Europeans should switch to crypto cashback cards for daily purchases

TL;DR Given the differences between credit card perks in the US vs. Europe, Europeans should be embracing crypto cashback cards that allow you to spend fiat (not crypto) and return up to 3% cashback in crypto rewards to the user. (Cashback can go much higher than 3% if you're willing to stake a company's native token).

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One of the biggest differences that I've noticed in personal finance between the US and Europe is the use of credit cards. In the US, folks with high credit scores are usually bombarded with offers from card companies that give them sizeable sign-up bonuses, completely interest free loans or balance transfers and generous cashback percentages on purchases. Speaking only about credit cards that do not charge an annual fee, a good (free) card in the US will give you around 2% cashback on all of your purchases and some even have additional perks that allow you to earn 5-6% in certain categories or during specific time frames (e.g. Q1 restaurants, Q2 online shopping). Those who are in control of their finances and do not fall victim to using their credit cards to spend beyond their means are usually able to use all of these perks to their advantage and make some money back by moving all of their spending to the card.

Europe is a quite different in this regard. While most countries have embraced plastic and you can buy pretty much anything with your credit card, the relationship that folks have with their cards is unlike the US. First of all, there is no bombardment of credit card offers in your mailbox each week. There are often no signup bonuses, or they are very small (€25). Credit limits are much lower, even for high earners. And the biggest difference is that there are usually no perks for using the card, with most cards giving 0% cashback and a select few in some countries giving maybe 1% (and that's typically capped at a certain € amount of cashback per year).

Enter crypto rewards cards and now Europeans have the opportunity to earn some money back while using a card for most of their spending. Typically crypto cashback cards are prepaid (so you need to top up before use). Also, typically cashback rewards are paid in their native token. To the more traditional crypto investor who only owns top 10 coins, this may not be very attractive. However, it is clear that 3% cashback in an asset that has the potential to appreciate beats 0% cashback any day. I highly recommend that those in Europe look into the offerings in this space and hopefully you can start earning a bit of crypto back on all of your daily spending.

Lastly, the point of this post is not to promote any specific company. Hopefully the community can share their experiences with some cards in the comments. I am currently using Plutus and have done a lot of research on 2gether and Crypto dot com, but I am sure there are many more.