Introduction
The cryptocurrency market and its volatile nature are no longer news today. The risky nature of cryptocurrency prevents many people from trading, owning, and investing in it.
However, there is a way people can get into the crypto space without using high-risk methods. This method is via crypto cards. Crypto credit and debit cards present unique opportunities for people to own crypto coins without buying them.
By using these crypto cards, cardholders receive rewards in the form of cryptocurrencies, just like they would receive fiat rewards for using traditional cards.
Hence, if you are looking to get crypto rewards via crypto cards or find the best crypto cards, this article is for you. We will explore the top crypto cards you can choose from, considering their incentives, pros and cons, key features, and fees.
What are Crypto Cards?
Crypto cards are like traditional debit or credit cards that financial institutions issue to their customers. However, in this case, crypto cards offer crypto rewards as a form of incentive to their users when they perform transactions with them.
A cryptocurrency cardholder will receive cashback for transactions done with a crypto card. However, this time, these cashbacks are not fiat monies. They are crypto assets like Bitcoin (BTC) or Ethereum (ETH).
Top Crypto Cards
Crypto cards entered the financial ecosystem in 2020 and changed the reward narrative for credit or debit card users. Before then, the most common types of rewards received when using credit cards were cashback, miles, and points.
The entrance of crypto cards into the credit card ecosystem shows how dynamic the landscape can become. Hence, if you want to own a credit or debit card that earns you crypto coins, the top five crypto cards to consider are listed below.
Crypto.com
This crypto card is a prepaid Visa debit card. The Crypto.com card allows its users to convert their crypto assets into fiat money for instant payment. The Digital Commerce Bank issues the Crypto.com Visa, and Foris, Inc. powers its operation.
If you want a convenient way to spend your crypto assets, Crypto.com may be your best crypto card option.
Key Features
- Solid reputation among card users.
- Robust security infrastructure for fraud protection, including 2FA (Two-Factor Authentication), hot and cold wallets, and encryption.
- Offers up to 5-tier rewards based on requirements.
- Customized benefits to crypto users.
- Increased liquidity of crypto assets.
- Supports up to 20 different fiat currencies and 19 cryptocurrencies.
Pros
- Fast crypto to fiat conversion.
- No yearly fees.
- Fast transaction processing option.
- Access to special events and top-tier services for premium card users.
- Cashback CRO rewards of up to 5%.
- Grants you standard access to airport lounges and travel insurance.
- Free Spotify and Netflix for cardholders.
Cons
- Requires longer staking and increased staked CRO for higher tiers.
- Limited free ATM withdrawals for lower-tier cards.
- No rewards for some merchants.
Coinbase
Coinbase is another Visa crypto debit card that allows its holder to pay for goods and services with crypto holdings at supported Visa card locations. The cardholders’ Coinbase account balances power their Coinbase crypto cards, and Pathward issues this crypto debit card.
The Coinbase card supports various crypto assets, including Ethereum, Bitcoin, Bitcoin Cash, Litecoin, Augur, and Basic Attention Token.
If you already have a crypto holding and are looking for a convenient way to make everyday purchases using cryptocurrencies while controlling your assets, consider a Coinbase card.
Key Features
- Supported by ATMs globally.
- Allows users to transact using cryptocurrencies and regular fiat supported at any locations accepting Visa payment options.
- Offers crypto rewards.
- Supports up to 8 cryptocurrency assets.
- Offers contactless transactions and payments.
- Users can manage their Coinbase crypto cards, choose preferred sources of funding, set card PINs, protect their cards from fraud, and track payment transactions using the Coinbase app.
- Robust security measures include 2FA, FaceID, Fingerprint Verification, and block or freeze card options.
Pros
- No yearly fees.
- No spending fees.
- Users can enjoy up to 4% crypto cashback.
- Robust security measures.
- Supports crypto and fiat currency payments.
Cons
- No earning rewards from some merchants.
- Users who sell their crypto to earn rewards may attract capital gain taxes.
- Users who want to be eligible to use Coinbase crypto cards must have Coinbase crypto accounts.
Venmo
Venmo is a crypto Visa credit card issued by Synchrony Bank. It allows users to effortlessly maximize crypto rewards while enjoying zero annual fees.
This crypto card has some interesting features, including paying bills with your Venmo account and splitting payments with friends who own Venmo accounts. Venmo also has a crypto debit card that offers unique crypto reward programs.
The Venmo card may be your go-to option if you want to earn cashback incentives that you can convert to crypto assets when you transact using your Venmo account.
Key Features
- Offers users crypto rewards when they perform transactions.
- Offers special Visa features.
- Supports Samsung Pay, Apple Pay, and Google Pay.
- Allows users to buy cryptocurrencies using their cashback rewards automatically.
- Has an application to manage cards and spending.
- Options for splitting bills with friends who have Venmo accounts.
- High security, including PINs, PCI-compliance and encryption technology.
Pros
- Up to 3% cashback on top spending categories, 2% and 1% on your next and other eligible purchases, respectively.
- Users can redeem their cashback incentives and convert them into crypto assets in their Venmo app.
Cons
- No traditional welcome bonus for new users.
- Only Venmo users with accounts that are at least 30 days old can qualify to own Venmo crypto cards.
- You cannot cash out rewards unless you transfer them to your Venmo account.
- One user can own up to 4 Venmo crypto cards.
Gemini
This crypto card gives its users crypto rewards when they make purchases. WebBank issues the Gemini Crypto Credit Card, which is powered by the MasterCard payment network.
If you are looking for a convenient way to earn crypto rewards while integrating crypto investing into your daily life, choose the Gemini Credit Card.
Key Features
- Offers crypto assets as cashback incentives.
- Offers unique MasterCard experience.
- It supports over 40 crypto assets, including Bitcoin and Ethereum.
- Cardholders’ sensitive details are only available on the Gemini application.
- Gives users rose gold, silver, and black metal cards.
- Gives card users access to DoorDash, Lyft, HelloFresh, ShopRunner, and other popular merchant deals.
- Round-the-clock customer support.
- Advanced security features include price protection, Mastercard Identity Theft protection, and zero liability.
Pros
- No annual or monthly payment fees.
- It gives users between 1% to 3% crypto cashback on purchases, including dining and groceries.
- It supports over 60 crypto assets and rewards users who use these crypto assets.
Cons
- Only available to people in the United States.
- High transaction fees.
- After an annual dinner spending or purchase of $6,000, cashback reward rates reduce to 1%.
Conclusion
This article has explored the top crypto cards in the crypto landscape, their key features, cashback rewards, pricing and fees, card limits, and pros and cons. These cards give their users amazing cashback when they spend their crypto assets.
No matter your experience in the cryptocurrency landscape, you can use any of these crypto cards on the list to perform your daily transactions and earn good rewards.
Crypto cards are the future of payments and finance. Owning one means taking your place in the future of modern payment solutions while enjoying financial flexibility and freedom.
Frequently Asked Questions
Is it Safe to Use Crypto Cards?
Most cryptocurrency cards employ adequate security measures to protect users’ details and prevent fraudulent transactions. Some of these measures include 2FA, solid encryption technologies, etc.
Sometimes, experienced fraudsters can target some crypto credit cards, even with all the protection. These fraudsters can carry out phishing scams and take advantage of data breaches to steal cardholders’ personal information.
Where Can I Make Use of a Crypto Debit or Credit Card?
Crypto credit and debit cardholders can use their cards anywhere in the world where merchants accept Mastercard and Visa payments. Also, you can use your crypto cards in global ATMs that accept them.
Please know that some of these cards may be restricted in their usage. Hence, ensure you check with merchants before trying to pay with your crypto cards.
Can I Use My Credit Card to Buy Crypto?
Yes! You can use your credit cards to buy crypto assets. However, it comes with high transaction fees. Also, note that some card issuers may not allow crypto purchases using credit cards.
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