Over the past decade, the cryptocurrency space has gained a lot of traction. Digital currencies have slowly evolved to become a common alternative payment method. They have even found their way into the credit card world, with several cards offering rewards in the form of various cryptocurrencies.
Cryptocurrency credit cards function like traditional rewards credit cards. The only difference is that you earn cryptocurrency rewards on your everyday spending instead of cash back, points or miles. The reward rates and the types of digital currencies available vary by card.
6 Credit Cards That Offer Crypto Rewards
Earning crypto rewards with credit card spending is a low-risk way to grow your stash. Here are some crypto credit cards that can earn you rewards whenever you spend.
1. Gemini Credit Card
The Gemini credit card is an excellent choice for anyone looking to earn crypto rewards. With no annual fee or foreign transaction fees, the card offers rewards on all purchases, at rates that vary depending on your spending habits. The rewards are available in real time in bitcoin or any of the over 60 cryptocurrencies available on Gemini.
You can enjoy the following rewards:
- 3% back on up to $6,000 in dining, then 1%
- 2% back on groceries
- 1% back on any other purchase
- Rewards can be provided in bitcoin or any other supported cryptocurrency
- Rewards are credited to your account as soon as you swipe your card
The Gemini credit card is available in all 50 states, and you can spend anywhere that accepts Mastercard. Plus, the cards are available in sleek metal designs of your choice: black, silver and rose gold. Just be sure to pay your bill on time — the penalty rate is a steep 32.99%.
2. BlockFi Rewards Card
The BlockFi Rewards Card is another great choice for earning rewards. This credit card also comes with no annual fee and no foreign transaction fees. It offers several rewards in the form of bitcoin, ethereum or one of more than 15 other supported cryptocurrencies:
- 1.5% back on every purchase
- 2% back after annual purchases reach $30,000
- 0.25% back on all eligible crypto purchases and trades, capped at $500 in bitcoin per month
BlockFi’s Visa Signature credit card also comes with added benefits like up to 10% back at thousands of restaurants and retail brands, plus access to Visa’s luxury hotels, shopping, fine food and wine, sporting events and more.
3. SoFi Credit Card
The SoFi credit card not only earns you rewards but also lets you redeem them for cryptocurrency straight into your SoFi Active Invest account. Whether you’re looking to save, invest or pay down debt, a SoFi credit card might be a good fit. Like most cryptocurrency credit cards, there are no annual fees or foreign transaction fees, but you will pay a fee for cryptocurrency transactions other than rewards redemption.
The card earns 2 points per $1 spent, equal to 2% cash back on every eligible purchase. Points can be redeemed toward saving, investing or paying down a loan with SoFi. This can be boosted to 3% if you also sign up for direct deposit. You can also redeem rewards for a statement credit, but the reward drops to 1%.
A current promotion will credit you with $300 if you receive $5,000 or more in direct deposits in the 30-day evaluation period. Rewards of $100 and $50 are also available for direct deposits of $2,000 to $4,999 or $1,000 to $1,999, respectively.
4. Upgrade Bitcoin Rewards Card
With the Upgrade Bitcoin Rewards card, you’ll get an unlimited 1.5% back in bitcoin when you pay down your purchases on the card. Upgrade occasionally offers bonus rewards for cardholders, such as a $200 bonus for opening a Rewards Checking account and making three debit transactions. The card has credit lines from $500 to $25,000 available.
Once you sell your cryptocurrency, you’ll incur a 1.5% transaction fee, and you can only receive the proceeds in the form of a statement credit. The Upgrade card has no annual fee and no foreign transaction fees. It also has additional benefits that come with Visa, similar to BlockFi.
5. Brex Credit Card
Designed for business startups, the Brex card is another credit card that earns cryptocurrency rewards with no annual fees. You can redeem an unlimited number of points for bitcoin and ethereum at a rate of $7 worth per 1,000 Brex points, but you can also redeem points for cash, travel, gift cards or statement credits.
The Brex card offers point earnings across a wide range of categories:
- 7 points per $1 spent on rideshares like Uber and Lyft as well as taxis
- 4 points per $1 spent on travel booked via Brex Travel
- 3 points per $1 spent on restaurants and eligible Apple purchases
- 2 points per $1 spent on software
- 1 point per $1 spent on everything else
- Special rewards for life sciences conference tickets and lab supplies
6. Venmo Credit Card
The Venmo credit card lets you earn rewards on your everyday spending: 3% back on your top spending category, 2% back on your next spending category and 1% back on everything else. You can then use the cash back to auto-purchase the cryptocurrency of your choosing. When you opt for the auto-purchase feature, you won’t incur a transaction fee. This card also has no annual fee.
You can also use your rewards for a statement credit or peer-to-peer payments. The card comes with a unique QR code you can send to friends to make getting paid quick and easy.
If you’re a cryptocurrency enthusiast, using a crypto credit card can passively earn rewards that you can redeem as a digital currency. Like any other financial product, there’s no one-size-fits-all cryptocurrency credit card. No matter the card you choose, it’s important to read the terms and conditions carefully to ensure that you get one that fits your spending needs. Also, ensure you understand the available redemption options before you commit to one.
FAQHere are answers to some of the most frequently asked questions about credit cards with crypto rewards.
- Are crypto credit cards safe?
- Most experts agree that crypto credit cards are a relatively low-risk way to get into crypto investing.
- How do crypto card rewards work?
- Crypto card rewards work by allowing you to earn cryptocurrency instead of cash back or points for your spending. The way the cryptocurrency rewards are processed and awarded to the cardholder will vary according to each card issuer's rewards program terms and conditions.
Information is accurate as of Oct. 20, 2022.