Best Cryptocurrency Credit Cards for Rewards and Cashback 

Cryptocurrency credit cards are cards that offer rewards in cryptocurrency. They work like other rewards credit cards on the market. You are rewarded as you spend on the card. But in this case, you are given cryptocurrency for your purchases. However, each card differs in how they process and award the cryptocurrency to their cardholders.

In this article, we will show you the best cryptocurrency credit cards for rewards and cashback. We will also explore the unique features and benefits of each card, as well as any potential drawbacks.

1. BlockFi Rewards Visa Signature Credit Card

The BlockFi Rewards Visa Signature Credit Card is a popular cryptocurrency credit card. This card offers an impressive array of benefits for crypto enthusiasts looking to earn rewards on their everyday spending.

One of the standout features of the BlockFi card is its generous rewards structure. Cardholders can earn 1.5% cash back on all purchases, which is automatically converted to Bitcoin and deposited into their BlockFi account each month. This means that you are not only earning rewards but also potentially benefiting from the appreciation of Bitcoin over time.

Another notable benefit of the BlockFi card is its sign-up bonus. New cardholders can earn 3.5% cash back on all purchases during their first 90 days, up to a maximum of $100 in Bitcoin. This bonus can give your rewards a significant boost right from the start.

The BlockFi card also offers a range of premium benefits, including free trades on the BlockFi platform, a referral bonus program, and no annual fee. Also, with the Visa Signature brand, cardholders can enjoy additional benefits like travel insurance, extended warranty protection, and more.

The BlockFi card requires a minimum balance of $100 in cryptocurrency to be held on the BlockFi platform. However, for those already invested in crypto, this requirement should be easy to meet.

2. Gemini Credit Card

The Gemini Credit Card is another strong option for those looking to earn cryptocurrency rewards on their purchases. Backed by the well-established Gemini exchange, this card offers a unique rewards structure and a seamless user experience.

With the Gemini Credit Card, users can earn up to 3% back on dining purchases, 2% back on groceries, and 1% back on all other purchases. These rewards are automatically converted to the cryptocurrency of your choice, including Bitcoin, Ethereum, or any of the 30+ cryptocurrencies supported by Gemini.

One of the advantages of the Gemini Credit Card is its flexibility. Unlike some other crypto credit cards, you’re not locked into earning rewards in a single cryptocurrency. This allows you to diversify your rewards and potentially take advantage of market movements across different digital assets.

Another benefit of the Gemini Credit Card is its lack of annual fees and foreign transaction fees. This makes it an attractive option for frequent travelers or those looking to save on costs associated with their credit card use.

The Gemini Credit Card also prioritizes security, with features like two-factor authentication, digital card numbers for online purchases, and the ability to instantly freeze your card if it’s lost or stolen.

3. Crypto.com Visa Card

The Crypto.com Visa Card is a popular choice among cryptocurrency users. It offers many benefits and rewards. With several card tiers available, users can choose the level of benefits that best suits their needs and spending habits.

One of the key advantages of the Crypto.com Visa Card is its generous rewards structure. Depending on the card tier, users can earn up to 8% back on their purchases in the form of CRO, the native cryptocurrency of the Crypto.com platform. These rewards are paid out instantly, allowing you to quickly accumulate and benefit from your earnings.

In addition to the rewards, the Crypto.com Visa Card offers a range of other benefits. These include free ATM withdrawals, no foreign transaction fees, and access to exclusive benefits like airport lounge access and travel discounts.

The Crypto.com Visa Card also stands out for its ease of use. The card is seamlessly integrated with the Crypto.com app, allowing you to manage your card, track your rewards, and even stake your CRO to unlock higher reward tiers.

One potential drawback of the Crypto.com Visa Card is that the higher reward tiers require a significant amount of CRO to be staked. However, for those committed to the platform and willing to hold their CRO long-term, the potential rewards can be substantial.

4. Coinbase Card

The Coinbase Card, offered by one of the world’s leading cryptocurrency exchanges, is a debit card that allows users to spend their cryptocurrency holdings anywhere Visa is accepted. While not strictly a credit card, the Coinbase Card deserves a mention for its unique features and ease of use.

With the Coinbase Card, users can instantly convert their cryptocurrency to fiat currency at the point of sale, making it easy to use their crypto for everyday purchases. The card supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.

One of the standout features of the Coinbase Card is its rewards program. Users can earn up to 4% back in cryptocurrency rewards on their purchases, with the rewards varying depending on the specific cryptocurrency held.

The Coinbase Card also offers a user-friendly app that allows you to manage your card, track your spending, and select which cryptocurrency you want to use for purchases. This level of control and flexibility is a major draw for many crypto enthusiasts.

While the Coinbase Card does not offer some of the premium benefits found with traditional credit cards, its seamless integration with the Coinbase platform and the ability to easily spend your cryptocurrency make it a compelling choice for those deep in the crypto ecosystem.

5. Binance Visa Card

The Binance Visa Card, backed by the world’s largest cryptocurrency exchange, is another strong contender in the world of crypto credit cards. This card offers many benefits and rewards for Binance users looking to bridge the gap between their crypto holdings and everyday spending.

With the Binance Visa Card, users can earn up to 8% cashback on their purchases, paid out in the form of BNB, the native cryptocurrency of the Binance platform. The cashback percentage varies depending on the user’s BNB balance and card tier.

One of the advantages of the Binance Visa Card is its seamless integration with the Binance ecosystem. Users can easily manage their cards and rewards through the Binance app, as well as instantly convert their crypto holdings to fiat for purchases.

The Binance Visa Card also offers a range of security features, including the ability to freeze your card instantly if lost or stolen, as well as 24/7 customer support.

The Binance Visa Card is currently available in a limited number of countries, so it may not be an option for all users. Additionally, like the Crypto.com card, higher reward tiers require a significant holding of BNB, which may not be feasible for all users.

Key Takeaways

1. Cryptocurrency credit cards offer a way for users to earn rewards and cashback in the form of digital assets, bridging the gap between everyday spending and the world of cryptocurrency.
2. Top crypto credit cards include the BlockFi Rewards Visa Signature Credit Card, Gemini Credit Card, Crypto.com Visa Card, Coinbase Card, and Binance Visa Card, each with unique features and benefits.
3. When choosing a crypto credit card, consider factors such as the rewards structure, supported cryptocurrencies, security features, and the overall ecosystem of the platform.
4. Crypto credit cards come with risks and considerations, such as the potential for reward value fluctuation and token holding requirements for higher reward tiers.
5. Using a crypto credit card can help to promote the adoption and mainstream acceptance of digital assets while allowing users to potentially benefit from the appreciation of their holdings over time.

FAQs

1. What is a cryptocurrency credit card?

A cryptocurrency credit card is a credit card that offers rewards and cashback in the form of digital assets, such as Bitcoin or Ethereum. These cards allow users to bridge the gap between their everyday spending and their cryptocurrency holdings.

2. Can I use a crypto credit card anywhere?

Most crypto credit cards are backed by major payment networks like Visa or Mastercard, which means they can be used anywhere these payment methods are accepted. However, some cards may have restrictions or limitations, so it’s important to check the specific terms and conditions of the card you’re considering.

3. Are cryptocurrency credit card rewards taxable?

Yes, cryptocurrency rewards earned through credit card spending are generally considered taxable income. It’s important to keep accurate records of your rewards and consult with a tax professional to ensure proper reporting and compliance with tax laws.

4. What happens if the value of my cryptocurrency rewards decreases?

The value of your cryptocurrency rewards can fluctuate along with the price of the underlying digital asset. If the value decreases, the purchasing power of your rewards may be reduced. However, if the value increases, you may benefit from the appreciation of your holdings over time.

5. Do I need to own cryptocurrency to get a crypto credit card?

This depends on the specific card and its requirements. Some cards may require you to hold a minimum balance of a particular cryptocurrency to be eligible, while others may not have any such requirements. It’s important to review the terms and conditions of the card you’re interested in to understand any prerequisites.

6. Are cryptocurrency credit cards safe?

Reputable cryptocurrency credit cards offer a range of security features to protect users’ funds and personal information. These may include measures like two-factor authentication, digital card numbers for online purchases, and the ability to instantly freeze your card if lost or stolen. However, as with any financial product, it’s crucial to exercise caution and follow best practices for securing your accounts and personal data.

7. Can I earn traditional cashback or travel rewards with a crypto credit card?

Most cryptocurrency credit cards focus on offering rewards in the form of digital assets rather than traditional cashback or travel rewards. However, some cards may offer the option to convert your crypto rewards into fiat currency or other perks. It’s important to review the specific reward structure of the card you’re considering to understand the available options.