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Crypto Cards in Canada (2024)

Last Updated: Apr 2024  |  This page has affiliate links.

This page compares 8 Bitcoin and crypto reward cards available for Canadian residents. We regularly update this page, but please note that the info is subject to change. If you find any errors, you can notify us via our contact page.

A crypto card lets you spend Canadian dollars to earn crypto as cash back instead of loyalty points like traditional credit cards. Currently, every crypto card in Canada is a prepaid card, meaning there is no borrowing involved or need for a credit check. These cards function similar to debit cards, while still offering rewards comparable to a credit card.

Best Overall

Shakepay Visa

Shakepay Visa Card
  • 2% BTC cash back on first $5K
  • 1% afterwards
  • Fast payouts (24-48 hours)
  • Earn even more with ShakeSquad and ShakingSats

Best Promo

Netcoins Pay

Netcoins Pay Visa Card
  • 3% BTC cash back for 90 days
  • 1% afterwards
  • Physical & virtual card
  • Payouts only once a month
  • $25 free when you trade $100

Best Rewards

Crypto.com Royal Indigo / Jade Green

Crypto.com Royal Indigo and Jade Green Card
  • 2% cash back (max $50/mo)
  • Must stake $5k worth of CRO
  • Free Spotify & Netflix ($28/mo value)
  • Fast payouts (~36 hours)

Best for Travel

Wealthsimple Cash Card

Wealthsimple Cash Card Visa
  • 1% cash back for crypto or stocks
  • 0% foreign transaction fees
  • Free domestic & international ATM withdrawals
  • Payouts take 7-9 days

Compare Cards

  • Overview

  • Limits & Fees

Header
Shakepay Visa Card

Shakepay Card

Netcoins Pay Visa Card

Netcoins Card

Wealthsimple Cash Card Visa

Cash Card

Crypto.com Midnight Blue Card

Midnight Blue

Crypto.com Ruby Steel Card

Ruby Steel

Crypto.com Royal Indigo and Jade Green Card

Royal Indigo & Jade Green

crypto.com card frosted rose gold and icy white

Rose Gold & Icy White

Crypto.com Obsidian card

Obsidian

Cash Back

1% (2% with promo)

1% (3% with promo)

1%

0%

1%

2%

3%

5%

Cash Back Form

BTC

BTC

Crypto, Stocks or Cash

CRO

CRO

CRO

CRO

CRO

Annual Fee

Free

Free

Free

Free

Stake $500 CRO for 6 months

Stake $5K CRO for 6 months

Stake $50K CRO for 6 months

Stake $500K CRO for 6 months

Other Benefits

ShakeSquad: Get 42 Sats whenever a friend uses their card

N/A

No foreign transaction fees, no ATM fees

N/A

Free Spotify

Free Spotify, Netflix, Airport lounge access

Everything in tier 3 & 10% Expedia rebate, bonus rewards

Everything in tier 4 & 10% Airbnb rebate, private jet membership, & more

Payouts

~24 hours

Once a month

7-9 days

~36 hours

~36 hours

~36 hours

~36 hours

~36 hours

Card Type

Prepaid Visa

Prepaid Visa

Prepaid Visa

Prepaid Visa

Prepaid Visa

Prepaid Visa

Prepaid Visa

Prepaid Visa

Interac E-Transfers

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

CAD Deposit Fee

Free

Free

Free

Free

Free

Free

Free

Free

Other Notes

No physical card yet. Only Apple Pay or Google Pay

N/A

Cash balances are CDIC insured

N/A

Max $25/mo in CRO rewards

Max $50/mo in CRO rewards

N/A

N/A

Cardholder Agreement

Sign Up Promotion

2% cash back on first $5K

3% cash back for first 90 days

$10 Free

N/A

$25 free for staking

$25 free for staking

$25 free for staking

$25 free for staking

Sign Up

  • Dozens of cards exist internationally, such as the Coinbase Card and Binance Card. However, they are not yet available in Canada.
  • Currently, there are no cards available in Canada that allow you to directly spend cryptocurrency. 

More Info

Video recorded in April 2022. Refer to the chart for the most current information.

Tips For Choosing The Best Card

  • 1. Fees: Check the costs associated with the card, including annual fees, inactivity fees, ATM withdrawal fees, foreign transaction fees, and any hidden fees.
  • 2. Rewards: Check the incentives including sign up bonuses, total cash back rate, insurance coverage, and travel perks. You should also check if there are any spending limitations or exclusions in the fine print.
  • 3. Payout Frequency: Some cards deposit your rewards within 24 hours while others do so every 30 days. 
  • 4. User Interface: Check if the platform is easy to use, has a good mobile experience, and other useful features.

Application Process

Most crypto cards are issued by cryptocurrency exchanges, which require identity verification to sign up. Since these are prepaid cards, there is no credit check or minimum income requirements. Signing up for a crypto exchange typically takes 5-10 minutes and requires info like:

  • Your full name
  • Email address
  • Phone number
  • Date of birth
  • Address
  • Copy of government-issued ID
  • Selfie check

Many platforms will verify your account instantly, but the process can also take a few days. Once your account is open, you can immediately obtain your physical or virtual card.

FAQ

Do Crypto Cards Impact My Credit Score?

Crypto credit cards in Canada are prepaid cards, so they do not impact your credit score. As you are not given a credit limit, there is no credit check when applying and there is no risk of going into debt with a prepaid card.

What's The Difference Between A Credit Card And A Prepaid Card?

With a credit card, you are borrowing money and need to pay it back. With a prepaid card, you are spending your own money that you have deposited beforehand. Prepaid cards don't have interest rates, don't allow you to go into debt, and don't impact your credit score because you are not borrowing funds.

What's The Difference Between A Debit Card And A Prepaid Card?

Both are very similar. Most debit cards are linked to your bank account, do not offer rewards, and sometimes allow you to go into overdraft protection. With prepaid cards, money is loaded into your account, usually from a bank account, and there are no credit limits or overdrafts when you hit $0.

Where Can I Use A Crypto Credit Card?

You can spend your crypto credit card anywhere Visa or Mastercard is accepted.

Are Crypto Credit Cards Safe?

Yes. Since the cards are partnered with Visa or Mastercard, they have similar security features as regular credit cards. It often includes zero-liability insurance against fraud or theft, transaction monitoring, and more.

However, digital assets must be treated with additional care. For example, use 2 factor authentication, store your crypto in cold storage, and hide your seed phrase.

Is The Coinbase Visa Card Available In Canada?

No, the Coinbase Visa Card is not available in Canada and there is no official date as to when it will be. The card is available in more than 20 countries, including the USA, UK, France, Sweden, Germany, Spain, Iceland, and others.

Is A Crypto Card Worth It?

Crypto cards are worth it if you want to earn free Bitcoin or cryptocurrency cash back instead of fiat or traditional rewards points. However, there are more traditional credit cards to choose from where you might stand to get higher rewards.

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