Crypto Credit Cards Review: Best Crypto Cards in 2022

As cryptocurrency increases in popularity, more and more investors are looking to diversify their portfolios using crypto. As an investment, crypto can have a higher return rate than other financial securities. Unlike traditional bank accounts, a financial institution doesn’t determine crypto’s growth percentage. 

New fintech companies are taking notice of crypto’s rise in popularity, with many now offering cash back crypto rewards cards. Consumers can find both debit and credit card options. 

Here’s a look at some different options for cash back reward cards offering crypto. 

What Are Crypto Cards?

Crypto rewards cards offer cash back in cryptocurrencies, unlike typical credit cards that provide points or cash back rewards in fiat currency. Fiat currency is currency backed by a government, such as paper and coin-based currency. If cryptocurrency isn’t fiat currency, then what exactly is it?

Cryptocurrencies are decentralized — meaning they aren’t backed by government entities —  and built on the blockchain, a digital list of transactions verified by a network of computers. Like digital banking, cryptocurrency uses cryptography for security. 

What to Look For in a Crypto Card

Cash back rewards aren’t the only thing consumers will want to look for in a crypto rewards card. Be sure to check and see what other perks a card might offer. Some come with reimbursements on ATM fees and other services or have low fees. When comparing cards, carefully comb through the differences in APR, fees, perks, and other benefits. There are a few other things you might want to consider in a card, such as:

  • Brand of card (Visa, Mastercard, etc.)

  • Cash back categories

  • Penalties and interest

  • Selection of crypto rewards

  • Terms and conditions

  • Exclusions 

  • Reimbursements

  • Annual fees

  • Other fees (ATM, cash advance, foreign transactions, etc.)

Crypto Credit Card Rewards

As with any credit card, crypto cash back reward percentages will vary. Typical cards offer a range of 1.5% to 8% or more. With crypto rewards cards, how the rewards are earned and then redeemed may also vary. Some cards offer rewards instantly, while others offer rewards only after payment. Likewise, the number of cryptocurrencies offered with each card may range from only one to several dozens of currencies. 

The Six Best Crypto Cards

Personal

  • BlockFi offers a 3.5% Visa rewards card paid out in Bitcoin as an introductory offer for the first 90 days, up to $100. After that, users can receive unlimited 1.5% cash back on purchases.

  • Coinbase offers up to 4% rewards in your choice of some of the most popular cryptocurrencies. The reward rate is variable. 

  • Gemini offers instant rewards in over 60 different cryptocurrencies. Their cash back percentage varies from 1% to 3% based on shopping categories. 

  • Crypto.com offers several different tiers of prepaid cards with varying rewards and benefits. To qualify for these cards, Crypto.com requires users to hold CRO tokens — a cryptocurrency created by Crypto.com —  for at least 180 days. The current card tiers from highest to lowest are Obsidian, Frosted Rose Gold & Icy White, Royal Indigo & Jade Green, Ruby Steel, and Midnight Blue. Some levels of the Crypto.com Visa card include reimbursements for subscriptions, including Spotify, Netflix, and Amazon Prime at the highest levels.

  • The Upgrade Bitcoin Rewards Visa offers 1.5% cash back rewards in Bitcoin after payment. This card also comes with a $200 sign-up bonus when you make three debit card transactions, plus there are no fees. 

Business

  • dash.fi offers a rewards charge card for managing digital ad spend. All users earn 3% cash back on their first two months of ad spend, and those who work with one of dash.fi’s agency partners will earn 3% cash back on all of their managed ad spend. While dash.fi doesn’t pay rewards in crypto, users can use their 3% cash back to buy crypto themselves. dash.fi provides unlimited virtual business cards for each ad account, ad network, and campaign with higher daily spending limits than traditional business credit cards. These unique benefits make it a good choice for businesses who want to scale their ad spend without worrying about daily limits quickly.

How Do Crypto Credit Cards Work?

Crypto credit cards work the same way as typical rewards credit cards. Simply swipe your crypto credit card to make a purchase, and you will earn rewards for your spending that can then be cashed in as cryptocurrency.

As mentioned above, the amount of cash back you receive, the types of coins you can buy, and the types of spending that will earn rewards vary from card to card. However, the ways in which using a crypto rewards card works are the same as any other credit card. 

How to Choose the Right Crypto Card for You

Before choosing a card, it’s helpful to understand what cryptocurrency is and how it works. Remember that different cards will offer varying types of cash back rewards. Take some time to review your spending habits to pinpoint how you’ll receive the most benefit from your card. Understanding your needs in a card and how crypto rewards align with your investments is essential in picking the right card for you. 

While choosing a card, be sure also to consider factors other than rewards, such as terms and conditions, fees, interest rates, penalties, and other potential costs. Some cards may also offer reimbursement of ATM fees or certain monthly subscriptions in addition to crypto cash back rewards.

The Bottom Line

If you’re looking for higher potential returns on everyday spending, crypto rewards cards might be for you. Investing your returns can lead to higher growth not tied to a financial institution. Crypto cards offer a variety of cash back rewards in multiple currencies, allowing you to choose one that best fits your financial goals.

Remember, comparing cards to find the right one is essential, but with a little research and some effort, you can get started finding the right card for your crypto investment strategy today. 


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