The Best Crypto Credit Cards In Australia (Sep 2022)

July 17, 2022
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As a long-time crypto aficionado, I constantly keep up with the latest and greatest crypto credit cards coming out every day, always looking for the lowest fees and best features. I’m confident these recommendations are currently the best crypto cards available in Australia.

Overall, our top pick for a crypto debit card is the BlockFi Rewards Visa®. BlockFi was one of the first companies to provide a Visa credit card that gives cryptoback in Bitcoin on all purchases. The BlockFi card earns you up to 3.5% promotional cryptoback.

Before getting started with a crypto credit card, it's important that you're working with a reputable, trustworthy exchange. Here are my top three picks for the best crypto exchanges in Australia:

Best Overall

Trading fees: 0%
Supports: 100+ coins
Customer support: Excellent

Trusted by millions.

★★★★★

Rated 4.9/5

#1 Social Trading

Trading fees: 1%
Supports: 50+ coins
Customer support: Excellent

Best for social/copy trading.

★★★★★

Rated 4.9/5

Best For Altcoins

Trading fees: 0.1% – 0.5%
Supports: 250+ coins
Customer support: Good

Instant account verification.

★★★★

Rated 4.2/5

Now let's get into the credit cards themselves.

What Are The Best Crypto Credit Cards In Australia?

1. BlockFi Rewards Visa®

BlockFi was one of the first companies to provide a Visa credit card that gives cashback in Bitcoin on all purchases. The BlockFi card earns you rewards in the form of Bitcoin, which will be added to your BlockFi Interest Account and begin earning interest immediately.

The BlockFi card has a similar credit limit to other Visa cards and can be used to make purchases wherever Visa is accepted. The card also gives 1.5% cashback on every purchase, which is converted to Bitcoin and deposited in the cardholder’s BlockFi account. The first three months of card ownership earn a 3.5% bonus on cashback, up to a maximum of $100.

Features

  • 1.5% cashback
  • 3.5% cashback in the first three months

Cost

  • Annual fee: No annual fee
  • Foreign transaction fee: No foreign transaction fee

Best For

Cryptocurrency holders looking to earn cashback in Bitcoin purchases.

2. Upgrade Bitcoin Rewards Visa® Credit Card

Upgrade Bitcoin Rewards Visa® Credit Card is a credit card that doubles as a personal loan card, all in one. With the Upgrade card you can make purchases and earn up to 1.5%  cryptoback whenever you make a purchase. Balances are paid in monthly installment, for a set period.

The Upgrade Bitcoin Rewards card uses Bitcoin, which is sold at the point-of-purchase for fiat currencies, which is then transferred to the merchant. Credit lines for the Upgrade card can go as high as $25,000, and there are many features available to all users: VantageScore, an excellent way to keep track of your credit card scores, CreditScoreSimulator, which can be used to determine what would happen in certain scenarios, without risking your credit. There are no foreign, late, or prepayment penalty fees.

Features

  • 1.5% cryptoback on all purchases
  • Credit lines from $500 to $25,000
  • VantageScore®
  • Credit Score Simulator
  • Mobile app available on iOS and Android

Cost

  • Monthly Fees: Free
  • Foreign Transaction Fees: Free
  • Late Fees: Free
  • Prepayment Penalty Fees: Free

Best For

Investors looking for a card that supports a wide range of crypto and with a lot of perks.

What To Look For In The Best Crypto Credit Cards In Australia

When comparing crypto credit cards, there are a few characteristics to consider. These include:

Fees: There are costs associated with some crypto credit cards, but not all of them. These might include monthly maintenance, foreign transaction, and ATM withdrawal fees. Look for a card that charges as few of these fees as possible.

Rewards: crypto credit cards sometimes provide perks such as cryptocurrency cashback. These incentives may significantly increase your earning potential, so seek cards with generous cashback if you want to make the most of them.

Supported currencies: Not all crypto credit cards support more than one or two crypto tokens. Make sure to pick a card that supports your preferred cryptocurrency type.

Availability: Some crypto credit cards are only available in specific regions, such as the European Union or the United States. Look for a credit card that works in your area.

Other perks: Perks are a welcome addition to crypto credit cards. These can range from basic benefits like free Spotify memberships to more advanced ones such as complimentary ATM fees.

Best Crypto Credit Cards Australia FAQs

Is It Legal To Buy And Trade Crypto In Australia?

Yes, cryptocurrency is legal in Australia, and you can buy, sell and use crypto without breaking the law. However, cryptocurrency is not currently considered legal tender in Australia, and the Australian government shows no indication of accepting it as such any time soon.

Is Crypto Trading Taxable In Australia?

Yes. Even though the Australian Tax Office (ATO) doesn’t consider crypto as money, it is regarded as property, a CGT asset for all tax purposes. When a capital gain or loss is realized from cryptocurrency, the market value of the asset, in AUD, is used to calculate the tax. 

Are Crypto Exchanges Regulated In Australia?

Yes, cryptocurrency, digital currencies, and cryptocurrency exchanges are legal and federally regulated in Australia. The sale of crypto assets is regulated by Australia's Financial Services Regulatory Regime.

What Is The Best Bitcoin Trading Platform In Australia?

The best exchange to buy Bitcoin in Australia is Capital, which offers bank-level protection and incredibly low fees. Capital supports 100+ cryptocurrencies, processes deposits and withdrawals instantly, and validates accounts in real-time, too.

Capital is the best cryptocurrency exchange in Australia for buying Bitcoin and other cryptocurrencies.

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