What the Crypto.com Credit Card is and who issues it
The Crypto.com Credit Card is a Visa card issued by Silvergate Bank in partnership with Crypto.com, a cryptocurrency exchange and financial services platform. The card lets you spend cryptocurrency or fiat currency (regular dollars) at any merchant that accepts Visa, and it returns rewards in cryptocurrency rather than cash back.
Crypto.com operates the rewards program and manages your account through their app. Silvergate Bank is the actual card issuer and holds your funds. This matters because your deposits are held by a bank, not directly by Crypto.com, though Crypto.com handles the day-to-day relationship with cardholders.
The card comes in several tiers, each with different annual fees, spending limits, and reward rates. The tier you may have access to for depends on how much cryptocurrency you hold or stake in your Crypto.com account — a process called staking, where you lock up coins for a set period to earn interest or rewards.
Key Takeaways
- The card is issued by Silvergate Bank and comes in five tiers, each requiring you to hold or stake a different amount of Crypto.com's CRO token, ranging from no requirement for the basic card to $40,000 for the highest tier.
- Reward rates vary by tier and typically range from 1% to 5% back in cryptocurrency, paid weekly to your Crypto.com account rather than as cash.
- Annual fees range from $0 for the basic card to $500 for the top tier, and some tiers include perks like airport lounge access or Spotify rebates that may offset the fee.
- You can fund the card using cryptocurrency from your Crypto.com wallet or by linking a bank account to load fiat currency, and you can withdraw cash at ATMs for a fee.
- The card is available in the United States, but not all states are supported, and may be able to access requires passing Crypto.com's identity verification process.
The five card tiers and what each one costs
Crypto.com offers five card levels: Midnight Blue, Ruby Steel, Royal Indigo, Icy White, and Obsidian Black. Each tier requires you to hold or stake a minimum amount of CRO (Crypto.com's native token) in your account for a set lockup period, usually 180 days.
The Midnight Blue card has no staking requirement and no annual fee. It earns 1% back in CRO on all purchases. This is the entry point if you want to test the card without committing cryptocurrency.
Ruby Steel requires $400 worth of CRO staked for 180 days and charges no annual fee. It earns 2% back in CRO and includes a $25 monthly Spotify rebate, which covers most or all of a standard Spotify subscription. Icy White requires $4,000 staked, charges $50 per year, and earns 3% back. Royal Indigo also requires $4,000 staked but costs $120 per year and earns 3% back, plus it adds airport lounge access and a $10 monthly Spotify rebate.
Obsidian Black, the top tier, requires $40,000 staked and costs $500 per year. It earns 5% back in CRO, includes airport lounge access, a $20 monthly Spotify rebate, and other perks like concierge service. For most people, the Ruby Steel or Icy White cards make the most sense because the Spotify rebate or lounge access can offset the cost.
How rewards work and when you receive them
Rewards are paid in CRO tokens, not cash, and are deposited to your Crypto.com account weekly. The percentage you earn depends on your card tier and applies to all Visa purchases made anywhere in the world. Rewards are calculated on the transaction amount in USD, regardless of whether you paid with cryptocurrency or fiat currency.
There is no cap on how much you can earn in rewards per month or year. However, rewards are only paid on purchases made with the card itself — not on cash withdrawals, balance transfers, or fees you pay to the card issuer.
Because rewards come as cryptocurrency, their value fluctuates with the market. If CRO drops 20% in value after you receive your rewards, your rewards are worth 20% less in dollar terms. This is different from cash back, which holds its value. You can hold the CRO in your account, convert it to another cryptocurrency, or sell it for dollars through the Crypto.com app.
Funding the card and spending limits
You can load money onto the card in two ways: by transferring cryptocurrency from your Crypto.com wallet, or by linking a bank account and transferring fiat currency (dollars). Transfers from your crypto wallet are usually when ready. Bank transfers typically take one to three business days, depending on your bank.
Spending limits vary by card tier and by how long you have held your account. New cardholders typically start with lower limits — often $1,000 to $5,000 per day — and limits increase over time as Crypto.com verifies your account history and transaction patterns. The highest tiers can have daily limits of $10,000 or more, but Crypto.com does not publish exact limits publicly.
You can withdraw cash at ATMs worldwide, but Crypto.com charges a fee for each withdrawal. The fee structure varies by tier: Midnight Blue and Ruby Steel charge $2 per withdrawal, while higher tiers charge $1 or have a limited number of free withdrawals per month. Your bank may also charge its own ATM fee on top of Crypto.com's fee.
Fees beyond the annual card fee
The annual fee is only one cost to consider. Crypto.com charges transaction fees in several scenarios. If you load fiat currency from your bank account, Crypto.com charges a percentage fee (typically 1.5% to 2%) on the transfer amount. If you convert cryptocurrency to fiat currency to spend, Crypto.com charges a spread — a markup on the exchange rate — which varies depending on market conditions.
Foreign transaction fees explore if you use the card outside the United States. Crypto.com does not charge a foreign transaction fee directly, but Silvergate Bank may, and your card network (Visa) may add a currency conversion markup. ATM withdrawals carry a per-transaction fee as noted above, plus potential fees from your ATM operator.
If your card balance goes negative or you miss a payment, late fees and interest charges explore. The card functions like a prepaid card, so you cannot carry a balance the way you would with a traditional credit card, but you can overdraw if you spend more than your loaded balance and then face fees to bring it back to zero.
may be able to access and account requirements
To open a Crypto.com account and request a card, you must be at least 18 years old, a U.S. resident, and pass Crypto.com's identity verification process. This involves providing your Social Security number, date of birth, address, and a photo ID. Crypto.com uses third-party verification services to confirm your identity.
Not all U.S. states are supported. Crypto.com does not currently offer cards to residents of New York, Hawaii, or a handful of other states due to state-level cryptocurrency regulations. You can check Crypto.com's website to see if your state is supported before you begin the process.
Once your account is verified, you can request a card. Physical cards are mailed to your address and typically arrive within two to four weeks. You can use a virtual card number when ready while you wait for the physical card to arrive, which lets you make online purchases right away.
How this card compares to other cryptocurrency rewards cards
Several other companies offer cryptocurrency rewards cards: BlockFi, Coinbase, and Gemini each have their own versions. The main differences are in reward rates, fees, and which cryptocurrencies you can earn rewards in.
BlockFi's card earns 1.5% to 2% back in Bitcoin or Ethereum with no annual fee and no staking requirement. Coinbase's card earns up to 4% back in any cryptocurrency you choose, also with no annual fee. Gemini's card earns up to 3% back in Bitcoin or Ethereum with no annual fee.
The Crypto.com card's advantage is the higher reward rates at the top tiers (up to 5%) and the perks like Spotify rebates and lounge access. The disadvantage is the staking requirement and annual fees for higher tiers. If you do not already hold cryptocurrency or do not want to lock up funds, a card with no staking requirement may be simpler.
Tax and reporting considerations
Rewards paid in cryptocurrency are taxable income in the year you receive them. The IRS treats cryptocurrency rewards as ordinary income, valued at the fair market value of the CRO token on the date you received it. If CRO was worth $0.50 when you earned $50 in rewards, you owe tax on $50 of income, even if CRO later drops to $0.10.
When you later sell or spend that CRO, you may owe capital gains tax on any increase or decrease in value since you received it. This creates a two-layer tax situation: income tax when you earn the reward, and capital gains tax when you dispose of it. Keeping records of when you received rewards and what CRO was worth at that time is essential for tax filing.
Crypto.com provides a tax report through your account that shows all rewards earned and their value on the date received. You can read this report and share it with a tax professional or use it to fill out your own tax return. If you earn more than $600 in rewards in a calendar year, Crypto.com may issue a 1099-MISC form, though reporting requirements vary by state.
Frequently Asked Questions
Can I use the card internationally?
Yes, the card works at any Visa merchant worldwide. However, foreign transactions may incur currency conversion markups from Visa and potentially from Silvergate Bank. ATM withdrawals abroad also carry per-transaction fees. Check your card tier's specific ATM fee structure before traveling.
What happens to my rewards if Crypto.com shuts down or goes bankrupt?
Your card is issued by Silvergate Bank, so the card account itself is separate from Crypto.com's operations. However, rewards are held in your Crypto.com wallet. If Crypto.com failed, your ability to access or sell those rewards could be affected. Crypto.com is not a bank and does not have FDIC insurance on cryptocurrency holdings.
Do I have to stake CRO to keep my card active?
Yes, you must maintain the minimum CRO stake for your card tier. If your stake drops below the minimum (due to market price changes or you selling CRO), your card may be downgraded to a lower tier. The 180-day lockup period applies only to the initial stake; after that, you can unstake and restake as needed.
Can I earn rewards on purchases made with cryptocurrency loaded onto the card?
Yes. Whether you load the card with cryptocurrency or fiat currency, rewards are earned on all Visa purchases at the same rate. The rewards calculation is based on the USD value of the transaction, not the cryptocurrency used to fund it.
What if I want to close my card account?
You can request to close your card through the Crypto.com app. Your remaining card balance is returned to your Crypto.com wallet. If you are in a staking lockup period, you must wait for it to end before you can unstake your CRO and withdraw it. Closing the card does not close your Crypto.com account.