The 5 Best Crypto Credit Cards in Canada (2024)

Are you a crypto enthusiast in Canada looking for ways to make the most out of your digital assets? Are you tired of traditional credit cards with limited rewards and benefits and want to embrace the world of crypto credit cards and earn rewards while you spend? Look no further than the Best Crypto Credit Cards in Canada!

With the rise of cryptocurrencies, many companies have jumped on board to offer credit cards that earn rewards in Bitcoin and other digital currencies. Canada, in particular, has become a hub for these innovative cards.

But with so many options available, it can be overwhelming to choose the right one. In this article, we will explore the five best crypto credit cards in Canada and how they can help you earn rewards while embracing the future of finance.

So get ready to learn about the best options and start reaping the rewards today!

The 5 Best Crypto Credit Cards in Canada

From cashback rewards to low fees, crypto credit cards are packed with benefits that will make your financial life a breeze.

They offer the benefits of both traditional credit cards and the exciting world of cryptocurrency. They offer cashback and other rewards, and you can also earn crypto rewards that can be invested or traded for profit.

Here we dive into the world of “Best crypto credit cards in Canada” and explore the top 5 options available to help you maximise your crypto holdings.

1. Crypto.com Visa Cards

The Crypto.com Visa Card is a prepaid card in Canada that works like a regular card and can be funded with cryptocurrency, debit/credit cards, or bank transfers.

They offer flexible crypto or fiat top-ups, and a reward system centred around crypto. Crypto.com cards have no annual fees, give up to 8% back on spending, and support 55 cryptocurrencies. They’re the real deal.

As one of the world’s leading cryptocurrency exchanges, Crypto.com can give you the options of 5 Crypto Visa cards with their own reward levels. These cards are Obsidian, Ruby Steel, Royal Indigo & Jade Green, Frosted Rose Gold & Icy White, and Midnight Blue.

Metropolitan Commercial Bank issues these cards on the Visa payment network and are available in Canada.

Key Features

Fees: 0.5% currency exchange transaction fee and no annual fee
Rating: 9.0/10
Rewards: 5% Cashback

How To Apply

To apply, you must open a Crypto.com account and purchase CRO tokens. Download the Crypto.com app to apply for the card.

Pros

Full or partial rebates on Spotify, Netflix, Prime, Expedia, and Airbnb
Airport lounge access
1% to 8% cashback paid in CRO
Easily apply and manage your card within the Crypto.com app
Load card via crypto, credit/debit cards, or Interac e-Transfer
No sign-up or monthly fee

Cons

The top-tier card requires a large CRO stake ($500,000)
$250 to $1,300 ATM withdrawal limit per month
Cashback is only paid in CRO (many do not like this cryptocurrency)

2. Shakepay Visa Card

Shakepay Visa Card allows you to spend your Shakepay dollar balance when shopping online or in the store. You earn Bitcoin cashback which is added to your BTC wallet.

It allows you to spend your crypto assets and earn 1% Bitcoin cashback on all purchases. You also earn an additional 1% Bitcoin cashback on your first $5,000 purchases.

Shakepay Visa Card is commission-free and trusted in Canadian crypto circles (the Montreal-based company has racked up over $6 billion in digital currency bought and sold by over 900 thousand Canadians). You don’t get to pay annual fees on the cards; you can use them outside Canada.

Sounds interesting? Here’s a waitlist you can join if you’re in Canada.

Key Features

Fee: No annual fee and a 3% foreign transaction fee
Rating: 8.0/10
Rewards: 1% Bitcoin cashback for every purchase and an additional 1% bonus for your first $5,000 spending

How To Apply

You must be a Canadian resident and have a Shakepay account to apply. Download the Shakepay app to apply.

Pros

You can earn Bitcoin cashback
You can spend wherever Visa is accepted
Available in all Canadian provinces
No annual fees at all.

Cons

Low cashback amount

3. Gemini Credit Cards

This WebBank-issued card, Gemini, offers up to one of the highest cashback in Bitcoin and 30+ other cryptocurrencies of your choice.

They offer up to 3% back on purchases, and users can redeem the rewards in a range of coins. There are no annual or exchange fees; rewards are deposited in real-time and can be used anywhere Mastercard is accepted. Sounds good to me!

This card is available in silver, rose gold, and black colours.

Key Features

Fees: No annual fee
Rating: 9.0/10
Rewards: 3% cash back on dining purchases, 2% cash back on groceries, and 1% on everything else.

How To Apply

You must reside in one of the U.S. states to qualify, and you can only access the card based on invitation. Click here to join the waitlist.

Pros

Up to 3% back on dining.
2% back on groceries.
1% back on all other purchases.
Easy to use and manage

Cons

No welcome bonus
Only two bonus categories
The card FAQ is short on the details (e.g. we don’t know what “up to” 3% cash back on dining really means yet)
Your crypto rewards are deposited in your Gemini account.

4. Binance Card

The Binance Card lets you spend your favourite cryptocurrencies at over 60 million merchants worldwide. Transfer crypto from your spot wallet to your funding wallet, and you’re ready to go. It’s easy and efficient to use. Binance will not charge any administrative or processing fees.

You don’t get to pay annual fees with this card. They have over 60 million merchants worldwide, so they’re trusted and can be used anywhere without administrative charges or processing fees.

It is worth mentioning that Binance Card comes with a one-time cost of USD 15, payable in the form of an initial top-up from the user’s crypto wallet to the Binance Card balance. Once USD 15 worth of Bitcoin is transferred to the card balance, the order is processed.

Key Features

Fees: No annual fee and 0.9% transaction fees
Rating: 8.5/10
Rewards: 8% cash back on eligible purchases

How To Apply

You must reside in an eligible country and have a Binance account to apply. Visit the Binance Visa page to apply.

Pros

You can earn Bitcoin cashback
You can spend wherever Binance is accepted
Available in all Canadian provinces
No annual fees

Cons

There is a necessary one-time cost of USD 15 payable as an initial top-up from the user’s crypto wallet to the Binance Card balance.

5. Nexo Mastercard

The Nexo Mastercard is one of two Crypto Mastercard credit cards on this list. This Mastercard lets you spend while holding your cryptocurrency, with no monthly/annual fees, no FX fees, 2% back on purchases, the option to freeze and unfreeze the card conveniently, and you can borrow up to $2 million in loans.

Nexo is a favourite among cryptocurrency enthusiasts because the platform can be used for buying, staking, and getting crypto loans (swapping is also one of the things you can do with it). Its credit card pays 2% cashback; rewards are paid in NEXO tokens or Bitcoin.

Key Features

Fees: No monthly or annual fee, no FX fee, and no inactivity fee
Rating: 8.5/10
Rewards: 2% cash back in NEXO or 0.5% in Bitcoin.

How To Apply

To apply, you must have a Nexo account. Visit the Nexo Card page and click ” Get Nexus Card” to apply.

Pros

FX fees? None!
No annual fees, as already indicated above
Completely free ATM withdrawals
Apple Pay and Google Pay are compatible
You get access to a credit line

Cons

No rebates on popular services
Processed by Mastercard, not Visa
Only available for early access
Your crypto must be held on Nexo’s platform

How We Chose The Best Crypto Credit Cards in Canada

While picking the best crypto credit cards in Canada, we looked at a few attributes of the numerous crypto credit cards in Canada and came up with the above list. Here’s how we arrived at my picks for Canada’s best crypto credit cards.

Security: When it comes to cryptocurrency, security is very important. Crypto assets are different from traditional payment methods that we are used to. You can’t reverse transactions made with Bitcoins or any other cryptocurrency. So, we ensured that we selected crypto credit cards with high-level security.
Reliability: To be among the best crypto credit card, the card must be reliable. Ensure that the cards can be trusted when buying groceries or paying rent. You don’t want to find yourself in a situation where you can’t access your money. So, we ensured that we selected only crypto credit cards that are 100% reliable.
Fees: Everyone wants to spend as little as possible. So ensure you look at the fee structure, terms and services before you decide which card to apply for. These crypto credit cards have extremely low fees.

What Are Crypto Credit Cards?:

A crypto credit card allows you to load your credit cards with cryptocurrency and spend it when you pay for purchases at a point-of-sale terminal like a traditional bank card.

More and more cryptocurrency enthusiasts are spending their coins when shopping, paying their bills or dining out. The times are truly changing, and it is recommended that one master the waves to avoid being swallowed by them.

Crypto credit cards allow you to use cryptocurrency to make everyday payments and earn rewards in the form of cryptocurrency. They connect your cryptocurrency wallet to your credit card and let you use them to pay for purchases.

When you make a purchase, your cryptocurrency is converted in real-time to fiat currency and transferred to the merchant. You need to convert your crypto into fiat currency or load the credit card with fiat currency before you can use it.

Benefits of Crypto Credit Cards

Making payments: Do you want to rush to the store to get a Twix or some detergent? Your crypto credit card could come in handy. Cards like Shakepay cryptocurrency credit allow crypto users to make payments for everyday activities such as shopping and paying bills.

Transferring money: Crypto credit cards allow users to transfer money anywhere, globally, anytime. Such is the global reach and wide-reaching efficiency of these cards.

Contribution to the increase in the mass adoption of cryptocurrency: The appeal of a cryptocurrency company can increase significantly if it adopts cryptocurrency cards. Individuals and companies. Those always looking for more efficient means of payment will feel inclined towards crypto if crypto cards are readily available.

Downsides of Crypto Credit Cards

There tend to be area restrictions: Crypto credit cards may not be available in all regions due to limited digital infrastructure. For instance, TenX is only available in certain countries but plans to expand. Finding a suitable crypto credit card may require effort, but the rewards and financial control make it worthwhile.

Fees can be relatively expensive: Crypto credit cards offer potential benefits, but fees and conversion rates can be high. As the industry develops, these issues may be resolved. In the meantime, consider the fees of available card companies and decide based on your budget.

The best thing to do is always stay informed about the latest trends and policies around cryptocurrency. Fortunately, we live in a digital, so all the verified information you need to stay abreast is at your fingertips.

Are Canadian Crypto Credit Cards Safe?

Understandably, the emergence of crypto credit cards came with new concerns and apprehension, but the crypto ecosystem is largely considered safe.

Blockchain technology, which underpins cryptocurrencies, is completely transparent, self-regulated, and decentralised, meaning data isn’t easy to manipulate.

Credit card rewards can be earned on crypto purchases just like they can be earned on any other type of purchase. Crypto credit cards have the same protections as traditional credit cards. So, there’s no need to panic.

Final Thoughts on Best Crypto Credit Cards in Canada

The world of crypto credit cards is a fast-growing market with various options. As a crypto enthusiast in Canada, you can maximise your digital assets and earn rewards while spending with the Best Crypto Credit Cards in Canada.

These cards provide great value for those who want to maximise their digital assets and enjoy excellent benefits, including cashback and earning rewards in digital currencies.

Don’t wait any longer; explore these options, apply for your card today, and start earning rewards on your purchases while embracing the future of finance.