The KGI Bank Coin Enjoy Card stands out as a revolutionary financial product in Taiwan's market. It is the first credit card that allows users to earn points—called "Coin Enjoy Points"—on their everyday purchases and then redeem those points for popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) on partnered exchanges. This innovative approach to rewards bridges the gap between traditional spending and the digital asset ecosystem.
This card has generated significant buzz since its launch, attracting thousands of applicants eager to merge their daily finances with the potential of crypto. This review will break down its features, benefits, and ideal user profile to help you decide if it's the right card for you.
Key Benefits and Rewards Structure
Earn Points and Redeem for Crypto
The core mechanic of the Coin Enjoy Card is straightforward: you earn one "Coin Enjoy Point" for every NT$1 of eligible spending. These points are the gateway to cryptocurrencies.
New Cardholder Bonus: 50% Extra on Crypto Redemptions
To welcome new users, KGI Bank offers a substantial first-year bonus. When you redeem your points for crypto on any of the three partnered exchanges (MAX, BitoPro, or BitstreetX), you get a 50% bonus on the redemption value. This offer is capped at 3,000 extra points (worth NT$3,000) and is limited to the first 3,388 new cardholders. Redemptions must be made in blocks of 300 points.
Competitive Spending Rewards
The card offers a tiered rewards system on all purchases:
- Domestic General Spending: 1% back in Coin Enjoy Points.
- Overseas General Spending: 2% back in Coin Enjoy Points.
- Specified Categories: 3% back on spending at restaurants, gas stations, and gaming platforms like Steam within Taiwan.
- No Foreign Transaction Fees: A major advantage for frequent travelers or overseas shoppers is the waiver of the standard 1.5% foreign transaction fee, making every international purchase more cost-effective.
Additional 4% Bonus with Credit Line Activation
The first 750 cardholders who apply for and activate a cash advance credit line can earn an extra 4% in points on spending within the first three months. This bonus is capped at 400 points per month.
Partner Exchange Welcome Bonuses
By applying for the card through the official campaign, you can also access exclusive sign-up bonuses at the partnered exchanges:
- New Exchange Account Bonus: Deposit any amount into a new account at MAX, BitoPro, or BitstreetX, and you will receive 5 USDT per exchange. You can earn up to 15 USDT by signing up for all three.
- Bank Account Linkage Bonus: Within 120 days of card approval, link your KGI bank account as your deposit/withdrawal account on MAX or BitstreetX and make a deposit to earn 3 USDT. If you use a KGI Karry Digital Account and later convert it to a standard account, you earn an additional 3 USDT, for a total of 6 USDT.
Annual Fee Structure
The Coin Enjoy Card is classified as a KGI Titanium Card. It boasts a $0 annual fee for the first year. This fee is waived for subsequent years simply by opting for electronic statements, making it a truly free card to hold long-term.
How Does It Compare to Other Crypto Cards?
While common abroad, crypto rewards cards are a novelty in Taiwan. Here’s a brief comparison to provide context:
| Feature | KGI Coin Enjoy Card (Taiwan) | Crypto.com Card (Singapore) | RedotPay Card (Hong Kong) | WireX Card (UK) |
|---|---|---|---|---|
| Card Type | Physical | Physical | Physical & Virtual | Physical & Virtual |
| Max Rewards | 7% | 5% | N/A | 8% |
| Foreign Fee | 0% | 1.5% | 2.2%* | 2.99% |
| Annual Fee | $0 | $0 | $0 | $0 |
*RedotPay fee includes a 1.2% non-local currency fee + 1% processing fee.
Note: Offers from international cards can change and may have different eligibility requirements.
Is the KGI Coin Enjoy Card Right for Crypto Enthusiasts?
For individuals already active in the cryptocurrency space, this card is an attractive option. It provides a seamless way to accumulate digital assets through routine spending without requiring active trading. The direct integration with local Taiwanese exchanges (MAX, BitoPro) simplifies the redemption process.
Important Note: The Coin Enjoy Card is a rewards card, not a spending card for your crypto holdings. You cannot use it to directly purchase cryptocurrency, nor can you spend the crypto in your exchange accounts with it. It is solely for earning fiat-based points that are then converted to crypto.
Is the KGI Coin Enjoy Card Right for the General User?
For those with no interest in cryptocurrency, the card's value proposition diminishes. While its base rewards are decent, users who do not wish to navigate cryptocurrency exchanges for redemption would be better served by a traditional cash-back or points card. The process of registering for an exchange and completing identity verification (KYC) can be a significant hurdle for non-crypto users.
The card's true value is unlocked only when you redeem points for crypto. If that is not your goal, other cards on the market might offer simpler, more immediate rewards.
How to Apply for the Card
The application process is identical to that of any standard credit card in Taiwan. You can apply through the official KGI Bank Coin Enjoy Card website. Simply click "Apply Now" and follow the instructions to provide your personal details and submit required financial documents.
How to Redeem Points for Crypto: A Step-by-Step Guide
Redeeming your Coin Enjoy Points for cryptocurrency involves a few key steps:
- Prepare: Register with a Partner Exchange. You must have an account with MAX, BitoPro, or BitstreetX. Ensure your account is fully verified (KYC completed).
- Initiate Redemption via KGI App: Log in to the KGI Mobile Banking app, navigate to your credit card account, and find the "Your Points" section.
- Select Crypto: Choose which cryptocurrency you wish to redeem your points for.
- Confirm and Convert: Enter the amount of points to redeem (in multiples of 300), review the terms, and confirm the transaction. The points will be deducted, and the crypto will be deposited into your designated exchange account.
For a visual, detailed guide on the redemption process, you can explore more strategies available online.
Frequently Asked Questions
Is there a minimum points requirement for redemption? Do points expire?
Yes, you must accumulate a minimum of 300 points to make a redemption, and it must be done in 300-point units. Points are valid for two years from the date they are posted to your account (typically the next business day after your statement is issued).
Which cryptocurrencies can I redeem my points for?
As of the card's launch, you can redeem points for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Can I use this card to buy crypto directly?
No, the card itself cannot be used to purchase cryptocurrency. You can only earn points from spending and then convert those points into crypto through the redemption portal.
Are there any geographical restrictions on using the card?
The card is issued in Taiwan and follows standard Visa/Mastercard acceptance rules. The key benefit is the lack of a foreign transaction fee on international purchases.
What happens if I don't redeem my points within two years?
Any Coin Enjoy Points that are not redeemed within their two-year validity period will expire and be forfeited.
Is my cryptocurrency insured?
The crypto rewards are handled by the partnered exchanges. It is critical to understand that assets held on exchanges are not covered by Taiwan's deposit insurance. You should research the security measures of MAX, BitoPro, or BitstreetX before redeeming points.
Final Verdict: Who Should Apply for the KGI Coin Enjoy Card?
Get this card if:
- You are already familiar with and invested in cryptocurrency.
- You want to passively accumulate Bitcoin or Ethereum through your daily spending.
- You frequently make overseas purchases and want to avoid foreign transaction fees.
- You are comfortable with the process of using a cryptocurrency exchange.
Skip this card if:
- You have no interest in owning or learning about cryptocurrency.
- You prefer simple cash-back rewards or gift vouchers.
- The idea of signing up for a crypto exchange and completing KYC seems daunting.
The KGI Bank Coin Enjoy Card is a groundbreaking product for the Taiwanese market. It successfully caters to a growing demographic of crypto-curious consumers and investors. While its utility for the general public is limited, it sets a strong precedent for the future of financial products that blend traditional banking with the digital asset world.