Gemini Credit Card Review: Is It the Right Crypto Rewards Card for You?

GOBankingRates Score

4.5
Quick Take: Considering the increasing influence of cryptocurrency, many credit card companies have begun to leverage the popularity of decentralized finance. The Gemini credit card stands out from other cards of its sort due to two features: there are no annual fees, and cardholders can earn crypto directly. However, the lower earning rates of the Gemini credit card may limit its consumers, only appealing to people who genuinely believe in cryptocurrency's futuristic potential.
  • Ease of Use
    4.0
  • Fees
    5.0
  • Rewards
    4.5
  • Security
    4.5
How did we calculate this?

Pros

    • No annual fees
    • Earn cryptocurrency, such as Bitcoin, in real time
    • Feature-rich app to freeze and manage your card
    • Over 60 supported assets
    • Mastercard benefits, like zero-liability protection and price protection
    • Earn up to 3% on dining, 2% on groceries and 1% on all other purchases

    Cons

    • No welcome bonus
    • Only two categories feature rewards rates above 1%

    Gemini Credit Card Overview

    Irrespective of one’s interest in cryptocurrency, it cannot be denied that the crypto market is booming. A crypto-based card such as the can allow many people to begin their crypto journey without learning much about the technicalities and jargon of the field.

    The Gemini credit card lets you earn crypto in real time. Although most users prefer Bitcoin, Gemini also offers a host of other cryptocurrencies, including Ethereum and some smaller, lesser-known coins.

    What sets the Gemini credit card apart from other crypto-earning cards is the ability to earn rewards in real time. Simply put, it means that cardholders will get crypto soon after finishing their purchase.

    Other cards mostly give cash back to cardholders, which is further converted to cryptocurrency when the month ends. The major drawback of this method is that you will be subjected to the exchange rate of the day you redeem your rewards.

    On the other hand, the Gemini credit card frees you from any worry about the exchange rates.

    Features of the Gemini Credit Card

    Here’s a look at some of the features you should consider to help you decide whether the Gemini credit card is right for you.

    Ease of Use

    Judging from the information on Gemini’s website, the card is easy to use, and there is no learning curve involved. Crypto is deposited into the cardholder’s account immediately after any purchase, with the exception of certain transactions, such as those made at hotels, car rental agencies and gas stations, which are specified as pre-authorizations. In those instances, you will receive rewards when the transactions post.

    Cardholders do not have to pay trading fees or consider the market condition. Gemini also lets cardholders choose their preferred cryptocurrency. Currently, there are more than 60 options available.

    Fees

    You do not have to pay annual fees to use the Gemini card. Plus, there are no exchange fees to acquire crypto rewards, nor is there a fee on foreign transactions. However, you may be charged fees if you convert or sell your crypto rewards.

    Rewards

    While most other crypto-earning cards make you wait a month to access your rewards, Gemini gives you instant rewards as soon as you swipe. According to its website, you get:

    • Up to 3% back on dining
    • 2% back on groceries
    • 1% back on other purchases

    You can hold your rewards, trade them or transfer them to Gemini Earn, which allows you to receive up to 8.05% APY on your crypto, including stablecoins. Gemini also lets you change the crypto reward type whenever you want.

    Plus, there is no limit on how many times you can change the cryptocurrency you want to earn.

    Security

    Gemini claims to offer world-class security to its cardholders. It designed these cards with a security-first approach, removing the card numbers from the card to ensure your account details do not land in the wrong hands. Other security features include encryption and two-factor authentication.

    Cardholders can also freeze their cards through the Gemini app in case of theft or misplacement.

    Gemini’s security-first mentality aims to protect cardholders from external threats, misuse of insider access and human error.

    How Does the Gemini Credit Card Stack Up?

    The Gemini credit card’s features are comparable to the SoFi credit card since the latter also lets you earn cryptocurrency through cash-back rewards. However, you do not earn crypto in real time with SoFi.

    Instead, the cash-back reward points have to be converted into crypto through SoFi’s app. The credit card also has other perks, such as a three-month free trial of DashPass from DoorDash and cellphone insurance coverage of up to $1,000.

    Thus, it is an excellent card to consider if you prefer having the liberty of combining crypto earnings with regular credit card perks. Meanwhile, the Gemini credit card is ideal for people who like earning crypto in real time.

    Who Is the Gemini Credit Card Best For?

    The Gemini card is ideal for people who already have some know-how of cryptocurrency or believe in the lucrativeness of crypto investments. Moreover, anyone who wants to earn crypto passively can also benefit from the card.

    It is an attractive option for anyone who is more concerned with crypto and less with additional incentives and bonuses.

    Final Take

    Sure enough, Gemini has managed to give its card an upper hand with the real-time crypto reward earning. With Mastercard benefits, world-class security, up to 3% back on dining and 2% on groceries, plus integration with other features, like Gemini Earn, the Gemini credit card definitely has appeal.

    Click here to visit the site and learn more.

    Good To Know

    Although Gemini lets you earn crypto rewards in real time, some other crypto-earning cards have higher rewards rates. They also offer up to 2% unlimited cash back on most purchases, letting you earn much more in rewards than you would with Gemini, which only offers 1% back for purchases other than dining and groceries.

    Cynthia Measom contributed to the reporting for this article.

    Information is accurate as of May 26, 2022.

    Editorial Note: This content is not provided by Gemini. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Gemini.

    GOBankingRates maintains editorial independence. While we may receive compensation from actions taken after clicking on links within our content, no content has been supplied by any advertiser prior to publication. We always recommend reviewing the terms and conditions of any offer before signing up or applying.

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    About the Author

    Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance. After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He's helped startups to Fortune 100 companies bring software products to life. When he's not writing or building software, Scott can be found reading or spending time outside with his kids.

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