ether.fi Cash is a self-custodial Visa card program (crypto-backed, runs on Visa credit network) with four tiers - Core (free), Luxe (10K points or 15K ETHFI staked), Pinnacle (50K points or 100K ETHFI staked), and VIP (invite-only) - offering 3% cashback across all public tiers, the ability to borrow against staked ETH (eETH, weETH) without selling, 1% FX fee, and availability in the US, UK, and EEA. ether.fi has a 4.9-star App Store rating from 12 reviews.
The Only Card That Lets You Spend Against Staked ETH Without Selling
We tested every self-custodial crypto card in 2026, and ether.fi Cash solves a problem no other card addresses: spending your ETH without triggering a taxable sale. Traditional crypto cards (Crypto.com, Bybit, Coinbase) require you to sell crypto to fund spending. ether.fi lets you borrow against your staked ETH (eETH, weETH) - your collateral continues earning staking yield, EigenLayer restaking yield, and 3% card cashback simultaneously.
This creates a triple yield stack that no competitor can match:
- ETH staking yield (approximately 3-4% APR)
- EigenLayer restaking yield (variable, on top of staking)
- 3% card cashback on every purchase
Our side-by-side comparison reveals that for US residents subject to capital gains tax, the ability to spend without selling is not just a convenience feature - it can be worth thousands of dollars in avoided taxes annually. At a 20% long-term capital gains rate on $50,000 of appreciated ETH, selling triggers $10,000 in taxes. Borrowing against it triggers $0.
The Ecosystem: Four Tiers
1. Core - The Free Entry Point
- Cost: Free, available to all members
- Card: Plastic card + 3 virtual cards
- Cashback: 3%
- Monthly fiat-to-crypto: $10,000
- Best for: DeFi users who want self-custodial spending at zero cost
2. Luxe - The Travel Tier
- Cost: 10,000 monthly Membership Points OR 15,000 ETHFI staked
- Card: Metal purple card + 5 virtual cards
- Cashback: 3%
- Monthly fiat-to-crypto: $50,000
- Perks: Conference lounge access, 65% hotel discounts, priority support
- Best for: Active spenders who travel and want metal + lifestyle perks
3. Pinnacle - The Power-User Tier
- Cost: 50,000 monthly Membership Points OR 100,000 ETHFI staked
- Card: Metal black card + 10 virtual cards
- Cashback: 3%
- Monthly fiat-to-crypto: $200,000
- Perks: All Luxe perks plus purchase protection ($10K), extended warranty ($10K), baggage insurance
- Best for: Crypto businesses and high-net-worth individuals
4. VIP - Invite Only
- Cost: Invitation required
- Card: Gold metal card + unlimited virtual cards
- Cashback: Enhanced (above 3%)
- Perks: Ventures deal access, crypto concierge, all lower-tier perks
- Best for: Ecosystem insiders and institutional participants
Card issuance supports both virtual and physical options. Core members get 3 virtual cards and 1 physical card. The app shows remaining card slots and lets you toggle between virtual (instant, for online use) and physical (shipped, for tap-to-pay and ATM). Physical card ordering currently redirects to the ether.fi web app.
Card Ordering - Choose between virtual (instant, for online) and physical (shipped, for tap-to-pay and ATM). Core members get 3 virtual cards and 1 physical card.
Tier Qualification: Points or Staking
While reviewing the tier structure, the dual qualification path stands out. Tier requirements reset monthly. You qualify through spending volume or ETHFI staking:
- All users earn 3,000 Membership Points per $1,000 spent
- Core to Luxe: approximately $3,334/month spending or 15,000 ETHFI staked
- Luxe to Pinnacle: approximately $16,667/month spending or 100,000 ETHFI staked
Technology: How Spend-Against-Staked-ETH Works
The core innovation is borrowing against liquid restaked ETH. Your eETH or weETH continues earning yield while serving as collateral for card spending.
The flow:
- Deposit ETH into ether.fi's liquid restaking protocol (receive eETH or weETH)
- Your eETH earns ETH staking yield + EigenLayer restaking yield simultaneously
- When you swipe the card, ether.fi creates a loan against your eETH collateral
- USD is credited to Visa for the merchant settlement
- Your eETH balance remains intact, continuing to earn yield
- Repay the loan at your convenience, or it auto-settles periodically
You can also spend USDC directly without the borrowing mechanism - simply deposit USDC and spend it like any other card.
The app supports four funding methods: PIX for Brazilian Real deposits, direct crypto wallet transfers from Ethereum, Scroll, or Base networks, sharing your account address for incoming transfers, and traditional bank transfers. This multi-rail approach means users in different regions can get collateral or stablecoins into the card without rebuilding their whole setup around a single fiat rail.
Funding Methods - PIX (Brazilian Real), direct crypto wallet transfers (Ethereum, Scroll, Base), account address sharing, and bank transfers. Multiple on-ramps for different regions.
Self-custodial architecture: Your funds remain in your on-chain wallet. ether.fi does not hold custody of your crypto. The card operations run through Visa's issuer partner network, but the underlying collateral stays in smart contracts you control.
Fee Structure Across All Tiers
| Fee | Core | Luxe | Pinnacle | VIP |
|---|---|---|---|---|
| Annual fee | $0 | $0 | $0 | $0 |
| Cashback | 3% | 3% | 3% | Enhanced |
| FX fee | 1% | 1% | 1% | 0% |
| ATM fee | 2% | 2% | 2% | Undisclosed |
| Fiat-to-crypto | 0.2% | 0.2% | 0.2% | Undisclosed |
| Monthly fiat limit | $10K | $50K | $200K | Higher |
| Virtual cards | 3 | 5 | 10 | Unlimited |
The 1% FX Fee: ether.fi's Primary Weakness
The 1% FX fee on non-domestic transactions is the main competitive gap. For comparison:
- Crypto.com Jade+: 0% FX
- Wirex: 0% FX
- MetaMask Metal: 0% FX ($199/year); Virtual: 1%
- Ready Metal: 0% FX
- ether.fi: 1% FX
For domestic-only spenders, the FX fee is irrelevant and the 3% cashback is best-in-class among free self-custodial cards. For international spenders, the net return drops to 2% (3% cashback minus 1% FX) - still strong, but below MetaMask Metal's 3% net on international.
Annual Returns at Different Spending Levels
| Monthly Spend | Cashback (3%) | FX Cost (1%) | Net Return (Domestic) | Net Return (100% International) |
|---|---|---|---|---|
| $1,000 | +$360/yr | $0 / -$120 | +$360/yr | +$240/yr |
| $3,000 | +$1,080/yr | $0 / -$360 | +$1,080/yr | +$720/yr |
| $5,000 | +$1,800/yr | $0 / -$600 | +$1,800/yr | +$1,200/yr |
| $10,000 | +$3,600/yr | $0 / -$1,200 | +$3,600/yr | +$2,400/yr |
Visa Credit Card Protections
All tiers include standard Visa credit card protections:
- Price protection: Up to $2,000 (refund if price drops after purchase)
- Purchase protection: Up to $10,000 (damage/theft coverage)
- Extended warranty: Up to $10,000 (extends manufacturer warranty)
- Auto rental insurance: Collision damage waiver
- Baggage delay/loss coverage: Travel disruption protection
These are Visa-administered benefits, not ether.fi benefits. They persist as long as the card is active.
Trust, Security, and Regulation
- Self-custodial: You hold the keys to your crypto. ether.fi does not take custody
- Visa partnership: Card operations through Visa's issuer partner network
- ether.fi protocol: One of the largest liquid restaking protocols on Ethereum with billions in TVL
- KYC required: Full identity verification for all tiers
- Availability: US, UK, and EEA confirmed, expanding globally
- Affiliate: ether.fi referral link
Our review of the security model confirms that the self-custodial architecture means that even if ether.fi (the company) fails, your staked ETH remains in smart contracts on Ethereum. You can interact with the contracts independently. The card itself would be deactivated, but your collateral is recoverable.
ether.fi vs Competitors
| Feature | ether.fi Core | KAST Pengu | Crypto.com Jade | MetaMask Virtual | Ready Metal |
|---|---|---|---|---|---|
| Annual fee | $0 | $0 | $0 ($4K CRO) | $0 | 120 USDC |
| Cashback | 3% | 6% | 2% | 1% | 3% |
| FX fee | 1% | TBD | 0% | 1% | 0% |
| Custody | Self-custodial | Custodial | Custodial | Self-custodial | Self-custodial |
| Staking yield | Yes (ETH + EL) | No | No | No | No |
| Tax advantage | Borrow, no sell | No | No | No | No |
| Network | Visa | Visa | Visa | Mastercard | Mastercard |
| Regions | US/UK/EEA | 170+ countries | Global | 48 countries | EEA/UK |
After comparing every major card, a few key differences emerge. ether.fi vs KAST Pengu: KAST offers 6% free cashback (2x ether.fi's 3%) but is custodial. ether.fi wins on self-custody, staking yield, and tax efficiency. KAST wins on raw cashback and fast KYC (2 min).
ether.fi vs Crypto.com Jade: Crypto.com requires $4,000 CRO locked for 2% cashback and 0% FX. ether.fi offers 3% cashback for free with self-custody but charges 1% FX. For domestic spending, ether.fi wins. For international spending with FX, they are comparable.
ether.fi vs MetaMask: Both are self-custodial with $0 annual fees at the entry tier. MetaMask Virtual has the same 1% cross-border fee as ether.fi, making them equivalent on FX for international spending. MetaMask Metal ($199/year) has 0% FX and 3% cashback (capped at $10K annual spend). ether.fi offers 3% cashback uncapped. For domestic spenders, ether.fi wins on uncapped rewards. For international spenders, both free tiers lose 1% on FX.
Roadmap: What Is Coming Next
The ether.fi team has confirmed upcoming features for Club members: global wire transfers with a virtual US bank account and IBAN for sending and receiving bank payments, on-chain portfolio management that merges wallet and Vault tracking with the dApp, and downloadable tax reporting across all ether.fi portfolio assets. These features would make the ether.fi Cash program a more complete financial platform beyond just card spending.
Coming Soon - Global wire transfers with virtual US bank account and IBAN, on-chain portfolio management, and downloadable tax reporting across all ether.fi assets.
The Verdict
Use ether.fi Cash if:
- You hold staked ETH and want to spend without selling (tax efficiency)
- You want the highest free self-custodial cashback (3% on Core)
- You are a domestic spender where the 1% FX fee does not apply
- You want Visa credit card protections (purchase protection, extended warranty)
- You value self-custody and earning yield on your collateral simultaneously
Look elsewhere if:
- You need 0% FX for international spending: MetaMask Metal (0%, $199/year), Ready Metal (0%), Wirex (0%)
- You want the highest possible free cashback: KAST Pengu (6% free, custodial)
- You do not hold ETH and prefer stablecoin spending: KAST or Ready
- You are outside US/UK/EEA: KAST (170+ countries) or RedotPay (50+ countries)
- You want a proven platform with years of card history: Crypto.com (7+ years)
Sources and Verification
All card specs, fees, and tiers verified from:
Frequently Asked Questions
How do I reach the Luxe or Pinnacle tiers?
Luxe requires 10,000 monthly points or a 15,000 ETHFI stake. Pinnacle requires 50,000 monthly points or a 100,000 ETHFI stake. Points reset at the start of each month.
How are Membership Points calculated?
Users earn 3,000 points per $1,000 spent on the card, plus points for staking and holding liquid tokens.
What is The Club and how do I earn ETHFI?
The Club is ether.fi's loyalty program. Card spending earns Membership Points which determine your tier, plus you can stake ETHFI to unlock higher tiers. The ETHFI token is already live and trading.
Is the ether.fi Cash Card a real credit card?
Yes. ether.fi Cash is a self-custodial Visa credit card that lets you borrow against your staked ETH (eETH, weETH) without selling. Unlike most crypto cards which require you to sell crypto to spend, ether.fi extends a credit line backed by your collateral, which continues earning staking and restaking yield while you spend.
App Store (12 ratings)
Source: Apple App Store - Updated Feb 2026
