You’ve seen and heard the hype surrounding crypto credit cards, but what are they? First off, they are a quickly developing category of new financial products. Most options currently available are simply a traditional rewards credit card but instead of earning cash back or airline miles – you earn cryptocurrency.
These types of rewards cards can be a great way for you to accumulate more cryptocurrency just by spending as you normally do. You’ll accumulate anywhere from 1.5 – 3.5% back on every purchase that will be converted into the cryptocurrency of your choice.
The most popular cryptocurrency rewards credit card right now is the BlockFi Bitcoin Rewards card. You can learn more about here –> FULL Review of BlockFi Bitcoin Rewards Credit Card.
If you are rebuilding your credit or don’t think you would qualify for the BlockFi card (which requires good or excellent credit), check out the Upgrade Bitcoin Rewards Credit Card.
So basically, a crypto credit card at this point in time will help you earn crypto, but no products currently exist that let you spend your crypto in the form of a credit card. Everything currently available will transfer your crypto into FIAT before the transaction takes place. We expect this to change soon as Visa and Mastercard have both allocated resources to adopting crypto quickly.
The next crypto credit card we expect to change the game is the Celsius credit card. You can sign up for the waitlist and learn more about it here –> Celsius Credit Card (What We Know So Far).
Also make sure to check out some new crypto rewards cards such as:
