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Gemini Credit Card: The Most Versatile Crypto Credit Card Available

You can earn rewards in over 60 cryptocurrencies, including bitcoin and ethereum.

The Gemini Credit Card®, which became available after its waitlist went live several months ago, is the latest entry in a new market of crypto credit cards. These cards reward you in cryptocurrency instead of traditional points, miles or cash back.

The Gemini Credit Card comes on strong with the most versatile offer in the crypto credit card arena. You can earn rewards from the widest variety of cryptocurrencies, and you can move them off of the Gemini platform and onto your own crypto wallet. The rewards program is competitive with the other top crypto credit cards -- the best fit depends on your specific spending habits.

While there’s no annual fee for this card, it does come with more inherent risk than traditional cash-back or rewards credit cards. The value of cryptocurrency rewards is more volatile and regulations are still being developed. As long as you understand the risk involved, it may be worth the rewards.

How to get the Gemini Credit Card

You can only apply for the Gemini Credit Card if you’re a registered Gemini user -- or willing to become one -- and a resident of any US state. Gemini is a cryptocurrency exchange used to buy and trade crypto, or hold it in an interest-bearing account.

In order to be approved for the card, applicants must have at least a “prime” credit score, according to Thomas Harrison, associate director of product for the Gemini Credit Card. A prime score typically refers to a credit score of at least 670, though each credit reporting bureau has its own benchmarks and scoring algorithms.

Account verification begins with signing up for a Gemini account. Then, you’ll upload a valid driver’s license or passport. Harrison told CNET in an email that the company aims to provide a verification decision within 24 hours. Once you’re verified, you’ll be able to apply for the credit card.

If approved, you’ll be able to choose between three card colors -- black, silver or rose. Not many credit cards offer this customization. You’ll also get instant access to a virtual card after approval, so you can start making transactions as soon as you’re approved while you wait for the physical card to arrive. You can use the Gemini Credit Card anywhere in the world where Mastercard is accepted, and there are no foreign transaction fees.

Rewards program

With the Gemini Credit Card, you earn 3% on dining, on up to $6,000 spent annually (then 1%). While the cap is a bit of a disappointment, it will cover the average American’s annual budget for restaurants, according to the Bureau of Labor Statistics. And the rewards rate could be competitive with some of the best restaurant credit card contenders.

You’ll also earn 2% back on groceries with no cap. While you can find higher rates amongst the best grocery credit cards that earn you cash back or points, this is the highest grocery rewards rate of crypto credit cards. 

For all other purchases, you’ll earn 1% back in crypto. This rate is typical of all rewards credit cards, crypto-earning or not.

What can you do with the crypto you earn?

There are no exchange fees to acquire your rewards. You’ll receive your rewards instantly when the transaction occurs, if possible -- otherwise, when your transaction posts (this can take up to a few days with typical credit cards).

When you receive your rewards they sit on the Gemini Exchange. But you can sell them for USD, trade them for another crypto (we recommend just changing your chosen rewards currency to avoid exchange fees) or move them to a Gemini Earn account, which functions like a savings account. While the yield may be high, netting you 0.5% to 8.05% annually depending on the cryptocurrency, this account is not FDIC insured like a traditional savings account.

Alternatively, Gemini enables users to move their crypto to their own wallet. A crypto wallet offers extra security for your holdings, putting you in control of your crypto rather than an exchange.

Choosing your rewards cryptocurrency

You can earn rewards in over 60 cryptocurrencies. Some of the most well-known include bitcoin, ethereum, filecoin, zcash, bitcoin cash, litecoin, dogecoin, tezos and solana. Harrison said that bitcoin and ethereum have been the most popular options with current Gemini Credit Card holders.

You can change your crypto rewards type at any time through the app. You will start earning the new cryptocurrency immediately on your next transactions, and there is no limit as to how many times you can change your cryptocurrency choice.

Do I have to pay taxes on my crypto rewards from Gemini?

In most scenarios, credit card rewards aren’t taxable as they’re more comparable to a rebate than income. Crypto credit cards may be prime for exceptions, however. If you choose to sell your cryptocurrencies, your earnings may incur capital gains taxes if you sell them at a price higher than your cost basis -- the price at which you acquire an asset that the IRS then uses to determine your profit. 

Gemini states on its website that your cost basis will be the price of the crypto at the time of disbursement. Talk with a tax professional to better understand the intersection of taxes and crypto activity.

Comparable cards

BlockFi Rewards Visa® Signature Card

The BlockFi Rewards Visa® Signature Card stands out as the other most prominent crypto credit card. 

While it offers fewer cryptocurrency types, you can also move your rewards to your own wallet. Depending on your spending patterns, the reward’s program could potentially offer more value: You get a 1.5% return on all of your purchases and if you spend $30,000 in a year, your rewards get bumped up to 2%. The spending threshold resets on your account anniversary.

For more information on this card and how to apply, see our full review of the BlockFi Rewards Visa Signature Card.

Venmo Credit Card

The Venmo Credit Card* has both more flexibility and more restrictions than the Gemini Credit Card. 

You earn rewards in the form of cash back, with the option to redeem that cash back for crypto without any exchange fees. The cryptocurrencies you can choose from are more limited -- bitcoin, litecoin, bitcoin cash and ethereum -- and you cannot move them off of the platform and into your own wallet. You’ll have to sell them at some point to use their value. But the rewards program is quite unique: You earn 3% on your highest eligible spending category, 2% on your second highest eligible spending category, and 1% on all other purchases. 

Eligible spending categories include travel, transportation, groceries, entertainment, dining and nightlife, bills and utilities, health and beauty, and gas.

Gemini Credit Card®

Gemini Credit Card®

4.4/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
No current offer
Annual fee
13.24% – 24.24% Variable
Intro Purchase APR
Rewards rate
1% – 3% 3% back on dining (up to $6,000 in annual spend, then 1%); 2% back on groceries.; 1% back on all other purchases.
Venmo Credit Card
Learn More

Venmo Credit Card

6/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
No current offer
Annual fee
20.24%, 26.24%, or 29.24% Variable
Intro Purchase APR
Rewards rate
1% – 3% Earn 3% on your eligible top spend category; Earn 2% on your second eligible top spend category; Earn 1% on all other eligible purchases and on Venmo person-to-person transactions


A crypto-rewards credit card is like a cash-back credit card -- except instead of redeeming cash or a statement credit, you redeem a predetermined amount of crypto. Crypto rewards cards are relatively new, but we expect this product type to expand in 2022 and beyond. Right now only referral bonuses received through crypto credit cards are taxable, though crypto rewards cards may have different tax implications in the future. Keep current on legislative news to follow developments.

Yes, the Gemini Credit Card is one of the few crypto financial products currently available that allows you to move your crypto off of its platform.

Some financial institutions only offer custodial accounts for crypto purchases and rewards earned. Some have advanced features, such as the ability to move your crypto off of a company’s platform, either to someone else or to your own crypto wallet for safekeeping. There is risk to holding your crypto in a custodial account, as there is no FDIC insurance to cover any losses incurred if a custodial account is hacked.

While bitcoin and ether are the most mainstream, the cryptocurrency you wish to receive in rewards is ultimately your preference. You might consider factors such as potential appreciation or depreciation, applicable uses and your own personal risk tolerance.

*All information about the Venmo 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.

Jaclyn is a CNET Money editor who relishes the sweet spot between numbers and words. With responsibility for overseeing CNET's credit card coverage, she writes and edits news, reviews and advice. She has experience covering business, personal finance and economics, and previously managed contracts and investments as a real estate agent. Her tech interests include Tesla, SpaceX, The Boring Company and Neuralink.