OKX Card review

The OKX Card is a virtual Mastercard that lets European users spend USDC and USDG from OKX Pay. OKX converts the required amount into euros when you pay, so the merchant receives ordinary fiat and does not need to accept crypto.

It is one of the cheaper crypto cards available in Europe on paper. There are still important conditions to understand. Standard cashback stops at €10 per month, USDC purchases earn no cashback, and the legal terms allow a higher conversion fee than the 0.1% shown on the public fee page.

OKX Card review summary

The OKX Card makes most sense if you already use OKX and expect to spend no more than about €500 in USDG each month. Eligible purchases earn 2% cashback, capped at €10. There is no card subscription, staking requirement or token lockup for this standard tier.

The advertised rates of 4% to 10% belong to OKX VIP tiers. VIP status depends on substantial account assets or trading volume. A fair comparison for most retail users is therefore 2% with a €10 monthly cap, not the maximum 10% headline.

What is the OKX Card?

The European OKX Card is a virtual Mastercard connected directly to the Pay Wallet in the OKX app. UAB Monavate, an electronic money institution licensed by the Bank of Lithuania, issues the card. OKX Europe Limited manages the programme and converts crypto into euros under its Maltese MiCA authorisation.

You can use the virtual card online and in shops through Apple Pay or Google Pay. OKX does not currently issue a physical card, which also means cash withdrawals are unavailable.

Although OKX calls it a debit card, its European terms say it operates on a prepaid BIN. That distinction can matter at hotels, car rental desks, unattended petrol stations and offline terminals. A merchant can reject a prepaid card or insist on a conventional credit card for a security deposit.

How do USDC and USDG payments work?

The card draws from your OKX Pay balance. It supports USDC and USDG. At checkout, OKX sells enough of the selected stablecoin to settle the purchase in euros. Mastercard handles the card conversion when the merchant charges another currency.

Cashback is not equal across both stablecoins. Only eligible purchases funded with USDG qualify. USDC payments process normally but earn no cashback. Rewards are credited in USDG to the Pay account within 72 hours after a transaction settles.

OKX Card fees

The public OKX Card fee schedule quotes a 0.1% spread when converting USDC or USDG into euros. There is no issuance, monthly, annual or inactivity fee. OKX adds no separate card fee to non-EUR purchases, although Mastercard’s exchange rate still applies.

The legal addendum for Europe is broader and permits a crypto liquidation fee of up to 0.40%. We therefore treat 0.1% as the currently published rate, not a guaranteed contractual maximum. Check the final rate and debit in the app.

A low published spread does not eliminate every possible difference. The settled amount can change after authorisation because of tips, fuel station holds or currency movements. The terms allow OKX to take such a difference from the Pay Wallet later.

Cashback: 2% standard and up to 10% for VIPs

The ongoing cashback rates have applied since 1 March 2026. Non-VIP users receive 2% up to €10 per calendar month, which means the reward stops after €500 of eligible spending.

VIP 1 receives 4%, VIP 2 receives 4.5%, VIP 3 receives 5%, and VIP 4 or above receives 10%. Monthly caps rise as high as €1,000. Because VIP status is based on assets or trading volume held with OKX, these tiers are not realistic for many retail users without keeping substantial value on the platform.

The earlier launch offer of 15% for regular users and 20% for VIPs ended on 28 February 2026. It is not the current standard reward.

Not every purchase qualifies. Exclusions include cash equivalents, financial services, tax and government payments, insurance, education, gambling, refunds and internal transfers. The merchant category code ultimately decides eligibility. Even an ordinary shop can be classified under an excluded code, in which case OKX will not award cashback.

How to apply for the OKX Card

1. Create an eligible European OKX account and complete identity verification.
2. Open Pay in the app and activate the Pay Wallet.
3. Select Cards and request the virtual OKX Card.
4. Add USDC or USDG. Choose USDG if you want to qualify for cashback.
5. Add the card to Apple Pay or Google Pay if desired and check the first purchase in your transaction history.

The card is intended for eligible European residents. Exact availability and conditions are determined in the app, and an application can be declined under the checks applied by OKX or the issuer.

Comparing OKX with other crypto cards

Card	Regular cashback	Maximum and cap	Card and FX fees	Card type and main perks	More information
OKX Card	2% when spending USDG	10% from VIP 4, capped at €1,000 per month. Non-VIP cap is €10	€0 subscription. Public conversion spread of 0.1%, legal maximum 0.40%. No extra OKX FX fee outside EUR	Virtual only. Apple Pay and Google Pay. No cash withdrawals	OKX review
Bybit EU Card	1% uncapped for non-VIP users	Up to 10% for VIPs, capped at €600 per month. The temporary summer campaign offers 5% up to €50	0.9% crypto conversion, 0.5% FX fee and 2% for cash withdrawals above the €100 monthly free allowance	Virtual and physical, Apple Pay, Google Pay, cash withdrawals and a one-time rebate on eligible subscriptions	Bybit review
KAST Card	KAST Points and temporary token rewards; these are not the same as cash cashback	The recently published campaign quoted 2% to 8% in points plus 4% in MOVE. Campaigns and reward values can change	$0 for Standard, $40 shipping. 0.5% to 1.75% FX fee outside USD. ATM withdrawals cost $3 plus 2%	Personal USD account, virtual and physical cards, Apple Pay, Google Pay and 10% off memberships with our code	KAST Card review
Ether.fi Cash	3% up to the spending threshold for the membership tier	Up to 4% for VIP. Rates fall above the threshold and limits differ by currency and tier	Core is free. Detailed page describes about 1% base FX plus up to 0.5% margin. ATM 2%	Virtual and physical cards, travel protection, lounge benefits, 5% on Ether.fi Travel and discounts on selected subscriptions	Ether.fi Cash review
Crypto.com Card	Depends on Level Up; many benefits are unavailable without an active tier	Up to 5%, with spending limits and conditions that depend on the tier	No monthly or annual fee for the card itself. Higher tiers require a subscription or CRO lockup; ATM and FX allowances apply	Physical metal cards, selected subscription rebates and lounge access. Crypto.com has changed its card perks repeatedly	Crypto.com Card review
Nexo Card	From 0.5% in NEXO or 0.1% in BTC, in Credit Mode only and with a portfolio above $5,000	Up to 2% in NEXO or 0.5% in BTC at Platinum	€0 subscription. European FX fees start at 0.2% on weekdays and 0.7% at weekends. A 2% fee applies above the free ATM allowance	Virtual and physical card, Debit Mode and Credit Mode, Apple Pay, Google Pay and cash withdrawals	Nexo Card review

The maximum percentages are not directly comparable. OKX gives non-VIP users a higher rate than Bybit, but its €10 cap is reached quickly. Ether.fi combines cashback with broad travel benefits, while KAST partly rewards users with points and temporary tokens. Nexo requires Credit Mode, and Crypto.com ties many perks to a paid or CRO backed tier.

OKX is strongest for users who value low fees, Apple Pay or Google Pay and a straightforward virtual card. Competitors are more complete if you need a physical card, ATM withdrawals, travel insurance, airport lounges or a higher reward ceiling. See our full crypto debit card comparison for a broader overview.

If you also want to trade, our full OKX review covers the exchange, security and trading fees. The OKX 20% discount bonus uses code 20PROCENT and applies to eligible trading fees. This discount is separate from card cashback.

Safety, regulation and risks

Monavate is the regulated card issuer, while OKX Europe Limited manages the Pay Wallet and stablecoin conversion. This structure is clearer than an unregulated card programme, but the balance is not equivalent to money in a bank account.

USDC and USDG in the Pay Wallet are not protected by a European deposit guarantee scheme. The European terms also state that an OKX Europe insolvency would generally leave the user as an unsecured creditor. Stablecoins can lose their dollar peg, and spending crypto may create a taxable disposal in the user’s country.

Keep only the balance you expect to spend in the near term. Enable two-factor authentication, protect your phone and check notifications after each purchase. The virtual card can be frozen in the app if your device is lost.

Our verdict

The OKX Card’s greatest strength is not its maximum cashback but the combination of low costs and few entry requirements. Spending €500 in eligible USDG purchases produces €10 cashback, while the current public rate implies about €0.50 in conversion spread. That is competitive and easy to understand.

The limitations are equally concrete: there is no physical card, USDC earns no cashback, and the standard reward cap is reached quickly. We also dislike the gap between the 0.1% public fee and the legal maximum of 0.40%.

Overall, the OKX Card is a useful secondary card for everyday USDG spending. It is not yet a complete bank card replacement because it lacks cash withdrawals, a physical card and broader travel benefits.