The world is increasingly getting digital, and this includes how we spend. Because the cryptocurrency sector is rapidly expanding, our team keeps a close eye on trends and new product releases to stay on top of the latest developments. The crypto rewards credit card is a new concept that is swiftly gaining traction.
Consumer interest in earning rewards in this new approach on ordinary purchasing is rising as more crypto cards become available. Crypto credit cards work similarly to standard credit cards, with the exception that they use digital money, such as Bitcoin, to source cash and pay incentives. You can still enjoy flexible spending with improved benefits thanks to Bitcoin, which is backed by well-known card networks such as Visa and Mastercard.
We continuously study and evaluate various crucial variables to discover the finest crypto credit cards available today. This covers not just the reward system, but also the pricing and costs connected with it, as well as cryptocurrency alternatives, payment methods, and exchange possibilities.
Crypto.com Visa card
The Crypto.com Visa card, being one of the first crypto cards, integrates smoothly into your life, offering a plethora of benefits that make sense in everyday life.
To get started, acquire CRO tokens from Crypto.com and stake them in your Crypto.com wallet. Before applying for the card, prospective cardholders must stake CRO tokens for 180 days. The card tier is determined by the amount of CRO you have staked.
The Crypto.com card is a prepaid card that uses Crypto.com’s own digital money, despite being referred to as a debit card. There is no monthly limit on the number of currency exchange transactions you can do, so you may make as many as you need.
Cardholders receive a 100 per cent rebate for their most-loved services, such as Amazon Prime, Netflix, and Spotify, depending on their card tier.
The CRO back and other benefits vary by card tier, with cards giving 1 per cent to 8% CRO back and other benefits. If you have the travel itch, there are benefits as well, with 10% back on Airbnb and Expedia purchases for the first year.
Gemini Credit Card
Gemini gets crypto rewards automatically, which are interoperable with over 50 different cryptocurrencies. While there are no exchange costs, it’s crucial to keep in mind that exchanges aren’t always guaranteed. There is no yearly charge, and there is also no welcome incentive. Depending on your card, transaction fees range from 0.5 per cent to over 4 per cent. WebBank issues the Gemini card, which operates on the Mastercard network and allows customers to shop at any business that accepts Mastercard. A handy app will also assist you to manage your account, such as freezing and unfreezing your card, and live customer care will be accessible 24 hours a day, 7 days a week.
Members also have access to Mastercard exclusives including special discounts on Lyft, DoorDash, and HelloFresh purchases, as well as a ShopRunner subscription. The benefits of Mastercard’s distinguishing Mastercard ID Theft Fortification, as well as Zero Liability and Price Protection, are included.
Although the Gemini card is now unavailable, you may join the queue to be alerted when applications are accepted. The card will be offered in black, silver, or rose gold in all 50 states, with a shiny metal design.
Wirex Visa Card
The Wirex card allows you to send money anywhere around the world without having to pay high conversion rates. This card is compatible with more than 150 currencies and accepted at more than 80 million locations worldwide, including online and in-store retailers, in addition to free foreign ATM withdrawals.
Wirex funds your account and grants you access to advantages using staked tokens called WXT. Wirex also launches Crypto back, a new type of rewards programme that provides you 2% back in WXT rewards for qualified in-store transactions only. Wirex will give you an extra $10 in Bitcoin if you suggest new users. This is on top of the regular 1.5 per cent cash back on in-store purchases.
The Crypto back programme is a subscription-based service that lasts for a year. Cardholders will get 2 per cent to 8% back in X-Points for purchases, depending on the price plan they pick. X-Points are worth one penny apiece and may be exchanged for bitcoin. Earning 2% is free; earning 4% costs $10 per month or $102 per year. Cardholders will need to spend $30 monthly or $306 yearly to receive 8% back.
BlockFi Rewards Visa Signature card
The BlockFi Rewards Visa Signature is a credit card that lets customers earn interest on their Bitcoin holdings. The default reward structure for your BlockFi card is bitcoin. A 1.5 per cent return on purchases is given out in Bitcoin and saved in your BlockFi account as a reward. You may use your card anywhere for improved purchasing power. When travelling, visas are accepted, and there are no foreign transaction costs.
There are no transaction costs, which means you save money over time. In addition, during the first three months, you’ll get 3.5 per cent back in BTC for every purchase, up to a maximum of $100 in BTC. When cardholders spend more than $50,000 per year, they will receive an improved 2% rewards scheme. You will get an extra $30 in Bitcoin leads if you recommend a friend. Cardholders will also receive 0.25 per cent back in BTC for qualified trades, up to a maximum of $500 per month in BTC.
Coinbase Visa Card
Coinbase, which was founded in 2012, was already a well-known cryptocurrency exchange when it debuted its Coinbase Visa card. The Coinbase Visa functions similarly to any other Visa card, with the exception that it may be used to purchase any asset in your Coinbase portfolio.
It uses your Coinbase balance (not your Coinbase Pro, Wallet, Prime, or Commerce account), so you may pay with a PIN or withdraw from an ATM just like a regular card. A daily spending restriction of $2,500 and a daily ATM withdrawal limit of $1,000 apply.
When a purchase is made, cardholders can choose to receive 1% back in BTC or 4% back in XLM. The Coinbase Visa may be used everywhere Visa is accepted and has no foreign spending restrictions. There are additional security features like two-step verification, as well as the ability to freeze your card instantaneously using a robust mobile app that keeps you in control of your account. Account notifications, digital receipts, and transaction summaries are also available, making bookkeeping a breeze.
Conclusion
Crypto credit cards aren’t a brand-new concept, but they’ve exploded in popularity in the last year or so. Even though Bitcoin was first marketed as a tool to transform the world of online payments, the majority of individuals now use crypto assets as a store of wealth or for speculative trading. Indeed, public, decentralised blockchains have scalability constraints, which has paved the way for credit debit cards to become a popular choice for crypto enthusiasts who wish to spend part of their holdings in the real world.
