What is the Ether.fi credit card?
The Ether.fi credit card is a daily spending financial card launched by the on-chain protocol Ether.fi, allowing users to directly spend cryptocurrency. It essentially combines the concepts of a cryptocurrency wallet and a financial card, serving not only as an asset that deducts during spending but also earning interest and cashback rewards at the same time.
Is Ether.fi a credit card or a debit card?
Since Ether.fi requires sufficient assets within the card for spending and has no prepayment feature, it is classified as a cryptocurrency debit card rather than a credit card.
What types and levels of cards does Ether.fi have?
The Ether.fi card has four levels: Core, Luxe, Pinnacle, and VIP. The main differences between card levels lie in spending rewards and the materials used for physical cards. Cards at the Luxe level and above are made of metal, giving them a better texture.
Ether.fi Related Ecosystem: eETH, Restaking, Reward Source Analysis
During 2025, Ether.fi offers a 3% spending reward for cards of all levels, making it one of the better rewards crypto debit cards on the market, relying on the success of Ether.fi's DeFi core business.
Introduction to the Ether.fi Protocol
Ether.fi is a Liquid Restaking Protocol (LRP) that allows users to earn eETH/weETH by depositing ETH and apply it in other DeFi scenarios. The differences between the two tokens are as follows.
Token Nature Usage eETH automatic appreciation, value increase suitable for long-term holding, purely stored weETH fixed ratio, not automatically appreciating suitable for DeFi lending, forming LP
Where do the spending rewards come from?
The rewards provided by Ether.fi mainly come from the protocol's DeFi income rewards to card users. In addition, partners like Scroll Chain will also allocate some reward benefits and return them to users who use Ether.fi cards in the form of $SCR tokens.
Are rewards sustainable?
As for the current situation of cards at various levels, the Core card will adjust to the originally set 2% spending reward in 2026, while higher-level cards will maintain a 3% spending reward. Whether the rewards can be sustained in the future will depend on what kind of rewards Ether.fi will provide to cardholders.
Ether.fi Credit Card Application Guide
Ether.fi requires users to fill out personal KYC information before applying to comply with regulations. The information needed includes: country, city of residence, address, personal data, etc. All information should be filled in English. If the address needs translation, you can refer to the postal information website for Chinese address translation.
After filling out the information and passing the review, you can apply for an Ether.fi Core card for free, then bind it to mobile payments like Apple Pay or Line Pay and deposit funds to start card transactions.
Ether.fi card deposit methods
The deposit button, Add Funds, can be found on the homepage of the Ether.fi App. Currently, Ether.fi supports deposits in the following currencies: USDC, USDT, ETH, various ETH LSTs, and SCR, and supports blockchains such as Ethereum, Base, and Scroll, allowing users to choose their deposit method and currency according to their needs.
Ether.fi card withdrawal strategies
The withdrawal function can also be found on the homepage of the Ether.fi App. The withdrawal steps are as follows:
Click to send funds.
Select withdrawal currency.
Enter withdrawal amount.
After receiving the verification code, the withdrawal will be successful.
Currently, the Ether.fi App only supports withdrawals on the Scroll blockchain. If you want to use other blockchains for withdrawals, you need to select them on the Ether.fi official website.
Ether.fi Usage Guide & Taiwan Card Swipe Practical Test
Once the card is issued and funds are deposited into Ether.fi, you can start using the card for spending. Whether using Borrow Mode or Direct Pay mode, you can directly bind mobile payments for payment. If multiple payment options are bound in mobile payments, remember to prioritize adjusting the payment method to Ether.fi Visa.
Ether.fi Taiwan Card Swipe Practical Test
In a practical test using the Ether.fi card, spending 148 TWD resulted in a deduction of about 4.79 USD, with an exchange rate of approximately 30.9, while at the time of writing, the exchange rate of USDT to TWD was around 31.4, resulting in an exchange difference of about 1.6%.
Considering the rewards, the total spending for that transaction was 4.65 USD, with an exchange rate of approximately 31.83. Thus, there was not only no exchange difference but also a tangible spending reward.
Ether.fi card fee summary
The Ether.fi card has a mechanism of no card issuance fee and no annual fee, allowing users to prioritize applying for cards. When needed in the future, they can deposit funds and spend immediately, which is very convenient. The related fees after issuing the card are shown in the table below.
Fee category cost description charging standards when foreign currency transaction fees occur using the Ether.fi card for spending in non-USD regions 1% deducted per transaction ATM withdrawal processing fee using physical cards 2% charged per withdrawal spending rewards Ether.fi and Scroll provide subsidies to card users +3% instant rewards at the time of transaction
Currently, the costs associated with using the card can be completely offset by spending rewards, and users can even receive a 1-2% actual reward.
Ether.fi App Introduction
In the Ether.fi App, users can not only deposit and withdraw funds through the Add Funds and Send functions on the homepage but also view the transaction history of each card. If users have Apple Pay or Line Pay binding needs, they can find the necessary information for binding cards in the Card Details of the Cards function.
Payment Modes: Borrow Mode / Direct Pay
In addition, another significant feature in the Ether.fi App is switching payment modes. The two payment modes correspond to different payment requirements, allowing users to switch according to their needs.
In Borrow Mode, users can use various assets such as ETH/weETH/eBTC as collateral and borrow stablecoins USDC for daily consumption at an annual interest rate of 4% based on the official LTV set. This way, users can swipe the card without selling spot assets and continue to earn Restaking interest.
In the Direct Pay spending model, users can directly deposit stablecoins for payments without going through any borrowing procedures or paying borrowing interest, making it convenient for users who prefer not to allocate spot funds in Ether.fi for everyday small purchases.
Cryptocurrency Credit Card Comparison
Currently, many protocols and exchanges have launched their own crypto asset debit cards for users. Therefore, this section selects Redotpay and Pionex Card for comparison. The rewards of each card may change due to official adjustments, so it is recommended that readers confirm in advance before applying for a card.
Regarding fees, since each card primarily uses USD as the main currency, card transactions in Taiwan are still mainly in TWD. Therefore, a foreign currency transaction fee of around 1% will be charged, hence the table does not evaluate fees.
Ether.fi Card Redotpay Pionex Card card swipe rewards 3% 1% 1% interest rate USDC can reach 10.4% none 5% custodial mode non-custodial (users self-custody) non-custodial (users self-custody) custodial (exchange custody) card issuance eligibility KYC KYC + card issuance fee exchange KYC card issuance fee free 10 USDT free summary of advantages high rewards no card issuance fee DeFi integration popular Asian crypto card available for payment to activate a physical card exchange integration 5% interest rate
Ether.fi Credit Card Risk Analysis
Ether.fi itself operates based on the Restaking DeFi protocol, so the primary risk is whether its business operations are normal. If users pledge assets for daily consumption using Borrow Mode, a decoupling of the deposited LST could lead to significant asset devaluation or even liquidation.
Exchange Rate Fluctuation Risk
When the USD to TWD exchange rate is unstable and fluctuates significantly, using crypto debit cards like Ether.fi for spending may lead to an increase in exchange rate differences, making card swiping relatively unprofitable.
Reward policies may be adjusted
The main source of rewards for Ether.fi comes from the rewards released by the DeFi protocol itself and the $SCR issued by Scroll, which may potentially reduce relevant reward benefits in the future.
Taiwan Regulations and Compliance Risks
Taiwan's regulations regarding cryptocurrency assets are not yet fully established, so using crypto assets for consumption in Taiwan may involve regulatory and tax uncertainties. However, there has not yet been a large-scale prohibition of crypto debit cards, and they can still be used normally.
Frequently Asked Questions
Is Ether.fi Card safe?
The Ether.fi Card is a non-custodial model, and the wallet autonomy is in the hands of users, so there is no need to worry about centralization risks.
Does Ether.fi provide physical cards?
Currently, Ether.fi is primarily using virtual cards, with only a few regions open for applying for physical cards.
Can I use the Ether.fi Card for transactions in Taiwan?
Yes, but be aware that most transactions are foreign currency transactions (USD to TWD), so additional foreign currency fees will be charged. However, currently, it can be offset by rewards.
Does Ether.fi check credit scores or credit reports?
No, because the Ether.fi Card is a debit card rather than a credit card, so there is no need to apply for a card based on credit scores.
Conclusion
The Ether.fi card not only allows users to use crypto assets for payments in daily life but also enables borrowing stablecoins for spending through the Borrow Mode without giving up existing DeFi earnings. Overall, crypto debit cards have changed the spending habits of people in the crypto space, allowing small daily purchases to be completed with stablecoins. If you are looking for a crypto debit card that allows payments in cryptocurrency and earns rewards, Ether.fi will undoubtedly be your great choice.
This report is for informational sharing only, and the content does not constitute any form of investment advice or decision-making basis. The data, analysis, and opinions cited in this document are based on the author's research and publicly available sources, which may have uncertainties or may change at any time. Readers should make investment judgments prudently based on their personal circumstances and risk tolerance. For further guidance, it is advisable to seek professional advice.
