Best Crypto Cards in Portugal 2026

The Portuguese tax authority, Autoridade Tributária (AT), applies a specific rule that changes how you should choose a crypto card. If you spend cryptocurrency held for less than 365 days, you owe a flat 28% tax on the capital gain. If you hold that same asset for 366 days, the spending event is tax-exempt.

This creates a unique friction for Portuguese users. A card that automatically liquidates your oldest assets (FIFO) helps you reach that tax-free threshold. A card that forces you to spend recently deposited stablecoins simplifies your tax reporting entirely, as stablecoins rarely generate capital gains against the Euro.

The best crypto cards in Portugal for 2026 are no longer simple prepaid Visa cards that you load with fiat. They are on-chain tools. Three of the five cards in this roundup connect directly to self-custody wallets or smart contracts. This distinction matters because it determines whether you are triggering a taxable disposal every time you buy coffee or only when you choose to settle a balance.

For a full list of crypto cards available in Portugal, see our Portugal crypto cards page.

Comparison Table

The following table compares the fee structures and rewards for the top cards available to Portuguese 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 users who want to spend without selling their ETH position.

The Ether.Fi Cash Card operates on the Scroll L2 network and fundamentally changes the tax logic of crypto spending. Instead of selling your crypto to fund a purchase, this card allows you to borrow against your yield-bearing assets (like eETH). You maintain your position and continue earning staking rewards while spending a credit line.

For Portuguese residents, this "borrow" mode is significant. Since you are not disposing of the asset at the point of sale, you may avoid triggering the 28% capital gains tax associated with selling assets held for less than a year. However, you must manage your collateral ratio carefully. If the market dips and your collateral value falls, the protocol will liquidate your assets to cover the debt. That liquidation is a taxable event.

Fees and Rewards
The card offers a flat 3% cashback in wETH on the Core tier without any staking requirement. This is exceptionally high for a free tier. The catch is that cashback rates are progressive and decrease as your monthly spending increases. There is a 1% foreign exchange fee, which applies if you spend outside the Eurozone.

Pros:

• Non-custodial: You keep control of assets in a Gnosis Safe until settlement.
• Yield retention: Your collateral continues to earn staking rewards while you spend.
• High base rewards: 3% cashback without locking up capital is market-leading.

Cons:

• Liquidation risk: A market crash can wipe out your collateral if you over-borrow.
• Interest accrual: Borrowed funds accrue interest immediately.
• Complex setup: Requires familiarity with L2 networks and collateral management.

Best for: sophisticated DeFi users who want to leverage their ETH holdings rather than sell them.

Ready Card Review: Self-Custody and Account Abstraction

Verdict: The top choice for high-volume spenders who prioritize self-custody and USDC.

The Ready Card (formerly associated with Argent) uses account abstraction technology to keep funds in your own wallet until the exact moment of purchase. Unlike prepaid cards where you deposit funds into a black box, the Ready Card utilizes "session keys" to authorize transactions from your self-custody wallet.

This card is strictly for USDC and USDC.e spending. For Portuguese users, this simplifies tax reporting significantly. Since 1 USDC tracks the dollar, capital gains against the Euro are usually minimal compared to volatile assets like Bitcoin. You avoid the complexity of the 365-day rule because you are spending a stable asset.

Fees and Rewards
The Metal Card tier offers 3% cashback in STRK tokens but comes with a steep 120 USDC annual fee. The Lite Card is free but drops rewards to 0.5%. The cashback is paid in STRK, meaning your rewards are subject to the volatility of the Starknet token. If STRK drops 50% in value, your effective cashback rate is halved.

Pros:

• True self-custody: Funds never leave your wallet until you swipe.
• Zero FX fees: Excellent for Portuguese users traveling outside the Eurozone.
• High limits: Spending limit of $30,000 per 30 days.

Cons:

• High barrier: 120 USDC upfront fee for the Metal tier.
• Asset restriction: Only supports USDC spending.
• Reward volatility: Cashback is paid in STRK, which can be highly volatile.

Best for: Heavy spenders who want to keep their funds in self-custody and avoid FX fees.

Kolo Card Review: Direct Memecoin Spending

Verdict: The most flexible card for spending alternative assets and memecoins.

Kolo Card distinguishes itself with its "Memepay" feature, allowing users to spend assets like PEPE directly without manually swapping them first. The card uses an AI-based routing engine to find liquidity across centralized and decentralized exchanges in real-time at the point of sale.

While convenient, this feature carries a specific warning for Portuguese users. Spending a memecoin like PEPE is a disposal event. If you bought PEPE three months ago and it went up 10x, spending it on a coffee triggers a 28% tax on that gain. You must track the acquisition date of every asset you spend through Kolo to know if you fall inside or outside the 365-day exemption window.

Fees and Rewards
The card has no annual fee and offers 2% cashback in BTC. This is a solid return paid in the hardest asset, avoiding the volatility risk of altcoin rewards. However, the card operates under a "testing regulatory regime" with a pending FinTech Lab license. This regulatory status allows them to dynamically reduce spending limits to $0 without notice, which is a significant reliability risk.

Pros:

• Asset variety: Spends BTC, ETH, and memecoins directly.
• BTC Rewards: 2% cashback paid in Bitcoin is a strong value proposition.
• Fast onboarding: 1-minute KYC process.

Cons:

• Regulatory uncertainty: Operating under a testing license creates stability risks.
• Dynamic limits: Spending power can be cut to zero unexpectedly.
• Tax complexity: Spending volatile assets triggers frequent taxable events.

Best for: Users who hold a diverse portfolio of altcoins and want to spend them directly.

PAYY Card Review: Privacy and Zero-Knowledge Proofs

Verdict: The only option for users who demand on-chain privacy.

PAYY prioritizes privacy over rewards. It operates on a custom network that uses zero-knowledge proofs to shield transaction amounts and balances from public view. On a standard blockchain, anyone who knows your wallet address can see your entire financial history. PAYY breaks this link.

Privacy does not equal tax evasion. Portuguese residents are still legally required to report these transactions to the AT. The benefit here is personal security, preventing merchants or prying eyes from seeing your net worth when you pay for dinner.

Fees and Rewards
The trade-off for privacy is value. The PAYY card offers 0% cashback. There are no rewards, no points, and no perks. You are paying the opportunity cost of lost cashback in exchange for privacy. The physical card is also contactless-only, meaning it lacks a chip or magnetic stripe, which will cause it to fail at older payment terminals in Portugal.

Pros:

• On-chain privacy: Balances and transaction amounts are hidden.
• Self-custody: Keys are generated locally on your device.
• Global acceptance: Works anywhere Visa is accepted (subject to terminal compatibility).

Cons:

• Zero rewards: No cashback or benefits.
• Hardware limitations: Contactless-only card limits physical usage.
• Beta feel: ATM access is restricted and deposit methods can be complex.

Best for: Privacy advocates who are willing to sacrifice rewards for financial confidentiality.

Gnosis Pay Review: On-Chain Settlement and IBAN Integration

Verdict: The most robust technical solution for European DeFi users.

Gnosis Pay offers a unique advantage for Portuguese residents: it includes a personal IBAN connected to your on-chain wallet. This allows you to receive Euro transfers (via SEPA) directly into a self-custodial setup. The card connects a Visa debit credential to a Gnosis Safe smart contract, settling transactions on the Gnosis Chain.

This integration solves a major banking friction in Portugal. While banks like Santander Totta or Novo Banco may scrutinize transfers to crypto exchanges, sending funds to your own personal IBAN at Gnosis Pay is a standard SEPA transfer.

Fees and Rewards
The base card has no monthly fee but requires a €30 card issuance cost. To earn cashback, you must stake GNO tokens. Tier 2 offers 2% cashback but requires staking 1 GNO ($150). To reach the 4% cashback level (Tier 4), you must stake 100 GNO ($13,000). The rewards are paid in GNO, so your return is tied to the ecosystem's performance.

Pros:

• IBAN integration: Seamlessly bridges SEPA banking with on-chain assets.
• Gasless spending: No transaction fees for the user at the point of sale.
• Zero FX fees: Excellent for spending globally.

Cons:

• Limited assets: Only supports specific stablecoins (EURe, GBPe, USDCe) on Gnosis Chain.
• Bridging required: Users must bridge funds to Gnosis Chain to use the card.
• High staking requirements: Top-tier rewards require substantial capital lockup.

Best for: Users who want a primary bank replacement that lives entirely on-chain.

Category Winners

Best for No-Staking Rewards
The Ether.Fi Cash Card takes this category. It offers 3% cashback on its free Core tier without requiring you to lock up thousands of dollars in volatile tokens. Most competitors require $1,000+ in staking to reach even a 2% reward rate.

Best for High-Net-Worth Stakers
Gnosis Pay offers the highest potential ceiling. If you hold 100 GNO (~$13,000), you unlock 4% cashback on a card that also integrates deeply with the Gnosis Safe ecosystem. For users already holding GNO, this is efficient capital utilization.

Best for Portuguese Banking Integration
Gnosis Pay wins here due to its IBAN provision. The ability to use SEPA Instant rails to move Euros from a Portuguese bank account directly into an on-chain environment bypasses much of the friction local banks place on crypto exchange transfers.

Final Verdict

The market has split into two distinct directions. On one side, you have cards like Ether.Fi and Ready, which push the boundaries of DeFi by allowing you to spend borrowed funds or self-custodied assets. These are powerful tools for users who want to keep their crypto working for them until the last possible second.

On the other side, Gnosis Pay is building a replacement for the bank account itself, merging the IBAN system with smart contracts.

For the average Portuguese user in 2026, the Ether.Fi Cash Card offers the best immediate value due to its high base cashback and the potential tax efficiency of its borrowing model. However, users must remain vigilant about liquidation risks. If you prefer safety and simplicity, the Ready Card spending USDC avoids the volatility and tax headaches of spending appreciated assets, provided you can stomach the upfront fee.

As we approach 2027, keep an eye on DAC8 reporting rules. All these providers will begin sharing transaction data with tax authorities automatically. The era of obscure crypto spending is over; the era of efficient, on-chain spending has arrived.

Frequently Asked Questions

Do I have to pay tax every time I use my crypto card in Portugal?
It depends on the asset you spend and how long you have held it. If you spend cryptocurrency held for 365 days or more, the gain is generally exempt from tax. If you spend assets held for less than one year, the transaction is considered a disposal and you may owe 28% tax on the capital gain.

Can I use MB WAY or Multibanco to top up these crypto cards?
Not directly. Most crypto cards require a SEPA bank transfer to fund them with fiat. However, because Portugal supports SEPA Instant, you can usually move money from your Portuguese bank account to your card provider's IBAN in seconds.

Are stablecoins like USDT or USDC taxed differently in Portugal?
No. Portuguese law treats stablecoins as crypto-assets. Spending them follows the same rules regarding the 365-day holding period. However, because stablecoins are pegged to fiat, the capital gain (or loss) is usually negligible compared to spending Bitcoin or Ethereum, which simplifies the tax calculation.

What happens if I lose my phone or card with a self-custody card like Ready or PAYY?
With true self-custody cards, your funds are on the blockchain, not on the card. If you lose the physical card, your funds remain safe in your wallet. However, if you lose your private keys or recovery phrase, you lose access to your funds permanently. The card provider cannot recover them for you.

Will my Portuguese bank block transfers to these cards?
It varies by bank. Some traditional Portuguese banks have strict compliance policies regarding crypto transfers. Cards that provide a personal IBAN (like Gnosis Pay) often face less friction because the transfer is seen as a movement of funds to an account in your own name rather than to a third-party crypto exchange.