The world is getting digitised with every passing day. Nowadays, people are more interested in digital money than real-time money.
Using this situation, Crypto breaks the way through the traditional finance system and introduces a new finance model. Cryptocurrencies are becoming a part of online payments and digital transfers nowadays. It acts as real-time money. Crypto supports lending, loans, saving, and investing and enables spending like ordinary money. As with other crypto functionalities, one new trend is emerging, i.e. Crypto credit cards. This article lists the best crypto credit cards out there. Come on, dive in.
There are many crypto credit cards available in the market. However, there are many aspects to consider before choosing the best crypto credit card.
Besides using digital currencies like Bitcoin to source cash and pay incentives, you can use crypto credit cards. Crypto credit cards operate similarly to standard credit cards. However, with cryptocurrencies and the support of well-known card networks like Visa and Mastercard, you can still spend freely while earning more rewards.
What are Crypto Credit Cards?
A cryptocurrency credit card enables users to spend cryptocurrency and offers rewards. In the world of cryptocurrency, debit cards and credit cards also exist. With the best crypto credit card, you can borrow money from the card issuer and pay it back later. Not very different from how a regular credit card works. The main distinction is that you should also make the repayment in cryptocurrency. If there are any incentives, they will give the same in digital currency like Bitcoin or stablecoins. So, choose the best crypto credit card to make your payments.
Most promising Best Crypto Credit Cards Available in the market:
Many crypto cards are available, but not every card is authenticated and safe to use. Here are some of the best crypto credit cards available in the market.
BlockFi Rewards Visa Signature Card:
It is one of the best crypto credit cards available in the market. It stands tall in the market. It has the privilege of getting launched first in the market. It offers nearly 1.5% back in crypto rewards. You will also receive rewards on every purchase you make. The rewards can be in BTC, ETH and 15 other cryptocurrencies. In addition, there is no need for you to pay the annual fee associated with the card. (Witness the Battle of Bests: Coinbase vs BlockFi Comparision )
Pros of BlockFi Rewards Visa Signature Cards:
- No annual fees.
- No foreign transaction fees.
- Allows trading 24/7.
- They automate your crypto profile by setting up repeat trades.
- Allows instant trades with ACH (Alchemy) token.
- New users can earn free Bitcoin if they surpass the fixed spending amount.
- The most reliable crypto lending platforms support the BlockFi card network. So it could be considered one of the best crypto credit cards to rely on.
SoFi Credit Card:
The SoFi credit card is one of few best crypto credit cards that provide endless 2 per cent cash back on purchases. In addition, the card also excels in using the fine print for QR scanning. Furthermore, there are no restrictions on purchase categories. And also, there are no minimum cash-out requirements. Additionally, there are no annual or foreign transaction fees.
The card’s primary selling point is how convenient it is. One of the few platforms, SoFi, lets you manage your banking, investments, and loans. In addition, users who choose to use all of SoFi’s accounts will be able to manage all of their funds on SoFi’s user-friendly platform in one location.
Pros of SoFi credit card:
- When you set up a direct deposit with SoFi, you will receive 3% cash back monthly for a year. After that, you will receive a 2 per cent limitless cash back on purchases that you can use with SoFi exchange to invest, save, or pay off an eligible loan.
- No category restriction.
- No annual fees.
- No foreign transaction fees.
- No cap on earning.
- Rewards never expire.
- You can get 1% APR discounts after making twelve on-time payments.
- Using your SoFi card to pay for your cell phone bills will give you free coverage up to $800 for each claim and $1,000 annually.
Crypto.com Visa Card:
Claiming to be the most widely accepted card of its kind, the Crypto.com Visa Card offers users a convenient way to spend their funds while offering more perks.
The Crypto.com Visa Card charges no annual fees. That means that you can use the card anywhere in the world where Visa cards are accepted.
Crypto.com supports various cryptocurrencies as it stands as one of the best crypto credit cards. To avoid market volatility, they will convert the cryptocurrency of their choice to US dollars based on real-time market value and load the rewards you earned. Then you can use it like all other tokens.
Additional benefits have been introduced to the Crypto.com Visa Card to constantly meet customer demands.
The Crypto.com Visa Card already has travel perks, including cost-free access to LoungeKeyTM Airport Lounges and interbank exchange rates, and they also charge no foreign transaction fees.
Pros of Crypto.com Visa Card:
- Airport lounge access only includes Jade/Indigo and higher cards, but the Loungekey offers unlimited access to more than 1,100 lounges spread across more than 500 airports.
- Depending on the tier of card you carry, you may be eligible for a monthly 100% reimbursement on certain subscription services, including Amazon Prime, Netflix, and Spotify.
- For top-tier Obsidian cardholders, they give a monthly Airbnb reimbursement credit worth 10% back which will be up to $100.
- They have tiered fee-free ATM withdrawals up to a specified monthly threshold.
- No annual fee
- No credit pull is required.
- Generous cash-back spending offers are available on this best crypto credit card.
Cons of Crypto.com Visa Card:
- Staking criteria for the majority of their card tiers are incredibly high.
- Low monthly ATM limits for cards of lower levels
Gemini Crypto Card:
You can earn Real-time cryptocurrency incentives with the best crypto credit card, Gemini Credit Card. Gemini claims that for any trading cryptocurrency on its platform, you will receive 1% cash back on all other purchases, 2% cash back on groceries, and 3% cash back on dining (up to $6,000 in yearly spending). This way, your earning options could go higher, like earning Bitcoin, Ethereum and even some of the newer, smaller cryptocurrencies.
Unlike other unauthenticated crypto reward cards, you will get real-time rewards in Gemini, the best crypto credit card. That means you can hold your Crypto as soon as you purchase it. For example, some other cards give you cashback that converts to cryptocurrency at the end of the month.
You will be unnecessarily tied to the exchange rate when the reward is redeemed. In contrast, the Gemini credit card delivers rewards sooner to take advantage of their rewards. Also, you don’t have to worry about conversion fees when earning rewards.
Pros of Gemini Crypto card:
- Up to $6,000 in annual expenditure, you can get 3 per cent cash back on eating, 2 per cent cashback on groceries, and 1 per cent cash back on all other purchases.
- Once your application is approved, you can easily access your card information on your mobile wallet.
- From the app, you can control and freeze your card.
- All citizens of the United States can use it wherever Mastercard is accepted.
Venmo Credit Card:
If you frequently share expenses with friends and family, it might entice you to apply for a Venmo credit card, one of the best crypto credit cards. The no-annual-fee card, in collaboration with Synchrony Bank, utilises the Visa network and offers rewards for each purchase.
Like the app, the card enables instant bill splitting for a meal out with pals when you make payment. While you finish dessert, your dining partners who have access to Venmo can quickly pay you for their portion by scanning the QR code on the front of every Venmo credit card.
A potential advantage of the card is that, unlike plain old Venmo, you can first skip the transfer of Venmo payments to your bank account to pay your credit card bill.
Pros of Venmo:
- Annual cost: Nothing
- Earn 3 per cent rewards for the top eight spending categories, 2 per cent for the next highest category, and 1 per cent for all other purchases.
- Use your points to send to your bank account, use them as a statement credit, pay using Venmo, or make purchases with the card.
- The Venmo app lets you keep track of your spending, send money to other Venmo users, and manage your account.
- The absence of foreign transaction fees is possible only among the best crypto credit cards like Venmo cards.
Difference Between Credit card vs Debit Card
You should Understand the differences between debit and credit cards to choose the best crypto credit card. An account where a user has previously deposited money, such as a bank account, can be used to make card-based payments with a debit card from a financial institution like Visa or Mastercard. With a credit card, the user can start making purchases without having any money deposited with a bank or other financial institution. Every month, the user has a set amount they can spend, but they must also pay back all they spent.
How to Fund a crypto credit card:
The best crypto credit cards aim to make cryptocurrencies more widely usable on a daily basis. And the truth is that these cards frequently support various funding options. You can also use your Visa or Mastercard debit card to convert your Bitcoin, Ether, or other preferred cryptocurrency into local money. Still, having choices like direct deposit or using bank wires doesn’t hurt your payments.
Because you need not worry about having that bank account, it is easier for your crypto debit card to substitute for a bank account when there are numerous options for topping it up.
There are many options to fund your Crypto credit card, from using an exchange to directly using an existing Visa or Mastercard. But choosing an exchange is also crucial amidst the rising cyber-attacks. So you need to be careful while choosing an exchange. You can check out this upcoming exchange, XBO. It employs military-grade security to secure user privacy. It has already rolled out its XBO loyalty program and is looking for a face for its brand. So, hurry up, and make the best use of this opportunity to give your Crypto bandwagon a much-needed boost. Register here.
Many businesses are already operating with the help of the bitcoin market. However, since cryptocurrencies are relatively new, many misconceptions exist. So, choosing the best crypto credit card for yourself is important. While choosing a card, don’t forget to look into these attributes:
Benefits: To guarantee eligibility and availability, they examine each card’s terms and restrictions and the rewards each card offers.
Availability: You can use some credit cards right away, but others are still in a queue.
Withdrawal: They look into all the possible conversion mechanisms and their usability.
Security: To ensure the cards on our list adhere to industry standards for security, we carefully examined them.
Costs: To assess affordability, our staff looked at the fee structure for each card, including annual, international, and transaction fees.
If the crypto credit card has fulfilled all the hallmarks mentioned above, You can blindly choose that. It could be one of the best crypto credit cards.