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Crypto cards with a trading desk built into the app
Of the 138 cards obtainable today, 9 made this list: the app you install for the card must let you open a leveraged position itself — not link out to an exchange, not lend against your crypto, not sell you tokenised shares at 1:1. Screened August 4, 2026.
A card app and a trading venue used to be two products: one spent your crypto, the other was where you traded it. 9 of the 138 cards you can get today put both behind one login. The card app opens a position with leverage, and on one of them it does so against the same wallet the card spends from.
The short version, if you only read one thing:
- Check which pot your money is in. One card runs a single wallet for spending and collateral. 5 keep them apart and say so. On the last 3 nobody has written down which it is. That decides how far a bad position can reach.
- The brand on the app is not the venue. 7 of 9 execute on Hyperliquid. Using three different card apps does not spread that risk.
- Two country lists, not one. The card and the desk ship to different places, in both directions.
- One is regulated as a broker, and it is not the one you would guess: Revolut, trading CFDs at 1:5 on single stocks under a Bank of Lithuania licence.
Some card buttons below go to affiliate partners, and we may earn a commission if you sign up. Rankings come from our public scoring formula either way — read our editorial disclosure. Two of the nine cards here are affiliate partners — Hyperbeat, which is the card this page discusses at most length, and Tria, which the author also holds. The other seven pay us nothing.
Risk, plainly. Leverage loses money faster than it makes it, and this page is not advice to trade. A card appearing here is a description of what the app contains, not a suggestion to use it. On the on-chain desks there is no negative-balance protection and no compensation scheme: if a position is liquidated, the collateral is gone and there is nobody to appeal to. On one of these cards that collateral sits in the same wallet the card spends from. And the scope limit that matters: we have read every one of these desks and traded on none of them, so what follows is what the issuers document, not what we watched happen to our own money.
The question that actually matters
Several of these apps advertise the same thing — trade and spend from one account — and on 5 of the 9 the issuer’s own documents say otherwise. The tell is in the docs, not the landing page: a minimum deposit to open the trading account. MetaMask asks $10 into a Hyperliquid account. Coin98 wants 5 USDC in a dedicated futures account. Tria asks $10. Based does not publish a figure but says the two wallets cannot be converted at all. A transfer step is the architecture admitting itself.
Which pot the money sits in decides what happens on your worst day. Where the issuer documents two pots, a liquidation costs you what you deliberately moved into margin and the card keeps working. With one wallet behind both, that separation does not exist to protect you. And on three of these cards the issuer documents neither, which is a third answer worth knowing before you fund one.
The 5 that keep them apart, and 3 that do not say
The ring-fenced shape is “one app, two accounts”, and ring-fenced is not safe: the margin you moved can still go to zero, and on an on-chain desk a wick can liquidate you with nobody to appeal to. What the fence buys is that the loss stops at the money you moved. It is worth separating two things that look identical in a table, though. On 5 cards the issuer states the split — Based Card, Tria Card, MetaMask Card, Coin98 Fusion Card, Revolut Card. On 3 — Ledger Card, xPortal Card, Jupiter Card — the app clearly has two places money can sit, and no published document says the card balance is out of reach of a liquidation. That is not the same claim, so the table says which is which. Separate pots also do not mean self-custodied pots: Coin98 says its card balance is held by the issuer, and Ledger does not say where its card balance sits at all.
| Card | Split | What it trades | Leverage | Executes on |
|---|---|---|---|---|
| Based Card | Issuer states it | Perpetuals and spot on Hyperliquid, plus prediction markets via Polymarket | Up to 40x across 100+ assets, ranging from 3x depending on the asset | Hyperliquid |
| Tria Card | Issuer states it | Perpetual futures. Tria publishes no pair count for either venue | Up to 40x on Decibel, which is the only ceiling Tria publishes; nothing is published for the Hyperliquid route | Decibel (Aptos) and Hyperliquid |
| MetaMask Card | Issuer states it | Perpetual futures | Up to 50x. MetaMask says the exact limit varies by market and liquidity, and publishes no per-asset ladder | Hyperliquid |
| Coin98 Fusion Card | Issuer states it | Perpetual futures on supported crypto pairs. Coin98 publishes no market count | 1x floor and default. The maximum is per token and Coin98 publishes one example of it: up to 40x on BTC | Hyperliquid |
| Revolut Card | Issuer states it | CFDs on stocks, indices and commodities. No perpetuals, no options, no listed futures | Rates Revolut says it generally offers: 1:20 on major indices and on gold, 1:10 on other commodities, 1:5 on stocks | Revolut Securities Europe UAB, its own brokerage, authorised by the Bank of Lithuania |
| Ledger Card | Not stated | Perpetual futures, long or short. Ledger publishes no order-type or market list for the wallet screen | Not published. Ledger states no ceiling on any page we could read | Hyperliquid, routed through Yield.xyz PerpsKit |
| xPortal Card | Not stated | Perpetual futures with funding fees and TP/SL | Up to 40x, USDC-margined | Hyperliquid |
| Jupiter Card | Not stated | Perpetual futures on SOL, ETH and wBTC, collateralised by the JLP pool | Up to 250x, far the highest ceiling in this group; Jupiter publishes a 1.1x floor and no per-asset ladder | Jupiter Perps, its own on-chain program on Solana |
Two of these deserve a sentence of their own. Ledger publishes no leverage ceiling anywhere we could find, which is unusual in a group where everyone else leads with a multiple, and its card is provided by Baanx while the wallet stays self-custodial. And Revolut is not a crypto desk at all — it trades CFDs on stocks, indices and commodities through a brokerage authorised by the Bank of Lithuania, at 1:5 on single stocks. It is also the only entry where a rule stops the account going negative — and being a licence condition rather than a promise the firm wrote itself makes it stronger, not weaker.
Who is behind the order book
7 of these 9 cards are interfaces onto Hyperliquid, so two of them chosen at random are more likely than not to be the same market twice. That is the finding from our research on trading-desk concentration, and it is the same shape as the BIN-sponsor concentration we mapped in June: many consumer brands, one entity underneath, a failure mode nobody prices until it fires. This one has fired — a validator vote force-settled every open position in one market in March 2025, and the first cross-margin auto-deleveraging closed profitable positions that October.
The practical consequence is narrow but real. If you hold two of these cards because you like having a backup, the trading half of that backup is not independent — as payment cards they are two issuers and two networks, but the positions sit in one place. An outage or a forced settlement at the venue reaches both at the same moment, and neither app is in a position to do anything about it.
Where the desk is blocked
A card’s country list and its desk’s country list are different documents, and comparison pages routinely quote the first as if it covered both. Three cases, two from this group and one that failed on exactly this test:
- Ledger — card available in the US and UK; desk excludes the US, UK, France, Belgium and Ontario. A UK holder gets a card and no trading.
- Phantom — the extreme case, and the reason it is not on this list. The card ships in the US only, minus New York; the desk is available everywhere except the US and UK. No cardholder can reach it.
- Revolut — CFDs are EEA-only, so a UK cardholder gets the card and no CFD account.
Cards people expect to find here
Three groups get proposed for this list and none of them belongs, for reasons that recur in other people’s roundups. A fourth set of cards sits closer to the line, and two of those are on the list.
Exchange cards. Bybit, OKX, Binance, Kraken, Gate, KuCard, MEXC and the rest are issued by companies whose main business is derivatives. Of course the desk is there. The card is an accessory bolted to a trading account, which is the opposite of what this page tracks. We do not publish a count for this group: nothing in our database records issuer type, so any number would be a brand-name guess wearing a decimal point.
Borrowing against crypto. Six cards let you draw stablecoins against a crypto position to fund spending — Ether.fi Cash, Exa, Xplace, RedotPay, Busha and Wirex. The word “leverage” appears near all of them. A loan opens no position and changes no exposure; it is a genuinely useful feature and a different product.
Tokenised shares. Nine cards put equities, indices, ETFs or metals inside the app. None offers leverage on them: Fasset states outright that margin is unavailable, Uphold publishes leverage fixed at 1:1. Owning a tokenised share is ownership, not a derivative.
The near-misses worth naming. Bitget and BloFin both issue their cards from self-custody wallet apps that carry a perp desk, and are cut because the parent is a centralised exchange — a judgement call, and we say so. Phantom was on this list until we compared the two country lists and found they share nothing. Jupiter stays, though not for the reason you would expect from its store listing: that listing names the card and the cashback and never once says perp, leverage or futures, and the desk turns up in the documentation instead. A store listing lags the app. The full rejection list is in the research.
The three shapes, if you want to read one card page
Hyperbeat CardThe single-wallet design: card spending and trading margin defined against the same wallet. The risk section above applies to this one most.Tria CardThe two-venue design: Decibel and Hyperliquid, with the trading pot kept apart from the card.Revolut CardThe regulated design: CFDs at 1:5 on single stocks, negative-balance protection, EEA only, and no crypto perps at all.
Bottom Line
If you want the desk and the card in one place, ask three questions in this order. Does a liquidation reach the balance I spend from? Is the desk available where I actually live? And what does holding a position cost? The first two eliminate most of the group for most people. The third is the one nobody advertises: on Hyperliquid, which is where seven of these nine execute, fees start at 0.045% taker and funding is charged every hour, and the liquidation threshold behind a 40x ceiling is a 1.25% move. All three matter more than the ceiling on the front page, which describes the best-supported market rather than the one you will trade.
And if you hold more than one of these for redundancy, look up which venue each uses before assuming you have any. Right now the answer is usually the same venue.
Frequently Asked Questions
Hyperbeat, and only Hyperbeat, states it. Five other cards state the opposite — the balances are separate — and three of those five give it away with a minimum deposit to open the trading account: money that has to be moved was never in one place. Based says it outright instead: its own FAQ answers that card and trading wallets are separate and cannot be converted. On the last three, Ledger, xPortal and Jupiter, nobody has published which it is, so do not read them as safe.
On five of the eight cards with two balances the issuer documents the split itself — usually with a minimum deposit into the trading account — and there a bad position costs you the margin you deposited and leaves the card balance alone. On three of them, Ledger, xPortal and Jupiter, nothing published says the card balance is out of reach; that is unestablished rather than safe. Hyperbeat is the one where both sit in the same wallet, so the question is live, though even there the issuer stops short of saying a liquidation reaches the card, because the card credit and the trading margin sit in different protocols. Check which shape you are buying before you fund anything.
Hyperliquid, on seven of the nine, whatever the app is called on your phone. Ledger routes through Yield.xyz, Tria offers Decibel alongside it, and the rest embed Hyperliquid directly. Two trade on their own book: Jupiter, on its own Solana program, and Revolut, through its licensed brokerage. We wrote the concentration up separately because it changes what "diversifying across apps" means.
Not necessarily both. Ledger sells the card in the UK and blocks its desk there, along with the US, France, Belgium and Ontario. Revolut CFDs are EEA-only. Phantom is the reason this question is on the page at all: its card ships only in the US and its desk is blocked in the US, so the two lists share nothing and it is not on this list. Check both before you commit.
One. Revolut trades CFDs through Revolut Securities Europe UAB, authorised by the Bank of Lithuania, which means low published leverage — 1:5 on single stocks — and a margin-close-out rule its own terms page describes as making sure the account does not fall into a negative balance. That is a retail-client rule rather than a product promise. The eight on-chain desks have no equivalent regime and no compensation scheme, and the seven that publish a ceiling run from 40x to 250x — different instruments, so read those as ceilings and not as a multiple of the CFD rate.
No, and six cards get mistaken for this list because of it. Ether.fi Cash, Exa, Xplace, RedotPay, Busha and Wirex all let you borrow against crypto to fund card spending, and the copy around it uses words like leverage and credit line. A loan opens no position: your exposure to the collateral is exactly what it was before. Useful feature, different product.
Sources & references
Every claim above is grounded in a primary source, and for this guide they are all issuer product pages, documentation and help centres — no regulator publishes what is inside a wallet app. Each was read on 4 August 2026 and re-read twice since, both times by someone who had not seen the previous read, and both re-reads changed rows. If a number looks wrong, start here.
- Hyperbeat — product overview — HyperbeatSource of the quote above. The shared-wallet claim comes from the terms, which define card spending and perp trading against the same Pay Wallet.
- MetaMask Perps — MetaMaskThe 50x ceiling and the Hyperliquid routing. MetaMask publishes no per-asset ladder — its FAQ says the limit varies by market.
- Perpetual trading in Ledger Wallet — LedgerDesk features and the jurisdictions excluded from it.
- Futures trading inside Tria with Decibel — TriaSecond venue alongside the Hyperliquid route.
- CFD terms and definitions — RevolutThe only regulated desk in the group. Leverage rates, the entity that holds the licence, and the margin-close-out rule that keeps the account out of a negative balance.
- Can I convert my card portfolio into my trading wallet? — BasedThe answer that moved this card out of the shared-balance column: card and trading wallets are separate and cannot be converted.
- Based Web Terminal — BasedThe leverage range and asset count: 3x to 40x across 100+ assets.
- How to trade futures — Coin98The 1x floor, the one published per-token ceiling (40x on BTC), and the dedicated futures account with its 5 USDC minimum. Coin98 publishes no market count anywhere on it.
- Trading perps in xPortal, powered by Hyperliquid — xPortalThe 40x ceiling and USDC margin, which the blog post announcing the feature does not carry.
- Jupiter Perps parameters — JupiterThe 250x maximum, published as a table row rather than a sentence.
- Fees, funding and liquidations — HyperliquidWhat a position costs on the venue seven of these nine execute on: the 0.045% / 0.015% base tier, hourly funding, and the maintenance-margin and auto-deleveraging rules behind the leverage ceilings.
- Delisting: what happens to open positions — HyperliquidThe rule behind the March 2025 JELLY settlement: when validators delist an asset, all positions are settled and open orders cancelled, whatever the holder intended.
- Incident history — HyperliquidThe venue's own outage log, including the 37-minute order-routing failure on 29 July 2025.
- How we test — SweepbaseWhat we verify first-hand and what comes from issuer documentation.