Credit Cards

Best Crypto Credit Cards for May 2022

Earn cryptocurrency rewards with these credit cards -- some even let you move your rewards to your own crypto wallet.

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In contrast to traditional credit card rewards offering points, cash and miles, a new generation of cards offers rewards in bitcoin, ether and other cryptocurrencies. 

Because you can use these credit cards to earn crypto rewards -- without incurring the trading costs that are typical when buying on an exchange -- they could be an optimal, low-stakes on-ramp to experimenting with cryptocurrency. That said, rewards on crypto credit cards are considerably more volatile than points, miles and US dollars. What's more, regulations and tax laws continue to evolve in this market, and legislators and enforcement agencies are applying particularly high levels of scrutiny with institutions offering crypto products. So, with that, a reminder: caveat emptor. 

We chose the best crypto credit cards that are currently on the market. This list does not currently contain crypto debit cards or prepaid cards, and it will be updated as new cards roll out.

The best overall crypto credit card

Card Highlights
Intro OfferN/A
APR13.24% - 24.24% Variable
Recommended Credit N/A
Reward Rates
  • 3% back on dining (up to $6,000 in annual spend, then 1%)
  • 2% back on groceries.
  • 1% back on all other purchases.
Annual Fee$0
Intro Purchase APRN/A
Additional Details
Penalty APR 30.24%
Rewards & Redemption Details
  • 3% back on dining (up to $6,000 in annual spend, then 1%)
  • 2% back on groceries.
  • 1% back on all other purchases.

Our Take

This card lets you earn credit card rewards in bitcoin, ether or more than 60 other cryptocurrencies. You'll earn 3% back on dining (on up to $6,000 in annual spend, then 1%), 2% on groceries and 1% on all other purchases. These rewards rates are pretty competitive, and the cryptocurrency rewards selection is the largest available by far. Rewards are earned the instant you make a purchase, meaning you don't have to wait for the end of the month to get a payout. You're even able to move your rewards to your own crypto wallet, which is a major score for flexibility.

For more details, see our full review of the Gemini Credit Card.

Another versatile option

Card Highlights
Intro OfferEarn 3.5% crypto rewards on all purchases in the first 90 days of card ownership, up to $100 in crypto.
APR14.99% - 24.99% (Variable)
Recommended Credit Excellent/Good Credit
Reward Rates
  • Earn 1.5% back in crypto on every single purchase.
Annual Fee$0
Intro Purchase APRN/A
Additional Details
Late Payment Fee Up to $25
Foreign Transaction Fees None
Rewards & Redemption Details
  • Earn 1.5% back in crypto on every single purchase.

Our Take

We like the BlockFi Rewards Visa® Signature Card for a lot of reasons. First, it offers more than 10 cryptocurrency reward options beyond bitcoin. It's also the only one that allows you to move your crypto into your own wallet -- a key distinction that will make it attractive to crypto enthusiasts. Previously, the rewards you earned of 1.5% back on every purchase automatically earned interest when held in a linked BlockFi Interest account, but that offer has been ceased by order of the Securities and Exchange Commission. It's unclear if that feature will return in the same form, despite BlockFi's claim that it intends to get its business compliant quickly. The volatility clearly isn't reserved for crypto prices alone -- there is some inherent risk of abrupt changes in crypto products as the legal dust settles.

Check out our full review of the BlockFi Credit Card for more details.

Cash-back card you can redeem as crypto

Card Highlights
Intro OfferN/A
APR15.24% - 24.24% Variable APR
Recommended Credit Excellent, Good
Reward Rates
  • Earn up to 3% on your eligible top spend category
  • Earn up to 2% on your second eligible top spend category
  • Earn 1% on all other eligible purchases and on Venmo person-to-person transactions
Annual Fee$0
Intro Purchase APRN/A
Additional Details
Foreign Transaction Fees None
Rewards & Redemption Details
  • Earn up to 3% on your eligible top spend category
  • Earn up to 2% on your second eligible top spend category
  • Earn 1% on all other eligible purchases and on Venmo person-to-person transactions

Our Take

The Venmo Credit Card is a cash-back rewards card, but you can choose to redeem rewards in crypto -- bitcoin, ethereum, litecoin or bitcoin cash -- at the end of each month. Unlike some other credit cards, there are no transaction fees for converting rewards to cryptocurrency. Venmo automatically assigns your highest cash-back rate to your highest spending categories. You'll earn 3% back on your highest eligible spend category, 2% on the second highest eligible spend category and 1% on all other eligible purchases, so you don't have to strategize your spending to maximize your rewards. The major drawback is that you cannot transfer your crypto from Venmo's custodial platform to an exchange or your own wallet, which may be a dealbreaker for some.

An alternative bitcoin rewards card

Card Highlights
Intro OfferN/A
APR8.99% - 29.99%
Recommended Credit Excellent/Good Credit
Reward Rates
  • 1.5% back in bitcoin when you make payments
Annual Fee$0
Intro Purchase APRN/A
Rewards & Redemption Details
  • 1.5% back in bitcoin when you make payments

Our Take

The Upgrade Bitcoin Rewards Visa is a simple crypto credit card -- or perhaps we should say bitcoin card. Though it doesn't offer anything above and beyond other cards, it's a satisfactory alternative if the other options aren't right for you. You'll only earn bitcoin, but it does offer the same rewards rate as BlockFi at 1.5% back on all purchases. You can use the Upgrade Bitcoin Rewards Visa anywhere Visa is accepted, but you cannot move your bitcoin from the custodial Upgrade platform to your own wallet, limiting your "ownership" to price exposure. The only thing you can do with your bitcoin rewards is hold them in the custodial account or sell them to redeem as a statement credit at a time of your choosing. While this is limiting, it's still one of the most straightforward crypto rewards cards publicly available right now.

FAQs

Do I have to pay taxes on my crypto rewards?

While legislation is still being hammered out, it is important to track your cryptocurrency buy-in prices so you can report any capital gains you may owe taxes on. If and when you sell your cryptocurrency holdings, you may be required to report capital gains and losses to the IRS. Major tax software platforms are building out support for reporting crypto on your taxes, or you can consult with a tax professional to determine your specific needs.

Are crypto credit cards safe?

Cryptocurrencies are widely considered high-risk and volatile assets, so the value of your rewards balance may fluctuate significantly over time with no guarantees. Accounts where cryptocurrencies are held are not FDIC-insured like banks, and some have ongoing legal challenges. Legislation is still evolving and has not yet been solidified surrounding cryptocurrencies, so there is inherent risk in the unknown.

Read more: Bitcoin and Cryptocurrency Regulations in 2022

Are there any crypto debit cards on the market?

There are also some crypto debit cards on the market, including the Crypto.com Visa Card, the Robinhood Cash Card, the Binance Visa Card and the upcoming Coinbase Card. All of these cards allow you to spend your crypto at public merchants and earn crypto rewards on your expenditure. Many new products are likely to hit the market in the next few years, as Visa has partnered with over 60 platforms to work toward enabling crypto transactions worldwide.

Our methodology

CNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone's financial situation is different -- and the designated function of a card. 

For cash-back credit cards, for example, key factors include the annual fee, the "welcome bonus" and the cash-back rate (or rates, if they differ by spending category). For rewards and miles cards, we calculate and weigh the net monetary value of a card's respective perks. And with balance transfer credit cards, we analyze specs such as the duration of the introductory 0% APR period and the balance transfer fee, while acknowledging secondary factors such as the standard APR and the length of time you have to make a balance transfer after you open the account.

*All information about the Venmo Credit Card and Gemini Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.