There are a few credit cards that can help you earn rewards in Bitcoin for typical day-to-day purchases while using a credit card to acquire bitcoin may not be the greatest idea. Keep in mind that even if you have a bitcoin rewards card, any advantages will gradually vanish if you pay late fees and interest charges on your balance.
The BlockFi Bitcoin credit card: All purchases earn a percentage back in Bitcoin with this credit card. You may qualify for a higher return rate if you meet a particular spending limit.
SoFi credit card: SoFi was the first business to allow customers to directly convert their rewards points into cryptocurrency via their SoFi Invest app in April 2021.
The Rexxl Platinum Bitcoin rewards credit card is an excellent choice for business owners and rewards cards users who want to earn more in bitcoin or ethereum.
A new feature will be introduced that allows Venmo Credit Card holders to use monthly cash back in their Venmo account to automatically purchase the cryptocurrency of their choice, with no transaction fees, according to a recent business announcement.
Visa is rewarded by Crypto.com: Depending on the card, Crypto.com provides a variety of credit cards with rewards ranging from 1% to 8%.
You may also use your favorite cash-back credit card to make a purchase and get Bitcoin. If you handle the debt responsibly, you’ll avoid many of the fees that come with using credit cards for cryptocurrency purchases.
While it is possible to purchase Bitcoin with a credit card, it is not the most prudent financial option owing to the volatility of the asset and associated costs. These charges not only limit your expected gains, but they may also hurt your credit score if you make a large purchase using cash. “Use cash to buy, dollar cost average, and explore alternative strategies for earning crypto in order to avoid losing money,” advises Richardson.