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Savvy consumers know that every purchase is an opportunity to earn cash back or travel rewards. If you’re into Bitcoin, Ethereum, and other cryptocurrencies, however, you have a new option: cryptocurrency rewards credit cards.
Crypto rewards cards work exactly as they sound. You can earn cryptocurrency as rewards when using the card for any regular purchase, from the grocery store to the gas station to online shopping. If that sounds good to you, keep reading for a look at some of the best cryptocurrency rewards cards and other top credit cards to invest in cryptocurrency.
Bitcoin: Pros and Cons of Cryptocurrency Investing
Cryptocurrency Rewards Cards
If you want to go directly from credit card rewards to crypto, you’ll want a specific crypto rewards card. Here are some top options to consider:
PayPal Mastercard
The PayPal Cashback Mastercard offers 2% back on all purchases with no annual fee. The PayPal Extras Mastercard includes 3x points per dollar on gas and restaurants, 2x on PayPal and eBay purchases and 1x everywhere else. In both cases, rewards can be redeemed into a PayPal account.
Once your balance is credited, you can buy and hold crypto with PayPal. Current offerings include Bitcoin, Ethereum, Litecoin and Bitcoin Cash. That’s effectively a way of getting 2% back in crypto rewards as long as you’re willing to take the extra steps to cash out and click the crypto buy button.
Crypto.com Card
The Crypto.com Visa is available in five different versions, requiring a different staking level (crypto balance on deposit) of the CRO coin in a linked Crypto.com account. The basic version requires no staking and pays 1% back in CRO. With higher balances, you can earn up to 8% back, though the highest tier requires a massive $400,000 deposit.
It also offers bonuses at popular merchants like Spotify, Netflix and Amazon Prime, depending on your balance. With a $40,000+ CRO balance, you’ll qualify for airport lounge access. The CRO-only rewards are not ideal for everyone, but it’s a fun option to get rewarded in crypto.
Brex Card
If you own a small business, the Brex card includes an option to redeem rewards for cryptocurrency. I find redeeming for travel the best option here. You also get 1% redeeming for cash back in regular dollars while there’s an effective rate of just 0.7% back when redeeming for crypto. While it isn’t the best reward option from Brex, it does give you an option to earn crypto with a card.
BlockFi Bitcoin Rewards Credit Card (Waitlist Only)
With the BlockFi Bitcoin rewards card, you’ll earn 1.5% cash back with no annual fee and no foreign transaction fees. Rewards are automatically paid to you in Bitcoin through a BlockFi account. It’s important to note that the card is waitlist only right now, so you won’t be able to sign up directly right away.
Gemini Credit Card (Waitlist Only)
Crypto exchange Gemini is cooking up a credit card with up to 3% cash back. Cardholders will earn 3% on dining, 2% on groceries and 1% everywhere else with no annual fee. You can redeem rewards in Bitcoin or any other coin supported on the Gemini platform. This card is currently waitlist only, launching later “this summer.”
Unifimoney Credit Card (Coming Soon)
Unifimoney is a bank and investment app in one run through an iOS app. It has a Visa Signature card coming soon that will include the option to redeem rewards in your investment portfolio. Investment options include 33 cryptocurrencies, including Bitcoin as well as gold. Accounts operate through a partnership with Gemini. The full details of this account have yet to be announced, but we’re keeping our eyes on it as a potential crypto rewards card for readers like you.
More Cash Back Cards for Cryptocurrency
Remember, you can buy cryptocurrency with regular old cash. You don’t need a special credit card to make it happen. Consider a cash back rewards card to earn the biggest possible rewards, which you can then use for cryptocurrency purchases or anything else you choose.
Put Your Rewards to the Best Use
Some people still buy things with cash, where they get no rewards, no additional insurance or purchase protection, no recourse if there’s a dispute with the merchant and no option to pay off the purchase later. Credit cards come with all of these benefits and more, and now you can add buying cryptocurrency to the list of perks if you choose the right card.
Whether you want a cryptocurrency rewards card or a cash back card to buy crypto, any of these cards should set you off on the right track.
Eric Rosenberg
Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in depth experience writing about banking, credit cards, investing, business, and other financial topics. When away from the keyboard, Eric enjoys exploring the world and spending time with his wife and little girls. You can connect with him at Personal Profitability or EricRosenberg.com.
