6 Best Crypto Credit Cards Of December 2023
- Coinbase Card: Best For High Rewards
- Nexo Card: Best For Using Your Crypto As Collateral
- Brex Card: Best Crypto Credit Card For Business
- Crypto.com Visa Card: Best For Cash-Back Rewards
- Gemini Credit Card: Best For Ease Of Use
- Venmo Credit Card: Best For Existing Venmo Users
There’s only one surefire way to make money in crypto–and that’s when you get your crypto for free. Crypto credit cards often pay rewards between 1% and 3% — 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 (free) crypto. Cowabunga!
Most crypto rewards top out at 3% or less, but the Crypto.com card pumps up the jam with rewards of up to 5% back on purchases. No, really. It’s tied to staking rewards, which we’ll cover a bit later.
We gathered the best deals in crypto-land for our crypto credit card review and detail how each one works below.
Coinbase Credit Card
So, you’ve got crypto stacked, but you’re a bit light on cash. No worries. Coinbase’s crypto Visa card lets you spend your crypto just like cash — while earning crypto rewards as well.
If you don’t want to spend your crypto, then don’t. You can fund the Coinbase debit card with PayPal or a connected bank account. Either way, you’ll earn rewards as you swipe or tap or whatever the kids do these days to pay for stuff.
The Coinbase card works like a Bitcoin debit card, letting you spend or earn Bitcoin or other cryptos. Get crypto rewards in BTC, ETH, or other cryptos. These rewards rotate, but Coinbase automatically assigns a new reward if you forget to change your pick.
- Zero crypto spending fees
- No annual fees
- Spend in over 160 cryptos
- Choose rewards with up to 4% back
- The Coinbase card currently has an application waitlist
- If you spend crypto, you might have to pay capital gains tax (if you had a gain)
The Coinbase debit card is available in all states except Hawaii.
Coinbase’s debit card is more flexible than your double-jointed friend who can bend their elbows backward. You’re not stuck spending your crypto (unless you want to). You can also use your card to tap your PayPal account or bank account, earning crypto rewards for purchases you would have made anyway. We also like that it’s not a credit card, so the interest charges won’t grind your rewards down to dust.
- People who don’t want a credit card or credit checks.
- People who hold crypto on Coinbase’s exchange.
- People who want debit card access to PayPal funds (getting free crypto in the process).
- Crypto.com Card: The Coinbase card and Crypto.com card both use your own money for funding rather than credit. One big difference: Coinbase doesn’t make you stake anything to earn rewards. Groovy.
- Gemini Card: Okay, so Gemini card is a credit card, and the Coinbase card is a debit card. But these cards have two things in common: rewards that are easy to earn and on-exchange storage of the crypto you earn. Your crypto rewards go right to your trading account. No fussing around.
Nexo Credit Card
Can you borrow from yourself? Well, yes. Nexo makes it pretty easy, in fact. And instead of getting your loan in weird crypto tokens you can’t spend anywhere, you’ll get a Mastercard that’s accepted pretty much everywhere.
Here’s how it works: You deposit crypto as collateral, and then you can borrow against your crypto as needed just by swiping your card.
Nexo’s card works like a Bitcoin credit card that lets you borrow against your BTC stack or any other supported crypto asset.
Purchases made with your card earn crypto rewards in the form of Bitcoin or Nexo’s own token (NEXO). You can borrow up to 90% of your collateral’s value, depending on which crypto you borrow.
Note: Only available in the European Economic Area (EEA)
- Rewards of up to 2% in NEXO tokens or 0.5% BTC, depending on the card tier
- No minimum repayments or fees
- APR as low as 0%
- You keep ownership of your crypto
- Limit is tied to Nexo’s Instant Crypto Credit Lines
- Must be a citizen of the European Economic Area (EEA) to qualify
- You must maintain collateral in your account that exceeds the amount that you borrow
- Your collateral may be liquidated (sold) during volatile market periods
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.
Crypto loans aren’t new, but Nexo’s approach is different than the others. Instead of getting your loan proceeds in tokens or magic beans, you get a convenient card (that pays rewards). You also get an open line of credit based on your collateral, so you can tap your credit as the need arises. We also like that you can shut off the card to keep creeps from using it if you misplace it.
- People who want to borrow without credit checks.
- People who already use Nexo and the NEXO token.
- People who prefer an open line of credit to fixed loans.
- Gemini Card: Nexo uses your crypto as collateral, while Gemini is a credit card. But both options let you earn rewards in Bitcoin (if you’re into that sort of thing). And if you’re in the US, you won’t be able to use Nexo’s card anyway. Sorry, we don’t make the rules.
- Brex Card: If you’re a business mover and shaker, the Brex card makes a better choice than most crypto cards on the list. But you’ll need some cash or decent revenue to qualify. Much like Nexo, you collateralize your own credit line, albeit with cash rather than crypto.
Business expenses add up faster than consumer expenses. When was the last time you bought 20 Macbooks for your home? Some consumer crypto rewards cards with lower spending or credit limits aren’t up to the job.
Brex fixes that. With Brex’s crypto credit card for business, you’ll earn points you can redeem for Bitcoin or Ethereum. Spend $1, and you get 1 point. Earn 1000 points, and you get $7 in crypto. That works out to 0.7% back in crypto rewards. You’ve got other choices too. Redeem for cash, miles, travel, gift cards, or (of course) crypto.
- No annual fee
- No personal guarantee
- No APR for 12 months
- Complex rewards system
- No revolving balances
- Credit limit based on deposits
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.
Other cards can work in a business context. Maybe. But it’s a forced fit at best and might get you into trouble with the tax man. Brex specializes in business financial services, from banking to the Brex card. You can connect your account to popular accounting software, like Xero or Quickbooks, and even set up virtual cards for your team. (Yes, you’ll earn points for their purchases too). Kaching.
- Businesses with $1 million in annual revenue.
- Businesses that offer spending accounts to team members.
- Startups that have cash ($500,000) but limited credit history.
- Nexo Card: The Brex card uses your own cash to back your credit line– and so does Nexo (except they use your crypto). If you’re in a strong cash position, both platforms let you borrow against your assets, but with Nexo, you’ll need to buy some crypto with that cash.
Crypto.com Credit Card
Crypto.com slam dunks on everyone with waaayyy higher crypto rewards. But there’s a crypto-related catch to reaching those lofty heights: The Crypto.com card ties its debit card rewards to staking the CRO token, the native token of the Cronos blockchain. The more you stake, the more you can earn in rewards.
At the top tier ($400,000 staked CRO), you’ll earn 5% back. At the lowest staking tier ($400), you’ll earn 1% back. There’s another tier below that pays, well, nothing. Top tiers come with other goodies in addition to rewards, such as Spotify, Netflix, Amazon Prime, and more.
Note: The Crypto.com card is a prepaid card, so you’ll have to top it up if the balance gets low.
- Multiple tiers of rewards that let you grow into higher rewards
- Rewards of up to 5% back, depending on the tier
- Free Netflix, Spotify, and Amazon Prime on top tiers
- High staking requirements for top tiers
- Rewards are only paid in CRO, a utility token unique to Crypto.com
- Staked CRO does not earn staking rewards
The Crypto.com card is available in all 50 states except New York.
Crypto.com’s rewards card skews toward crypto high-rollers—and that’s a good thing because most other cards use a one-size-fits-all approach. If you’re in a position to stake higher amounts, you can earn 3% to 5% back on purchases and enjoy a bevy of free goodies, including free streaming services and free membership in Crypto.com Private. It doesn’t matter how much money you have, everyone still likes free.
- People who can stake $400 and up ($40,000 or $400,000 for top tiers).
- People who use streaming services, Airbnb, or travel services.
- People who invest in CRO for the long term
- Coinbase Card: Like Crypto.com’s card, Coinbase gives you rewards for spending your own money. Crypto.com offers higher rewards at the top tiers, whereas Coinbase treats everyone the same. You also don’t have to stake anything on Coinbase to earn rewards.
- Venmo Card: Venmo’s card is a credit card, rather than a prepaid card like Crypto.com’s offering, but the rewards are within easy reach with Venmo. And the Venmo card fits your lifestyle like a glove, paying the highest rewards for the things you buy most often.
Gemini Credit Card
If you’re a person who eats out or buys groceries, Gemini is worth a closer look. Yes, that means all of us. The Gemini crypto rewards credit card uses a tiered rewards system that pays 3% cash back on dining, 2% on groceries, and 1% on every other expense.
And you won’t have to wait around growing a beard before you can claim your rewards. You get the rewards immediately after you swipe your card. Choose any of the 60 types of cryptocurrencies, including popular picks like Bitcoin and Ethereum.
- No annual fee
- No fees on foreign transactions
- Up to 3% cashback
- You can manage your expenses from a mobile app
- No intro APR discount
- No welcome bonus
This card is available in all 50 U.S. states.
Gemini did something cool with this card. They took the numbers off it. Really. If you forget your card at your fave restaurant (where you were earning 3% back in rewards), you don’t have to worry about someone buying Louis Vuitton bags and custom Harleys online with your card. And the rewards just make sense. We all eat, we all shop for groceries, and that’s where you’ll find the biggest rewards.
- People who eat out (3% rewards on dining)
- People who buy groceries (2% rewards on groceries)
- People who want their crypto rewards now or sooner
- Coinbase Card: Coinbase is a debit card, so you’re spending your own money rather than borrowing. But both cards send you rewards directly to your trading account so you can turn your rewards into cash, trade for another crypto, or save up for a rainy day.
- Venmo Card: The Venmo card is a credit card, like the Gemini card. The difference: you can use your Venmo rewards for anything. Pay your lawn-mowing guy, send a few bucks to a friend – or (of course) invest in crypto.
Venmo Credit Card
You can Venmo money to your mom, friend, or hair stylist, and now you can Venmo yourself some rewards with Venmo’s credit card. You should know upfront that this isn’t a crypto rewards credit card, per se, but it’s super easy to make it into a crypto Visa card.
Here’s how: Use your rewards-supercharged Venmo balance to buy crypto on the Venmo app.
Venmo’s card offers 3% cash back on the category of item that you spend most on, 2% on the next, and 1% on the rest. You get rewards that match your actual spending habits. Transfer your rewards to your Venmo account and start filling your bags with Bitcoin, Ethereum, or other select cryptos. See, you just turned Venmo’s card into a crypto Visa card with some of the highest rewards out there. Ingenious.
Note: Venmo offers a debit card as well, but the debit card doesn’t earn crypto rewards.
- No annual fee
- Rewards adapt to your spending habits
- No fees on foreign transactions
- Must transfer rewards to your Venmo app before cashing out
- No intro APR discount
- Account must be at least 30 days old to apply
This card is available to all U.S. residents.
Venmo’s card doesn’t offer teaser rates on some weird category of purchases that you won’t buy anyway. You earn the most on the category of items you always buy. Maybe that’s groceries. Maybe it’s beanie babies. It’s also super easy to get started because you probably already have Venmo, right?
- People who have a Venmo account and use Venmo as a verb
- People who like a simple rewards program that doesn’t require a strategy
- People with good to excellent credit (690 credit score required)
- Gemini Card: If you need a credit card rather than a debit card, there are two main choices: Gemini and Venmo. Gemini pays you in crypto rewards fast. Venmo makes you redeem your points for crypto, but you can use your Venmo points for just about anything. Just don’t end up in jail because of what you bought, OK?
- Nexo Card: If you really need to borrow (and you live in the European Economic Area), Nexo lets you borrow to your heart’s content–as long as you have crypto collateral to back the credit line. If you live in the US and need a credit line with crypto rewards, look at the Gemini card.
Compare Crypto Credit Cards
|Credit Card||Our Pick For||Card Highlights||Rewards Rate|
|Coinbase Card||High no-staking rewards||Spend in 100+ cryptosCan fund the card via PayPal or bank account to spend fiatAvailable in all 50 states except Hawaii||Up to 4% back|
|Nexo Card||Using crypto as collateral||Low APRsNo credit checkNo minimum repayments or fees||Up to 2% NEXO or 0.5% BTC|
|Brex Card||Business use||No annual feeCan retrieve points for crypto, fiat, travel, or gift cardsNo APR for 12 months||1 point per $1 spent|
|Crypto.com Visa Card||Cashback rewards||Multiple reward tiersAvailable in all 50 states except New YorkFree Netflix, Spotify, and Amazon Prime on top tiers||Up to 9% back|
|Gemini Credit Card||Ease of use||No annual feeOffers 3% cash back on dining, 2% on groceries, and 1% on every other expenseEarn rewards immediately||Up to 3% cash back|
|Venmo Credit Card||Existing Venmo users||No annual feeOffers 3% cash back on the category of item that you spend most on, 2% on the next, and 1% on the restIs available to all US residents||Up to 3% cash back|
How Do Crypto Credit Cards Work?
A crypto rewards credit card works much like a standard rewards credit card: You earn rewards for making certain types of purchases.
The main difference 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. Simple enough.
Be careful, though. With a crypto rewards credit card, you’re borrowing money — which isn’t always a bad thing. But if you don’t pay the balance in full, you’ll have to pay interest (which will be waaayyy higher than the rewards you can earn).
Expect interest rates similar to what you’d get with traditional credit cards, with rates ranging from about 15% to 27%. Yowsa.
By comparison, most rewards top out at 3%, so it doesn’t make sense to carry a balance just to earn some rewards.
Ignore the crypto part for a moment and focus on the credit card part because all credit cards work similarly. Credit cards mean credit checks, and those can impact your credit score.
You might see some marketing lingo about instant approvals on various sites. That just means they do a soft pull on your credit. The card issuer peeks at your credit history, but it’s not a request for credit — not yet.
If you decide to go through with the crypto credit card application, that’s when they do a hard pull, which is a request for new credit. The hard pull will ding your credit score, but the effects fade over time — as long as you don’t keep applying for new credit. Easy, cowboy.
The one exception above is the Nexo card. Nexo won’t pull your credit because the credit line is backed by your own crypto you deposit as collateral. Your crypto does the talking rather than a credit application.
But all crypto rewards cards aren’t the same. Some are really debit cards — which means you’re spending your cash or crypto. Others work more like prepaid cards, meaning you have to fund them with cash and top them up when the balance gets low.
How Do Crypto Debit Cards Work?
Crypto debit cards or prepaid cards work much like a debit card from your bank, meaning you’re not borrowing. With a crypto debit card, you’re 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.
The big difference compared to a bank debit card is that you’re earning crypto rewards while spending.
You’re not borrowing, and that’s good. But you might be racking up a tax bill. Here’s how: When you spend your crypto, the exchange sells it on the open market–giving you cash in return. Neato.
Except… that this could mean you’ll have to pay capital gains tax (assuming you have a gain since you bought it).
But there’s a workaround to the tax conundrum. You can fund your account with USD or a stablecoin alternative such as USDC or USDT. Stablecoins track the value of fiat currencies, like USD, so there’s no gain and, therefore, no taxes. Coinbase, for example, lets you fund your card with USD or USDC.
Prepaid cards work differently. You’ll have to fund your card with USD through a bank account or with the assets you hold on the exchange. Check the rewards; it might be worth it for your situation. On the plus side, you limit your loss exposure to the funded amount of the card. If your card is lost, you can only lose the amount you’ve put on the card.
How To Choose The Best Crypto Card For Rewards
Okay, so we all like crypto rewards, but how do you choose the right card?
Let’s be real. If the card doesn’t fit your lifestyle, it’s not worth it, especially if you might suffer a bruised credit score for applying. But there are also some great crypto card deals, depending on your needs.
Here are some things to consider before you start clicking on “apply now” buttons.
How Are Rewards Paid?
In-demand cryptocurrencies like BTC and ETH are almost always a safer bet compared to platform-specific tokens like CRO and NEXO. The price of smaller market cap tokens can be blown around like the dandelion fluff from your neighbor’s lawn.
Three percent in rewards paid in a token that loses half its value isn’t really 3% anymore, right?
Sign-up bonuses are cool; we all like free stuff. But sign-up bonuses may come with a hidden price in the form of lower rewards, higher interest rates, or annual fees.
Do the math based on how you expect to use the card. You might be better off buying your own “free” toaster with the savings you’ll see from a card that has lower carrying costs.
Is There An Annual Fee?
Most crypto credit cards don’t have an annual fee, but you should still check the fine print before applying. Paying an annual fee to earn rewards is like towing a boat with a bicycle. You might not get as far ahead as you’d hoped.
If you aren’t planning to use the card often (thereby earning more rewards), an annual fee can be a show-stopper. You might even lose money after fees.
Maybe you don’t plan to carry a balance, but life happens, and you might end up with a balance on your card at some point anyway. So, it’s always prudent to look for lower rates if you’re considering a crypto credit card.
If avoiding interest is the main priority for you, consider a crypto debit card instead.
Freebies And Perks
Rewards are just one of many potential crypto credit card benefits. Some crypto cards offer freebies, such as free memberships to Netflix or Spotify. Free is a good price.
Do freebies determine which are the best crypto credit cards? Not always. But look at the big picture. Be sure the crypto credit card you’re considering meets your needs and doesn’t cost you in other ways, like low rewards or high fees.
Think of freebies as extras rather than the main selling point.
Effect On Credit Scores
Adding a new credit card to your credit profile will temporarily lower your credit score. That’s just how it works. The result: You could pay more for any variable-rate debt, future loans, or other products like insurance.
Millions of people fall victim to credit card fraud every year, and crypto cards can suffer the same fate.
They’re cards with numbers on them, just like the rest.
Credit cards are safer than debit cards in this regard because it’s the credit card issuer’s money that’s on the line unless they can prove you made the purchase. With debit cards, if someone gets your card or the card info, the money is probably gone with the wind.
A crypto credit card is a safer way to go regarding fraud concerns.
Should You Get A Crypto Credit Card?
Are you already in the market for a new credit card? If so, you can consider crypto credit cards. Rewards offer an easy way to build your crypto portfolio over time while giving you access to a line of credit.
Two birds, one stone.
These cards are worth considering if you’re OK with the temporary drop a credit card can cause to your credit score and if you manage your credit well. If you’ll carry a balance, watch out: the interest will cost much more than you’ll earn in rewards.
You’ll also have to weigh the potential future value of the crypto rewards. Your crypto rewards could go to the moon, but they might turn into moon dust. It’s like getting a lottery ticket as a gift in the Secret Santa thingie at the office. Feeling lucky?
Consider crypto credit cards in comparison to traditional non-crypto rewards cards. Both require a credit check, and annual percentage rates typically fall in a similar range, meaning you probably won’t save money on interest either way. Introductory APR deals are less common with rewards cards.
It really comes down to which types of rewards blow your hair back.
- Traditional Card Rewards: You’ll get a choice of miles, statement credits, streaming services, or points you can redeem for merchandise. Free toasters, anyone?
- Crypto Card Rewards: You’ll get your rewards in crypto or points you can redeem for crypto. The percentage you can earn in cashback rewards with most crypto rewards credit cards is comparable to that of traditional reward credit cards. As a caveat, crypto cards also don’t usually come with introductory offers like you might find with traditional cards. It’s all about the crypto, yo.
Either way, they’re after your money in the form of interest payments (using rewards as bait). But if you play the game right, you’ll get their money instead.
Final Thoughts On Crypto Credit Cards
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, maybe crypto rewards are more to your taste.
But watch out for the interest: that’s the gotcha. If you’re interest-averse, pay your balance off in full each month or consider a crypto debit card instead.
Frequently Asked Questions
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 or two types of crypto. The percentage you earn back can vary as well, usually ranging from 1% up to 3%.
The IRS views credit card rewards as “rebates” which are not taxable because they require a purchase. In effect, it’s like using a coupon when you shop.
However, this tax treatment only applies to crypto rewards. Some crypto debit cards, like the Coinbase card, allow you to spend your crypto balance. In these transactions, Coinbase sells part of your crypto and funds your card with an equivalent amount of dollars to spend instead.
A cryptocurrency sale is a taxable event. If you had a profit when you “spent’ your crypto, you have a capital gain and the tax bill that comes with it.
They look similar, but 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.
Crypto credit cards are just as safe (or unsafe) as traditional credit cards. They come with the same risks as well. Your credit card information can be stolen, leaving you a mess to straighten out with the credit card company. With all credit cards, it’s important to safeguard your card and use credit wisely.
Several credit cards now offer crypto rewards. Businesses can use the Brex card (covered above) to earn crypto for everyday business purchases. Consumers can consider the Venmo card or Gemini card (also covered above), both of which pay the highest rewards on purchases most people make regularly.
Although there’s no Coinbase crypto credit card, Coinbase does offer a crypto debit card. The Coinbase crypto visa card offers two benefits for crypto holders.
- Spend your crypto like cash: You can use your crypto on Coinbase to fund your crypto card and spend your holdings anywhere that takes Visa.
- Crypto rewards: Each month, Coinbase gives you a choice of rewards paid in crypto for purchases you make with your card. Your crypto reward options rotate each month.
Crypto credit cards work much other credit cards regarding how they can affect your credit score.
- Applying for new credit: When you apply for new credit, your credit score can drop temporarily. A crypto credit card application is a request for new credit.
- Increases in credit usage: If using your crypto credit card causes an increase in the percentage of your available credit used, your credit score can be impacted.
- Your average age of credit: Credit rating agencies measure the average age of your credit. New credit accounts reduce the average age of credit, which can affect your credit score.
- Your payment history: You’ll need to pay your crypto card statement on time. Just like with other credit cards, crypto cards with a late payment can reduce your overall credit score.
Like all credit cards, crypto cards are regulated, so issuers must follow Know Your Customer (KYC) requirements, including proof of identity. None of the providers in our crypto credit card review offer a crypto credit or debit card without identity verification.