Best Crypto Credit Cards

• Crypto.com Visa Card: Best for cashback rewards
• Nexo Card: Best for using your crypto as collateral
• SoFi Credit Card: Best for beginners and SoFi members
• Coinbase Card: Best for high no-staking rewards
• Brex Card: Best for business use
• Gemini Credit Card: Best for ease of use
• Venmo Credit Card: Best for existing Venmo users

In general, you can expect the crypto rewards from these credit cards to fall between 1% to 3% — which is about average when compared to the cashback rewards offered by other types of cards. The difference here is that you aren’t earning cash back; you’re earning crypto.

But while 1% to 3% is average, it’s worth noting that the Crypto.com credit card offers a higher rewards rate when accompanied by staking Crypto.com’s native CRO token. With staking, you’re making a long-term financial commitment in exchange for better terms and rewards.

• Card type: Visa debit card
• Special offer: None at this time

Crypto.com Debit Card Review: The Milk Man’s Take

Crypto.com labels its Visa card as a prepaid card, meaning you’ll need to fund it before using it. There’s no credit option at this time. This card functions like a debit card, and there are multiple selections to choose from — each with different benefits and rewards. Rewards are tied to staking the CRO token with Crypto.com. You’ll have to buy the tokens to stake, which may rise or fall in value.

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Staking CRO requires a commitment of 180 days. With staking requirements of hundreds or even thousands of dollars for reward tiers, it’s something to consider.

Current staking requirements and rewards:

• Midnight Blue
  • No staking requirement
  • No crypto rewards
• Ruby Steel
  • $400 USD CRO staking requirement
  • Crypto rewards of 1% cash back on purchases
• Royal Indigo & Jade Green
  • $4,000 USD CRO staking requirement
  • Crypto rewards of 2% cash back on purchases
• Frosted Rose Gold & Icy White
  • $40,000 USD CRO staking requirement
  • Crypto rewards of 5%
• Obsidian
  • $400,000 USD CRO staking requirement
  • Crypto rewards of 5% cash back on purchases

The Crypto.com card is available in all 50 states except New York.

Read our full Crypto.com review.

Apply now for the Nexo Credit Card

• Card type: Crypto-backed card that works with Nexo's instant crypto credit lines
• Card APR: 0% APR to 13.9% APR, depending on the purchase type
• Special offer: No minimum monthly payments

Nexo Card Review: The Milk Man’s Take

The Nexo Card uses a unique model based on collateral lending that gives you a credit line with a low APR and no credit check. The amount of credit you receive is determined by how much collateral you have deposited in your NEXO account.

The collateral can be any supported NEXO assets — such as BTC, ETH, USDC etc. — and your credit line can be up to 90% of the value of your collateral. If you fail to make your payments, or the value of your collateral drops due to market conditions, your collateral is liquidated in order to cover your credit line.

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With collateral-based lending, your collateral can be sold to cover the credit balance if the value of the collateral falls. Consider borrowing a small amount relative to your collateral to reduce risk.

Additionally, the card offers some big crypto rewards when you swipe it. The rewards rate differs by loyalty tier as follows:

• Platinum: 2% in NEXO Tokens or 0.5% in BT
• Gold: 1% in NEXO Tokens or 0.3% in BT
• Silver: 0.7% in NEXO Tokens or 0.2% in BTC
• Base: 0.5% in NEXO Tokens or 0.1% in BTC

As of July 2022, only citizens of the European Economic Area (EEA) can order a Nexo Card. To be eligible, you need to verify your identity and also meet the following criteria:

• For a virtual card: maintain a Portfolio Balance of at least $50.
• For a physical card: maintain a Portfolio Balance of at least $500 and a Gold or Platinum Loyalty tier.

Read our full Nexo review.

• Card type: Mastercard credit card
• Card APR: 15.99% to 27.99% purchases; 29.99% for cash advances
• Special offer: 3% back through the end of 2022 (direct deposit required)

SoFi Credit Card Review: The Milk Man’s Take

Some cards pay rewards in crypto, but SoFi pays in points, which you can redeem for crypto. With the SoFi credit card, you can earn 2% back on almost anything, with your rewards paid in points. Choose from options to redeem your points, including:

• Cash
• Crypto
• Fractional investment shares
• Payment on loan products

Note: SoFi does not currently support withdrawals to a wallet; SoFi holds custody of your crypto.

SoFi crypto rewards are redeemed through SoFi Invest, which is available in all states. Some trading restrictions apply to SoFi members in New York.

• Card type: Visa debit card
• Special offer: None at this time

Coinbase Debit Card Review: The Milk Man’s Take

By allowing you to spend your crypto via your card, the Coinbase debit card gives you an easy way to access the money you’ve parked at the exchange. You can also fund your card through PayPal or through a connected bank account, so there’s the option to spend dollars and crypto with this card.

The Coinbase card offers cash back rewards on crypto assets including Bitcoin, Ethereum, or up-and-coming tokens. These rewards rotate, but Coinbase automatically assigns a reward if you forget to change your pick.

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Coinbase rewards change often, so it can help to use your Coinbase card for larger purchases. This way, you don’t end up with six cents worth of an obscure token you earned buying coffee.

The Coinbase debit card is available in all states except Hawaii.

Read our full Coinbase review.

• How Do Crypto Credit Cards Work?

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  In general, crypto credit cards work much like a standard rewards credit card: you earn rewards for making certain types of purchases. The primary distinction is that the rewards you earn are paid in crypto or in points that can be redeemed for crypto, rather than earning miles or statement credits.

  For crypto credit cards, it’s important to note that you’re not spending your crypto or cash from your trading account — you’re borrowing money, just like with a standard credit card. However, there are some debit cards listed above that offer the same type of crypto rewards benefits, but you will be directly dipping into your crypto or cash holdings when you use those cards.

  Some of the credit card companies listed above will offer instant approval decisions with no impact on your credit score due to the initial soft-pull credit check. Once you’re approved, if you choose to go through with the rest of the application process, there will be a hard pull to your credit, which can impact your credit score.

  You can expect interest rates that are similar to what you’d get with traditional credit cards, with rates ranging from about 15% to 27%, depending on your credit score and macroeconomic factors which may affect interest rates. If you pay in full each month, you can avoid paying interest fees.

  Crypto credit cards typically offer a no-frills experience that allows you to earn crypto and other rewards while swiping your card for everyday expenses.

• How Do Crypto Debit Cards Work?

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  Crypto debit cards or prepaid cards work much like a debit card from your bank or a standard prepaid card. With a crypto debit card, you are using the cash or crypto in your account — just like you would be using the cash in your bank account when using a regular debit card online. The big difference is that you’re earning crypto rewards while spending.

  However, there are some factors to be aware of before you start using a crypto debit card. One of the most important considerations is that many types of crypto debit spending incur a taxable event. This is because in order to spend your crypto, it must first be sold on the open market, which often incurs a capital gains tax.

  To avoid the risk of a taxable event, you can fund your account with USD or a stablecoin alternative such as USDC or USDT. Stablecoins do not appreciate and are generally not subject to capital gains tax. Check with your debit card provider to see which funding options they offer.

  Prepaid cards, on the other hand, don’t allow you to spend your crypto. Rather, you must fund the card with USD through a bank account or with cash you hold on the exchange in order to spend. Many of the rewards these prepaid cards offer make this setup worthwhile.

• How to Choose the Best Crypto Rewards Card?

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  When narrowing down the options to find the best crypto credit card for you, consider your priorities and the benefits of each.

  How are rewards paid?

  Major tokens like BTC and ETH are almost always a better bet over platform-specific tokens like CRO and NEXO due to the latter’s price volatility.

  Sign-up bonuses and fees

  Consider sign-up bonuses or rewards tiers, and whether you’re willing to pay for an annual fee or interest on your purchases.

  Most crypto credit card options will have no annual fee, but you should still check the fine print before applying. An annual fee can put a damper on rewards earnings, and that’s particularly true if you aren’t planning to use the card often.

  Interest rate

  You may not plan to carry a balance, but life happens, and you may end up having a balance on your card at some point. So it could be beneficial to you to find the credit cards with the lowest APRs for your credit profile. If avoiding interest is the main priority, it may be helpful to consider a crypto debit card instead.

  Freebies and perks

  Some cards offer freebies, such as free memberships to Netflix or Spotify. Free is a good price, but be sure the card actually meets your needs and that the crypto rewards are going to be worth it before opening a card just to get access to these types of benefits. If the card offers other goodies, consider them extras rather than the primary selling point.

  Effect on credit scores

  It’s also worth noting that adding a new credit card to your credit profile will usually temporarily lower your credit score, which could cause you to pay more for any variable-rate debt, future loans, or other products such as insurance. Consider your needs carefully before applying.

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Some rewards tokens, such as CRO and NEXO, see limited trading (which can add to volatility). You might want to swap these tokens for cryptos with more demand, such as BTC or ETH.

• Card type: Mastercard credit card
• Special offer: None currently

Brex Card Review: The Milk Man’s Take

The Brex card is a business card, unlike most other cards on this list. Business expenses are usually far higher than personal expenses, so you may reap more rewards if your company uses this card.

Brex doesn’t offer a fixed percentage cash back but rather 1 point for every $1 spent. You can then redeem your points for crypto at a rate of $7 worth of Bitcoin or Ethereum per 1,000 points. You can also redeem them for fiat, miles, travel, or gift cards.

Note: You'll need a U.S. billing address to get a Brex card but can use it to purchase stuff anywhere Mastercard or Visa is accepted.

• Card type: Mastercard credit card
• Special offer: 10% cash back on up to $200 per month spent on Gas or EV charging

Gemini Card Review: The Milk Man’s Take

The Gemini credit card offers 3% cash back on dining, 2% on groceries, and 1% on every other expense. You get the rewards immediately after you swipe your card, unlike some other cards that make you wait a month or more to claim your rewards. You can claim your rewards in over 60 types of cryptocurrencies, including popular ones like Bitcoin and Ethereum.

This credit card is stylish. It comes in fine metal, and you can choose from three colors; black, silver, or gold. You can manage your purchases from a mobile app, which makes it more conveinent.

This card is available in all 50 U.S. states.

• Card type: Visa credit card
• Special offer: None currently

Venmo Card Review: The Milk Man’s Take

This card offers 3% cash back on the category of item that you spend most on, 2% on the next, and 1% on the rest. It’s good to see a credit card that gives rewards according to the owner’s spending habits, but the cash-back percentage isn’t as good as what you can get elsewhere.

It's compulsory to transfer your rewards to your Venmo account before transferring them elsewhere, which incurs fees. This makes the Venmo credit card best suited for people that already use the Venmo app for payments.

This card is available to all U.S. residents.

If you were already in the market for a new credit card, crypto credit cards can offer an easy way to build your crypto portfolio over time while giving you access to a line of credit. These cards are at least worth considering if you’re OK with the temporary drop a credit card can cause to your credit score, or with the other risks that can come with opening a new card account.

It’s worth mentioning, however, that the idea of “no risk, no reward” also applies to this situation. While you could earn valuable crypto rewards with this type of card, there are potential downsides — like the fact that staking for crypto rewards comes with the risk of falling token values. Your rewards could go to the moon, but they might turn into moon dust. Consider your risk tolerance before making any decisions.

Crypto credit cards should also be considered in the context of traditional non-crypto rewards cards. There are benefits and downsides to each which may apply depending on your situation:

• Traditional Card Rewards: Normally include a broad range of rewards such as miles, statement credits, streaming services, airport lounges, and much more. Many high tier credit cards also have significant annual fees and minimum spending amounts that are required. All traditional credit cards require a credit check and perks vary depending on the tier of card that you are approved for. Traditional card rewards sometimes include promotional periods of 12 or more months which award extra miles, more cash back, or lower APRs. These promotional rewards often require a certain initial spend in order to be triggered.
• Crypto Card Rewards: The cash back offered by many crypto rewards cards is comparable to that of traditional credit cards, but rewards are often capped after a certain amount of spend. Crypto cards also don’t usually include promotional bonuses that are as lucrative as those of traditional cards. On the flipside, though, crypto cards offer much greater flexibility when it comes to types of credit. The collateralized, low-APR model used by companies like NEXO is an innovative take on borrowing that’s not seen in the traditional finance space.

Crypto credit cards can be a great way to earn crypto-specific rewards. If air miles programs and traditional rewards programs aren’t your cup of tea, it may be worth it to take a closer look at what a crypto card can offer you. It could be a good alternative to your traditional rewards credit card options. Plus, with the option for crypto rewards debit and credit cards, there’s a card for nearly every type of crypto enthusiast.

• How do crypto card rewards work?

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  Crypto card rewards are usually paid monthly in the crypto that you choose. As you make qualifying purchases, you earn crypto rewards or points you can redeem for rewards. However, crypto choices may be limited. Some rewards cards only offer one type of crypto. The percent you earn back can vary as well, usually ranging from 1% up to 3%.

• Are crypto credit card rewards taxable?

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  The IRS views credit card rewards as “rebates”, which are not taxable. Note that this distinction only applies to crypto rewards. Some crypto debit cards like those from Coinbase and FTX allow you to spend your crypto balance by selling it. Any sale of cryptocurrencies generally constitutes a taxable event and often incurs capital gains tax that must be paid.

• What’s the difference between a crypto debit card and a crypto credit card?

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  While they often look similar or have the same branding, crypto credit cards and crypto debit cards differ in funding sources. When using a crypto credit card, you are borrowing money. With a debit card or prepaid card, however, you’re using your own money or crypto to make purchases.