What crypto cards really pay
Every card leads with its top cashback rate. What actually lands in your account is usually a lot less, once the fees, the caps and the FX come off. We find out how much less in two ways: we spend on the cards ourselves, and we run every card's terms through the same math.
We test the cards with real money
Before a card goes on this page, we use it for at least a week of normal spending: coffees, groceries, subscriptions, a few things in other currencies. Then we check every purchase against that day's mid-market rate (the real exchange rate, with no markup) and compare what we paid with what the card says it charges. So far, all 4 cards we’ve tested cost more than they advertise.
Tria Card
790 purchases · 1 Nov 2025 to 30 Sep 2026
Read the test →Spending outside US dollars
- Advertised fee
- 1.50%
- What we paid
- 1.93%
0.43% more than advertised, since Tria's 0.5% fee began.
ether.fi Cash
185 purchases · 21 Jun 2026 to 30 Sep 2026
Read the test →Spending outside US dollars
- Advertised fee
- 1.00%
- What we paid
- 1.32%
0.32% more than advertised, on Pinnacle.
Plasma One
13 purchases · 28 Jun 2026 to 4 Oct 2026
Read the test →Spending outside US dollars
- Advertised fee
- 1.50%
- What we paid
- 3.13%
1.63% more than advertised, in October, on Core.
Ethena Pay
4 purchases · 9 Oct 2026 to 11 Oct 2026
Read the test →On AUD purchases
- Advertised fee
- 1.00%
- What we paid
- 1.08%
0.08% more than advertised, in October.
What we paid in each currency
Most of the gap comes down to FX. Even when a card says 0%, Visa or Mastercard usually take about 1%, and their exchange rate is a little worse than the real one. Here's what that came to on each card, currency by currency, next to what the card advertises.
Since Tria's 0.5% fee began, 335 purchases
| Paid in | What we paid over the real rate | Advertised |
|---|---|---|
| AUD188 bought | 1.93% | 1.50% |
| JPY113 bought | 1.99% | 1.50% |
| USD25 bought | 0% | 0% |
| HKD7 bought | 1.54% | 1.50% |
| EUR2 bought | 1.84% | 1.50% |
The line across each bar is the advertised fee for that currency.
On Pinnacle, 73 purchases
| Paid in | What we paid over the real rate | Advertised |
|---|---|---|
| AUD68 bought | 1.32% | 1.00% |
| JPY5 bought | 1.26% | 1.00% |
The line across each bar is the advertised fee for that currency.
In October, on Core, 3 purchases
| Paid in | What we paid over the real rate | Advertised |
|---|---|---|
| AUD3 bought | 3.13% | 1.50% |
The line across each bar is the advertised fee for that currency.
In October, 4 purchases
| Paid in | What we paid over the real rate | Advertised |
|---|---|---|
| AUD4 bought | 1.08% | 1.00% |
The line across each bar is the advertised fee for that currency.
Advertised vs real cashback
We can't test every card with real money (yet), so we also run every card's terms through the same math at $2,000 a month. That's its cashback bands and caps, its plan fees, and the FX for where you live. The ring is the rate the card advertises. The dot is what it really pays back.
United States: 9 cards, none of them cost more than they pay back
Each card on the plan that pays back the most at $2,000 a month, spending in US dollars.
- Advertised rate, up to
- Real cashback rate
- Costs more than it pays back
- TriaMax (Metal)+5.0%of 6.0%
- ether.fi CashCore+3.0%of 4.0%
- LavaCashback+3.0%of 3.0%
- JupiterStandard+2.0%of 2.0%
- KASTStandard+1.5%of 3.0%
- Tangem PayBasic+1.0%of 2.0%
- XPlaceSilver+0.6%of 2.0%
- FoldFold+ ($100/yr)+0.1%of 0.5%
- OobitLevel 5 ($1,500+ spend per 90 days)0.0%of 5.5%
In the US, the average card's real cashback rate is 1.79%, against an advertised 3.1%. Most cards run in US dollars, though, so anywhere else the FX comes off every purchase. In United Kingdom, the average real rate is −0.43%. In other words, the average card there costs you money, and 7 of the 12 cards cost more than they pay back.
Spend changes the answer
Spending more doesn't always mean getting more back. At low spend, a plan fee eats a big chunk of the cashback. At high spend, most cards hit their monthly cap and stop paying, while the FX goes on charging for every dollar.
The average real cashback rate, by monthly spend
Cards open in each region that pay cashback, each on the plan that pays back the most at that spend.
| Monthly spend | $500$500 | $2k$2,000 | $5k$5,000 | $20k$20,000 |
|---|---|---|---|---|
| United States9 cards | +1.68% | +1.79% | +1.59% | +1.16% |
| United Kingdom12 cards | −0.26% | −0.43% | −0.55% | −0.71% |
| Europe14 cards | +0.17% | +0.03% | −0.11% | −0.31% |
| Canada7 cards | −0.55% | −0.36% | −0.30% | −0.48% |
| Australia15 cards | −0.28% | −0.35% | −0.50% | −0.98% |
| Asia-Pacific16 cards | −0.25% | −0.32% | −0.51% | −0.96% |
| Other countries17 cards | −0.21% | −0.27% | −0.45% | −0.88% |
Pays you backCosts you moneyRates are a share of what you spend.
In the US, the average real rate stays between 1.16% and 1.79% at every spend. Want your own number? Try the calculator.
Same country, same spend, opposite results
Two cards open to Australians, both at $2,000 a month in Australian dollars: the one with the highest real cashback rate and the one with the lowest. That's a $104 difference every month. RedotPay Card pays $18.00 in cashback, and its fees and FX take $60.75. So every month, it costs you $42.75 to use.
Australia, $2,000 a month
- Cashback
- $120.00
- Plan fees
- −$20.83
- FX and conversion (1.9%)
- −$38.00
- Net cashback
- $61.17
A real cashback rate of +3.06%
Australia, $2,000 a month
- Cashback
- $18.00
- Plan fees
- −$10.75
- FX and conversion (2.5%)
- −$50.00
- Net cashback
- −$42.75
A real cashback rate of −2.14%
How we test
At least a week of regular spending on each card, then every purchase checked against that day's mid-market rate. Each test looks for four things. Read the full method
FX fees
What the card charges when you pay in a currency other than its own.
Hidden exchange-rate markup
An exchange rate worse than the real one. It never shows up as a fee, but you pay it all the same.
Conversion and small-purchase fees
Charges for turning your crypto into money at checkout, or for small purchases.
Cashback actually paid
What really lands in the account, set against all of the above.
The averages cover the cards open in each region that pay cashback, each on the plan that pays back the most at that spend, worked out with our published method. They update whenever a card changes its terms.
General information only. These figures are calculated from the spend you enter and the card terms we've collected. We haven't considered your objectives, financial situation or needs, and this isn't a recommendation. Consider whether a card suits you and read the provider's terms before applying. Figures are estimates, terms change, and crypto is volatile.