Crypto cards in Canada
Canadians have a wide variety of crypto cards to choose from, whether that be a fee-free card that lets you earn rewards in 60 different cryptos or a card with unique features such as unlimited airport lounge access, Airbnb, Expedia, Amazon Prime, Spotify and Netflix reimbursement.
There’s a great selection of crypto card options with some offering high ATM withdrawal and purchase limits, as well as the ability to stake cryptos and earn annual percentage yields (APYs). However, some crypto debit cards do come with relatively high fees, low ATM withdrawal or purchase limits, a high amount of working days to receive your card in the mail and high staking requirements.
Best crypto cards in 2024
- No transaction, annual or maintenance fees
- Earn up to 4% in crypto rewards on purchases
- Ability to conveniently withdraw at ATMs using your crypto balance
- Use the card with any merchant that accepts VISA
- Ability to track your spending and manage card on the Coinbase mobile app
- No credit checks to obtain the card
- A relatively high conversion fee
- Low maximum daily purchase limit which puts a cap on crypto rewards
- No tiered categories for spending
- Earn up to 3% rewards in 60 different cryptos
- Custom card colours of black, silver and rose
- Advanced security features like MasterCard ID theft protection and EMV chip technology
- No annual, transaction, issuance, ATM or conversion fees
- Exclusive access to offers with MasterCard merchants
- 1% rewards on purchases
- A waitlist to apply for the card
- Low maximum annual purchase limit of $6,000
- Low 0.9% transaction fee
- No annual, maintenance or issuance fees
- Easily convert crypto into FIAT for spending or at ATMs
- 50 merchants participate in the rewards program
- No credit check to obtain the card
- Track your spending via the modern Binance mobile app
- A low daily ATM withdrawal limit
- 45 days to receive your card
- Crypto rewards are only available in BNB
- No transaction, annual, maintenance, issuance or ATM fees
- Earn up to 5% in crypto rewards on purchases
- Unlimited airport lounge access at over 500 airports
- Reimbursement for Expedia, Airbnb, Spotify, Amazon Prime and Netflix
- High daily purchase limits
- Use the card with any merchant that accepts VISA
- Extremely high CRO staking requirements for most tiers
- A relatively high 2% foreign currency administration fee
- High card reissuance fee of $70
- 14 working days to receive your card
- Earn up to 8% rewards in WXT on every purchase
- Company’s FCA e-money license
- No maximum balance limit
- No annual, transaction or issuance fees
- Four working days to receive your card
- Easily convert crypto or stablecoins into FIAT for spending or at ATMs
- Monthly $1.50 card maintenance fee
- Crypto rewards are only available in WXT
- Relatively low daily ATM withdrawal limit
- High ATM withdrawal and purchase limits
- No annual, maintenance or transaction fees
- Regulated by the De Nederlandsche Bank as a payment service provider
- Track spending via the modern BitPay mobile app
- No credit check to obtain the card
- Easily convert crypto into FIAT for spending or at ATMs
- Relatively high 2% conversion fee
- $2.50 fee for every ATM withdrawal
- $5 inactivity fee
- No ability to earn rewards on purchases
- No tiered categories for spending
Best by category
| Best overall | Gemini card |
| Lowest fees | Gemini card |
| Most flexible | Coinbase card |
| VISA | Wirex card |
| MasterCard | Gemini card |
| Rewards | Crypto.com card |
How do we rate crypto cards?
Most of the crypto cards in Canada meet all the requirements except for the BitPay card which doesn’t offer a rewards program.
Security
When determining the best crypto cards in Canada, we look at which cards offer state-of-the-art security features that ensure cardholder data is kept safe. We also look at how multi-step KYC verification ensures that cardholders are complying with Anti-Money Laundering (AML) guidelines in Canada.
For example, the Gemini credit card comes with advanced security features like MasterCard ID theft protection and EMV chip technology.
Fees
When determining the best crypto credit cards in Canada, we look at which ones charge annual, transaction, maintenance issuance, ATM or conversion fees.
Annual and maintenance fees are charges levied by companies to cover the costs of keeping your card up and running. In our list of the best crypto debit cards in Canada, none charge annual fees but the BitPay card comes with a $1.50 monthly maintenance fee.
An issuance or reissuance fee is a one-off charge to cover the cost of the physical card and its delivery to your home address. In our list of the best crypto debit cards in Canada, none charge an issuance fee except for Coinbase and BitPay, while most charge quite high reissuance fees like Crypto.com which charges $70 if you lose your crypto debit card.
A transaction fee is a charge that cardholders have to pay to a company every time it processes a payment on their behalf. In our list of the best crypto debit cards in Canada, only Binance charges a transaction fee of 0.9% on all purchases made using the card.
A conversion/foreign currency administration fee is a surcharge to convert transactions involving foreign currency into cryptos. In our list of the best crypto debit cards in Canada, only the Coinbase card charges a 2.49% conversion fee when you make purchases with any crypto apart from USDC and the Crypto.com card charges a 2% foreign currency administration fee.
An ATM withdrawal fee is the charge for withdrawing funds from your crypto card in FIAT at ATMs. In our list of the best crypto debit cards in Canada, only the Wirex card charges a 2% fee on ATM withdrawals that exceed $200, while the BitPay card charges a flat $2.50 fee for every ATM withdrawal.
Limits
When determining the best crypto credit cards in Canada, we look at which ones have high ATM withdrawal and purchase limits as this affects spending and the way in which a cardholder uses the crypto debit card on a daily basis.
In our list of the best crypto debit cards in Canada, most have high maximum purchase limits but relatively low ATM withdrawal limits. For example, Binance cardholders can only withdraw up to $400 a day but can spend $12,500 a day.
Merchant network
When determining the best crypto cards in Canada, we look at what ones use the VISA network, which is available in Canada and at 46 million merchants worldwide and what ones use the MasterCard network, which is also available in Canada and at 37 million merchants worldwide.
In our list of the best crypto debit cards in Canada, all use the VISA merchant network except for BitPay and Gemini, which both use the MasterCard network.
Rewards
When determining the best crypto credit cards in Canada, we look at which ones offer crypto rewards on every purchase, airport lounge access, reimbursement for subscription services, referral rewards, annual savings bonuses or exclusive access to merchant offers.
In our list of the best crypto debit cards in Canada, most excel in their rewards programs except for BitPay which doesn’t offer tiered categories for spending or the ability to earn a percentage back on your spending. Gemini has by far the most versatile rewards program with up to 3% rewards on spending in 60 different cryptos and the option to earn a certain percentage back on dining, groceries and at electric vehicle charging stations, as well as exclusive access to offers with MasterCard merchants like DoorDash, HelloFresh, Lyft and ShopRunner.
Wirex also offers excellent crypto card rewards with up to 8% rewards in the company’s own token, WXT every time you make a purchase, a high annual savings bonus if you’re in the Premium or Elite tiers and the ability to earn $15 in WXT for each person who deposits at least $100 into a Wirex account when referring the card to friends or family
What to consider when choosing a crypto card?
When choosing a crypto bank card, we look at whether the issuing company complies with Anti-Money Laundering (AML) guidelines in Canada by mandating that cardholders complete multi-step KYC verification. Some companies that are regulated by national authorities may also offer FDIC-insured accounts which provide additional security for cardholders’ funds. Crypto debit cards in Canada operate under the purview of the Canadian Securities Administrators (CSA) since cryptos are classed as securities in the country.
Frequency of use
In our list of the best crypto cards in Canada, we look at how much money a cardholder can withdraw on a daily, monthly or yearly basis and at what frequency they can do this. We also look at how much money a cardholder can spend on a daily, monthly or yearly basis. For example, in our list of the best crypto cards in Canada, the Coinbase debit card has a daily ATM withdrawal limit of $1,000 and cardholders can cash out their funds up to six times a day, while only spending a maximum of $2,500 per day.
On the other hand, the highest tier for the Crypto.com debit card has a daily ATM withdrawal limit of $2,500 and $15,000 for the month, while the lowest tier has a daily limit of $700 and $7,000 for the month. All card tiers are subject to no yearly ATM withdrawal limits and premium cardholders can spend up to $2,500 a day, loading at a frequency of up to 12 times a day, 140 times a month, with no yearly limits.
Type of transactions
In our list of the best crypto bank cards, Canadian cardholders can make transactions anywhere where MasterCard or VISA is accepted. For instance, cardholders can spend at leading Canadian stores like Sobeys, Loblaws or Tim Hortons.
We look at which cards allow you to conveniently spend your crypto like cash, which all do but some types of transactions, such as those at gas stations may be restricted. For example, users of the Coinbase crypto card in Canada can experience an automatic hold of up to $100. This is because the merchant can decline the transaction if a cardholder’s account doesn’t have at least a $100 balance and thus Coinbase recommends taking the card inside to prepay for gas manually through a cashier.
For Canadian users of the Gemini crypto card, another type of restricted transaction is for purchases with merchants like Uber Eats. Some merchants don’t operate in accordance with Merchant Category Codes (MCCs) so cardholders earn crypto rewards on those transactions.
Partner network
In our list of the best crypto credit cards in Canada, all fall under the VISA or MasterCard partner networks. VISA is available in Canada and at 46 million merchants worldwide and MasterCard is also available in Canada and at 37 million merchants worldwide. There are currently over two million merchants operating in Canada and card networks generated over $15 billion in transactions in 2022, according to the Nilson Report, although there’s no available data outlining how these transactions were distributed between VISA and MasterCard in Canada.
Currencies supported
Cardholders can deposit, withdraw and spend using CAD for all our listed crypto cards.
Are crypto cards legal in Canada?
Cryptos are classed as securities in Canada so they fall under the purview of the Canadian Securities Administrators (CSA). The laws enacted by CSA aren’t federal in nature, but instead exist on a provincial level so crypto cards are legal but regulated differently in each province. However, all crypto cards must be in compliance with the guidelines set in each particular jurisdiction by the respective Canadian securities regulator:
- The Alberta province is regulated by the Alberta Securities Commission
- The British Columbia province is regulated by the British Columbia Securities Commission
- The Saskatchewan province is regulated by the Financial and Consumer Affairs Authority
- The Manitoba province is regulated by the Manitoba Securities Commission
- The New Brunswick province is regulated by the Financial and Consumer Services Commission
- The Northwest Territories is regulated by the Northwest Territories Office of the Superintendent of Securities
- The Nova Scotia province is regulated by the Nova Scotia Securities Commission
- The Nunavut province is regulated by the Nunavut Office of the Superintendent of Securities
- The Ontario province is regulated by the Ontario Securities Commission
- The Prince Edward Island province is regulated by the Prince Edward Island Office of the Superintendent of Securities
- The Quebec province is regulated by the L’Autorité des marchés financiers
- The Yukon province is regulated by the Yukon Office of the Superintendent of Securities
Security
Considering that MasterCard data shows how there’s a card-linked identity theft incident occurring every two seconds globally, we look at which ones provide the utmost level of security for cardholders. Gemini offers the best crypto credit card in terms of the ability to monitor card transactions to avoid instances of identity theft and the company also doesn’t print digit account numbers or CVV codes on physical cards in order to protect cardholder information. In our list of the best crypto cards in Canada, the Gemini card is the only one to offer such security measures thanks to its EMV chip technology.
Conclusion
Our list showcases the most reputable crypto debit cards offered by companies such as Gemini, and Wirex, with an emphasis on how fees, security measures, limits, merchant networks and rewards such as airport lounge access, reimbursement for subscription services, referral rewards, annual savings bonuses or exclusive access to merchant offers can affect cardholders.
Indeed, there’s a prevailing theme with many of the best crypto cards in Canada whereby nearly all, except BitPay, offer a plethora of rewards that encourage cardholders to integrate crypto into their daily purchases in order to save money on transactions. The advantage is that cardholders are able to earn rewards on anything from morning coffee to cinema ticket purchases, all while conveniently tracking spending on top-rated mobile apps.
Many of the best crypto debit cards even allow cardholders to cash out their cryptos since the company converts their crypto balance to Canadian dollars automatically whenever they need to take money out of an ATM. In addition, most of the best crypto bank cards are heralded for their fee-free structures, but BitPay and Coinbase are exceptions to this as these companies charge their cardholders the most amount of fees.
Overall, Gemini offers the best crypto card in Canada since it allows cardholders to earn rewards on spending instantaneously in 60 different cryptos, including Bitcoin and Ethereum. The crypto credit card has many distinguishing factors such as its 75% recycled stainless steel frame, rewards for dining, groceries and at electric vehicle charging stations, as well as the fact that it’s one of the only cards on the market to offer exclusive access to offers with MasterCard merchants like DoorDash, HelloFresh, Lyft and ShopRunner. The crypto card can also be color-customized and there’s advanced security features like MasterCard ID theft protection and EMV chip technology.
FAQs
A crypto card functions in a similar manner to a traditional debit card except that you can earn rewards every time you make a purchase using the card and you can also use your crypto balance to spend at stores or withdraw at ATMs in FIAT.
We look at an array of elements from fees, security measures, limits, merchant networks and rewards such as airport lounge access, reimbursement for subscription services, referral rewards, annual savings bonuses or exclusive access to merchant offers.
You need to go through multi-step KYC verification by signing up for an account at the exchange which offers the respective card. The company asks you for proof of identity, which can be a drivers license, government-issued ID or passport, as well as proof of address, which can be a utility bill, letter from your local municipality, house rental agreement, tax letter, credit card statement or bank account statement. You must provide your social insurance number and clear and visible picture of the front and back side of your documents, as well as a selfie to sign up for an account at most crypto exchanges.
MasterCard data shows how there’s a card-linked identity theft incident occurring every two seconds globally so it’s imperative for crypto cards to offer security for cardholders.
Many users tend to select a crypto card based on its fee structure as this has an impact on daily spending and transactions.
ATM withdrawal and purchase limits affect spending and the way in which a cardholder uses the crypto card on a daily basis.
Merchant networks with a global presence have more POS terminals available for cardholders to spend at which facilitates seamless card transactions.
Crypto cards that offer rewards tend to have higher numbers of global users since such features provide a distinguishing factor and unique selling point (USP) for the card.
The Gemini card is the safest crypto card as it comes with advanced security features like MasterCard ID theft protection and EMV chip technology.
The Gemini card is the best crypto card for low fees as it has no annual, transaction, maintenance issuance, ATM or conversion fees.
The Coinbase card is the most flexible crypto card as it allows cardholders to change their purchase limit but there’s a verification process to undertake in order to be approved for this increase.
The Wirex card is the best VISA crypto card as it allows cardholders to conveniently spend crypto or stablecoins anywhere where VISA is accepted.
The Gemini card is the best MasterCard crypto card as it allows cardholders to conveniently spend crypto anywhere where MasterCard is accepted.
The Gemini card is the best crypto card for rewards as it offers up to 3% rewards on spending in 60 different cryptos, with the option to earn a certain percentage back on dining, groceries and at electric vehicle charging stations.
