The 6 Best Crypto Credit Cards of 2022

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August 10, 2022 - 22 Min Read

Most of us have at least one or two credit cards sitting in our wallets. At the close of 2020, there were 365 million open credit card accounts in the U.S., and 79% of consumers had at least one credit card or charge card. That’s the highest percentage since 2008, when the Fed began tracking payment choice data. And, about 63% of Americans use a credit card on a monthly basis — in large part because of the rewards and perks that certain credit cards offer.

The most common credit card rewards are airline miles, hotel rewards, or cash back, which can help cut down on the cost of your travel or put some cash back into your pocket from your purchases. But what if you could earn 1%, 2%, or even 5% back in crypto with your card purchases instead? Well, you can, thanks to a new type of rewards credit cards. Rather than your typical cash or miles rewards, the perks and rewards that come with these cards are geared toward cryptocurrency investors, allowing you to earn crypto anywhere you’d use your credit card. If you want to narrow down the options in this category, here are the five best crypto credit and debit cards.

The six best crypto credit cards of 2022

Card TypeRewards RateAPR Staking Required?
Gemini Credit CardCreditUp to 3% back13.24%–24.24% (variable)No
Coinbase CardDebitUp to 4% backN/A (debit card)No
BlockFi Rewards Visa Signature CardCreditUp to 2% back15.74%, 20.74%, or 25.74% (variable)No
Crypto.com Visa CardDebitUp to 9% backN/A (debit card)Yes
SoFi Credit CardCredit2% back13.24%–25.24% (variable)No
Nexo CardCreditUp to 2% NEXO or 0.5% BTC0%–13.99%No

In general, you can expect the crypto rewards from these credit cards to fall between 1% to 3% — which is about average when compared to the cash back rewards offered by other types of cards. The difference here is that you aren’t earning cash back; you’re earning crypto.

But while 1% to 3% is average, it’s worth noting that the Crypto.com credit card offers a higher rewards rate if through staking. With staking, you’re making a long-term financial commitment in exchange for a higher reward.

Crypto.com Debit Cards

Crypto.com debit card: Best for high-value traders

  • Card type: Visa debit card
  • Special offer: None at this time

Pros

  • Multiple tiers of rewards
  • Rewards of up to 8% back, depending on the tier
  • Free Netflix, Spotify, and Amazon Prime on top tiers

Cons

  • High staking requirements for top tiers
  • Rewards only paid in CRO, a utility token unique to Crypto.com
  • Fees: 1% fee for adding funds via a debit card and 2.99% for adding funds via a credit card (starting August 12, 2022)

DeFi Rate's take

Crypto.com labels its Visa card as a prepaid card, meaning you’ll need to fund it before using it. There’s no credit option at this time. This card functions like a debit card, and there are multiple selections to choose from — each with different benefits and rewards.

The simplest option is the Midnight Blue card, which comes with no additional requirements and pays 1% back in CRO, Crypto.com’s utility token. If you want to earn more in crypto rewards, you can qualify for a higher tier by staking a qualifying amount of CRO.

Current staking requirements and rewards:

  • Midnight Blue
    • No staking requirement
    • Crypto rewards of 1%
  • Ruby Steel
    • $400 USD CRO staking requirement
    • Crypto rewards of 2%
  • Royal Indigo & Jade Green
    • $4,000 USD CRO staking requirement
    • Crypto rewards of 3%
  • Frosted Rose Gold & Icy White
    • $40,000 USD CRO staking requirement
    • Crypto rewards of 5%
  • Obsidian
    • $400,000 USD CRO staking requirement
    • Crypto rewards of 8%

All Crypto.com card options currently pay a lower reward when not staking. However, upcoming changes will remove the rewards for non-staked accounts in all but the top tiers.

Staking is a way to help secure transactions on the blockchain and is generally considered to be safe, so while there is a staking requirement with these cards, it’s not a terribly risky requirement. However, there are some considerations to weigh before making a commitment.

For starters, this type of staking is custodial, which means the exchange holds your staked tokens. As such, insolvency or other events could put your staked assets at risk.

You’ll also want to consider the long-term price of the staked tokens. CRO shows a one-year price range of $0.48 to $0.18. With a 180-day staking requirement, prices can change considerably by the time you’re ready to unstake and make your next move.

In addition, Crypto.com will be charging top-up fees for adding money to your debit card starting on August 12, 2022. This includes a 1% fee for adding funds to your card with a debit card and a fee of 2.99% for adding funds with a credit card.

Crypto.com is also making an update to its crypto rewards offers that is effective as of June 2022. With this change, you can expect lower rewards rates for many of the card levels, although Crypto.com will retain a strong reward structure of up to 8% for private members, a service tier designed for high-value traders.

The Crypto.com card is available in all 50 states except New York.

BlockFi Card

BlockFi credit card: Best for high initial rewards

  • Card type: Visa credit card
  • Card APR: 11.74% to 21.74% on purchases
  • Special offer: Earn 3.5% back in Bitcoin for the first 90 days

Pros

  • No annual fee
  • Refer-a-friend bonus
  • Earn 0.25% Bitcoin back on eligible trades
  • Offers for travel, sporting events, and more
  • Additional 2% stablecoin bonus for BlockFi interest accounts

Cons

  • Generally requires good to excellent credit for approval
  • Cash advances and balance transfers are not available

DeFi Rate's take

At one point, you could only earn rewards in Bitcoin with BlockFi’s Visa credit card — but recent changes were made that introduced additional reward options. The rewards available for this card now include Ethereum, Litecoin, Chainlink, and several others. You can also earn rewards in a handful of stablecoin options, such as USDC, Gemini Dollar, and Binance USD.

The BlockFi card also offers a bonus that can increase your interest rate if you hold stablecoins in a BlockFi Interest Account (BIA), which is a separate account type that lets you earn interest on dozens of cryptocurrencies. However, you don’t need to participate in BIA to qualify for BlockFi’s crypto credit card or to earn standard rewards.

BlockFi uses a tiered rewards schedule, starting with a 3.5% rewards rate for the first 90 days, which is capped at $100 in rewards. After the intro period or after you reach the cap, you’ll earn 1.5% back until you reach a $50,000 annual spend. Spending above $50,000 earns 2% back in crypto.

While a standard rewards rate of 1.5% back isn’t the highest you’ll find, the other features offered by this card may make it worth a closer look. For example, you can earn 0.25% back in Bitcoin on all eligible trades, with a monthly cap of $500, in addition to the other rewards opportunities.

The earned rewards with this card are automatically converted to crypto once per month, allowing you to dollar cost average your crypto position by simply swiping your card.

The BlockFi credit card is available in all 50 states except New York.

Restrictions apply for account holders in Kentucky.

Gemini Card

Gemini crypto credit card: Best for restaurants and groceries

  • Card type: Mastercard credit card
  • Card APR: 13.24% to 24.24% on purchases; 26.24% on cash advances
  • Special offer: None at this time

Pros

  • No annual fee
  • Rewards of up to 3%
  • 60+ supported cryptos
  • Available in all 50 states
  • No-fee balance transfers

Cons

  • Application waitlist

DeFi Rate's take

Gemini uses a variable rewards system that offers the most back on restaurant and grocery purchases — and you’ll get your rewards instantly in most cases. In general, you’ll typically have to wait up to a month before your rewards are posted with other cards, so the instant rewards that come with this card are a big benefit. With crypto, a lot can happen in a month, so there’s value to offering a fast turnaround on rewards.

Here’s the breakdown on Gemini crypto rewards:

  • 3% back on dining: You can earn 3% back on dining purchases for the first $6,000 in spending. After you reach $6,000 in this type of spending, you’ll earn 1% back on purchases with this card.
  • 2% back on groceries: You can earn an additional 2% back on grocery purchases with this card. When paid in crypto, that can add up to much more over time.
  • 1% back on everything else: Some cards max out at 1% rewards, but that’s the lowest tier with Gemini.

On average, Americans spend over $7,000 per household on food purchases each year, according to the Bureau of Labor Statistics (BLS) data. With the Gemini crypto credit card offering up to 3% back, the rewards for making everyday purchases can add up quickly.

In addition to a high potential rewards rate, this card also gives you the option to choose from over 60 crypto rewards, including Bitcoin (BTC), Ethereum (ETH), or a selection of lesser-known cryptos.

Unlike some of the other card options, the Gemini card is a credit card — not a debit card. As such, you won’t be spending the crypto or cash in your account when you use it. The purchases you make will affect your credit balance instead.

The Gemini crypto credit card is available in all 50 states. However, there could potentially be a wait before new applications are accepted.

Coinbase Card

Coinbase debit card: Best for high no-staking rewards

  • Card type: Visa debit card
  • Special offer: None at this time

Pros

  • Zero crypto spending fees
  • No annual fees
  • Spend over 160 cryptos
  • Choose rewards with up to 4% back

Cons

  • Limited reward choices

DeFi Rate's take

If you’ve ever needed access to the crypto you’ve stashed away, you know there are hoops to jump through to get it. You typically have to sell, withdraw, and then wait for the funds to clear your bank, a process that could take days.

The Coinbase debit card solves this dilemma by letting you spend more than 160 cryptos just like you would spend your cash. Well, almost the same way, since spending your crypto may create a taxable event. Coinbase suggests using USD, or a stablecoin such as USDT to USDC, to avoid setting off a trail of tax liability events when you use your card.

By allowing you to spend your crypto via your card, the Coinbase debit card gives you an easy way to access the money you’ve parked at the exchange. You can also fund your card through Paypal or through a connected bank account, so there’s the option to spend dollars and crypto with this card.

However, the offers to earn crypto are time limited on Coinbase, which means that the amount you earn may change after a deal expires. For example, the current offer allows cardholders to 2% back in Bitcoin. However, that amount may change to 1% after the offer expires.

On the high end, The Graph and Stellar Lumens rewards are 4%, but these offers will also expire and will be replaced by a new offer at that time.

Current offer choices:

  • Bitcoin
  • Ethereum
  • The Graph
  • Stellar Lumens
  • Cosmos

Cash back cards that pay up to 4% back — without a catch — can be tough to find. But the Coinbase debit card puts higher crypto-reward earnings within easy reach.

The Coinbase debit card is available in all states except Hawaii.

SoFi Credit Card

SoFi credit card: Best for beginners and SoFi members

  • Card type: Mastercard credit card
  • Card APR: 13.24% to 24.24% purchases; 27.24% for cash advances
  • Special offer: 3% back for the first year (direct deposit required)

Pros

  • No annual fee
  • Reduced APR with 12 on-time payments
  • Rewards tier is fixed at 2%

Cons

  • No wallet — your crypto stays on the exchange until it’s sold

DeFi Rate's take

Some cards pay in crypto, but SoFi pays in points, which can be redeemed for crypto. If you’re part of the SoFi community, the SoFi credit card may appeal to you since you can manage every aspect of your SoFi products through one app.

This card lets you trade or accumulate your favorite cryptos as you stack up rewards, with reward options that span nearly 30 different crypto tokens and coins. You’ll find well-known options, such as Bitcoin, Ethereum, and Dogecoin, but you’ll also find a wider selection that includes promising blockchain assets, like Cardano, Polkadot, and Solana.

When it comes to rewards, SoFi keeps it simple. With this card, you can earn 2% back on almost anything, with your rewards paid in points. There are a few different options for redeeming your points, including:

  • Cash
  • Crypto
  • Fractional investment shares
  • Payment on loan products

SoFi is currently running a promotion that unlocks 3% rewards for one year if you set up direct deposit. After the promotional period is over, you’ll earn 2% on eligible purchases.

While SoFi offers an easy-to-use rewards program, it’s not a perfect fit for everyone. For example, experienced traders may prefer a solution that supports an external wallet. SoFi does not currently support a wallet, which means it holds custody of your crypto. This structure is typically best suited to lower crypto balances or beginning crypto investors.

SoFi crypto rewards are redeemed through SoFi Invest, which is available in all states. Some trading restrictions apply to SoFi members in New York.

Nexo Credit Card

Nexo Card: Best for using your crypto as collateral

  • Card type: Crypto-backed card that works with Nexo's instant crypto credit lines
  • Card APR: 0% APR to 13.9% APR, depending on the purchase type
  • Special offer: 2% in NEXO Tokens or 0.5% in BTC for all loyalty tiers

Pros

  • Rewards of up to 2% in NEXO tokens or 0.5% BTC, depending on the card tier
  • No minimum repayments or fees
  • APR as low as 0%
  • Retain crypto asset ownership
  • Limit is tied to Nexo’s Instant Crypto Credit Lines

Cons

  • Must be a citizen of the European Economic Area (EEA) to qualify

DeFi Rate's take

If you're looking for a card that won't require you to cash in your crypto assets, it may be worth taking a look at the Nexo Card. This card is a relatively new addition to the crypto credit card lineup, and in addition to allowing you to retain your crypto assets, it offers a ton of unique perks.

One of the most notable perks, though, is that the Nexo Card doesn't force you to use or sell your digital assets when you swipe your card. Rather, the card is tied to Nexo’s Instant Crypto Credit Lines, and all purchases are deducted automatically from your available credit line while your portfolio remains intact. In other words, you use your crypto tokens as collateral while spending the fiat value on your card.

In addition to that, the card offers some big crypto rewards when you swipe it. Right now, the card is offering a special crypto rewards rate of 2% NEXO or 0.5% BTC, which you'll earn on any purchase or ATM withdrawal you make, no matter what your loyalty tier is. The regular rewards rate differs by loyalty tier and includes:

  • Platinum: 2% in NEXO Tokens or 0.5% in BT
  • Gold: 1% in NEXO Tokens or 0.3% in BT
  • Silver: 0.7% in NEXO Tokens or 0.2% in BTC
  • Base: 0.5% in NEXO Tokens or 0.1% in BTC

The APRs on the Nexo Card are a lot lower than many of the competitor cards, too. Rates start from 0% APR and never exceed 13.9% APR. Plus, cardholders have more control of what they pay in interest, thanks to tools that allow them to switch to 0% APR purchases in their card accounts.

Add in the other benefits, like no minimum monthly repayment; no monthly, annual, or inactivity fees; no ATM withdrawal fees; and no foreign transaction fees, and this card is definitely worth a look. However, it's worth noting that residents of the U.S. and other countries outside of the European Economic Area won't be eligible for this card.

As of July 2022, only citizens of the European Economic Area (EEA) can order a Nexo Card. To be eligible, you need to verify your identity and also meet the following criteria:

  • For a virtual card: maintain a Portfolio Balance of at least $50.
  • For a physical card: maintain a Portfolio Balance of at least $500 and a Gold or Platinum Loyalty tier.

How do crypto credit cards work?

In general, crypto credit cards work much like a standard rewards credit card: you earn rewards for making certain types of purchases. The primary distinction is that the rewards you earn are paid in crypto or in points that can be redeemed for crypto rather than earning miles or cash back.

It’s important to note that you’re not spending your crypto or cash from your trading account when you use a crypto credit card. You’re borrowing money, just like with a standard credit card. However, there are some debit cards listed above that offer the same type of crypto rewards benefits, and you will be dipping into your crypto or cash when you use those cards.

Some of the credit card companies listed above will offer instant approval decisions with no impact on your credit score due to the initial soft-pull credit check. If you choose to accept the credit line, there will be a hard pull to your credit, which can impact your credit score.

You can expect interest rates that are similar to what you’d get with traditional credit cards, with rates ranging from about 13% to 25%, depending on your credit history and other factors. If you pay in full each month, you can generally avoid paying interest fees.

While some crypto cards offer additional perks, many do not. These cards typically offer a low-frills to no-frills experience that allows you to earn crypto while swiping your card for everyday expenses.

How do crypto debit cards work?

Crypto debit cards or prepaid cards work much like a debit card from your bank or a standard prepaid card. With a crypto debit card, you are using the cash or crypto in your account — just like you would be using the cash in your bank account when using a regular debit card online. The big difference is that you’re earning crypto while spending.

However, there are some factors to be aware of before you start using a crypto debit card. For example, there are spending types that may be taxable. If the value of the crypto you purchased or earned is higher when you spend it than when you bought it, the IRS will want their cut.

To avoid the risk of a taxable event, you can fund your account with USD or a stablecoin alternative such as USDC or USDT. Check with your debit card provider to see which funding options they offer.

Prepaid cards, on the other hand, don’t allow you to spend your crypto. Rather, you must fund the card with USD through a bank account or with cash you hold on the exchange.

How to choose the best crypto credit card

When narrowing down the options to find the best crypto credit card for you, it can be helpful to consider your priorities. You may want to consider factors like the rewards rate the cards are offering, any sign-up bonuses or rewards tiers, and whether you’re willing to pay for an annual fee or interest on your purchases.

Most crypto credit card options will have no annual fee, but you should still check the fine print before applying. An annual fee can put a damper on rewards earnings, and that’s particularly true if you aren’t planning to use the card often.

You may also want to consider interest rates. You may not plan to carry a balance, but life happens, and you may end up having a balance on your card at some point. So, it could be beneficial to you to find the credit cards with the lowest APRs for your credit profile. If avoiding interest is the main priority, it may be helpful to consider a crypto debit card instead.

Some cards offer freebies, such as free membership to Netflix or Spotify. Free is a good price, but be sure the card actually meets your needs — and that the crypto rewards are going to be worth it — before opening a card just to get access to these types of benefits. If the card offers other goodies, consider them extras rather than the primary selling point.

It’s also worth noting that adding a new credit card to your credit profile can temporarily lower your credit score, which could cause you to pay more for any variable rate debt, future loans, or other products if you need access to them before your score recovers. So, be sure to consider your needs carefully before applying for new credit.

Should you get a crypto rewards credit card?

If you were already in the market for a new credit card, crypto credit cards can offer an easy way to build your crypto nest egg over time while giving you access to a line of credit. These cards are at least worth considering if you’re OK with the temporary drop a credit card can cause to your credit score, or with the other risks that can come with opening a new card account.

But it’s also worth mentioning that the idea of “no risk, no reward” also applies to this situation. While you could earn valuable crypto rewards with this type of card, there are potential downsides — like the fact that stacking crypto rewards comes with the risk of falling values. Your rewards could go to the moon, but they might turn into moon dust. Consider your risk tolerance before making any decisions.

Final thoughts on crypto rewards credit cards

Crypto credit cards can be a great way to earn crypto-specific rewards. And if air miles programs or other rewards programs aren’t your cup of tea, it may be worth it to take a closer look at what a crypto card can offer you. It could be a good alternative to your traditional rewards credit card options. Plus, with the option for crypto rewards debit and credit cards, there’s a card for nearly every type of crypto enthusiast.

Frequently asked questions

  • How do crypto card rewards work?

  • Are crypto credit card rewards taxable?

  • What’s the difference between a crypto debit card and a crypto credit card?