If you’re looking for a crypto-friendly way to spend your hard-earned crypto, you might want to consider getting a crypto credit card. These cards allow you to spend your Bitcoin, Ethereum, and other cryptocurrencies in the same way as regular fiat currencies.
In this blog post, we will rank and review the seven best crypto credit cards of 2022. We’ll look at factors such as crypto rewards, fees, supported cryptocurrencies, withdrawal limits, and APR. So whether you’re looking for a card that offers great crypto rewards or one that has low fees, we’ve got you covered!
Overview of Bitcoin Credit Cards
Below is our list of the 7 best crypto credit cards based on the rubric mentioned above.
1) Gemini Crypto Rewards Mastercard – Best Crypto Credit Card of 2022
Overview:
With the benefits of Mastercard and world class security, we’ve ranked the Gemini Crypto Credit Card as the best crypto card of 2022. With no annual fees and a large selection of crypto, the Gemini card allows users to earn rewards in all of the well-known cryptocurrencies. To see a more detailed review of this card, read “Gemini Crypto Rewards Credit Card.“
Crypto Rewards Program:
Gemini offers up to 3% cash back in crypto rewards. Here’s how it breaks down. They offer 3% back on dining, 2% on groceries, and 1% on other purchases. Your crypto rewards are deposited immediately in your Gemini account.
Annual Fee:
There is no annual fee for the Gemini card. You will need to create a free Gemini account before applying for the credit card. There are also no foreign transaction fees, or exchange fees to redeem rewards. However, there may be fees applied when you choose to sell the crypto that you have accumulated through their crypto rewards program.
Supported Cryptocurrencies:
Gemini users can earn rewards in 60+ different cryptocurrencies. This is one of the reasons why we rank them the best.
Withdrawal Limits:
Since the Gemini crypto rewards credit card is a credit card, users can utilize cash advances if they choose. Gemini charges a cash advance fee of 3% or $10, whichever is greater.
APR:
The APR range for the Gemini Credit Card is 14.49% – 25.49%.
2) BlockFi Rewards Credit Card
Overview:
The BlockFi Visa Card is one of the best crypto credit cards of 2022 due to its high yielding rewards program, as well as its low fees. The BlockFi Visa Signature Card supports over 70,000 users and has become one of the more popular cards since its birth in 2021. Check our in-depth review, “BlockFi Credit Card Review.”
Crypto Rewards Program:
The BlockFi Visa Card is one of the more popular crypto credit cards because of its rewards program that offers up to 10% back in crypto rewards. You can even earn bonus rewards by staking your rewards in the BlockFi app.
Through a service called BlockFi offers, users can earn up to 10% on certain brands and companies. To see which companies apply, you’ll need to download the BlockFi app.
Annual Fee:
The BlockFi card has no annual fees and no foreign currency fees. Crypto cards with no fees are usually at the top of our list.
Supported Cryptocurrencies:
BlockFi supports 15+ crypto currencies including popular cryptos such as Bitcoin and Ethereum. Users can also opt to earn rewards in a select few stable coins.
Withdrawal Limits:
The BlockFi card doesn’t offer any sort of withdraws nor cash advances.
APR:
BlockFi offers a service called BlockFi Loan where you can loan money for crypto purchases with an APR as low as 4.5%.
3) Upgrade Bitcoin Rewards Visa Card
Overview:
The Upgrade Visa Card is one of the best options for bitcoin rewards. Being a Visa Signature Credit Card, the Upgrade Bitcoin Rewards Card is a very versatile and easy to use card. Along with their app, users can easily track the bitcoin rewards that they have earned.
Crypto Rewards Program:
Upgrade’s rewards program is based off of the user paying back their accumulated credit debt. When you use the Upgrade Bitcoin Rewards card, you are essentially borrowing money from Upgrade with a fixed interest rate attached to it. Through Upgrade’s app, you can set up a payment plan to see the timeline of how you will repay the debt.
As you repay your credit card debt, you will earn 1.5% of your repayment back in the form of Bitcoin.
Annual Fee:
There are no fees associated with the Upgrade Bitcoin Rewards card.
Supported Cryptocurrencies:
Bitcoin is the only supported currency. Although this is the smallest selection of all of the exchanges, Bitcoin is the most popular cryptocurrency which allows for a lot of upside on your returns.
Withdrawal Limits:
There is no withdrawals or cash advances with this card.
APR:
Upgrade’s card has an average APR of 18%.
4) Sofi Rewards Mastercard
Overview:
The Sofi Credit Card is one of the more popular cards because it is backed by Sofi’s strong financial network. Sofi offers tons of services such as a crypto wallet, student loans, and loan refinancing. Featuring the versatility of MasterCard, the Sofi Card is a great choice for anyone looking for a reliable crypto card. To learn more about Sofi’s card, read “Sofi Credit Card Review.“
Crypto Rewards Program:
Sofi’s rewards program is based off of a points system. For every dollar you spend, you earn 2 rewards points. Each point can be cashed in for $0.01 of cryptocurrency. Sofi’s rewards structure is a unique structure that allows users to choose when to redeem their points.
Annual Fee:
There is no annual fee associated with Sofi’s card; however, there are late payment fees and balance transfer fees.
Supported Cryptocurrencies:
Sofi supports 30+ cryptocurrencies that users can purchase by transferring their rewards points into any of these digital currencies.
Withdrawal Limits:
Sofi allows users to perform cash advances. The APR for cash advances is 18.49%. The cash advance fee is the greater of $10 or 5%.
APR:
The APR range is 14.49% – 26.49% for balance transfers and purchases.
5) Crypto.com Visa Card
Overview:
Crypto.com has become one of the largest crypto trading platforms across the globe, so we aren’t surprised to see their card on this list. The Crypto.com is supported by Visa’s network making it a very versatile card.
Crypto Rewards Program:
The Crypto.com Card is a prepaid card, which is essentially a debit card. Users can add funds to their card from a checking account, crypto wallet, or via another credit/debit card. Crypto.com offers different Visa cards that all have different rewards perks.
Some cards offer reimbursements for streaming and music subscriptions, while others just offer a general percentage based rewards system. Crypto.com’s rewards system can be tricky to navigate, so before applying, be sure you understand exactly how their rewards structure works.
Annual Fee:
There is no annual fee for this card, but there are fees associated with ATM withdrawals, transfers, and card inactivity. The Crypto.com card is a fairly complex card when it comes to limits and fees which is why it sits near the bottom of our list.
Supported Cryptocurrencies:
All crypto rewards will be given in the native token of Crypto.com called Cronos (CRO).
Withdrawal Limits:
Depending on the card, users can withdraw up to $200-$1000 a month.
APR:
Since this card is not a debit card, there is no APR associated with this card.
6) Nexo Card
Overview:
Nexo is a crypto lending platform that offers crypto credit lines and instant crypto loans. The Nexo Card is a is a crypto card that allows users to use their crypto as collateral instead of selling it to make purchases. Nexo’s web and app interface are easy to navigate making it a very user friendly experience.
Crypto Rewards Program:
Nexo allows users to accumulate rewards in two different cryptos; Bitcoin and NEXO. When earning in Bitcoin, users earn 0.5% cashback on all purchases. If you choose to be rewarded in NEXO, Nexo’s own token, you’ll earn 2% back on all purchases.
Annual Fee:
There are no annual fees associated with the Nexo card.
Supported Cryptocurrencies:
With Nexo, users can accumulate rewards in Bitcoin and NEXO.
Withdrawal Limits:
Click here to see Nexo’s monthly and daily ATM withdrawal limits and fees.
APR:
Nexo offers a fairly low APR range from 0% – 13.9%.
7) Coinbase Visa Card
Overview:
Unlike the other cards on the list, the Coinbase Visa Card is a debit card. Coinbase is one of the most popular crypto exchanges which makes the Coinbase card a versatile card due to its link-ability to a Coinbase account.
Crypto Rewards Program:
With Coinbase’s rewards structure, up to 4% back in rewards can be earned on all purchases. These rewards are transferred into a cryptocurrency such as Bitcoin that will hopefully grow over time.
Annual Fee:
There are no annual fees or transactional fees associated with the Coinbase card.
Supported Cryptocurrencies:
Coinbase allows users to accumulate rewards in 35+ crypto assets such as Bitcoin, Ethereum, and Doge.
Withdrawal Limits:
You can withdraw cash from an ATM with the Coinbase card. Coinbase will not charge an ATM fee for the withdrawal; however, the ATM might charge a fee for the withdrawal.
APR:
Because this card is a debit card, there is no APR associated with the card.
What Are Crypto Rewards Credit Cards?
Crypto rewards credit cards are a type of credit card that allow you to spend your Bitcoin, Ethereum, and other cryptocurrencies in the same way as regular fiat currencies. In most cases, you’ll be able to use your crypto credit card anywhere that accepts Visa or Mastercard. Crypto rewards credit cards often have crypto rewards programs that allow you to earn crypto.
Why Should I Earn Crypto Rewards?
Cryptocurrency rewards can be a fun way to increase the value of your rewards overtime. There is certainly a risk of a market downturn that will decrease the value of your rewards, but there is also a massive upside if the crypto you’ve chosen
How Can I Earn Crypto Rewards?
Most crypto rewards credit cards will have some sort of crypto rewards program that allows you to earn crypto. For example, the Gemini Crypto Rewards Mastercard allows you to earn up to three percent back in Bitcoin every time you use your card. All you have to do is choose a card with a crypto rewards program, and then earn rewards by making purchases with the card.
Do Crypto Credit Cards Help Your Credit Score?
A crypto credit card can help your credit score if you spend wisely and make payments on time. The credit bureaus want to see you use your credit cards responsibly in order to increase your credit score. This means you should make payments on time and in full. It will also help your credit score if you can use less than a third of your total credit limit.
How Do I Choose a Crypto Credit Card?
Choose a crypto credit card that will maximize your rewards potential within the constraints of your credit score. If you are new to credit or have bad credit – you are unlikely to be able to get the best rewards card. You’ll have to start with a card that is meant to build credit – like the Upgrade Bitcoin rewards card.
What Are Foreign Transaction Fees?
Foreign transaction fees are fees that credit card issuers charge for transactions made in a foreign currency. For example, if you use your crypto credit card to make a purchase in Euros, you may be charged a foreign transaction fee. Foreign transaction fees can range from one to five percent of the total transaction amount.
What is a Cash Advance?
A cash advance is a type of loan that allows you to withdraw cash from your credit card. Credit card companies usually charge a cash advance fee. Right after you withdraw the cash, you will be charged interest at the rate set by your credit card company.
What is an APR?
An APR, or annual percentage rate, is the amount of interest you will be charged on your credit balance if you don’t pay it off in full every month. The APR can range from around anywhere from 0% to over 30%.
What is the Difference Between Crypto Debit and Crypto Credit Cards?
Crypto debit cards are linked to your crypto wallet, and they allow you to spend your crypto without having to convert it into fiat currency. Crypto credit cards, on the other hand, are traditional credit cards that can be used anywhere that accepts Visa or Mastercard. In most cases, you’ll be able to use your crypto credit card anywhere that
Do I Need to Pay Taxes on my Crypto Rewards?
You may need to pay taxes on the crypto credit card rewards you earn.
Is There A Credit Card That Earns Crypto?
Yes there are a lot of credit cards that earn cryptocurrency rewards. A lot of crypto exchange companies are beginning to offer crypto rewards card, but even Venmo offers a crypto earning Venmo credit card. Due to the multitude of cards out there, it is important to do a lot of research on crypto cards before making up your mind.
Wrap Up.
In conclusion, crypto credit cards are a great way to earn crypto from purchases. Crypto credit cards are easy to sign up for and use. As your crypto rewards grow, you’ll be grateful you signed up for one. However, it is important to do your research before choosing a card, as many companies offer different fee and rewards structures. We’re confident that you’ll find the right card for you.
