CryptoCards.caa MITEY guide
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Prepaid, debit or credit: which kind of crypto card is it?

Most Canadian crypto cards are prepaid. What that means for credit history, overdrafts, rewards and protection, and how each verified card is classed.

Checked against official sources: October 31, 2026Independent · no affiliate links
Short answer

A prepaid crypto card spends money you load first and builds no credit history. A debit card draws on an account. A credit card lends you money, reports to credit bureaus and charges interest on unpaid balances. Each card on this site is classed using the issuer’s own description.

Figures as of October 31, 2026.
Mitey the yeti reading the card terms
Mitey checks the first line of each cardholder agreement: prepaid, debit or credit decides everything else.
CardType (issuer)Network
Shakepay CardPrepaidVisa
Crypto.com VisaPrepaidVisa
MetaMask CardDebitMastercard
PrepaidDebitCredit
Money spentA balance you loadedYour account balanceThe issuer’s money, repaid later
Credit check to get itUsually noUsually noYes
Builds credit historyNoNoYes, if reported
InterestNoneNoneOn unpaid balances
Overspending riskLimited to the balanceLimited to the balanceUp to the credit limit
A prepaid balance is not automatically a bank deposit. See CDIC and crypto cards.
A prepaid card with no fee, on a light budget
A prepaid card with no fee, on a light budget: inputs, steps and result
Card and tierShakepay Card — Base
Purchases in CAD$600 a month
Purchases in a foreign currency$0 a month
Rewards (at the CAD value when credited)$72.00 a year1% of eligible spend, paid in BTC
Fixed fees$0.00
Foreign-currency fees$0.00
Net a year$72.00No fixed fee to recover.

Open this example in the calculator →Computed 2026-11-03.

What this means for you

None of the verified crypto cards is a credit card, so none builds credit history. If that matters to you, keep a regular credit card for it.

Sources

  1. Shakepay — Card — no date shown; read October 31, 2026
  2. Shakepay Help Centre — What are the Shakepay reward statuses? — page dated October 31, 2026
  3. Shakepay Help Centre — Cashback rewards with the Shakepay Prepaid Visa Card — no date shown; read October 31, 2026
  4. Shakepay Help Centre — What are the fees and limits of the Shakepay Card? — no date shown; read October 31, 2026
  5. Shakepay Help Centre — How do I order and use my physical Shakepay Card? — no date shown; read October 31, 2026
  6. Shakepay Help Centre — How does the Shakepay Card work? — no date shown; read October 31, 2026
  7. Shakepay Visa Prepaid Card — Cardholder Agreement (Peoples Trust Company) — no date shown; read October 31, 2026
  8. CSA — Crypto platforms authorized to do business with Canadians — page dated September 18, 2026
  9. Crypto.com — Crypto.com Visa Card (Canada) — no date shown; read November 1, 2026
  10. Crypto.com Help Center — Prepaid Visa Card Fees and Limits (Canada) — no date shown; read November 1, 2026
  11. Crypto.com Help Center — Prepaid Card Rewards & Benefits — no date shown; read November 1, 2026
  12. Bank of Canada Valet — USD/CAD (FXUSDCAD) — page dated November 2, 2026
  13. MetaMask — MetaMask Card — no date shown; read November 3, 2026
  14. CDIC — Fintechs — no date shown; read October 30, 2026

Educational information, not financial, tax or legal advice. 5 min read. Reviewed October 31, 2026.