Head to head
Ethena Pay vs Krak
Both cards run on the same benchmark test, so this compares deducted cost rather than advertised rates.
| Metric | Et Ethena Pay | Kr Krak |
|---|---|---|
| Overall rank | #6 of 27 | #8 of 27 |
| FX spread | 1% | 0% |
| Base cashback | 4% | 0% (first cashback unlocks at $200 portfolio) |
| Custody | Non-Custodial (no option to see keys until deleting account | Custodial |
| Virtual card | Yes, Free | Free |
| Physical card | No | Free (Shipping not included) |
| Spend limit | ||
| ATM withdrawals | Free worldwide ATM withdrawals | |
| Setup time | 10 minutes | ~20 minutes |
| KYC steps | 5 | 6 |
| Score | 7.5/10 | 8/10 |
Ethena Pay
Crypto Card Review: Ethena Pay I've been testing Ethena Pay for the last couple of days, and it feels (almost) premium. It's in Beta and nearly ready for public launch; here are my first thoughts. Positives: - Non-USD FX Fee: 1% (cashback negates and beats this) - 4% Cashback on all purchases is sweet (up to 5% w/Pro) - UI is possibly the best among all cards I've tested - Personal US/EUR/GBP IBAN accounts - Insights page showing spending by categories and earning breakdowns - 5% APY - Instant deposits with limited Fees Negatives: - Apple Only (for now) - Multiple "Coming Soon" features - Non-custodial, but no way to see your keys without deleting your account. Rating: 7.5/10 As soon as it's on Android and includes a few of its promised upcoming features, this will be a 9/10.
Krak
Krak positions itself as a neobank alternative rather than a prepaid crypto card. Salary deposits, real-time multi-asset spending without preloading and integrated high-yield vaults make it a capable everyday account, provided you live in the UK or EEA and accept custodial risk.
Who ranks these cards
I'm Tristyn Pawson, founder of ConsistenC.xyz. Over the last five years I've worked on marketing, development and growth across five crypto cards and neobanks, building at least three of them from scratch.
Alongside that I've run in-depth research on 20+ crypto banks to understand what actually makes someone keep a card in their wallet. These rankings reflect that: which problems are tolerable, and which ones are genuine deal breakers.
- Years in market
- 5
- Cards built on
- 5
- Neobanks researched
- 20+