Foxbit card review: spending crypto balance in reais

Updated October 2026

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Available in US

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If you are reading this, you are probably in a specific position: you have crypto, you want to spend it like ordinary money, and ordinary bank cards have not been easy to get where you are. That is the situation the Foxbit card is aimed at, and the audience note fits neatly — Foxbit clients in Brazil spending crypto in reais. It is a real Mastercard with real cashback, but it is a Brazilian product for Brazilian account holders, and it arrives before some of the things you would want to have read in it. I scored it 5.6 out of 10. Read on for where that number comes from, and check the section that matches your situation.

The conditions described here are current as of October 28, 2026.

Verdict: 5.6 out of 10, and who that suits

The score is not a shrug. It is a card that does one thing reasonably well — turning a crypto balance into everyday spending inside Brazil — inside a wrapper that leaves several things unsaid. On cost it scores well above average. On who can get it, it scores badly, because the door is narrow and the doorframe is Brazilian. On everyday use it scores well, because Mastercard plus Apple Pay and Google Pay is exactly what a daily card needs to be. Everything between those ends is middling.

Who it suits. You already hold money on Foxbit, you live in Brazil, you are an individual rather than a company, and you want to pay for things in reais without moving funds to a bank account first. If that is you, the card is worth turning on — the fee structure is genuinely cheap and the cashback is real.

Who it does not suit. Anyone outside Brazil, anyone holding a business account, anyone who plans to lean on the card as their only payment instrument, and anyone whose main worry is protecting crypto balances. On that last point: the card’s own page says crypto balances are not covered by FGC, the Brazilian deposit guarantee scheme, and the company says it will file for Central Bank authorisation as a PSAV — a virtual asset service provider — meaning it has not done so yet. If a custodian failure is the thing keeping you up at night, a card that spends from that custodian is the wrong instrument to hold more of it in.

One more thing to weigh before you read further. The card page contradicts itself about whether this is a prepaid card or a card with a credit function, and it does not say whether you get a physical card, a virtual one, or both. That is not a small detail; it changes how quickly you can start spending. I found nothing on the page that resolves it.

Will they give you the card?

Short answer: if you are not already a Brazilian Foxbit client, this is not your card. The requirement is explicit — the card is released only to individuals, and only to clients of the Brazilian exchange Foxbit. No other country is named anywhere on the page. There is no residency questionnaire in front of you; the gate is simply whether the exchange already knows you.

That cuts both ways, and you should sit with both halves. If you are already verified on Foxbit, the hardest step is behind you. If you are not, then this review is mostly irrelevant to you, and the alternatives at the bottom of this page cover more ground.

There are two account levels, and they matter for what you can fund the card with. A simplified account carries a monthly limit of R$ 5,000 in BRL and does not allow crypto transfers at all. A verified account allows up to R$ 75,000 in monthly deposits and up to R$ 300,000 in monthly BRL withdrawals, with crypto withdrawal limits described as personalised. The documents you need and how long each level takes are not stated on the card pages.

How to get it

The route is short on paper: free sign-up at the Foxbit app site, then a “Solicitar meu cartão” request. The page does not describe the KYC process, and the minimum age is not stated — note that prepaid and debit cards in this category are generally available to adults, and some issuers set higher limits, so treat age as something you confirm rather than assume.

That is genuinely all the published process amounts to. No documents list, no waiting time, no eligibility checker, no statement of what makes a request fail.

The card is a Mastercard, denominated in BRL, and the page mentions tap, insert and swipe plus online payments. Beyond that it will not commit: virtual or physical is not specified, and as I noted above, the prepaid versus credit-function description is inconsistent from one part of the page to another. Delivery terms are not stated — no shipping window, no fee, no international option. If a physical card in the post matters to you, that is a question to ask the exchange directly before you apply.

Fees: what it really costs

This is the strongest part of the card, and the reason the cost criterion scores 7. Issuance is free, the annual fee is R$ 0.00, the monthly fee is R$ 0.00. Crypto transactions are charged at 0.0%, though the page warns the final price may vary with liquidity.

The line I would read twice is the 6% “IOF + taxa de câmbio” on the fee page. What it applies to is not stated. That matters a great deal: a 6% charge on every conversion is a very different product from a 6% charge on some subset of transactions. Treat it as unknown until you see it on a real statement.

Two everyday payments, so the numbers become concrete:

A coffee in reais, paid from your Foxbit balance. The card is BRL and crypto spending is converted to BRL. Conversion fees apply and their values are not on the card page; the 0.0% crypto transaction rate and the 6% line sit somewhere in this path, and since the page does not say which of them bites, you cannot total it from what is published. Cashback applies only if you pay in crypto — see the daily-use section.

A withdrawal from a Brazilian ATM. R$ 6.90, on the Cirrus and Caixa 24hrs network. That is the one clean, fully quoted figure on the card.

How to top it up

Top-up is two steps, not one: deposit BRL by Pix into Foxbit, then buy crypto, which lands in your exchange balance for the card to spend. The coins listed are BTC, ETH, USDT, XRP and ADA, and you choose the default one in the app. You can also pay in BRL directly, but then you earn no cashback.

The account limits from the earlier section apply here. On a simplified account you are inside R$ 5,000 monthly for BRL deposits and withdrawals, with no crypto deposits or withdrawals. On a verified account you have up to R$ 75,000 monthly in deposits and R$ 300,000 monthly in BRL withdrawals, with crypto withdrawal limits personalised.

Two honest gaps. The networks are not named — so if you ever want to move USDT in from elsewhere, you do not learn from this page which chain to pick, and a transfer on the wrong network is one of the few ways to lose money irreversibly. And when I looked at the deposit and withdrawal fee table, it was showing “Carregando taxas…” with no values loaded. Withdrawal of the card balance itself is not stated; the menu links to a Pix deposit and withdrawal page without detail, and account closure terms are not stated either.

Paying with it every day

Everyday use is where this card is at its best, and the 8 out of 10 is deserved. It is a Mastercard, so it works in the ordinary terminal, and it is compatible with Apple Pay and Google Pay — which, in practice, is how most people will use it. For someone whose problem is that an ordinary card is hard to get, a card that lives in the phone wallet is a meaningful answer.

Cashback, which is tied to how you pay. Cashback only comes on purchases paid in crypto. Up to R$ 999.99 of monthly spend earns 0%. From R$ 1,000 to R$ 2,999.99 earns 0.5%. Over R$ 3,000 earns 1%. It is credited in the same crypto to your Foxbit wallet, so the reward arrives as an asset whose price moves, not as reais. There is a single card and no paid tiers — the only bands are these spend thresholds.

Blocked merchants. Not stated. That is worth pressing on if gambling or similar categories matter to you, because a gambling merchant code is a common issuer-level block, and the blocked list is policy rather than law and varies by issuer.

The app. iOS and Android. On the Brazilian App Store listing the app scored 4.4 out of 5 from about 5.6 thousand ratings, read on 2026-10-20, requiring iPhone iOS 16.0+ and supporting Apple Watch. The Google Play rating I did not read, so I will not guess at it.

Disputes. Not stated. Nothing on the page tells you how a chargeback would be handled, who would raise it, or on what timeline. If a purchase goes wrong, you are improvising.

What can go wrong

Nothing has gone publicly wrong with the card itself that I could find. The complaints are about the exchange underneath it.

Reclame Aqui — the Brazilian consumer complaint platform — showed 7.9 out of 10, with 250 complaints between January and June 2026 and 88.1% of them resolved. The recurring themes: held Pix and BRL withdrawals, difficulty withdrawing bitcoin, and delays on account email changes leading to lost access. No card-specific complaints surfaced. No official incidents surfaced either.

A smaller, older signal: a Trustpilot user report read on 2026-10-20 showed 2.8 out of 5 from only three reviews, none in the last twelve months. The specific cases were an ETH withdrawal refused in October 2025 and an RG identity document not accepted for KYC in February 2022. Three reviews is not a sample; read it as a pointer to where the pain is, not as a rate.

The company. Foxbit Sociedade Prestadora de Serviços de Ativos Virtuais Ltda., CNPJ 21.246.584/0001-50, in Brazil. The card issuer or BIN sponsor is not named on the official page, and the company says it intends to file for Central Bank authorisation as a PSAV. Unofficial sources — Startups.com.br and a LatamFintech article on Pomelo and Foxbit Card, with no dates shown — identify the issuer as the Argentine Pomelo. I did not confirm that against the card’s own pages, and neither did they appear to date it.

What is not protected. Crypto balances are not covered by FGC. That is the single line I would put in front of anyone who is about to move a meaningful sum onto this exchange to spend from it.

Security. The page says Foxbit never asks for your password or a 2FA code. Card freeze and spending controls are not described. What that first sentence is protecting you from is the classic impersonation script: a caller or a message claiming to be support, asking for a code. Never read that code aloud to anyone who contacted you.

Support. A help centre and a contact page exist. Beyond that, not stated — no response times, no stated office hours.

Wider context, so you are not surprised by anything. Stablecoins are not necessarily stable: TerraUSD collapsed in May 2022 and USDC briefly lost its peg in March 2023. On-chain transfers are irreversible, so a deposit on a network the provider does not support can be lost with no guaranteed recovery. On Ethereum, gas is paid only in ETH, so a wallet holding USDT with no ETH cannot send. Tether says it disables tokens in wallets on the OFAC sanctions list and has frozen funds tied to illicit activity. Declined payments can leave a hold on your money for several days, typically up to seven. And card programmes do close: WaveCrest was suspended by Visa in Europe in 2018, closing all WaveCrest-issued Visa programmes; Visa terminated its global agreements with FTX on 13 November 2022 and the FTX US debit card was wound down by its issuer. Closures typically give notice, then stop spending and loading, then ask you to withdraw. None of that is a prediction about Foxbit. It is the shape of the category you are putting money into.

What to take instead

If the Foxbit card does not fit — wrong country, no exchange account, or you want more published detail — here is how the other options compare, and honestly, how thin the public information on all of them is.

Bybit is the one with real published depth, and if you are outside Brazil it is worth reading carefully, because it names what Foxbit does not. It states which regions it serves, that the application asks for your country of residence, and that if your country is not supported it will register your interest rather than issue. It spells out that the product is not meant for European Economic Area customers and that all European Economic Area participation is strictly prohibited. On its fiat-service restricted list it names Belarus, the Russian Federation, Serbia, China and the United States, and says Russian users can only make RUB transactions in fiat. On citizenship specifically — as distinct from residence — I found no card-specific statement and no rule tying the two together, so do not read a residence answer as a citizenship answer.

Its rewards structure is also the most developed here: from 2026-10-05 10:00 UTC, only crypto-funded transactions earn points or cashback, with tiers from Base at 2.00% up to Infinite at 10%, each with its own monthly cashback cap and monthly spend to unlock. That design — the reward depends on how you fund the purchase — is exactly the design Foxbit uses too, just at a smaller scale.

MEXC is the opposite trade: virtual only, physical not yet available, network and currency not stated, and a 20 USD issuance figure shown next to a discounted 0 USD price in a way I would not try to interpret. MSX scored highest of the three at 6.4, but I could not read a single fact about it on an official page — eligibility, card, fees, funding and rewards all came back not stated. A higher score with nothing behind it is not obviously better than a lower score you can actually verify.

Who I would recommend it to

I would recommend the Foxbit card to one specific person: someone in Brazil who already uses Foxbit, holds crypto there anyway, pays mostly in reais inside Brazil, and wants cashback for paying in crypto rather than in fiat. For that person the price is right — free to hold, free to issue, 0.0% on crypto transactions — and Apple Pay and Google Pay make it usable without waiting for anything to arrive in the post.

I would not recommend it as your primary card. No published spending limits, no described dispute process, no named issuer, balances outside FGC, a Central Bank filing still in the future, and 6% on a line nobody has explained. Nor as a place to hold money you cannot afford to lose.

And if you are outside Brazil, the honest answer is that this is not your card, and reading further will not change that.

Frequently asked questions

What is the Foxbit card?

It is a Mastercard denominated in Brazilian reais, offered to existing individual clients of the Brazilian crypto exchange Foxbit, that spends a balance held on that exchange. You top up in reais, buy crypto, and the card converts and spends it. The page is inconsistent about whether it is prepaid or carries a credit function, and does not say whether you receive a virtual card, a physical one, or both.

Is Foxbit a bank?

No. Foxbit operates as Foxbit Sociedade Prestadora de Serviços de Ativos Virtuais Ltda., CNPJ 21.246.584/0001-50, a virtual asset service provider in Brazil. Its own page says it intends to file for Central Bank authorisation as a PSAV, so that authorisation is still planned rather than held. Its crypto balances are not covered by FGC.

Who can get the Foxbit card?

Only individuals who are already Foxbit clients — the page says the card is released only to individuals, and no other country is named. So the practical test is whether you hold a Brazilian exchange account. There is no separate eligibility questionnaire, and the minimum age is not stated on the card pages.

How do I apply for the Foxbit card?

Sign-up at the Foxbit app site is free, then you request the card through “Solicitar meu cartão”. That is the whole published process: the KYC steps are not described, no document list is given, and no timing is stated. The card itself is Mastercard in BRL, with Apple Pay and Google Pay compatibility, but virtual versus physical is left unspecified.

What does it cost to hold and use the Foxbit card?

Issuance is free, the annual fee is R$ 0.00 and the monthly fee is R$ 0.00. Crypto transactions are charged at 0.0%, though the final price may vary with liquidity. Conversion fees from crypto to BRL apply but their values are not on the card page, and a 6% “IOF + taxa de câmbio” appears on the fee page without stating what it applies to. A domestic ATM withdrawal costs R$ 6.90.

How do I top up the Foxbit card?

Deposit Brazilian reais by Pix into Foxbit, then buy crypto from BTC, ETH, USDT, XRP or ADA, choosing a default coin in the app. You can also pay in BRL directly, but those purchases earn no cashback. Limits depend on your account level: R$ 5,000 monthly on a simplified account with no crypto transfers, or up to R$ 75,000 monthly in deposits and R$ 300,000 in BRL withdrawals once verified.

Is the Foxbit card safe?

It carries the usual risks of holding funds with a custodian, plus two specific ones. Crypto balances are not covered by FGC, so a platform failure is not a bank failure as far as that guarantee goes. The issuer is not named on the official page, and a 6% charge line is unexplained. The page does state that Foxbit never asks for your password or 2FA code — treat any caller who does as an impersonator.

How do I add the Foxbit card to Apple Wallet?

The card is listed as compatible with Apple Pay and Google Pay, so it can be added to a phone wallet the usual way. Two practical notes. Apple Pay stores a device-specific token in the phone’s Secure Element rather than the card number, and the issuer can restrict a tokenised card by channel. Also, cashback depends on how you pay: only purchases settled in crypto earn it, so paying in BRL directly earns nothing.

Can I use the Foxbit card outside Brazil?

The card is denominated in BRL and issued to Brazilian clients, and I found nothing on the page about international use. Add the general card-category warning: merchants can look up the issuing country from the card’s first digits and apply extra scrutiny when it does not match your billing address, and some decline foreign-issued cards outright. Addresses you type at checkout are also verified mainly in a few countries and often not at all for foreign cards.

Is the Foxbit card worth it?

Worth it if you are already a Brazilian Foxbit client spending crypto in reais, because holding and using it is free and crypto-paid purchases earn up to 1% cashback credited in the same crypto. Not worth treating as your only card: no spending limits are published, no dispute process is described, and your crypto sits outside Brazil’s deposit guarantee. Check what the 6% line covers before you commit real sums.

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