CoinsOnCards

    Issued by Baanx in partnership with Ledger; powered by Baanx's e-money platform (Monavate in EU/UK); US cards issued in partnership with Cross River Bank (Member FDIC) — EU/EEA: UAB Monavate (Lithuania) authorized e-money institution; UK: Monavate Ltd (FCA #901097); US: Cross River Bank (Member FDIC)

    Ledger CL CardReview

    Hybrid-custody Visa debit card spending fiat converted from self-custodied crypto via Ledger Live.

    3.0· Updated: US launch announced May 28, 2025 at Bitcoin 2025 conference in Las Vegas
    Visit issuer
    Cashback
    Up to 2.0%
    Custody
    hybrid
    KYC
    full
    Networks
    —
    Monthly fee
    Free
    Available in
    —

    The verdict

    Best for: Ledger users wanting to spend crypto with 1-2% cashback via Ledger Live.

    Skip if: You need low fees; combined 3.75% fees negate cashback rewards.

    • Offers 1-2% cashback, but offset by 3.75% in combined fees.
    • Supports Apple Pay and Google Pay for contactless mobile payments.
    Get the Ledger CL Card

    How it works

    • - **Ledger Ecosystem Integration**: Seamlessly connects with Ledger hardware wallets via Ledger Live for top-ups.
    • - **Crypto-Backed Lending**: Offers 'Cryptodraft' credit lines and 'Stableloans' with rates from 0% APR for qualified users.
    • - **Direct Paycheck Deposits**: Users can deposit paychecks directly to their card account and optionally auto-convert to crypto.
    • - **Virtual and Physical Cards**: A free virtual card is available instantly, with a physical card option.
    • - **Mobile Wallet Support**: Compatible with Apple Pay and Google Pay for contactless payments.
    • - **Multi-Wallet Support**: Integrates with Ledger Live, MetaMask, and 1inch for top-ups.

    Funding: Crypto via Ledger Live app · Crypto via Crypto Life app · Connecting external wallets (Ledger, MetaMask, 1inch) · Bank transfer · Direct paycheck deposit

    Fees

    BankingDirect deposit: true · Virtual accounts: true · Direct paycheck deposit capability via bank transfer with option to automatically convert deposits to cryptocurrency. Multi-currency fiat account support (EUR, GBP, USD). Segregated safeguarded accounts for customer funds.

    Borrowing terms

    Interest: Cryptodraft rates starting from 0% APR for qualified users based on staking tier; Stableloan rates vary depending on staking tier

    Cryptodraft (crypto-backed credit lines allowing users to access fiat without selling their crypto) and Stableloans (stablecoin-based loans)

    Both lending services use cryptocurrency as collateral, providing liquidity without forcing users to exit their positions. Staking tiers directly impact the APR offered on both products.

    Custody & risk

    • If the issuer disappears
      Unspent crypto remains with the user if the provider fails, but topped-up fiat is at risk. Fiat funds are safeguarded but not covered by UK FSCS or EU investor protection schemes. US customer funds have FDIC insurance via Cross River Bank.
    • Security risk
      A 2023 user claim of leaked support emails was investigated, with Baanx's partner confirming no data breach occurred
    • Security risk
      Phishing scams pretending to be CL support have been reported
    • Counterparty risk
      User reports indicate customer service issues and account freezes

    Users maintain self-custody of their crypto assets in their own wallets until they decide to top up the card. Upon top-up, the crypto is converted to fiat and held in a safeguarded account by the card issuer.

    Protections

    • Hardware-based authorization via Ledger's secure BOLOS OS available for enhanced security
    • Sensitive data is encrypted
    • No crypto keys or fiat balances are pooled with general corporate assets
    • Funds in e-money accounts are safeguarded per regulatory requirements

    Insurance & coverage: No third-party insurance for crypto balances. US customers benefit from FDIC insurance through Cross River Bank partnership.

    Limits

    notes
    Initial cap €/$ 1,000 total until extra proof-of-funds is approved. Large transactions ≥€10,000 (single top-up or withdrawal) prompt manual review. Limits can be raised to €20,000+ after supplying additional documentation like bank statements.
    atm daily
    €2,000
    daily spending
    €15,000 per calendar day

    The good

    • 1-2% cashback rates without staking requirements.
    • No monthly fees with a single-tier system.
    • Free virtual card available instantly.
    • Crypto-backed lending with rates from 0% APR.

    The catches

    • High 3.75% combined conversion and spend fees.
    • Limited to 39 countries; no Australia/Japan.

    Limitations

    • majorConversion fees (1.75% crypto-to-fiat + 2% card spend) significantly offset cashback benefits, totaling 3.75% before any additional charges
    • moderateMust pre-fund card before spending (prepaid model)
    • moderateSome pre-authorization transactions may be unsupported; standing orders not supported
    • moderateLimited customer support according to user reports
    • moderateNo third-party insurance for crypto balances (EU/UK)
    • minorCard showing as generic 'prepaid card' in wallets like Curve
    • minorRelatively limited cryptocurrency selection compared to some competitors

    Where rewards don't apply

    • Pre-authorization dependent merchants — Some pre-authorization transactions may be unsupported
    • Standing order merchants — Standing orders are not supported

    What users say

    App Store
    4.9/5.0 (13,167 ratings)
    Google Play
    4.6/5.0 (32,395 ratings)
    Trustpilot
    2.8/5.0 (2,136 ratings)

    Mixed - positive feedback on smooth setup, delivery, cashback rates, and Ledger integration; negative feedback on high fees/spreads, customer support issues, and account freezes

    Rating breakdown

    Net reward
    0.0
    Custody risk
    3.5
    Availability
    2.5
    User experience
    4.6
    Features & convenience
    4.0

    See our methodology for how we score each axis.