Best Crypto Credit Cards for February 2022

Unlike traditional credit card rewards offering 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 typical transaction costs when buying on an exchange — they could be an optimal, low-stakes on-ramp to experimenting with cryptocurrency. . That being said, bitcoin and its ilk are considerably more volatile than points, miles, and US dollars. Additionally, regulations and tax laws continue to evolve in this market, and regulators and enforcement agencies apply particularly high levels of scrutiny to institutions offering crypto products. So, with that, a reminder: caveat emptor.

We have chosen the best crypto rewards credit cards currently on the market or soon to be. This list of partner offers does not currently include crypto debit cards or prepaid cards, and will be updated as new cards are rolled out.

Introductory bonusEarn 3.5% Crypto Rewards on all purchases within the first 90 days of card ownership, up to $100 in crypto.

APR14.99% – 24.99% (Variable)

Recommended credit Excellent/Good Credit

Reward rate
  • Earn 1.5% back in crypto on every purchase.

Annual fees$0

Intro Purchase APRN / A

Late payment fees Up to $25

Foreign transaction fees Nothing

  • Earn 1.5% back in crypto on every purchase.

Our opinion

We love the Signature BlockFi Rewards Visa® card for so many reasons. First, it offers over 10 cryptocurrency reward options beyond bitcoin. It’s also the only one that lets you move your crypto into your own wallet – a key distinction that will make it appealing to crypto enthusiasts. And the rewards you earn of 1.5% on every purchase automatically earn interest when held in a linked BlockFi Interest Account.

That said, BlockFi Interest Accounts, which come with a BlockFi credit card, are currently underway. reviewed by regulatory agencies in multiple US states. While individual cardholders are unlikely to be drawn into any investigation, it does cast a shadow over BlockFi’s business profile, so consider the risks before signing up.

See our full BlockFi credit card review for more details.

Introductory bonusN / A

APR15.24% – 24.24% Variable APR

Recommended credit Excellent, good

Reward rate
  • Earn up to 3% on your most eligible spend category
  • Earn up to 2% on your second eligible spend category
  • Earn 1% on all other qualifying purchases and person-to-person Venmo transactions

Annual fees$0

Intro Purchase APRN / A

Foreign transaction fees Nothing

  • Earn up to 3% on your most eligible spend category
  • Earn up to 2% on your second eligible spend category
  • Earn 1% on all other qualifying purchases and person-to-person Venmo transactions

Our opinion

The Venmo Credit Card is a cash 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 into cryptocurrency. Venmo automatically assigns your highest refund rate to your highest spending categories. You’ll earn 3% 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 to maximize your rewards . The major downside is that you cannot transfer your crypto from Venmo’s custody platform to an exchange or your own wallet, which may be a dealbreaker for some.

Introductory bonusN / A

APRSee terms

Recommended credit N / A

Reward rate
  • 1.5% bitcoin back when you make payments

Annual fees$0

Intro Purchase APRN / A

  • 1.5% bitcoin back when you make payments

Our opinion

The Upgrade Bitcoin Rewards Visa is a simple crypto credit card. While it doesn’t offer anything beyond the other cards, it’s a decent alternative if the other options aren’t for you. You will only earn bitcoin, but it offers the same reward rate as BlockFi at 1.5% on all purchases. You can use the Upgrade Bitcoin Rewards Visa anywhere Visa is accepted, but you cannot move your bitcoin from the Upgrade Custody platform to your own wallet, which limits your “ownership” to exposure to the price. The only thing you can do with your bitcoin rewards is keep them in the custody account or sell them to redeem as statement credit at a time of your choosing. Although limited, it is still one of the simplest crypto rewards cards currently available to the public.

Introductory bonusN / A

APR12.99% – 23.99% variable

Recommended credit N / A

Reward rate
  • 3% back on meals (up to $6,000 annual spend, then 1%)
  • 2% discount on groceries.
  • 1% cashback on all other purchases.

Annual fees$0

Intro Purchase APRN / A

  • 3% back on meals (up to $6,000 annual spend, then 1%)
  • 2% discount on groceries.
  • 1% cashback on all other purchases.

Our opinion

There is a lot of hype surrounding the Gemini credit card, which is not yet available, although you can join the waiting list for early access. This card lets you earn credit card rewards in bitcoin, ether, or more than 40 other cryptocurrencies. You’ll earn 3% on meals (up to $6,000 annual spend, then 1%), 2% on groceries, and 1% on all other purchases. These rewards rates exceed those of some of our current top crypto credit card picks, and the selection of cryptocurrency rewards would be by far the largest available. Rewards are earned the instant you make a purchase, meaning you don’t have to wait until the end of the month to receive payment. You will also be able to move your rewards from the Gemini platform to your own wallet.

FAQs

Do I have to pay taxes on my crypto rewards?

While the legislation is still being drafted, it is important to track the purchase prices of your cryptocurrency so that you can report any capital gains on which you may owe tax. 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 developing support for reporting crypto on your taxes, or you can consult with a tax professional to determine your specific needs.

Are crypto credit cards safe?

Cryptocurrencies are widely considered high-risk and volatile assets, so the value of your rewards balance can fluctuate significantly over time without any guarantees. Accounts where cryptocurrencies are held are not FDIC-insured like banks, and some have ongoing legal challenges. Legislation is still evolving and has not yet been solidified around cryptocurrencies, so there is an inherent risk of the unknown.

Read more: Bitcoin and cryptocurrency regulation in 2022

Are there any crypto debit cards on the market?

There are also crypto debit cards in the market, including the Crypto.com Visa Card, the Binance Visa Card, and the upcoming Coinbase Card. All of these cards allow you to spend your crypto at public merchants and earn crypto rewards on your spending. Many new products are expected to hit the market over the next few years as Visa has partnered with over 60 platforms to work to enable crypto transactions worldwide.

Read more:

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

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.