Kolo is a custodial crypto card platform offering a Visa Platinum virtual prepaid card with 5% Bitcoin cashback on every purchase, zero annual fee, zero FX markup on stablecoins, and availability in 170+ countries. Operated by Hardline Holdings Ltd and BURVIX SP. Z O. O. (Poland), with cards issued by Third National via Raincards Ltd.
The Highest Flat-Rate Bitcoin Cashback on Any Crypto Card
Kolo delivers the highest flat-rate BTC cashback of any crypto card in 2026: 5% on every purchase, paid in Bitcoin within 5 days. No tiers, no staking requirements, no token locks. You spend, you earn Bitcoin. According to SpendNode data, the closest competitor at a flat rate is Crypto.com Obsidian at 5% - but that requires a $400,000 CRO stake. Kolo requires nothing.
The catch is in the caps: $5 per transaction and $200 per month. That means the card is optimized for frequent moderate purchases (coffee, groceries, subscriptions) rather than single large transactions. On a $100 purchase you earn $5 in BTC. On a $200 purchase you still earn $5. The sweet spot is transactions of $100 or less, where you hit the maximum 5% rate.
Card activation: $10 - 100% cashback. Kolo charges a 10 USDC activation fee but instantly returns the full amount as spendable card balance. Your card is effectively free.
The Ecosystem
Kolo currently offers one card variant:
- Kolo Card - Virtual Visa Platinum, 5% BTC cashback, $0 annual fee, 0% FX on stablecoins, Apple Pay and Google Pay
Register through the Telegram bot or the Kolo Wallet app (iOS and Android). Onboarding takes under 2 minutes either way: complete 1-minute KYC via Sumsub, deposit crypto, and your virtual card is ready. Add it to Apple Pay or Google Pay and start spending.
Technology: Multi-Chain Wallet With 7 Networks
Kolo is a multi-chain crypto wallet with an integrated Visa card. Deposit from any of 7 blockchain networks:
| Network | Standard |
|---|---|
| Ethereum | ERC-20 |
| BNB Smart Chain | BEP-20 |
| Arbitrum One | Native |
| Base | Native |
| Solana | SPL |
| Stellar | Native |
| Polygon | PoS |
The wallet supports 14+ assets including USDT, USDC, DAI, EURC, EURI, BTC, ETH, SOL, BNB, LTC, DOGE, TRX, ARB, and PEPE. At the point of sale, your chosen crypto converts to fiat instantly via Kolo's "Swap by Kolo" engine, which aggregates rates from centralized exchanges, decentralized exchanges, and liquidity providers.
Stablecoin spending (USDT, USDC, EURC) carries zero markup. Other crypto has an effective spread of approximately 0.3-1% depending on the asset and market conditions.
The Cashback Mechanics: $200/Month in Free Bitcoin
The 5% BTC cashback program works as follows:
- Rate: 5% on every purchase
- Per-transaction cap: $5 (so the optimal spend is $100 or less per transaction)
- Monthly cap: $200
- Settlement: Credited to your Bitcoin balance within 5 days
- Payout asset: Bitcoin (BTC)
- Restrictions: Cash-like transactions excluded (money orders, P2P funding, lottery, gaming)
At the $200 monthly cap, you would need to spend $4,000/month with optimal transaction sizing. In practice, most users will earn between $50-$150/month depending on spending patterns. The BTC you earn is freely usable - hold it as an investment, swap it to stablecoins, or spend it through the card.
The appreciation angle: Unlike fiat cashback, BTC cashback has upside potential. $200/month in BTC cashback at $65,000 BTC accumulates 0.003 BTC per month. Over a year that is 0.037 BTC ($2,400 at issuance). If Bitcoin appreciates, your cashback appreciates with it. This is the core value proposition - turning everyday spending into a Bitcoin accumulation strategy.
Advertised vs Reality: The Fee Truth
Kolo markets "0% mark-ups" prominently. SpendNode's fee audit found the stablecoin claim holds up, but the full picture is more nuanced:
| Spending Method | Advertised | Reality |
|---|---|---|
| USDT/USDC/EURC | 0% markup | Confirmed 0% Kolo markup. Visa/Mastercard network FX rates apply on non-USD purchases |
| BTC, ETH, SOL | "Exchange-level rates" | Approximately 0.3-1% effective spread via Swap by Kolo aggregator |
| Non-USD purchases | "No hidden charges" | Standard Visa processing-date FX rates. No Kolo fee, but network rate is not mid-market |
| Activation | "10 USDC" | True cost: $0 (10 USDC returned as 100% cashback) |
The stablecoin claim holds up. If you load USDC and spend in USD, total fees are genuinely zero. For EUR spending with EURC, same - zero. The spread on volatile crypto is real but competitive with exchange-level rates (better than most card competitors charging 1-2% conversion fees).
For a UK user spending GBP from USDC: Kolo charges 0%, but Visa applies its processing-date FX rate (typically 0.3-0.5% off mid-market). Compared to RedotPay at 1.2% FX or Wirex at 0-1.5%, this is competitive.
SEPA Banking: Send Crypto to Any Bank Account
A feature that sets Kolo apart from most crypto cards: direct SEPA transfers. Select an amount in the app and send cryptocurrency directly to Revolut, Wise, N26, or any SEPA bank account. This turns Kolo into a basic banking alternative - not just a spending card but an off-ramp for crypto-to-bank transfers.
Trust, Security, and Regulation
Corporate structure:
- Hardline Holdings Ltd - Kazakhstan (Astana International Financial Centre), FinTech Lab Participant status (pending AFSA approval, ID: AFSA-G-LA-2024-0011)
- BURVIX SP. Z O. O. - Poland (company number 0001131882), virtual asset service provider, handles crypto-asset exchange services from January 2026
- Third National - Official card issuer for the Visa program
- Raincards Ltd - UK-based card infrastructure partner
Security features:
- Real-time AML screening on all transactions (Fraud Shield)
- KYC via Sumsub (1-minute process, ID + live selfie)
- Two-factor authentication (2FA) for login and withdrawals
- MiCA-ready and Travel Rule aligned compliance
Key risk factor: Kolo operates under a "testing regulatory regime" at the AIFC with FinTech Lab status pending approval. This is not a full banking license. The regulatory position is less mature than fully licensed competitors like Crypto.com (multiple global licenses) or Wirex (FCA e-money license).
What Happens If Kolo Fails?
Fiat/card balance risk: Your card balance is held by the card issuer (Third National), not by Kolo directly. If Kolo's operating entities (Hardline Holdings or BURVIX) cease operations, the card program would likely be wound down by Third National with remaining balances returned to users. However, this is not protected by deposit insurance (FDIC, FSCS) or e-money safeguarding requirements in the same way that EU/UK-regulated e-money institutions protect funds.
Crypto wallet risk: Assets deposited into your Kolo wallet are held in omnibus blockchain addresses controlled by Kolo. Legal title remains with you per the terms of service, but in practice Kolo controls the private keys. If Kolo disappears, recovering assets from omnibus wallets would require legal proceedings. This is standard custodial risk - identical to holding funds on Binance or Coinbase.
Pending cashback risk: Any BTC cashback not yet credited (within the 5-day settlement window) would likely be lost. Maximum exposure: $200 (one month's cap).
Bottom line: The custody risk is comparable to any custodial exchange card. The regulatory position is less mature than some competitors. Do not store more crypto in Kolo than you actively need for spending.
Real User Scenarios
Marta, a remote worker in Lisbon spending $2,000/month:
- Loads USDC from Arbitrum (low gas fees)
- Daily purchases: coffee ($5), lunch ($15), groceries ($80), subscriptions ($50/mo)
- Monthly cashback: approximately $100 in BTC (20+ transactions, most under $100, hitting $5 cap on several)
- Annual BTC accumulation: approximately $1,200 worth of Bitcoin
- Total fees paid: $0 (USDC spending in EUR via EURC = 0% Kolo markup + Visa FX)
- Verdict: "I earn $100/month in Bitcoin just by buying groceries. The card paid for itself before I finished onboarding."
Yuki, a digital nomad cycling through Southeast Asia spending $3,500/month:
- Loads mix of USDT and ETH from multiple chains
- Spends across THB, VND, MYR, IDR (all non-USD)
- Monthly cashback: approximately $175 in BTC (high transaction frequency, many under $100)
- Visa FX on non-USD: approximately 0.3-0.5% off mid-market
- ETH conversion spread: approximately 0.5-1%
- Net cost: approximately $10-15/month in FX and conversion spreads
- Net benefit after cashback: approximately $160/month
- Verdict: "The BTC cashback more than covers the FX spread. I am accumulating sats while traveling."
Daniel, a freelancer in Nairobi using Kolo for occasional online purchases, $400/month:
- Loads USDT from BNB Smart Chain (lowest fees)
- Mostly online: subscriptions, software, domain renewals
- Monthly cashback: approximately $20 in BTC
- Annual BTC: approximately $240
- Verdict: "Better than my local bank card with zero forex fees and free Bitcoin on top."
Who Should Use Kolo / Who Should Avoid
Use Kolo if:
- You want passive Bitcoin accumulation through everyday spending
- You primarily spend stablecoins (USDT, USDC, EURC) and want zero markup
- You need a card that works in 170+ countries without region restrictions (except US)
- You value fast mobile-first onboarding (under 2 minutes to virtual card)
- Your average transaction is under $100 (maximizes the 5% rate)
Avoid Kolo if:
- You are a US resident (not available)
- You need self-custody (Kolo is custodial - consider Bleap or Tria)
- You make large single purchases over $100 regularly (the $5/txn cap dilutes the effective rate)
- You need ATM cash withdrawals (virtual card only)
- You need a fully regulated e-money institution holding your funds (Kolo's regulatory status is pending)
- You spend over $4,000/month and want uncapped cashback (consider Crypto.com tiers)
Verdict
Kolo is the simplest path to earning Bitcoin through everyday spending. The 5% flat rate with zero annual fee is unmatched at this price point - every competitor charging 0% annual fee offers lower cashback (RedotPay: 0%, KAST: varies by tier, Bleap: 2% capped at $120/year). The caps ($5/txn, $200/mo) are the main limitation, but for the target user - moderate daily spenders accumulating BTC - those caps are generous enough.
The regulatory position is the main risk. Kolo operates under a testing regime, not a full license. For small balances and active spending, this is acceptable. For large balances, use a fully regulated alternative.
Fees and ROI Framework
| Monthly Spend | Annual Cashback (5%) | Net Position |
|---|---|---|
| $500/mo | $300 (capped) | +$300 in BTC |
| $1,500/mo | $900 (capped) | +$900 in BTC |
| $4,000/mo | $2,400 (max cap) | +$2,400 in BTC |
Break-even: Immediate. There is no annual fee, so any cashback is pure profit from day one. The only cost is the 10 USDC activation fee, which is instantly refunded.
Competitor Comparison
- vs Crypto.com: Crypto.com offers up to 5% cashback but requires a $400,000 CRO stake for that tier. The free tier (Midnight Blue) offers 0% cashback. Kolo matches the top-tier rate with zero stake requirement, but caps cashback at $200/month. For spenders under $4,000/month who do not want token exposure, Kolo wins.
- vs RedotPay: RedotPay offers zero cashback but higher limits ($1M daily) and broader physical card availability. Choose RedotPay for high-volume transactions; choose Kolo for BTC accumulation on everyday spending.
- vs Bleap: Bleap offers 2% USDC cashback with self-custody via account abstraction. Kolo offers 5% BTC cashback but is custodial. Choose Bleap if self-custody is non-negotiable; choose Kolo for higher cashback rate and BTC exposure.
- vs KAST: KAST offers tiered rewards up to 9% but through a points system, not direct BTC. Kolo's 5% flat rate in actual Bitcoin is simpler and more transparent. KAST has more tiers and perks; Kolo has a cleaner value proposition.
Availability and Compliance Notes
- Regions: GLOBAL (170+ countries). Excluded: United States, Russia, Cuba, Iran, North Korea, Syria, Crimea
- KYC: Required (1-minute via Sumsub - government ID + live selfie)
- Network: Visa Platinum
- Card type: Virtual prepaid (no physical card currently)
- Mobile wallets: Apple Pay and Google Pay (manual card details entry)
- Supported chains: Ethereum, BNB Smart Chain, Arbitrum, Base, Solana, Stellar, Polygon
- SEPA transfers: Yes (send crypto directly to any SEPA bank account)
Sources
Frequently Asked Questions
Is the Kolo Card activation fee really free?
Yes. Kolo charges a 10 USDC activation fee but instantly returns the full amount as spendable card balance. The net cost is zero. You need at least 10 USDC in your Kolo wallet to activate.
How does BTC cashback work on Kolo?
Every purchase earns 5% cashback in Bitcoin, capped at $5 per transaction and $200 per month. Cashback is credited to your Bitcoin balance within 5 days. You can hold, spend, or swap the BTC once credited.
Is the Kolo Card available in the United States?
No. Kolo is available in 170+ countries but excludes the United States and sanctioned jurisdictions (Russia, Cuba, Iran, North Korea, Syria, Crimea). US residents should consider Gemini, Coinbase, or Avici as alternatives.
