Foxbit Card Review: Fees, Cashback and IOF Costs

Foxbit Card is a prepaid Mastercard from the Brazilian broker Foxbit that pays in reais using the crypto in your Foxbit account. It has no issuance, annual or monthly fee, and it pays up to 1% cashback in crypto, but only on single purchases of R$1,000 or more.

You choose in the app which coin pays by default, from BTC, ETH, USDT, XRP and ADA, and Foxbit sells it for reais at the moment of purchase. Because the card is prepaid, you spend only what's already in your account, with no bill or interest.

Foxbit Card cashback

Foxbit Card pays cashback per purchase, from 0.5% on purchases of R$1,000 to R$2,999.99 up to 1% on purchases above R$3,000, and nothing on smaller purchases.

The tiers depend on the size of each purchase, not on how much you spend in a month, so a month of groceries, fuel and restaurant bills under R$1,000 each earns nothing at all. A R$4,000 laptop earns R$40 back, and a R$1,500 phone earns R$7.50, credited in the same coin you paid with.

Only purchases paid in crypto count, so spending your balance in reais earns nothing. Every cardholder also gets access to Mastercard Surpreenda, which gives discounts at more than 70 partner brands such as Dell and Iberostar.

For most cardholders, the Foxbit Card cashback works as a bonus on the occasional large purchase, and everyday card spending earns 0%.

Foxbit Card fees

Foxbit Card is free to issue and keep, and the costs come from converting crypto to reais, paying abroad and withdrawing cash.

When you pay in crypto, Foxbit sells the coin at the market price at that moment, so the final amount depends on market liquidity. Foxbit doesn't list a separate percentage fee for this conversion, and you can check each sale in the app under Foxbit Card. Paying from a balance in reais costs 0%.

Purchases in a foreign currency carry a 6% charge covering IOF and exchange, which makes the card expensive for travel. A R$2,000 hotel bill abroad costs about R$120 extra.

Foxbit caps accounts without identity verification at R$5,000 a month in deposits and withdrawals in reais, so regular card users will want to verify.

Foxbit Card ATM withdrawal fees

Foxbit Card charges R$6.90 for each cash withdrawal at Banco24Horas ATMs on the Cirrus network in Brazil.

The flat fee is fair for large withdrawals, since R$6.90 on R$500 is about 1.4%, but it hurts on small ones, where R$6.90 on R$100 is almost 7%. If you withdraw crypto as cash, the coin is sold at the market price first. Foxbit doesn't publish a fee for withdrawals at ATMs outside Brazil.

Is Foxbit Card safe?

Foxbit Card is custodial: the crypto you spend sits in your Foxbit account, and Foxbit holds it on your behalf.

Foxbit Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. is based in Osasco, São Paulo, and says it has operated for 11 years with more than 1.5 million Brazilians on the platform. Under Brazil's new rules for virtual asset providers, Resolutions 519, 520 and 521 of 2025, Foxbit says it will file for authorisation with Banco Central.

Crypto held at Foxbit isn't covered by the FGC deposit guarantee or any insurance, so keep only what you plan to spend on the card. The prepaid design at least means the card itself can't run up debt.

Who should get Foxbit Card

Foxbit Card suits people in Brazil who already hold crypto at Foxbit and want to spend it in reais without selling and transferring first.

The zero annual fee and the choice of five coins make the Foxbit Card a cheap card to keep for domestic spending. If you make a few large purchases a year, the 1% on anything over R$3,000 adds a small return.

For everyday spending the Foxbit Card earns nothing, and the 6% charge abroad rules it out for travel. The comparison below shows the strongest alternatives in your country.

Where Foxbit Card is available

Foxbit Card is available only in Brazil, to individuals who open a Foxbit account and request the card in the app or on the web.

The Foxbit Card itself works wherever Mastercard is accepted, in 210 countries and territories, online, in shops and with Apple Pay or Google Pay.