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Best Crypto Credit Cards 2022

A crypto credit card allows users to spend cryptocurrency while also earning crypto rewards. As more crypto cards become available, consumer interest in earning rewards this way grows. So, in order to find the best crypto credit cards, we will look at a variety of aspects.

6 Finest crypto credit cards

Upgrade Bitcoin Rewards Visa - DCA profit

Upgrade Bitcoin Rewards Visa®

Good for flat rewards

Intro Offer

Earn $200 bonus on your Upgrade Card after opening a Rewards Checking account and making three debit card transactions*.

APR

8.99% - 29.99%

Annual Fee

$0

Reward Rates

1.5% bitcoin back on payments

Recommended Credit score

Excellent/Good Credit

Venmo Credit Card - DCA profit

Venmo Credit Card

Good for bonus rewards

Intro offer

N/A

APR

15.24% – 24.24% (Variable)

Annual Fee

$0

Rewards Rates

Earn 3% on top spend categories. Earn 2% on your second top category. Earn 1% on other purchases and Venmo transactions.

Recommended credit score

Good to Excellent

SoFi Credit Card - DCA profit

SoFi Credit Card

Good for redemption rewards

Intro Offer

$200

APR

13.74% to 25.74% APR

Annual Fee

$0

Reward Rates

SoFi direct deposits earn 3% cash back annually. Later, earn 2% cash back on purchases or paying down a SoFi loan. And also redeem for crypto.

Recommended Credit

Good to Excellent

Gemini credit card - DCA profit

Gemini Credit Card

Good for everyday rewards

Intro Offer

N/A

APR

13.24% - 24.24% (Variable)

Annual Fee

$0

Reward Rates

3% cash back on dining (up to $6,000, then 1%). A 2% grocery rebate is available. Other purchases receive a 1% rebate.

Recommended Credit score

N/A

BlockFi Rewards Visa® Signature Card - DCA profit

BlockFi Rewards Visa® Signature Card

Best for Bitcoin holders

Intro offer

N/A

APR

15.74% - 25.74% (Variable)

Annual Fee

$0

Rewards Rates

Earn 2% crypto on $30,000+ purchases annually. After $30,000 spent, rewards rate increases to 2% and resets on card anniversary. Every purchase earns 1.5% crypto.

Recommended credit score

Good to Excellent

Nexo Mastercard - DCA profit

Nexo Mastercard

For crypto loans

Intro Offer

$100

APR

0% APAR- 13.9% APR.

Annual Fee

$0

Reward Rates

Get up to 0.5% in crypto rewards when earning in Bitcoin. 2% 

Or change your reward type to NEXO to get even more.

Recommended Credit

N/A

What is a crypto credit card?

Cryptocurrency credit cards work likewise to typical credit cards, except that customers can earn rewards in the form of cryptocurrency tokens. Individuals can borrow money from the card issuer and pay it back with interest later. The credit card issuer gives cryptocurrency tokens as rewards.

Users should be cautious, as with any other financial instrument for borrowing, not to get into debt that they cannot manage to pay back. As these credit cards are a little more complicated.

The rewards are paid in digital currency, like Bitcoin. Visa and Mastercard support cryptocurrency, so you can enjoy flexible spending with enhanced rewards.

Crypto Rewards credit Card

As the crypto rewards credit cards functions transparently as a traditional credit card. You can use the card to buy anything you would usually buy with a credit card and get some of the cost back. 

Some, like traditional rewards cards, earn a flat rate on all purchases, while others offer bonus rewards in distinct categories, such as dining or groceries.

Crypto credit cards vs crypto debit cards

Bitcoin debit cards, also called crypto debit cards, can be loaded with cryptocurrency to make online and in-store purchases from non-crypto merchants. It allows people to make purchases and ATM withdrawals using Bitcoin, even if vendors and ATMs don't accept cryptocurrency.

Instead of exchanging Bitcoins for local currency, cardholders load a specified amount of crypto onto their debit card, which is converted at the time of purchase.

Crypto debit cards have been around for years, but crypto credit cards are a newer concept that allows users to instantly spend coin assets. It allows people who want to borrow against their cryptocurrency assets and spend them anywhere Visa or Mastercard is accepted.

Several crypto credit cards are in development that work like traditional credit cards but pay cashback or rewards in Bitcoin.

How do crypto credit cards function?

Crypto cards function as credit cards, so balances must be paid off monthly to avoid interest or late fees. The card issuer will pay for your transaction. The crypto card issuers convert your cryptos into fiat currency and pay you in that. Some cards let you buy things and pay off your card with cryptocurrency in your associated account.

When these cards convert loaned funds into fiat currency for the holder's spending, the issuing entity grants funds immediately or after a grace period in exchange for a percentage of credit. The client repays with cryptocurrency. It's risky because cryptocurrencies are volatile.

 If a customer refuses to pay the credit or the grace period runs out, penalties will be applied, and the client may be financially and legally precarious.

When researching crypto credit cards, ask how cardholders are rewarded. It may require extra steps compared to traditional cards, but it could be worth it for cryptocurrency investors. Companies that offer crypto credit cards or debit card require you to open an account, verify your identity, and deposit tokens or crypto or apply for the card for free.

Pros and cons of crypto credit cards

PROS

Crypto credit cards give rewards for purchases.
If the cryptocurrency or token price rises, its value rises.
 Automatically exchange crypto for fiat with each purchase.
Crypto cards are flexible like regular ones. Most are Apple Pay or Google Pay-compatible.
Frequently convert crypto to fiat. This avoids FX conversion fees.
Best crypto credit cards have no annual fees.

CONS

You can't control when you buy cryptocurrency, which affects returns.
You'll pay capital gains tax on cryptocurrency sales and transaction fees when redeeming.
Crypto is a volatile asset with high upside and downside risk.
You may be locked into one or a few cryptocurrencies, making it difficult to buy products or services.
Riskier than traditional rewards cards.

How to select the best crypto credit card?

A crypto card is a little more tricky than a traditional credit card, so here are a few points to consider before applying:

Privileges & Limitations

Several cryptocurrency cards have limited benefits, so if you travel frequently, you may pick more value in a travel rewards credit card. If you want to save funds on your purchases each month, a cash back credit card may be a better option.

State laws prevent everyone from using every crypto cards. Before applying, read the card's terms and conditions to see if you're eligible. 

For example, If you manage your cryptocurrency account outside the US, you may be violating international law, so keep your crypto rewards in the US.

Functionality & Taxes

Every crypto card has a unique portfolio of cryptocurrencies in which you can earn rewards. If you want to invest in a particular coins, make sure to check if the card and the exchange that supports it will allow you to do so.

One of several best aspects of a crypto card is the ability to raise rewards that may increase in value, while cash back and travel rewards may lose value due to inflation and devaluation, respectively. However, these rewards aren't taxable, whereas crypto is considered an asset that's taxable if sold. So if you intend to earn or sell a lot of cryptos, consult a tax pro.

6 Best crypto credit cards

Check out the best crypto credit cards of 2022 below:

1.   Upgrade Bitcoin Rewards Visa®

The Upgrade Bitcoin Rewards Visa is a convenient crypto credit card, or should we say bitcoin card? It earns Bitcoin instead of traditional rewards points. Though it does not provide any advantages over other cards, it is a suitable substitute if the other options are not suitable for you.

Although you can only earn bitcoin, it offers the same rewards rate as BlockFi, which is 1.5 percent back on all purchases. The Upgrade Bitcoin Rewards Visa is accepted everywhere Visa is accepted, but you cannot transfer bitcoin from the custodial Upgrade platform to your own wallet, limiting your "ownership" to price exposure. 

You can only keep your bitcoin rewards in the custodial account or sell them to redeem as a statement credit later. While this is a limitation, it is still one of the most simplified crypto rewards cards on the market right now.

Key Features
Allows to pay down balances with fixed monthly payments.
Bitcoin is added 1-2 statement periods after your payment, based on market prices.
8.99-29.99% variable APR.
$500-$25,000 credit lines.
When selling Bitcoin, a 1.5 percent transaction fee is deducted.
Not available in Hawaii, Iowa, New Hampshire, North Carolina, West Virginia, Wisconsin, and the District of Columbia.
Upgrade Bitcoin Rewards Visa® logo - DCA Profit

Upsides

Earn 1.5 percent back in Bitcoin when you make card payments. If you carry a balance, fixed monthly payments can save you interest.
There is no required minimum redemption amount to cash out
No annual fee
Fixed APR
Free foreign transaction fees.
With average credit, you can qualify.

Downsides

High APR.

Not available everywhere.
Limited flexibility in rewards

2.   Venmo Credit Card

The Venmo Credit Card deviates from one-size-fits-all rewards cards by providing extra cashback where you spend the most each month without the need for planning. Simply use the card, as usual, to earn a higher cashback rate on your top two categories.

The card also stays genuine to Venmo's roots as an app that allows friends to easily split costs. Its design includes a QR code that others can scan with their phones, so when you use your card to pay for a restaurant meal, you won't have to chase anyone down to get paid back.

It's also worth noting that the card's sign-up bonus frequently changes (assuming it happens to be offering one at all). The Venmo Credit Card is a cashback rewards card, but you can redeem rewards in crypto such as bitcoin, Ethereum, litecoin, or bitcoin cash every month.

There are no fees to convert credit card rewards to cryptocurrency. Venmo gives you the most cashback for your biggest purchases.

Key Features

Get 2% cash back on your second-biggest spend.
1% cash back on other purchases and P2P.
Card transactions can be split like in Venmo.
Applying requires a 30-day-old, good-standing Venmo account.
Five-card colors are available.
Apply friends' Venmo payments to your credit card bill or to your Venmo account to pay later.
3% cash back on transportation, travel, grocery, entertainment, dining & nightlife, bills & utilities, health & beauty, and gas.
On the front of your card is your Venmo Personal QR code, making it easy for friends to pay you.
Venmo Credit Card logo - DCA profit

Upsides

Directly connect to Venmo.
Allows split Venmo card purchases.
Using cashback, buy cryptocurrency fee-free.
Select cashback categories
No annual, foreign transaction fees.
Venmo adds cash rewards at the end of each statement period.
No need to pick categories; rewards are based on spending habits.

Downsides

Using a card in the Venmo app incurs a 3% fee.
Intro offer not given.
Reward cash redemptions only.
Tiered cash back could lose money.

3.   SoFi Credit Card

The SoFi credit card is intended to assist cardholders in saving, investing, and paying down debt by utilizing one of SoFi's many account offerings. 

If you set up direct deposit using SoFi, you'll get 3% cash back for a year. After that, earn 2% cash back on purchases that can be redeemed for investing, saving, or paying down an eligible loan with SoFi. Mastercard has no annual fee and some additional benefits but no welcome offer.

You can redeem points for cash at a rate of one cent per point towards your SoFi Money account, SoFi loan balance, or SoFi Invest account, which lets you invest in cryptocurrency. 

However, you should be mindful that when you buy crypto on SoFi, you are not buying real crypto. What you're really buying is an IOU that tracks the value of the cryptocurrency you're buying.

SoFi's crypto rewards can only be exchanged for cash. You can't trade or c.onvert your crypto, and you can't withdraw it to Coinbase. This makes SoFi less appealing to us for crypto rewards

Key Features

Coverage up to $1,000.
Free foreign transaction fees.
8.99-29.99% variabAllows reducing your APR by 1% after 12 on-time minimum payments.
World Elite Mastercard discounts include Lyft, Hello Fresh, DoorDash, and Fandango.
ShopRunner offers free two-day shipping at select retailers ($79 value).
SoFi Credit Card logo - DCA Profit

Upsides

2% unlimited rewards on purchases when used to invest, save or pay down a SoFi loan.
Flexible redemption options like debt repayment, checking and savings deposits, crypto, and more.
No yearly fee

Downsides

No bonuses to achieve maximum.
1% back on statement credits.
Lack of welcome offer.
High APR on balances.

4.   Gemini Credit Card

The Gemini Mastercard is a top crypto credit card. Gemini's bitcoin card is part of a new trend of crypto credit cards that offer cashback in bitcoin and other crypto-assets. It offers rewards in bitcoin, ether, and more than 60 cryptocurrencies. Crypto enthusiasts can earn 3% cash back on everyday purchases with the this card.

These reward rates are competitive, and the cryptocurrency selection is the largest. Instant rewards mean you don't have to wait until the end of the month to cash out. You can move rewards to your crypto wallet, a big plus.

Remember that crypto rewards can be more volatile than cash back or points, so think carefully before applying. It ranks among the best crypto credit cards on our list.

Key Features

Up to 3% back in cryptocurrency, no annual fee

Available in all 50 US states.
Regulatory-compliant bitcoin exchange.
BTC, ETH, Zcash, and Gemini coin supported.
Most crypto cards are debit, but Gemini Mastercard is an actual credit card.
Gemini Credit Card logo

Upsides

Use Mastercard anywhere.
Multiple rewards.
Bonuses on daily spending.
Free foreign transaction fees.
No annual fee
No exchange fees to acquire rewards

Downsides

On hold.
No guaranteed exchanges
Lack of welcome bonus.
High APR.

5.   BlockFi Rewards Visa® Signature Card

BlockFi Rewards Visa Signature card offers cryptocurrency rewards beyond bitcoin. It also lets you move crypto into your wallet, which will appeal to crypto enthusiasts.

The Securities and Exchange Commission has ordered BlockFi to stop offering 1.5 percent back on every purchase as interest in a linked BlockFi Interest account. As the legal dust settles, there is a risk of abrupt changes in crypto products.

It's a Visa Signature credit card, so it comes with perks like access to Visa's Luxury Hotel Collection, rental car discounts, and more. If you apply for the BlockFi card, read the cardholder agreement for Visa Signature perks.

Key Features

No credit checks are required.
Referring friends can earn bonuses. Every referral earns $30 in bitcoin.
Pay bills, buy crypto, and withdraw fiat at any VISA merchant, outlet, or ATM.
You can only be paid in one cryptocurrency at a time, but you can change it each payout period.
Once your crypto rewards are in BlockFi, you can hold, trade, or move them to another wallet.
0.25 percent back in Bitcoin on eligible BlockFi trades (up to $500/month).
BlockFi Rewards Visa® Signature Card logo - DCA Profit

Upsides

Earn crypto for spending.
After spending $30,000 in a year, get 2% back in crypto.
Free foreign transaction fees.
No yearly fee
Extra bonuses and rewards in Bitcoin.
The Visa Signature advantages.
Transfer crypto to a wallet or exchange.
Get pre-approved

Downsides

A highly-priced APR.
Crypto rewards vary.
No balance transfer.
Limited to Bitcoin only.
Not available to residents of New York.

6.   Nexo Mastercard

The Nexo MasterCard crypto credit card lets users borrow up to $2 million in crypto. You secure the loan with your crypto in your wallet, so you can only borrow less than that amount. It supports 20 cryptos and also contributes to our list of the Best Crypto Credit Cards.

Nexo's credit card lets users earn 2% back on purchases made in any 15+ Nexo-supported digital assets. The card can be helpful for anyone who wants to access their crypto portfolio without selling the assets. The Nexo app offers cardholders valuable features.

Nexo, such as BlockFi, lets you deposit digital assets to earn a yield or take a loan without selling them. The Nexo card has no annual fee and lets you freeze and unfreeze it with a tap and create free virtual cards for online purchases.

Key Features

2% cash back on card purchases.
Pay interest in crypto or fiat.
Virtualize cards for online use.
Everywhere-accepted MasterCard is accepted at 40 million stores and ATMs worldwide.
It has iOS and Android apps that let you freeze and track card transactions. If needed, change the ATM pin.
A loan application requires a wallet, KYC, and crypto. You prequalify.
Nexo logo - DCA Profit

Upsides

0 Card fees
Smooth Nexo app.
Instant No-credit-check loans.
Apple pay-enabled.
No monthly minimums.
Tap-to-freeze cards.
2% cashback on everything.
Safer online shopping with virtual cards.

Downsides

Only the Nexo platform allows users to borrow.
Mastercard has fewer retail locations than Visa.
Still in the early access phase.

Frequently asked questions

Which crypto card is best?

Amongst the most credible cryptocurrency credit cards available is the eagerly awaited BlockFi Bitcoin rewards credit card. It earns 0.25 percent in crypto on all eligible transactions, 1.5 percent on every purchase, and earn 2 percent after $30,000 in annual spending.

Is there a cryptocurrency credit card?

Yes, as we listed above, there are now crypto credit card choices available for those who want to borrow against their crypto assets and spend them anywhere Visa or Mastercard is accepted.

Which credit cards are crypto friendly?

Many cryptocurrency-friendly investment platforms, such as SoFi credit card, BlockFi rewards Visa ® Signature card, and BlockFi introduced credit cards, and credit card rewards may soon be an option for engagement schemes. 

Instead of points and miles, more adventurous investors may soon earn rewards redeemable for specific cryptocurrencies.

Is Using a Crypto Credit Card Worth It?

Experts are unsure of crypto credit card value in comparison to rewards cards. These cards allow you to earn cryptocurrency rewards, eliminate the need to buy virtual currency with cash, and provide a low-risk entry point into crypto investing. 

It can be considered a leading advantage. However, cardholders should expect fees from both sides of a cryptocurrency and credit card transaction.

Bottom line

Even though the popularity of cryptocurrencies is still a bit of a way off, it has gotten much closer. This article examined crypto credit cards, including the yet-to-be-released Gemini Card. There are now multiple crypto debit cards and credit cards to consider, whereas these options were difficult to obtain only a few years ago.

While the six discussed above are our best choices, there are many more to acknowledge. Despite this, almost all of them allow you to earn rewards when you purchase their goods and services, or even virtual currency.

Nexo Card will meet your needs for loans and related cash backs on card purchases. Unlike all other cards on the market today, the upcoming Gemini credit card will offer instant cashback rewards on purchases. choose what is best for you considering the flexibility, fees, taxes, rewards and drawbacks.


Read more:  Best Cryptocurrency Portfolio Tracker 

                        6 Best Crypto Debit Cards