Best Crypto Credit Cards for February 2022

Unlike traditional credit card rewards that offer points, cash and miles, a new generation of credit cards offers rewards in bitcoin, ether and other crypto assets.

Because you can use these credit cards to earn crypto rewards – without incurring the trading fees that are typical of buying on an exchange – they can be an optimal, low-stakes ramp to experiment with cryptocurrency. That said, bitcoin and its ilk are significantly more volatile than points, miles, and US dollars. In addition, regulatory and tax laws in this market continue to evolve, and legislators and enforcement agencies apply particularly high levels of scrutiny over institutions offering crypto products. So, with that, a reminder: caveat emptor.

We’ve picked the best crypto rewards credit cards on the market right now or coming soon. This list of partner offers does not currently include crypto debit or prepaid cards and will be updated as new cards are rolled out.

Intro BonusEarn 3.5% crypto rewards on all purchases in the first 90 days of card ownership, up to $100 in crypto.

April14.99% – 24.99% (variable)

Recommended credit Excellent/good credit

Reward rates

  • Earn 1.5% back in crypto on every single purchase.

Annual contribution$0

Intro Purchase APRN/A

Late Payment Fee Up to $25

Foreign transaction costs No

  • Earn 1.5% back in crypto on every single purchase.

Our Take

We love the BlockFi Rewards Visa® Signature Card for many reasons. First, it offers more than 10 cryptocurrency reward options outside of bitcoin. It’s also the only one that allows you to move your crypto into your own wallet – an important distinction that makes it appealing to crypto enthusiasts. And the rewards you earn of 1.5% back on every purchase will automatically earn interest when on a linked BlockFi Interest account.

That said, BlockFi interest accounts, which come with a BlockFi credit card, are currently under investigation by regulatory authorities in several US states. While individual cardholders are unlikely to be involved in an investigation, it does cast a shadow over BlockFi’s business profile, so consider the risks before signing up.

Check out our full BlockFi credit card review to learn more.

Intro BonusN/A

April15.24% – 24.24% Variable APR

Recommended credit Excellent, good

Reward rates

  • Earn up to 3% on your highest eligible spend category
  • Earn up to 2% on your second eligible highest spending category
  • Earn 1% on all other eligible purchases and on personal transactions from Venmo

Annual contribution$0

Intro Purchase APRN/A

Foreign transaction costs No

  • Earn up to 3% on your highest eligible spend category
  • Earn up to 2% on your second eligible highest spending category
  • Earn 1% on all other eligible purchases and on personal transactions from Venmo

Our Take

The Venmo credit card is a cashback rewards card, but you can choose to redeem rewards in crypto – bitcoin, ethereum, litecoin or bitcoin cash – at the end of each month. Unlike some other credit cards, there are no transaction fees for converting rewards to cryptocurrency. Venmo automatically allocates your highest cashback percentage to your highest spending categories. You earn 3% back on your highest eligible spend category, 2% on the second highest eligible spend category, and 1% on all other eligible purchases, so you don’t have to strategize your spending to maximize your rewards. The big downside is that you can’t transfer your crypto from Venmo’s custodial platform to an exchange or your own wallet, which can be a deal breaker for some.

Intro BonusN/A

AprilSee conditions

Recommended credit N/A

Reward rates

  • 1.5% back in bitcoin when you make payments

Annual contribution$0

Intro Purchase APRN/A

  • 1.5% back in bitcoin when you make payments

Our Take

The Upgrade Bitcoin Rewards Visa is a simple crypto credit card. While it doesn’t offer anything different from other cards, it’s a satisfying alternative if the other options aren’t right for you. You only earn bitcoin, but it offers the same reward percentage as BlockFi with 1.5% back on all purchases. You can use the Upgrade Bitcoin Rewards Visa anywhere Visa is accepted, but you cannot move your bitcoin from the custodial upgrade platform to your own wallet, limiting your “property” to price exposure. All you can do with your bitcoin rewards is keep them in the custodial account or sell them to redeem as a statement credit at a time of your choosing. While this is limiting, it is still one of the most basic crypto reward cards currently available publicly.

Intro BonusN/A

April12.99% – 23.99% Variable

Recommended credit N/A

Reward rates

  • 3% back for dining (up to $6,000 in annual expenses, then 1%)
  • 2% back on groceries.
  • 1% back on all other purchases.

Annual contribution$0

Intro Purchase APRN/A

  • 3% back for dining (up to $6,000 in annual expenses, then 1%)
  • 2% back on groceries.
  • 1% back on all other purchases.

Our Take

There is a lot of hype surrounding the Gemini credit card, which is not yet available, although you can sign up for the early access waiting list. With this card you can earn credit card rewards in bitcoin, ether or over 40 other cryptocurrencies. You earn 3% back on dining (on up to $6,000 in annual expenses, then 1%), 2% on groceries, and 1% on all other purchases. These reward percentages exceed those of some of our current best crypto credit card picks, and the selection of cryptocurrency rewards would be by far the largest available. Rewards are earned the moment you make a purchase, meaning you don’t have to wait until the end of the month to get a payout. You can also move your rewards from the Gemini platform to your own wallet.

Frequently Asked Questions

Do I have to pay taxes on my crypto rewards?

While the legislation is still being worked out, it is important to monitor the buy-in prices of your cryptocurrency so that you can report any capital gains you may owe tax on. If and when you sell your cryptocurrency holdings, you may need to report capital gains and losses to the IRS. Major tax software platforms are building out support for crypto reporting on your taxes, or you can consult a tax professional to determine your specific needs.

Are crypto credit cards safe?

Cryptocurrencies are widely regarded as risky and volatile assets, so the value of your reward balance can fluctuate significantly over time with no guarantees. Accounts that hold cryptocurrencies are not FDIC-insured like banks, and some have ongoing legal challenges. Legislation is still evolving and has not yet solidified around cryptocurrencies, so there is inherent risk in the unknown.

Read More: Bitcoin and Cryptocurrency Regulations in 2022

Are there crypto debit cards on the market?

There are also some crypto debit cards on the market, including the Crypto.com Visa Card, the Binance Visa Card, and the upcoming Coinbase Card. All these cards allow you to spend your crypto with public traders and earn crypto rewards on your spending. Many new products are likely to hit the market in the coming years as Visa partners with more than 60 platforms to enable crypto transactions worldwide.

Read more:

*All information regarding the Venmo Credit Card, Upgrade Bitcoin Rewards Card and Gemini Credit Card is independently collected by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on unbiased, independent reviews by our writers and is not influenced by advertising or partnerships. It is not provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services from our partners.

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