Best Crypto Credit Card in 2024

Earning free cryptocurrency simply for buying the things you usually buy sounds like a pretty attractive proposition—and this is why crypto credit cards have become increasingly popular in recent years.

They work just like a regular rewards credit card, but instead of earning air miles or cashback, you’ll get 1-3% back in crypto on your purchases. Not all crypto credit cards are the same though. They offer different rewards programs, interest rates, fees, and perks.

In this article, we’ll be comparing all these factors and discussing safety and use cases. So if you’re trying to work out which is the best crypto credit card for your lifestyle, we’ve got you covered.

Top Crypto Credit Cards

1. Gemini Credit Card: Our top crypto credit card with generous rewards and zero annual fees.
2. Venmo credit card: A reputable card that supports 4 different cryptocurrencies and is a great choice for managing your spending.
3. Upgrade Bitcoin Rewards Card: The best welcome bonus for new users

1. Gemini Credit Card – Best for Instant Crypto Rewards

The Gemini Credit Card provides an effortless way to earn crypto rewards quickly. Whenever you make a purchase, your crypto cashback will be deposited into your account instantly—without any exchange fees. You can choose from over 60 cryptocurrencies to earn rewards in, and you can switch coin whenever you like.

The card brings you the best of both worlds. As a crypto exchange, Gemini enables you to easily sell or trade your crypto rewards. As a Mastercard credit card, the Gemini card comes with theft protection, zero liability protection, and exclusive offers with select merchants.

The metal cards are available in black, silver, and rose gold. Their sleek design has a focus on security—there are no account details on the card to better protect users. If you prefer to go digital, you can simply use the virtual card and manage your account from the Gemini app.

2. Venmo Credit Card – Best For Managing Your Spending

The Venmo Credit Card is simple and convenient. Although it doesn’t provide instant crypto rewards, you can turn on the crypto auto-purchase feature, so that when you receive your cashback at the end of each month, it will automatically be used to buy crypto without transaction fees.

Like the Gemini card, there are three reward rates for different spending categories, but unlike Gemini, Venmo lets you pick your own categories. So whether you’re a big shopper or a regular traveler, you can customize your settings to maximize your rewards.

It’s easy to track your spending habits as you can view a clear breakdown in the Venmo app. Splitting the bill is painless as the card design features a unique QR code that your friends can scan to pay their share. You’ll also get access to a virtual card and the Visa Zero Liability Policy. In addition, The Venmo Credit Card offers innovative features and benefits, including seamless payment options, rewards, and even the potential for exploring the world of crypto loans.

3. Upgrade Bitcoin Rewards Card – Best For A Welcome Bonus

The Upgrade card is attractive to new customers as they can receive a $200 bonus simply by opening a Rewards Checking account and making three debit transactions. Users can open credit lines from $500 to $25,000 and pay down balances with fixed and affordable monthly payments.

The card offers unlimited rewards of 1.5%. However, they can only be paid in Bitcoin and you only receive them after you make a payment on your purchases. You can also earn up to 10% extra cashback with participating merchants through Upgrade Shopping. In addition, Upgrade’s Bitcoin Rewards Card offers a unique advantage to cryptocurrency enthusiasts, providing not only lucrative bitcoin rewards but also access to exclusive benefits such as competitive bitcoin loans.

The fixed rate and term for balances mean that the Upgrade card works out lower cost than traditional credit cards. But you’ll still benefit from Visa’s fast and safe contactless card technology.

Best Crypto Credit Cards Compared

See the table below for how the best crypto credit cards compare on the most important facts and figures.

How Do Crypto Credit Cards Work?

A crypto credit card works in much the same way as a traditional rewards credit card: when you make eligible purchases, you receive rewards. But instead of getting cashback or air miles, you get cryptocurrency (or points/money that is then redeemed for crypto).

The exact process varies by provider. While Gemini instantly deposits crypto into your account whenever you make a purchase, Venmo uses your cashback at the end of each month to auto-purchase crypto, and Upgrade gives you BTC when you make payments on your purchases.

As with any other credit card, you borrow money to make purchases and pay it back in monthly payments. If you don’t pay off your bill in full each month, you’ll need to pay interest on top.

How To Use A Crypto Credit Card

You can use your crypto credit card just like you would any other credit card. Make purchases using a line of credit and then pay your bill at the end of the month. The crypto credit cards on this page are Mastercard and Visa cards, so you’ll be able to use them anywhere those cards are accepted.

The only added step is deciding what to do with your crypto. With Upgrade, your only decision is when to sell your BTC for statement credit. With Venmo, you’ll be able to choose one of four cryptocurrencies to earn in, and you can change cryptocurrency or switch to regular cashback at any time.

The Gemini card gives you the most choice as it is connected to a crypto exchange. You’ll have more than 60 cryptocurrencies to choose from, and when your crypto rewards land in your exchange account, you can sell them, transfer them to another wallet, or trade them using a variety of advanced tools.

Are Crypto Credit Cards Safe?

Crypto credit cards come with much the same security features as other Mastercard and Visa cards. This means that your account will be monitored for suspicious activity and you’ll be protected by a zero-liability policy in the event of loss, theft, or fraud.

However, while regular bank accounts are protected by FDIC insurance, crypto accounts aren’t. And if the history of FTX and BlockFi has taught us anything, it’s that the biggest risk of using a crypto credit card is that the company behind it could fail. In this event, any crypto rewards they’re holding for you could get caught up in bankruptcy proceedings.

The other main risk of a crypto rewards card is the obvious one: crypto is highly volatile. While it’s possible your rewards could significantly increase in value, it is also possible their value could fall dramatically without any warning.

Should You Get a Crypto Rewards Credit Card?

This is something you’ll have to decide for yourself based on your personal needs, spending habits, and financial skills. Here are some of the things you should take into consideration.

• Rewards – If you want to build your crypto portfolio, then a crypto credit card could be a better option than a normal credit card. But consider the rates and whether you can pay off your balance. The rewards rates are much lower than the interest rates, so it’s not worth getting a card just for the rewards if you don’t use it responsibly.

• Effect on credit score – When you apply for a card, the provider will run a credit check, which could leave a dent in your credit score. If you use your card responsibly, it could improve your score over time, but missing payments could bring down your credit score significantly.

• Protections – A credit card will enable you to get your money back if your card is lost or stolen. But bear in mind that your crypto rewards probably aren’t insured.

• Money management skills – You’ll need to be able to set aside money to make at least the minimum payment each month. If you miss payments, it’s easy to quickly spiral into debt.

• Interest rates – It’s a good idea to look for lower rates in case you ever end up carrying a balance. The interest rates for crypto credit cards are within a similar range to regular credit cards.

• Fees – Find out what incurs fees and how much they are. Fortunately, none of the crypto credit cards reviewed here charge annual fees; but fees for late payments, returned payments, and cash advances can add up.
  
• Spending habits – If you can manage your spending well, a credit card can be a good way to pay later for things you need now and spread the cost of major purchases. However, if a credit line would tempt you to overspend, a crypto debit card might be a better choice.
  
• Future value of crypto – Crypto is highly volatile. You might see the value of your rewards soar in a bull market or crash in a bear market. You need to be prepared for either eventuality.

Crypto Credit Cards vs Crypto Debit Cards

With a crypto credit card, you borrow fiat money to make purchases and then pay it back in fiat money with any necessary interest. What differentiates it from regular credit cards is that you earn crypto rewards in the process.

With a crypto debit card, you don’t borrow any money. Instead, your card is connected to your crypto account. When you use your crypto debit card, some of your crypto is converted to a fiat currency and used to pay for your purchase. You may or may not earn crypto rewards with a crypto debit card.

A crypto credit card could be suitable if you:

• Want to buy things now and pay later
  
• Want to spread the cost of major purchases
  
• Have a good enough credit score
  
• Can manage your spending responsibly
• Want to earn crypto rewards

A crypto debit card could be suitable if you:

• Have a lot of crypto that you want to be able to spend
  
• Want to avoid interest and additional fees
  
• Have a low credit score
  
• Don’t have strong money management skills and want to avoid debt
  
• Want to earn crypto rewards (depends on provider)
  

Final Thoughts

If you prefer free crypto to air miles or other cashback rewards, then a crypto credit card could be right up your alley. Just be responsible with your spending as the crypto interest rates will significantly outweigh the rewards if you borrow too much.

If you’re not great with managing your money, or you simply want to be able to spend the crypto you already own, then a crypto debit card might be more your cup of tea.

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