In the evolving landscape of cryptocurrencies, the introduction of cryptocurrency credit cards presents a convenient opportunity for users to earn digital assets through their everyday spending. Various cards offer different rewards, which can significantly impact users’ choices based on their spending habits.
As the cryptocurrency market continues to grow, new options for crypto credit cards are emerging in the U.S., expanding the choices available for consumers interested in the digital currency space. CNBC Select has examined several prominent crypto credit cards, each catering to different user needs.
For those seeking to earn cryptocurrency on daily purchases, the Gemini Credit Card® is highlighted for its ability to provide rewards in Bitcoin, Ether, and over 50 other cryptocurrencies. This card features no annual fee and no foreign transaction fees, making it an appealing option for frequent travelers. Cardholders can earn a welcome bonus of $200 in crypto after spending $3,000 within the first 90 days, a compelling incentive for new users. Additionally, the card offers rewards such as 4% back on gas and EV charging (capped at $300 per month), alongside 3% on dining and 2% on groceries.
On the other spectrum, the Coinbase One Card caters to more engaged cryptocurrency users who can leverage substantial investments in Netflix. Users with a significant asset deposit can earn up to 4% back in Bitcoin, though it requires a Coinbase One membership that incurs a fee. This card also boasts benefits through the American Express network, adding extra value for frequent travelers.
For those who prefer flexibility in their rewards categories, the Venmo Credit Card adapts to users’ spending habits, automatically applying the highest rewards rate to the categories where users spend the most. While it doesn’t offer a welcome bonus or intro APR, it allows for earning cryptocurrency like Bitcoin, Ethereum, and Litecoin with no annual fee.
The Coinbase Visa® Prepaid Debit Card offers an accessible option for individuals less familiar with cryptocurrencies. With no annual fee and an uncapped rewards system based on a rotating selection of cryptocurrencies, this card allows users to earn digital assets effortlessly while making day-to-day purchases without needing a subscription.
As interest in cryptocurrencies rises, potential users are considering the implications of using such rewards cards. While these cards can generate additional returns on everyday spending, the volatility of cryptocurrency prices poses a significant risk. Users are advised to contemplate their risk tolerance before investing too heavily in digital assets through credit card rewards.
When contemplating whether to earn rewards in cryptocurrency, users may weigh the convenience of crypto card spending against traditional cash-back cards. Some prefer a more methodical approach, suggesting using cash-back cards to accumulate cash rewards, then purchasing crypto independently to have greater control over their investment strategy.
Ultimately, crypto cards present a convenient avenue for users willing to engage with the digital currency market. They simplify the process of earning digital assets through regular spending and provide various options for different financial strategies and user preferences. As the cryptocurrency industry continues to mature, these offerings may become an integral part of many consumers’ financial portfolios.
