The cryptocurrency payment landscape is heating up as major exchanges compete to bridge digital assets with real-world spending. Platforms like Coinbase, Gemini, Crypto.com, Kraken, and others are rolling out upgraded payment solutions—from crypto-backed credit cards to integrated payment apps—with cashback rewards ranging from 2% to 10%.
The Rise of Crypto Payment Solutions
Stablecoins and payments have emerged as key narratives in the current crypto cycle. Centralized exchanges (CEXs) are aggressively expanding into daily consumer payment solutions, creating fierce competition in crypto credit cards, debit cards, and app-based payment ecosystems.
Most crypto payment cards support major markets like the European Economic Area (EEA) and the U.S., with platforms offering attractive cashback programs. Below, we break down the latest offerings from leading exchanges.
Coinbase: Leveraging American Express with Coinbase One Card
On June 13, Coinbase unveiled the Coinbase One Card, exclusively for U.S.-based Coinbase One subscribers. This marks Coinbase’s first crypto credit card, powered by the American Express network and set for release in 2025.
Key Features:
- 2%–4% Bitcoin rewards on purchases
- No transaction fees for Coinbase One members ($29.99/month)
- Basic tier available at $4.99/month with lower rewards
👉 Learn more about Coinbase’s payment innovations
Gemini: Multi-Category Crypto Rewards with Instant Payouts
Gemini’s no-annual-fee Mastercard offers rewards in over 50 cryptocurrencies, with tiered cashback:
- 4% on gas/EV charging (up to $300/month)
- 3% on dining
- 2% on groceries
- 1% on other purchases
Bonus: 200 USD in crypto for spending $3,000 within 90 days (offer valid until June 2025).
Crypto.com: Tiered Rewards with Visa Signature Card
Crypto.com’s Visa Signature Credit Card (U.S. only) provides escalating rewards based on user tiers:
- Obsidian tier: 6.5% (first year), then 5%
- Ruby tier: 2.5% (first year), then 2%
Foreign transaction fees apply (3%).
Kraken: "Krak" App Rivaling Venmo and PayPal
Kraken’s Krak app enables P2P payments across 300+ assets, with:
- 4.1% APY on USDG stablecoins
- Future plans for physical/virtual Krak cards
Bybit: High-Yield Debit Card for EEA Users
Bybit’s Mastercard debit card offers 2%–10% cashback (based on VIP status) and supports BTC, ETH, USDT, and others.
- Promo: 10% cashback for early adopters (2025).
Bitget: Dual-Card Strategy with Wallet Card and Visa Credit
- Wallet Card: 5U activation bonus, 0% forex fees for USD spending.
- Visa Credit Card: VIP-only, 0.9% transaction fee, supports USDT (BTC/ETH coming soon).
👉 Explore Bitget’s payment ecosystem
MEXC: Low-Cost Option for European Users
- 1% top-up fee, 0% intra-EEA transactions.
- Monthly fee: 1 EUR.
Gate: Multi-Benefit Visa Card
- 1% USDT cashback + 7% on travel bookings.
- Supports Google Pay/ATM withdrawals.
KuCoin: Real-Time Crypto-to-Fiat Conversions
- VISA debit card for EEA residents.
- 54 supported cryptos + EUR.
- 2% ATM fees, up to €250/month cashback for VIPs.
FAQs
Q: Which crypto card has the highest cashback?
A: Crypto.com’s Obsidian tier offers up to 6.5% initially, while Bybit’s VIP users can earn 10%.
Q: Are there cards with no annual fees?
A: Gemini, Gate, and Bitget’s Wallet Card charge no annual fees.
Q: Can I use these cards outside the U.S./EEA?
A: Most cards apply foreign transaction fees (1%–3%), except Bitget’s USD-based card.
Conclusion
The payment sector has become the new battleground for crypto exchanges, shifting focus from trading to everyday utility. Partnerships with traditional players (Visa, Mastercard) dominate, but innovations like Kraken’s Krak app signal a push toward self-contained ecosystems.
As these products roll out globally in 2025, the race to dominate crypto payments will intensify. Who will lead? The answer lies in user adoption and seamless integration.