In contrast to traditional credit card rewards offering points, cash and miles, a new generation of credit cards offer rewards in bitcoin, ether and other cryptocurrencies.

Because you can use these credit cards to earn crypto rewards -- without incurring the trading costs that are typical when buying on an exchange -- they could be an optimal, low-stakes on-ramp to experimenting with cryptocurrency. That being said, bitcoin and its ilk are considerably more volatile than points, miles and US dollars. What's more, regulations and tax laws continue to evolve in this market, and legislators and enforcement agencies are applying particularly high levels of scrutiny with institutions offering crypto products. So, with that, a reminder: caveat emptor.

We chose the best crypto rewards credit cards that are currently on the market or will be soon. This list does not currently contain crypto debit cards or prepaid cards, and will be updated as new cards roll out.

Best overall crypto credit card available now BlockFi Rewards Visa® Signature Card

CARD HIGHLIGHTS Intro Offer Earn 3.5% crypto rewards on all purchases in the first 90 days of card ownership, up to $100 in crypto. APR 14.99% - 24.99% (Variable) Recommended Credit Excellent/Good Credit Reward Rates Earn 1.5% back in crypto on every single purchase. Annual Fee $0 Intro Purchase APR N/A ADDITIONAL DETAILS REWARDS & REDEMPTION DETAILS Our Take We like the BlockFi Rewards Visa® Signature Card for a lot of reasons. First, it offers more than 10 cryptocurrency reward options beyond bitcoin. It's also the only one that allows you to move your crypto into your own wallet -- a key distinction that will make it attractive to crypto enthusiasts. And the rewards you earn of 1.5% back on every purchase automatically earn interest when held in a linked BlockFi Interest account.

That noted, BlockFi interest accounts, which come with a BlockFi Credit Card, are currently being scrutinized by regulatory agencies in several US states. Though individual card holders are unlikely to be swept into an investigation, it does cast a shadow over BlockFi's corporate profile, so consider the risks before signing up.

Check out our full review of the BlockFi Credit Card for more details.

APPLY NOW Best cash-back card convert Venmo Credit Card

CARD HIGHLIGHTS Intro Offer N/A APR 15.24% - 24.24% Variable APR Recommended Credit Excellent, Good Reward Rates Earn up to 3% on your eligible top spend category Earn up to 2% on your second eligible top spend category Earn 1% on all other eligible purchases and on Venmo person-to-person transactions Annual Fee $0 Intro Purchase APR N/A ADDITIONAL DETAILS REWARDS & REDEMPTION DETAILS Our Take The Venmo Credit Card is a cash-back rewards card, but you can choose to redeem rewards in crypto -- bitcoin, ethereum, litecoin or bitcoin cash -- at the end of each month. Unlike some other credit cards, there are no transaction fees for converting rewards to cryptocurrency. Venmo automatically assigns your highest cash-back rate to your highest spending categories. You'll earn 3% back on your highest eligible spend category, 2% on the second highest eligible spend category and 1% on all other eligible purchases, so you don't have to strategize your spending to maximize your rewards. The major drawback is that you cannot transfer your crypto from Venmo's custodial platform to an exchange or your own wallet, which may be a dealbreaker for some.

LEARN MORE Best alternative bitcoin rewards card Upgrade Bitcoin Rewards Card

CARD HIGHLIGHTS Intro Offer N/A APR See Terms Recommended Credit N/A Reward Rates 1.5% back in bitcoin when you make payments Annual Fee $0 Intro Purchase APR N/A REWARDS & REDEMPTION DETAILS Our Take The Upgrade Bitcoin Rewards Visa is a simple crypto credit card. Though it doesn't offer anything above and beyond other cards, it's a satisfactory alternative if the other options aren't right for you. You'll only earn bitcoin, but it does offer the same rewards rate as BlockFi at 1.5% back on all purchases. You can use the Upgrade Bitcoin Rewards Visa anywhere Visa is accepted, but you cannot move your bitcoin from the custodial Upgrade platform to your own wallet, limiting your "ownership" to price exposure. The only thing you can do with your bitcoin rewards is hold them in the custodial account or sell them to redeem as a statement credit at a time of your choosing. While this is limiting, it's still one of the most straightforward crypto rewards cards publicly available right now.

LEARN MORE Best upcoming crypto credit card Gemini Credit Card

CARD HIGHLIGHTS Intro Offer N/A APR 12.99% - 23.99% Variable Recommended Credit N/A Reward Rates 3% back on dining (up to $6,000 in annual spend, then 1%) 2% back on groceries. 1% back on all other purchases. Annual Fee $0 Intro Purchase APR N/A ADDITIONAL DETAILS REWARDS & REDEMPTION DETAILS Our Take There's a lot of hype around the Gemini Credit Card, which is not yet available, though you can sign up on the waitlist for early access. This card lets you earn credit card rewards in bitcoin, ether or more than 50 other cryptocurrencies. You'll earn 3% back on dining (on up to $6,000 in annual spend, then 1%), 2% on groceries and 1% on all other purchases. These rewards rates exceed those of some of our current best crypto credit card picks, and the cryptocurrency rewards selection would be the largest available by far. Rewards are earned the instant you make a purchase, meaning you don't have to wait for the end of the month to get a payout. You'll also be able to move your rewards off of the Gemini platform to your own wallet.

LEARN MORE FAQS Do I have to pay taxes on my crypto rewards? While legislation is still being hammered out, it is important to track your cryptocurrency buy-in prices so you can report any capital gains you may owe taxes on. If and when you sell your cryptocurrency holdings, you may be required to report capital gains and losses to the IRS. Major tax software platforms are building out support for reporting crypto on your taxes, or you can consult with a tax professional to determine your specific needs.

Are crypto credit cards safe? Cryptocurrencies are widely considered high-risk and volatile assets, so the value of your rewards balance may fluctuate significantly over time with no guarantees. Accounts where cryptocurrencies are held are not FDIC-insured like banks, and some have ongoing legal challenges. Legislation is still evolving and has not yet been solidified surrounding cryptocurrencies, so there is inherent risk in the unknown.

Read more: Bitcoin and cryptocurrency regulations in 2022

Are there any crypto debit cards on the market? There are also some crypto debit cards on the market, including the Crypto.com Visa Card, the Binance Visa Card and the upcoming Coinbase Card. All of these cards allow you to spend your crypto at public merchants and earn crypto rewards on your expenditure. Many new products are likely to hit the market in the next few years, as Visa has partnered with over 60 platforms to work toward enabling crypto transactions worldwide.

Read more:

Coinbase unveils new tax support features as IRS increases crypto scrutiny Best rewards credit cards Best travel credit cards *All information about the Venmo Credit Card, Upgrade Bitcoin Rewards Card and Gemini Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

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