Best Crypto Cards in Italy 2026
The 33% tax rate on crypto gains that hit Italy in January 2026 changed the math for every cardholder in the country. With the €2,000 tax-free exemption abolished, buying a cappuccino with Bitcoin is now a taxable event that requires tracking the cost basis of that specific fraction of a coin. This regulatory shift has made the "spend-to-sell" model of traditional crypto cards a headache for Italian users.
The cards in this roundup represent a shift toward self-custody and on-chain credit. Two of these options allow you to spend without triggering an immediate sale of your underlying investment assets. Another offers a direct IBAN to bypass the increasing hostility of Italian banks like UniCredit. For Italian users, the best crypto cards in Italy 2026 are no longer just about earning rewards. They are about maintaining custody and managing tax efficiency in a high-compliance environment.
For a full list of crypto cards available in Italy, see our Italy crypto cards page.
At-a-Glance Comparison
The following table breaks down the fee structures and reward potential for the top contenders available to Italian residents.
| Card | Tiers Compared | Cashback | Annual Fee | FX Fee | Staking |
|---|---|---|---|---|---|
| Ether.Fi Cash Card | Core, Luxe, Pinnacle | 3% (wETH) | Free | 1% | None to ~$47,000 |
| Ready Card | Lite Card, Metal Card | 0.5-3% (STRK) | Free | 0% | None |
| Kolo Card | Standard | 2% (BTC) | Free | 0% | None |
| PAYY Card | Virtual PAYY Card, Virtual PAYY Card | None | Free | 1% | None |
| Gnosis Pay Card | Base Card, Tier 2, Tier 4 | 0-4% (GNO) | Free | 0% | None to ~$13,000 |
Ether.Fi Cash Card Review: Borrowing Against Collateral
Verdict: The best option for Italian investors who want to spend liquidity without triggering a taxable sale of their ETH stack.
The Ether.Fi Cash Card operates on a fundamentally different model than most competitors. Instead of selling your crypto at the point of sale (POS), it allows you to borrow against your yield-bearing assets held in a Gnosis Safe wallet. For Italian users facing the 33% capital gains tax, this distinction is critical. Borrowing against an asset is generally not treated as a taxable disposal in the same way a sale is. You keep your eETH collateral earning yield while spending a stablecoin balance or credit line.
The card runs on the Scroll L2 network, meaning transactions are gasless and settle on-chain. The rewards program is aggressive, offering 3% cashback in wETH (Wrapped Ethereum) even on the free Core tier. This is significantly higher than the standard 1-2% found elsewhere. However, the "borrow" mode introduces liquidation risk. If the market drops significantly, the smart contract may sell your collateral to cover the debt. This would trigger the exact taxable event you might be trying to avoid, potentially at the worst possible market moment.
Italy-Specific Considerations:
The 1% FX (foreign exchange) fee applies to non-USD spending. Since this card is denominated in USD/stablecoins, Italian users spending in Euros will hit this 1% fee on every transaction. You must weigh the 3% cashback against the 1% FX fee and the tax advantages of the borrowing model.
Best for: High-net-worth ETH holders who understand liquidation risk and want to avoid taxable disposals.
Ready Card Review: High Yield Self-Custody
Verdict: A high-reward option for users willing to manage their own stablecoin liquidity.
The Ready Card (formerly associated with Argent) pushes the self-custody model to its limit. Funds remain in your personal wallet until the exact second of purchase. This uses "session keys" to authorize the transaction without giving the issuer full control of your funds. The Metal tier offers a substantial 3% cashback in STRK tokens, with "boost hours" pushing that rate to 6%. For an Italian user spending €2,000 monthly, the net return can be significant, potentially offsetting the tax drag on other parts of your portfolio.
The limitation here is the strict requirement to spend USDC or USDC.e. You cannot spend ETH or BTC directly. You must swap into USDC first. In Italy, that swap is a taxable event. This means you need to manage your liquidity carefully. The 120 USDC annual fee for the Metal card is paid upfront and is non-refundable.
Italy-Specific Considerations:
The card has 0% FX fees, which is excellent for Euro spending despite the card being USDC-based. However, the cashback is paid in STRK. If STRK price volatility is high, your "3%" reward could lose value rapidly before you can sell it. Under Italian law, receiving these rewards contributes to your taxable income base.
Best for: Active DeFi users who keep large stablecoin balances and want maximum cashback yield.
Kolo Card Review: The Memecoin Spender
Verdict: A flexible but risky option for spending smaller cap tokens and memecoins directly.
Kolo distinguishes itself with its "Memepay" feature and broad asset support. While most cards restrict you to Bitcoin, Ethereum, or stablecoins, Kolo allows direct spending of tokens like PEPE. The card offers a flat 2% cashback in BTC. The "Swap by Kolo" engine routes trades through a mix of centralized and decentralized exchanges to find the best rate at the moment of purchase.
The risks with Kolo are operational. The card operates under a "testing regulatory regime" with a pending FinTech Lab license. The terms allow the company to reduce spending limits to $0 without notice. For an Italian user relying on a card for daily expenses, this lack of stability is a major red flag. It serves better as a secondary card for off-ramping specific assets rather than a primary daily driver.
Italy-Specific Considerations:
Kolo claims 0% markups on EURC (Euro Coin), which could offer a tax-efficient way to spend if you hold Euro-denominated stablecoins. However, the dynamic spending limits and regulatory uncertainty make it risky to hold significant funds on the platform, especially given the strict OAM (Organismo Agenti e Mediatori) registration requirements for providers in Italy.
Best for: Users who need to off-ramp memecoins or altcoins that other cards don't support.
PAYY Card Review: Privacy Over Rewards
Verdict: A niche tool for privacy maximalists who are willing to sacrifice all rewards.
PAYY is unique in this lineup because it offers zero rewards. No cashback, no points, no perks. Its value proposition is privacy. The card runs on the Payy Network, which utilizes zero-knowledge proofs to shield transaction amounts and balances on-chain. It is a self-custodial model where the private key lives on your device.
The trade-off is steep. In our scenario analysis, this card has a negative net return due to the lack of rewards to offset the 1% FX fee. Furthermore, the physical card is contactless-only. In Italy, where many older POS terminals in smaller towns still require chip insertion, this is a practical limitation. The lack of rewards makes it hard to justify for general spending when the 33% tax rate already eats into your purchasing power.
Italy-Specific Considerations:
While the privacy features are robust, they do not exempt you from Italian tax obligations. You are still legally required to track the cost basis of the USDC you spend. Using privacy tools to evade the 33% tax is a criminal offense in Italy. The card is best used for personal security rather than tax evasion.
Best for: Users who prioritize on-chain privacy above financial return.
Gnosis Pay Card Review: The Euro-Native Solution
Verdict: The most practical daily driver for Italian residents due to native Euro support and IBAN integration.
Gnosis Pay offers the strongest infrastructure for European users. It connects a Visa card directly to a Gnosis Safe smart contract on the Gnosis Chain. The killer feature for Italians is the support for EURe (Monerium). You can transfer Euros via SEPA Instant to your Gnosis IBAN, where they are minted as EURe on-chain. When you spend, the transaction settles in EURe. This eliminates FX fees entirely and removes the volatility risk of holding USD stablecoins.
The rewards system is tiered based on holding GNO tokens. The Base Card offers 0% cashback, but holding just 1 GNO (currently $150) unlocks 1% cashback. Tier 4 requires 100 GNO ($13,000) for 4% cashback. The yield is paid in GNO, which is volatile. The setup is complex, requiring bridging funds to Gnosis Chain, but once active, it offers the smoothest banking-like experience.
Italy-Specific Considerations:
Because you can spend EURe directly, you avoid the conversion fees that plague other cards. While spending EURe is still technically a disposal of a crypto asset, the capital gain/loss is typically zero (since 1 EURe = €1), which simplifies tax reporting significantly compared to spending BTC or ETH.
Best for: Italian users who want a primary bank replacement with on-chain benefits.
Category Winners
Best for Avoiding FX Fees:
Gnosis Pay Card. By supporting EURe directly, it eliminates the currency conversion friction that costs Italian users 1-2% on other cards. The integration with SEPA Instant makes funding reliable, bypassing the blocks often imposed by Italian banks.
Best for High Yield (If You Have Capital):
Ether.Fi Cash Card. The 3% cashback on the free tier is excellent, but the real value comes from the ability to borrow against yield-bearing ETH. If you manage the liquidation risk, you get spending power while keeping your asset exposure.
Best No-Staking Option:
Ready Card. With up to 3% cashback on the Metal tier and no token staking requirement, it offers high returns for users who just want to spend USDC. The 120 USDC fee is easily recouped if you spend over €400/month.
Best for Privacy:
PAYY Card. It is the only option that shields your spending habits on-chain. Just remember that privacy features do not remove your legal obligation to report spending to the Agenzia delle Entrate.
Final Verdict
For the average crypto-native user in Italy in 2026, the Gnosis Pay Card is the superior choice. The combination of an IBAN for SEPA transfers (crucial given Italian banking hostility) and native EURe support makes it the most robust daily driver. It solves the on-ramp problem and the FX fee problem simultaneously.
If your goal is to leverage your ETH holdings without selling, the Ether.Fi Cash Card is a powerful alternative. The ability to borrow against collateral aligns perfectly with a strategy to minimize taxable events, provided you are comfortable managing the liquidation risk.
Ready Card serves as a strong backup for stablecoin heavy users, while Kolo and PAYY remain niche products for specific use cases (memecoins and privacy, respectively) rather than general financial tools.
Frequently Asked Questions
Do I have to pay tax if I buy a coffee with my crypto card in Italy?
Yes. Since the removal of the €2,000 exemption in 2025, every purchase made with crypto is treated as a disposal of assets. You must calculate the capital gain or loss on that specific amount. If there is a gain, it is taxed at 33%.
Which crypto card avoids the 33% Italian tax rate?
No card exempts you from the tax rate. However, cards like Ether.Fi that allow you to borrow against your collateral (rather than selling it) may avoid triggering a taxable event at the moment of purchase. You should consult an Italian commercialista to confirm how this applies to your specific situation.
Will my Italian bank account be closed if I transfer money to these cards?
Italian banks like UniCredit have aggressive anti-crypto policies. Direct transfers to crypto exchanges are often blocked. Using a card provider that offers a personal IBAN (like Gnosis Pay) or using SEPA Instant transfers tends to be more reliable than standard card top-ups.
Are stablecoins like USDT tax-free when I spend them in Italy?
No. Stablecoins are treated as "cripto-attività." While the capital gain on a stablecoin transaction is usually near zero (since the price doesn't fluctuate much against the dollar), you are still legally required to track the transaction. Spending Euro-pegged stablecoins (like EURe on Gnosis Pay) can simplify this calculation.
What is the 0.2% stamp duty mentioned for Italian users?
Italy applies a 0.2% annual tax (imposta di bollo) on the value of crypto assets held. If your card provider is considered an Italian intermediary or you hold the assets on a custodial platform, this may be deducted automatically. Self-custodial cards generally place the burden of paying this tax on the user via their annual tax return.