1inch Card:
a self-custody brand's name on a fully custodial card.
We tore apart the 1inch Card across seven weighted categories; from a genuine DEX-aggregator pedigree and 0% FX to a custody structure that leaves cardholders as unsecured creditors if the issuer fails, and cashback math that can turn negative depending on which asset you pick; and landed on a score the marketing page won't show you.
Our take, up front: 1inch built its reputation as the world's most-used DEX aggregator, with a genuinely self-custodial wallet product behind it. This card, despite carrying the same name, is not that: funds loaded onto it are held by Baanx, a third-party fintech, and if Baanx fails, one detailed independent reviewer states plainly that cardholders become unsecured creditors. That confusion matters because it's exactly the kind of gap this series exists to flag. Layer on a 1.75% crypto-to-fiat conversion fee applied to every single transaction, and the math gets genuinely strange: one detailed analysis shows that choosing BTC or USDT cashback instead of the card's own BXX token actually produces a net loss at typical spending levels, since the 1.75% fee outweighs the 1% reward. The 2% BXX rate can work, modestly, but the margin for error here is thinner than almost anywhere else in this series. We weighted all of it below.
This is genuinely worth being direct about: 1inch's own wallet and DEX aggregator are self-custodial, but the card is not. Funds loaded onto it are held by Baanx (FCA-regulated, issuing via Monavate through the Crypto Life platform), a fully custodial arrangement. One detailed independent review states it plainly: if Baanx fails, cardholders are unsecured creditors, and the explicit recommendation is not to keep more on the card than you plan to spend in the near term.
Pros
- Baanx is FCA-regulated, and Monavate provides a real, licensed issuing structure
- No major disclosed security incidents or fund losses found since the April 2024 launch
Cons
- Fully custodial; cardholders are explicitly described as unsecured creditors if Baanx fails
- The 1inch brand association creates real, documented confusion about the card's actual custody model
- Card balances are separate from and less protected than assets held in the self-custodial 1inch app itself
Cardholders choose their cashback asset at the point of purchase: 2% in BXX (Baanx's own token, no staking required) or 1% in BTC or USDT. That flexibility sounds like a strength until you factor in the 1.75% crypto-to-fiat conversion fee that applies to every transaction regardless of which asset you pick. One detailed independent analysis calculates the real-world outcome at $3,000/month spend: net positive around €90/year choosing BXX, but a net loss of roughly -€180/year choosing BTC, because the 1% reward doesn't cover the 1.75% fee. A separate source estimates the card earns $327/year less than the category average even at its best cashback tier.
Pros
- The 2% BXX rate requires no staking or lockup to access
- Choice of reward asset at the point of purchase is genuinely flexible in principle
Cons
- Choosing BTC or USDT cashback can produce a net loss once the 1.75% conversion fee is factored in, confirmed by independent calculation
- Estimated to earn roughly $327/year less than the average crypto card even at the top cashback tier
- BXX is a proprietary token with its own volatility risk, on top of already-thin net returns
$0 annual fee and a genuine 0% FX fee are real, consistently cited strengths, useful for anyone spending internationally within the UK/EEA footprint. But the 1.75% crypto-to-fiat conversion fee applies to every transaction, a cost one detailed reviewer specifically calls "the critical detail most reviews skip." ATM access is capped at a $500 daily limit with a 2% fee on top, and the daily spending limit sits at $8,000.
Pros
- $0 annual fee
- Genuine 0% FX fee for cross-border spending
Cons
- 1.75% crypto-to-fiat conversion fee applies to every single transaction
- 2% ATM fee on top of a relatively low $500 daily ATM limit
- The "0% FX" framing doesn't reflect the conversion fee that applies regardless of currency
The card serves the UK and EEA, roughly 31 countries, with no US availability. KYC is notably fast, grouped by independent trackers among the quickest verification processes in the category (around 2 minutes), alongside RedotPay, KAST, MetaMask Virtual, and Bleap.
Pros
- Fast, minimal-friction KYC, among the quickest onboarding processes in this category
- Solid ~31-country UK/EEA footprint
Cons
- No US availability
- Regional footprint is moderate, not broad, compared to global cards elsewhere in this series
The card's real, genuine differentiator is its tie to 1inch's DEX aggregator, the most-used swap-routing protocol in DeFi, letting cardholders convert on-chain holdings and yields into real-world spending. Eight assets are supported for funding: 1INCH, BTC, ETH, USDT, USDC, LTC, XRP, and BXX. CryptoDraft offers interest-free crypto-backed credit, a genuine additional feature, though its specific terms and limits are thinly documented in the sources we reviewed. No staking or yield mechanism was found on idle card balances.
Pros
- Genuine integration with 1inch's DEX aggregator for on-chain to real-world spending
- Eight supported funding assets, a reasonable selection
- CryptoDraft offers interest-free crypto-backed credit as an additional feature
Cons
- CryptoDraft's specific terms, limits, and mechanics are thinly documented
- No staking or yield mechanism found on idle card balances
Apple Pay and Google Pay are both supported, and both virtual and physical cards are available, unlike several newer, virtual-only competitors in this series. Fast KYC (roughly 2 minutes) is a genuine onboarding advantage. We found no independently cited app-store rating for the card specifically.
Pros
- Both virtual and physical card formats are available
- Fast, minimal-friction KYC onboarding
- Apple Pay and Google Pay support
Cons
- No independently cited app-store rating found for the card
Launched in April 2024, the card has roughly two years of operating history by this review, with no major disclosed security incidents or scandals found. Baanx and Monavate carry real, active UK regulatory oversight. We found no independently verifiable aggregate customer review score (like a Trustpilot rating) for this card specifically in our research.
Pros
- No major disclosed security incidents or scandals since the April 2024 launch
- Real, active UK regulatory oversight through Baanx and Monavate
Cons
- No independently verifiable aggregate customer review score found
- Relatively short, roughly two-year operating history
Pick BXX cashback, not BTC or USDT, if you sign up.
The math only works out in your favor with BXX rewards; choosing BTC or USDT cashback instead can net you a real loss once the 1.75% conversion fee is factored in. Set your reward asset accordingly before you start spending.
A famous self-custody name, on a card that explicitly isn't.
The lowest score in this series so far comes down to two compounding problems rather than one obvious failure. First, the custody structure: 1inch's actual wallet and DEX products are self-custodial, but this card isn't, and at least one detailed reviewer is blunt that a Baanx failure leaves cardholders as unsecured creditors. Second, the rewards math: a 1.75% conversion fee applied to every transaction means two of the card's own three advertised cashback options can produce a net loss rather than a net gain. Neither problem is hidden exactly, both show up in the fine print, but neither is prominent in the marketing either, and together they undercut a card that otherwise has a real, genuine technical hook in the DEX aggregator integration.
The scorecard above is deliberately general. Whether the 1inch Card is right for you depends heavily on which of these you already are.
The active 1inch DEX user in the UK/EEA
You already route swaps through 1inch and want a natural way to spend on-chain gains, understand the card is custodial despite the branding, and will select BXX for cashback.
The fast-KYC seeker who wants both virtual and physical options
You want minimal onboarding friction and the flexibility of a physical card, which several newer, virtual-only competitors in this series don't offer.
The occasional CryptoDraft user
If interest-free crypto-backed credit genuinely fits your needs and you're comfortable with the custodial risk, this is a real, distinct feature few other cards in this series offer in the same form.
Anyone assuming self-custody, or planning to pick BTC/USDT cashback
The 1inch brand association doesn't extend to this card's custody model, and choosing the "wrong" reward asset can produce a real net loss rather than a gain.
The scorecard covers the headline judgment calls. These four tables cover the specifics we didn't want to bury in prose; what "self-custodial 1inch" actually means for this card, the real net value by cashback asset, the fee schedule, and how this card compares against every other card we've reviewed in this series.
1inch Wallet vs. 1inch Card: two different custody models
| 1inch Wallet / DEX | 1inch Card | |
|---|---|---|
| Custody | Self-custodial; you hold your own keys | Custodial; funds held by Baanx |
| If the provider fails | Your assets remain accessible in your own wallet | You are an unsecured creditor of Baanx |
| Regulatory backing | Not applicable (non-custodial protocol) | FCA-regulated via Baanx, issued through Monavate |
These are genuinely separate systems sharing a brand name. Don't assume the self-custody reputation of the 1inch wallet or DEX aggregator extends to money loaded onto this card.
Real net value by cashback asset (at $3,000/month spend)
| Cashback asset | Reward rate | Conversion fee cost | Net annual value |
|---|---|---|---|
| BXX | 2% | 1.75% on every transaction | ~+€90/year |
| BTC | 1% | 1.75% on every transaction | ~-€180/year (net loss) |
| USDT | 1% | 1.75% on every transaction | Similarly negative to BTC |
This is the single most important table in this review. The card only produces a real net gain if you consistently select BXX cashback; the other two advertised options can cost you money net once the conversion fee is included.
Fee schedule
| Fee | Amount |
|---|---|
| Annual fee | $0 |
| FX fee | 0% |
| Crypto-to-fiat conversion | 1.75%, on every transaction |
| ATM fee | 2%, on a $500 daily limit |
| Daily spending limit | $8,000 |
The 1.75% conversion fee is the number that most determines whether this card is worth using; confirm it applies to your specific spending pattern before relying on the 0% FX headline alone.
How it compares to the other cards we've reviewed
| Card | Realistic net value | Custody model | Per-transaction fee | Region |
|---|---|---|---|---|
| 1inch Card | Positive with BXX only; negative with BTC/USDT | Custodial (Baanx) | 1.75% conversion | UK & EEA only |
| Holyheld Card | ~0.5% realistic | Non-custodial, wallet-linked | ~0.5% (EUR) | 30 EEA countries |
| Wirex Multicurrency Card | ~0.5% realistic | Custodial | Variable spread | UK, NZ, HK, Taiwan (crypto) |
| Gnosis Pay | 1%-5% GNO | On-chain verifiable Safe wallet | 0.2%-0.4% spread | EEA, UK, Argentina, Brazil |
| Nexo Card | 0.5%-2% NEXO/BTC | Custodial | Region-dependent | EEA, UK, CH, Andorra |
1inch Card is the only card in this series where a documented, quantified analysis shows the reward mechanism can produce a net loss depending on which option a user picks, a distinct and more serious problem than simply having a low or capped rate.
We don't just want to hand you our number; we want to show you how it sits next to what other review desks and comparison sites have published. Coverage here ranges from neutral listing-style sites to one detailed outlet that repeatedly and specifically calculates the net-loss risk we've highlighted above. No source we found publishes a clean numeric star rating, so every entry is our conversion of that outlet's published verdict, clearly flagged as an estimate.
Our score lands modestly below the aggregated industry average; several listing-style comparison sites present the "2% cashback, 0% FX" headline at face value without emphasizing how the 1.75% conversion fee changes the real math, the way the most detailed outlet we found does. We weight the custody/brand-confusion issue and the net-loss risk on two of the three reward options more heavily than most sites do.
| Source | Score | Type |
|---|
Scores compiled by our editorial team from publicly available reviews as of August 2026. "Editorial estimate" means the outlet didn't publish a single numeric score, so we converted their published verdict and sentiment into a comparable 100-point figure. Verify current figures directly with each source before citing them elsewhere.
No, and this is worth understanding clearly. The 1inch Wallet and DEX aggregator are self-custodial, but the card is a separate, fully custodial product. Funds loaded onto the card are held by Baanx, not in your own wallet.
At least one detailed independent review states plainly that cardholders would be unsecured creditors in that scenario. The common recommendation is not to keep more on the card than you plan to spend in the near term.
BXX, based on the math independent reviewers have calculated. At 2% cashback, BXX can produce a modest net gain after the 1.75% conversion fee. BTC and USDT only pay 1%, which doesn't cover that same fee, and one detailed calculation shows this produces a real net loss at typical spending levels.
Yes, these are two separate charges. The 0% FX fee applies to currency conversion specifically; the 1.75% fee applies to converting your crypto balance to fiat at the point of every transaction, regardless of currency.
It's an interest-free crypto-backed credit feature offered alongside the card. Specific terms, limits, and mechanics are thinly documented in the sources we reviewed; confirm current details directly before relying on it.
No, it's limited to UK and EEA residents, roughly 31 countries. There's no US availability.
Independent trackers do group it among the faster verification processes in this category, roughly 2 minutes, alongside RedotPay, KAST, MetaMask Virtual, and Bleap. This is a genuine, real onboarding advantage.
Baanx, an FCA-regulated UK fintech, operates the card via its Crypto Life platform, with Monavate serving as the card issuer. This is a real, active regulatory structure, even though the funds themselves remain custodial.
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