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.
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:
The SoFi card pays you an unlimited 2% cash back on redemptions to linked savings, investment or loan accounts. SoFi Invest includes an option to buy cryptocurrency, which gives you an option for 2% cash back redeemable in cryptocurrency.
SoFi supports around 20 currencies, including Bitcoin, Ethereum, Cardano, Litecoin, Stellar Lumens, Maker, Compound, Algorand and others. The only big downside is that you can’t transfer crypto bought through SoFi to an external crypto wallet.
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.
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.
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.
5 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.
- Chase Freedom Unlimited®: Earn 5% cash back on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and an unlimited 1.5% cash back on all other purchases with no annual fee. It includes a $200 cash back bonus after spending $500 in the first three months.
- Chase Freedom Flex℠: Earn 5% back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1% everywhere else with no annual fee. Combine with the Freedom Unlimited for even better rewards. It also includes a $200 cash bonus after spending $500 in the first three months.
- Citi® Double Cash Card: Earn 1% when you spend and 1% when you pay your bill with no limits on what you can earn and no annual fee.
- Capital One® Quicksilver® Card: This no-annual-fee credit card includes 1.5% cash back on all purchases with no limits and a $200 bonus after spending $500 in the first three months.
- Costco Anywhere Visa®: Exclusive for Costco members, this card includes up to 4% cash back on bonus categories. Earn 4% back on gas for the first year (up to $7,000 in purchases), 3% back on travel and restaurant purchases, 2% back at Costco and Costco.com and 1% everywhere else with no annual fee.
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.