Good
- Self-custody MPC wallet that Kolo can't move funds from alone
- 1% cashback in BTC, or 2% for the first 30 days
- Free virtual Visa with Apple Pay and Google Pay
- USD card withdraws cash at contactless ATMs for 0.65% + $1
Watch out
- 1% conversion fee on every payment offsets the 1% cashback
- Cashback capped at $1 per payment and $100 a month
- No physical card yet, Kolo plans one for 2027
- The EUR card for the EEA can't withdraw cash at ATMs
Kolo Card is a free virtual Visa card that spends crypto straight from a self-custody wallet in the Kolo app. It pays 1% cashback in bitcoin, or 2% for the first 30 days, up to $100 a month. Every payment carries a 1% conversion fee, and there's no physical card yet.
Kolo issues two versions of the card: customers in the EEA get a euro card issued by Wirex, and customers elsewhere get a dollar card issued by Banco Popular de Puerto Rico.
Kolo Card cashback
Kolo Card pays 1% cashback in bitcoin on both the USD and EUR cards, after a first 30 days at 2%.
The monthly cap is $100 (or €100), which at 1% is reached at $10,000 of spending. The tighter limit is per payment: cashback stops at $1 per transaction, so only the first $100 of each payment earns the full 1%. A $400 flight earns $1, which is 0.25%. During the 2% period the per-payment cap is $2, which also kicks in at $100.
Payments under $1 earn no cashback, and the rest is credited once a day after a payment clears, which takes 1 to 3 days for USD payments and up to 14 days for EUR payments. The bitcoin amount is fixed at Kolo's rate when you pay, not when it's credited.
Because every payment carries a 1% conversion fee, the 1% cashback mostly pays that fee back. The card's appeal is self-custody, and the cashback keeps the cost of spending close to zero.
Kolo Card fees
Kolo Card has no issuance or monthly fee, but every payment carries a 1% conversion fee because Kolo sells your crypto at the moment you pay.
A $100 purchase at home costs $101. Kolo also holds back about 1% as a slippage buffer while a payment goes through, so keep slightly more than the purchase amount in the wallet.
FX fees differ between the two cards. The USD card adds 1% on top of Visa's rate for non-dollar payments, and another 1% on dollar payments at merchants outside the US. A $100 purchase in euros on the USD card costs $102 with the conversion fee.
The EUR card adds 0.55% for currencies such as Swiss francs, Polish zloty and Swedish krona, 0.65% for pounds, and 1.35% for everything else. Dollar payments fall under the 1.35% rate, so €100 spent in the US costs €102.35.
Activating the card needs a top-up of at least $10 or €10. Sending crypto out costs a fixed network fee per asset, and a SEPA transfer out costs €1.
Kolo Card ATM withdrawal fees
Kolo Card supports ATM withdrawals only on the USD card, at $1 plus 0.65% per withdrawal, and the EUR card for the EEA can't withdraw cash.
Because the card is virtual, you add it to Apple Pay or Google Pay and tap your phone at a contactless ATM. A $200 withdrawal costs $2.30 in Kolo's ATM fee, and the 1% conversion fee on the crypto you sell comes on top, along with any charge from the ATM owner.
Each withdrawal is capped at $500, with up to 3 per rolling 24 hours, and Kolo says these limits can't be raised. Non-dollar withdrawals add the FX fee, and a declined withdrawal or balance check costs $0.60.
Is Kolo Card safe?
Kolo Card is self-custody: since July 1, 2026, Kolo's terms say it doesn't hold the full private key to your wallet and can't move your funds without you.
The wallet uses multi-party computation (MPC), which splits the key into shares: you hold one that must approve every transaction, and Kolo holds another that can't reach the funds on its own. Kolo can refuse to co-sign a transaction for legal or compliance reasons, but its terms say that doesn't give it control of your assets. The trade-off is that you're responsible for your key share and your device.
The card is a separate layer, with the USD card issued by Banco Popular de Puerto Rico and the EUR card by Wirex in the UK, and card services provided together with Signify Holdings (Rain). Your crypto stays in your wallet until you pay, and at that moment Kolo converts the amount needed and the merchant is paid in dollars or euros.
Kolo is run by Hardline Holding Limited, a Kazakhstan company licensed under the AIFC FinTech Lab regime. Before July 2026 the service was provided by companies in Lithuania and Poland.
Who should get Kolo Card
Kolo Card suits people who want to spend crypto without handing it to an exchange, and who mostly make small and medium payments.
Cashback works best on purchases up to $100, where the full 1% applies. At $1,000 a month in $50 payments, you earn $10 in bitcoin and pay $10 in conversion fees, so spending costs you nothing net at home.
Big-ticket spenders lose out to the $1 per-payment cap, and EEA customers who need cash will need a second card. The comparison below shows the strongest alternatives in your country.
Where Kolo Card is available
Kolo Card is offered with a euro card in the EEA and a dollar card in most other countries, outside those under international sanctions.
Kolo's terms exclude residents of Cuba, Iran, North Korea, Sudan, Syria and other sanctioned countries, so check eligibility in the app before you sign up.