With the adoption of Crypto increasing exponentially, more and more financial institutions and crypto exchanges are offering ways to pay using your crypto or fiat while earning crypto rewards.
I use the Crypto.com pre-paid visa and love it. It’s an easy way to automatically invest my cashback rewards into crypto and let it grow, completely hands off.
I’ve also used the Wealthsimple pre-paid visa, I’ll explain why I chose Crypto.com over Wealthsimple in my review of the Crypto.com card below.
Which crypto cards aren’t available in canada?
Unfortunately, there aren’t many options when it comes to choosing a crypto card in Canada and some of the most appealing crypto cards aren’t available.
Popular crypto cards that aren’t available in Canada include:
*Binance exchange is available in Canada, but not Ontario. However, their card is not offered in Canada.
|0.1 – 8%
|Up to 4%
|3.5% 1st 3 months
Will any of these cards ever be available in Canada?
Based on my research, here’s what I’ve learned:
Nexo: Plan to offer their card in Canada but no estimated date has been set.
Voyager: Estimate to offer their card in Canada by Sept-Nov 2022.
Blockfi: Plan to offer their card in Canada but no estimated date has been set.
Binance: Plan to offer their card in Canada but no estimated date has been set.
Coinbase: Couldn’t find much info.
Which Crypto Cards are available in canada?
Based on my research, here’s the crypto cards available in Canada:
|1 – 8% in CRO
|1% in crypto, stock, or cash
|1% in Bitcoin
|1% in Bitcoin
Why Use A Crypto Credit Card?
Most crypto cards offer generous cashback rewards in the form of crypto. This allows you to invest into your future automatically.
Some companies offer other enticing rewards beyond cashback.
Earn higher interest rates
You can earn much higher interest rates by converting your money from fiat into crypto. For example, you could earn anywhere from 1.5% – 10% APY on USDC stable coin instead of a measly 0.05% in your bank savings account.
Avoid the banks
With recent events around the world—i.e. freezing bank accounts and the threat of a collapsing currency—many people, myself included, have lost trust in the current financial system.
Therefore, people like us are holding our assets in the form of crypto and stable coins.
What are the best crypto credit cards in Canada?
Why did i choose the Crypto.com Card over the others?
I think since you have to invest into the CRO coin to reap higher rewards, you must believe in Crypto.com as a company and the future of their native coin—CRO, which I do.
I believe they have a very bright future and will overtake Binance as the top crypto exchange in the future.
Their marketing is phenomenal and project to have 100 million users by the end of 2022.
They are the official sponsor of the FIFA World Cup in November and this will undoubtedly expose them to millions, if not billions, of potential new users.
Their partnership with Shopify to accept payments in crypto is a gamechanger as well.
Want more Info On some of these companies?
If you’ve never heard of some of these companies chances are you’re looking for more info on them.
I wrote a review comparing cryptocurrency exchanges for Ontarians and Canadians that offers much more detail into each of the companies above.
You can check that out HERE.