Crypto Credit Cards in Canada
Want to start earning Bitcoin or cryptocurrency instead of loyalty points? We found 9 Bitcoin and crypto rewards cards that are eligible in Canada. This page tracks all 9 cards across 20 variables and 180 data points. We update this page regularly but this data is subject to change.
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Top Picks for 2022
🚫 Cards NOT in Canada
There are many crypto rewards cards but not every one is available in Canada.
Published on April 20, 2022. Refer to the rest of this page for the most updated info.
How Crypto Credit Cards Work
Right now, every crypto credit card in Canada is a prepaid card that lets you spend CAD and earn crypto as rewards. Prepaid cards work just like a debit card but still give you rewards like a credit card. Since no borrowing is involved, there is no credit check and no minimum requirements to get a card. You also don't have to worry about harming your credit score or paying interest.
What To Look For When Getting A Card
The tables above provide all the information you need to choose the right card. The most important things to consider are what you'll use the card for, the rewards, the payout frequency, and the fees.
- Fees: What are the costs associated with the card, such as annual fees, inactivity fees, ATM withdrawal fees, foreign transaction fees, etc.
- Rewards & Perks: What benefits does the card offer you? For example, a sign up bonus, the total cash back rate, insurance coverage, travel perks, etc. Also consider if there are any limits or exclusions in the fine print.
- Payout Frequency: How fast do your rewards get delivered? Some cards deposit your rewards within 24 hours while others do so every 30 days.
- User Interface: Is the platform easy to use, do you like the mobile app, are spending insights or any useful features available?
How To Apply For A Crypto Credit Card
Most crypto rewards cards are issued by cryptocurrency exchanges, which require KYC (know your customer) to sign up. In simple terms, it means you need to verify your identity to sign up for the platform. Once you're signed up for the exchange, you can usually get the card right away since there is no credit check or minimum income requirements.
Signing up for a Canadian crypto exchange typically takes 5-10 minutes and requires info like this:
- Your full name
- Email address
- Phone number
- Date of birth
- Copy of government-issued ID
- Selfie check
Many platforms will verify you instantly but it can take a few days as well. Once your account is open, you can immediately get your physical or virtual card.
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