If you're in the world of cryptocurrencies, using a crypto credit card is an easy way to earn crypto. The exact cryptocurrency you earn varies from card to card. Since some cards have different requirements to earn the highest rewards rate, it's important to know the details.
Cryptocurrency cards are relatively new, and new options are being released or made available in the U.S. in the coming months, adding to the budding industry.
CNBC Select takes a look at some of the current crypto cards for anyone interested in digital currencies.
Best for everyday spending
The Gemini Credit Card® can help cryptocurrency enthusiasts earn credit card rewards via several helpful everyday spending categories.
- Many transactions will have rewards instantly deposited into your Gemini Account
- Earn rewards in over 50 different types of cryptocurrencies available on Gemini
- No annual fee
- No foreign transaction fees
- Selling or converting your earned rewards may incur fees
- The 4% back on gas and EV charging is capped each month
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- No annual fee and no foreign transaction fees. See Rates & Fees to learn more.
- Get 4% back on gas, EV charging, transit, taxis & rideshares on up to $300 in spend per month. 1% thereafter. Spend cycle refreshes on the 1st of the calendar month.
- 3% back on dining, 2% back on groceries, 1% back on all other purchases.
- Your rewards are automatically deposited into your account immediately. In some rare cases, rewards are deposited when the transaction posts. Subject to Rewards Program Terms.
- You can earn rewards in bitcoin, ethereum or 50+ other cryptos currently available on Gemini.
- Beautifully designed stainless steel card that comes in six premium colors, made from 75% recycled material.
- Make a purchase with your Gemini Credit Card anywhere in the world where Mastercard is accepted.
- Maximize your crypto rewards by adding family, friends or a special someone to your primary account.
- Gemini-branded credit products are issued by WebBank and offer various benefits from Mastercard.
Who’s this for? The Gemini Credit Card® is a good option for people who are looking to earn various forms of cryptocurrency via spending in everyday categories, such as transit and dining.
Types of crypto earned: You can earn 50+ cryptocurrencies, including Bitcoin and Ethereum
Other great perks: The Gemini Card has no annual fee and comes with Mastercard® World Elite benefits.
Best for heavy crypto users
The Coinbase One Card could be a good option for heavy crypto enthusiasts who already have a large portion of assets invested in the ecosystem.
- Can earn up to 4% back in crypto
- No annual fee
- Helpful benefits through the Amex network
- No foreign transaction fees
- Large deposit requirement to earn highest rates
- Requires an annual membership
- Earnings above 2% are capped each month
Who’s this for? The Coinbase One Card could be a good option for you if you're already an avid Coinbase customer, as it requires a large deposit to earn the highest rewards rates.
Types of crypto earned: Bitcoin
Other great perks: If you have more than $200,000 in assets on Coinbase, you can earn up to 4% back in Bitcoin on the first $10,000 in monthly eligible purchases (then 2% back), and the card comes with Amex benefits like purchase protection and travel cancellation insurance. The card requires a Coinbase One membership, and the cheapest tier costs $4.99 per month or $49.99 per year.
Best for custom categories
Venmo Credit Card
Rewards
3% cash back on the eligible category in which you spend the most, 2% back on the second-highest eligible category and 1% back on all other purchases
Welcome bonus
None
Annual fee
$0, see terms
Intro APR
N/A
Regular APR
19.99%, 28.99%, 31.99% variable as of October 1, 2024
Balance transfer fee
N/A
Foreign transaction fee
None
Credit needed
N/A
Terms apply.
Pros
- No annual fee
- Rewards program that adapts to your spending habits
- No foreign transaction fees when traveling outside the U.S.
Cons
- Currently available to a random percentage of Venmo customers who’ve had a Venmo account for at least 30 days and who’ve been active in the last 12 months
- No welcome bonus
- No introductory APR offer
Who’s this for? The Venmo Credit Card is a great option for people who want flexibility in their spending categories while earning crypto, as the card automatically applies the highest rewards rate to the category you spend the most in.
Types of crypto earned: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, Chainlink and PayPal's stablecoin
Other great perks: You can toggle the option of earning cryptocurrency vs. cash back as rewards on and off right in the Venmo app, and can easily add it to your Apple Pay®, Google Pay™, or Samsung Pay® wallet.
Best for debit card users
The Coinbase Visa® Prepaid Debit Card is a good way for people less familiar with cryptocurrencies, as you can choose (from a selection) which crypto you earn, and it has no annual fees.
- Can select from rotating crypto options
- No annual fee
- Uncapped rewards
- No subscription required
- The reward rate varies
- Not available in Hawaii
Who’s this for? Coinbase Visa® Prepaid Debit Card is a simpler option, with no annual fees or subscriptions required, but less control over your exact rewards.
Types of crypto earned: You can choose from a continuously rotating selection of cryptocurrencies.
Other great perks: If paying with cryptocurrency, the Coinbase Prepaid Debit Card automatically converts your crypto of choice to USD for the purchase, plus the card earns uncapped rewards with no subscription required.
Best cards for earning crypto
| Credit card | Annual fee | Available Crypto Rewards |
|---|---|---|
| The Gemini Credit Card® | $0 | Bitcoin, Ether or 50+ other cryptocurrencies |
| Coinbase One Card | None, but it does require a Coinbase One membership | Bitcoin |
| Venmo Credit Card | $0, see terms | Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, Chainlink and PayPal’s stablecoin |
| Coinbase Visa® Prepaid Debit Card | $0 | Rotating selection of cryptocurrencies |
Is investing in cryptocurrency a good idea?
If you personally believe in the future of cryptocurrency, that could make it a good fit for your financial portfolio, but you should typically follow similar investing guidelines. Since cryptocurrency has the chance to be particularly volatile, never invest more than you are prepared to lose. It's also a good idea not to over-allocate in a single cryptocurrency.
With crypto being a decentralized currency, meaning it's not controlled by a single entity like a government or bank, it can be more accessible and have faster transfer times with lower fees. This also means that cryptocurrencies are not insured by any government-backed programs, like the FDIC, while more traditional bank accounts are.
Investing in cryptocurrency isn't inherently good or bad, but it comes down to your risk tolerance and current financial goals.
Should you earn rewards in crypto?
Most crypto cards earn rewards in a similar way to traditional cash-back credit cards, you spend with the card and receive a percentage of that purchase in rewards. For some, this is a way to diversify their investments by adding crypto to their investment portfolio. There's also the chance that the crypto you earn could increase in value, but you have to keep in mind, the inverse is true as well.
Instead of opting for a credit card that earns crypto, consider using a regular cash-back card with a high return where you spend the most and then buying crypto directly. While this adds extra steps, it also gives you more control over the crypto you purchase and how it's stored.
Earning cryptocurrency rewards via credit card spending can be a good option for those who'd prefer to swipe without thinking about it or to make use of the additional benefits these cards offer.
Pros and cons of crypto cards
- Convenient way to spend crypto: Some crypto debit cards will automatically convert your selected crypto to USD when making a transaction.
- Earn on everyday purchases: Many cards will allow you to earn crypto in categories that you already spend in, like groceries.
- Your "rewards" could grow: Since the conversion rate of crypto can fluctuate, the value of your cryptocurrency rewards could increase.
- Crypto is volatile and can lose value: On the other hand, crypto is often volatile and your cryptocurrency rewards could decrease in value.
- Need a base level of knowledge: While investing in crypto can be relatively simple, it's still different from other financial tools.
- Limited availability: Several upcoming crypto cards are either not ready for consumers yet or unavailable in the United States.
FAQs
How will crypto cards affect my taxes?
While this will vary from case to case, if you're converting crypto to a fiat currency to make a purchase, this is subject to capital gains taxes. However, since credit cards require spending to earn crypto rewards, these are typically not taxable.
How can I spend my crypto rewards?
There are often a few different ways to spend your earned crypto rewards, with some cards allowing you to spend it directly or you can sell your crypto.
Do crypto cards offer welcome bonuses?
While it's less common, some crypto cards, like the Gemini Credit Card, have welcome bonuses for new cardholders to earn.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools. See our methodology for more information on how we choose the best cards for earning crypto.
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Our methodology
To determine to the top crypto cards, CNBC Select analyzed over major credit cards that are widely available in the U.S. and earn crypto rewards.
We compared each card on a range of features, including rewards (e.g., cash back, points and miles), annual fees, welcome bonuses, introductory and standard APR and balance transfer fees and foreign transaction fees. We also considered additional perks (e.g., ongoing travel or merchant statement credits), cardholder protections (e.g., purchase protection, $0 liability protection and travel insurance), the application process when available (e.g., is there a credit pull or required credit score) and how easy it is to redeem points (e.g., are rewards are tied to a specific brand; if transferable, to how many/which partners, can you redeem for straight cash back).
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
For the cards that offered a rewards program, we considered consumer spending data forecasts from location intelligence firm Esri to determine where U.S. consumers are spending the most money, like on dining and travel. We used this to help determine what bonus categories are most useful for consumers.
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