States. Read more about these regulatory developments.

Summary

The BlockFi Credit Card provides access to numerous bonuses without annual or foreign transaction fees. But, the cashback rewards users with less percentage earnings compared to other cards. If you have a BlockFi account and love earning Bitcoin rewards, this card might be right for you.

ProviderProcessorRewards
BlockFi
Visa3.5% intro, then 1.5% crypto

Venmo Card

Features

The Venmo Credit Card is a versatile card that allows users to utilize their rewards differently.

The card can be linked to your Venmo account for convenience. It allows users to earn up to 3% cashback on their spending, so keep reading to learn how it works. At the end of each month, Venmo transfers the cashback to your account and allows you to purchase different crypto assets with no fees.

Crypto Rewards

The Venmo card provides rewards in different categories. The percentage reward you earn depends on the spending category. You earn 3% cashback on your top spending category. Then you can earn 2% cashback on the next category, and 1% on the others.

As a Venmo credit cardholder, you can earn 3% cashback on your top spending category, which can be any of these:

  • Transportation
  • Travel
  • Grocery
  • Entertainment
  • Gas
  • Health and beauty
  • Bills and Utilities
  • Dining

Afterward, you will earn 2% cashback on your second top eligible spending category and 1% cash back on other purchases.

Venmo gives you customized cashback rewards that help you maximize your earnings based on what you spend. This means you would still maximize your earnings when your spending categories change. Rewards earned on the Venmo credit card never expire as long as the account is open and in good standing.

When you sign up for Cashback to Crypto for your Venmo Credit Card, Venmo will use the cashback from your Venmo account to buy the cryptocurrency of your choosing. You can choose to convert your cashback to crypto automatically, but this won't be possible if your earnings are less than $1.

Fees

There are no annual fees attached to the Venmo card. The conversion of your earnings to any crypto of your choice also attracts no fees.

Bonuses

While using the Venmo credit card, there is no cap on your earnings, and you can earn rewards as long as you keep using the card.

Flexibility

Cardholders can make payments using the custom QR code. This makes the card more convenient as your friends and customers can pay you by simply scanning your QR code. Furthermore, the rewards earned can be used in various ways, such as making payments, buying crypto, and paying off the credit card balance.

Pros and Cons

Pros

  • Customized cashback system
  • No annual fees
  • No cap on earnings
  • Personalized QR code

Cons

  • No welcome bonus

Security

Since the Venmo Card is backed by Visa, the card comes with Visa Traditional Credit Card benefits and protection. Cardholders can also manage their credit card account by navigating to the Venmo Credit Card section in the main menu of the Venmo app.

Summary

The Venmo credit card is great for people who have Venmo accounts and do not want their reward earnings capped. There are no annual fees, and the cashback system is built to help you maximize your rewards. However, cardholders may earn less rewards compared to other credit cards because Venmo rewards in different spending categories.

ProviderProcessorRewards
Venmo
VisaUp to 3% crypto

Nexo Card

The Nexo card is one of the best crypto rewards cards available because It allows you to spend while retaining ownership of your crypto assets. With this card, you can spend up to 90% of your crypto assets' value without selling them.

The Nexo card has unique features and benefits, so let's discuss some of them.

Features

Crypto Rewards

As explained earlier, the Nexo card is only available to Nexo users who use their crypto assets as collateral to borrow fiat currencies. This allows them to spend the fiat equivalent of their crypto holdings without selling their crypto. Here are the essential rewards it provides.

First off, the Nexo card allows users to earn up to 2% cashback in crypto rewards. If you earn your rewards in Nexo tokens, you will get 2%. But, if you choose to earn in Bitcoin, you will only get 0.5%.

Fees

There is no annual fee associated with using the Nexo card. Also, there are no foreign transaction fees up to 20,000 euros.

Taxes

While using debit cards, your crypto would be sold and converted to fiat currency, leading to taxation. While using the Nexo card, you don't have to sell your crypto assets; therefore, you won't incur any taxes.

Credit Checks

Unlike some other cards, the Nexo card requires no credit checks.

Interests

When you have used your Nexo card to purchase something but did not yet pay it back, interest accrues on that balance immediately. The interest accrues and compounds daily.

The interest rate depends on your Nexo loyalty level. The loyalty level increases as the percentage of Nexo tokens you hold in your account increases.

For example, platinum members need to hold at least 10% of their portfolio in Nexo tokens. As a result, they have a 0%-6.9% interest rate depending on their card balances and collateral.

In other words, while using the Nexo card, try to keep your LTV low and repay your card balance as soon as you can.

Cryptocurrencies Supported

Nexo currently accepts various cryptocurrencies, including Litecoin, Bitcoin, Ethereum, Stellar, EOS, and many others. In total, about 17 cryptocurrencies are supported by Nexo.

In addition, the Nexo card is compatible with Google pay and can be added to Apple pay too.

Pros and Cons

Pros

  • Virtual cards can be created for convenience
  • It reduces the likelihood of taxation
  • The card can be controlled from the mobile app.

Cons

  • Borrowers can only use it on the Nexo platform
  • Low cashback for cardholders who choose to earn rewards in Bitcoin.

Summary

The Nexo credit card provides crypto rewards to cardholders and allows them to spend the fiat equivalents of their crypto assets. This card is excellent for people who love to HODL and earn cashback for spending borrowed funds. If you’re not someone who is interested in borrowing fiat currencies against your crypto holdings, then this will not be the right card for you.

ProviderProcessorRewards
Nexo
MastercardUp to 2% NEXO, or 0.5% BTC

SoFi credit card

Features

Crypto Rewards

The SoFi card allows cardholders to earn 2% unlimited cash back on all purchases. You can also earn 3% cashback for a year when you set up a direct deposit with SoFi.

These crypto rewards can only be transferred to SoFi savings or investing accounts or used to pay back a loan. But, you can't use this 2% cashback to lower your credit card balance, and you also can't send it to another bank account.

Currently, only Bitcoin and Ethereum are available as redemption options.

Fees

There are no annual or foreign transaction fees associated with the SoFi credit card.

Bonuses

The SoFi card offers bonuses, including discounts with companies like Lyft, Hello Fresh, and Fandango. However, the card does not have a welcome bonus of any kind.

Security

The Mastercard ID theft protection protects the SoFi credit card. Since it's based on the Mastercard network, your purchases are just as secure and widely accepted as any other traditional credit card.

Pros and Cons

Pros

  • Redeem rewards for crypto
  • No annual fee
  • Crypto rewards can be used to repay loans

Cons

  • Rewards can only be redeemed in Bitcoin or Ethereum
  • No introductory offers

Summary

The SoFi credit card would be great for individuals who already have SoFi accounts since it will allow them to use their crypto rewards. There are no annual fees, and the best way to use this card is for all your regular spending, household items, and bills.

What is a Crypto Credit Card?

A crypto credit card earns you rewards on your spending. Like traditional credit cards, they allow users to earn a set rate on their purchases, and these earnings can be used to purchase crypto for the cardholder.

How Does a Crypto Credit Card Work?

Crypto credit cards function like other rewards credit cards available. Reliable processing networks back them, and this makes them widely accepted.

Like traditional rewards earning cards, when you use your crypto credit card, you will often earn cashbacks or rewards.

How to Choose the Best Crypto Credit Card

When choosing a crypto credit card, here are three main factors to consider;

Card Issuer

Before choosing a crypto reward credit card, make sure the card issuer is right for you. Check out the regulatory compliance and key requirements for each card.

Platforms like BlockFi require you to open an account and become a client before requesting a card. You may begin by comparing the platforms you have accounts on and deciding if any of them meet your specifications.

The regulatory requirements are also crucial as different countries have unique needs. In fact, there are differences in laws set by various states in the same country.

Crypto Rewards

Once you have confirmed the regulatory compliance and compatibility of your options, you can move on to the best part—a comparison of the rewards they offer.

This comparison should include the percentage of rewards and methods through which these rewards can be redeemed. This is important because some platforms have limited options for redeeming rewards.

Fees

After reviewing the rewards offered by the credit cards, you have to examine the other side of the coin—fees. Make sure the fees are reasonable and favorable compared to other platforms. Who doesn't like low fees?

The fees charged by each platform are usually stated explicitly. However, some costs, such as conversion fees, may vary.

FAQs About Crypto Credit Cards

Are Crypto Credit Cards Safe?

Like traditional credit cards, crypto credit cards are designed to provide significant levels of safety for cardholders. The safety mechanisms include two-factor authentication, biometric scanning, and real-time alerts.

Where Can I Use Crypto Credit Cards?

Most crypto credit cards can be used like traditional credit cards since they are backed by popular payment networks. Your Visa crypto credit card, for example, would be accepted in most places where a conventional Visa card can be used.

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