The Crypto.com Rewards Visa is worth considering if you’re a cryptocurrency enthusiast who wants an easy way to use crypto for purchases. It has some impressive features beyond that but only for upper-tier members with large sums of cash.
For everyone else, there are more rewarding cards on the market geared toward crypto enthusiasts. Here’s a look at two rewards credit cards. Both are traditional credit cards that charge no annual fee, though you’ll have to watch out for interest rates and other fees. But you won’t have to tie up funds in staking to earn the highest rewards and the best perks. One earns crypto on every purchase and one lets you turn your rewards points into cryptocurrency.
Annual fee |
$0 |
$0 |
$0 |
Rewards rate |
0% to 5% back on spending |
1.5% back in crypto on every purchase, then 2% after you spend $30,000 on your card within a year |
Earn 3% cash back rewards for a year when you set up direct deposit with SoFi. After that, earn 2%* unlimited cash back on purchases when redeemed toward investing, saving, or paying down an eligible loan with SoFi. |
Welcome offer |
None |
None |
Earn up to $300 when you apply, get approved, and set up direct deposit and maintain a qualifying direct deposit every month |
Crypto.com Rewards Visa Card vs. BlockFi Rewards Visa® Signature Card
Due to regulatory restrictions, the BlockFi Rewards card isn’t available to residents of New York. But for everyone else, it earns 1.5 percent back unless you’re a big spender. If you spend $30,000 in a year, you graduate to 2 percent for the remainder of the year.
The 1.5 percent rate is similar to many rewards credit cards on the market, though the chance to earn a higher rate when you spend more is an interesting twist you won’t find with most rewards cards. But if you can qualify for a flat-rate credit card like the Wells Fargo Active Cash® Card, you won’t have to spend large sums before you earn 2 percent cash rewards on purchases.
The BlockFi card has a few additional perks. This includes discounts at select merchants and Visa Signature benefits, which gives you access to travel and purchase protections as well as luxury hotel benefits. These features can save users money and provide peace of mind when shopping and traveling and top what you would get in the bottom tiers of the Crypto.com Rewards card. But users who qualify for the lounge access and monthly subscription reimbursements won’t get as much value out of the Block Fi card and would be better staying with the Crypto.com card.
Crypto.com Rewards Visa Card vs. SoFi Credit Card
The SoFi Credit Card offers 3% cash back rewards for a year and a chance to earn a cash bonus of up to $300 when you set up direct deposit with SoFi. After that, earn 2% unlimited cash back on purchases.
If you want to redeem for something beyond crypto, you can redeem your points toward investing, saving, or paying down an eligible loan with SoFi. You can also redeem your rewards for a statement credit, but the redemption value drops from 1 cent per point to 0.5 cent.
The SoFi card is a World Elite Mastercard, so it comes with specific Mastercard benefits you won’t see with the Crypto.com card. This includes a free ShopRunner membership, $5 in Lyft credit for every three rides taken in a month, cell phone protection worth up to $1,000 and a three-month free trial of DashPass.
All this gives the SoFi card far more flexibility than the Crypto.com card. It may even provide better value for anyone stuck in the debit card’s lower tiers. But SoFi’s cryptocurrency trading fees of up to 1.25% could be too much of a downside for traders who prefer using a low-fee crypto exchange.
Which card should you pair the Crypto.com Rewards Visa Card with?
Since the Crypto.com Rewards Visa is a prepaid debit card and not a credit card, you may want to pick up a traditional credit card as well. Doing so can help you qualify for cardholder benefits you typically only get with credit cards, as well as zero fraud protection for unauthorized purchases. Meanwhile, a regular credit card can come in handy if you need access to a line of credit for emergency expenses, or if you need to consolidate and pay down high-interest debt with a balance transfer credit card.
The right type of credit card for you depends on your needs, so make sure to compare travel credit cards, cash back credit cards and 0 percent APR credit cards to find the right fit.
You can also check out other cryptocurrency credit cards, which are growing in popularity right now. Just make sure you have a handle on the type of crypto you’re earning, how it works and what you might be giving up by picking a crypto card over a traditional rewards credit card.