When choosing a crypto rewards card, one fundamental decision is what cryptocurrency to earn. Cards like Fold offer pure Bitcoin rewards, while the Gemini Credit Card lets you choose from 50+ cryptocurrencies. Which approach is better for building wealth?

This decision reflects broader debates in the crypto community between Bitcoin maximalism and diversification. Let's examine both approaches with data and logic to help you decide.

The Bitcoin Maximalist Case

Bitcoin maximalists argue that BTC is the only cryptocurrency worth holding. Their reasoning includes several compelling points:

Network effects and first-mover advantage: Bitcoin was first, has the most recognition, and has the largest network of users, holders, and infrastructure. This network effect creates a moat that's difficult for competitors to overcome.

Store of value narrative: Bitcoin has increasingly been adopted as "digital gold" by institutions and governments. This narrative gains strength as more entities add Bitcoin to their treasuries.

Limited supply: With only 21 million Bitcoin ever to exist and predictable halving events reducing new supply, Bitcoin has the strongest scarcity properties in crypto.

Security and decentralization: Bitcoin's proof-of-work network is the most secure and decentralized. It's never been successfully attacked despite enormous incentives to do so.

Regulatory clarity: Bitcoin has the clearest regulatory status as a commodity in most jurisdictions. Other cryptocurrencies face more regulatory uncertainty.

For these believers, earning anything other than Bitcoin is a distraction or worse. The Fold Card is designed specifically for this philosophy, offering pure Bitcoin rewards with no altcoin options.

The Diversification Case

Others argue that diversifying across multiple cryptocurrencies offers advantages:

Risk reduction: While Bitcoin has been the most successful cryptocurrency, there's no guarantee it will remain dominant. Diversification hedges against the risk of any single project failing or being superseded.

Exposure to innovation: Different cryptocurrencies serve different purposes. Ethereum enables smart contracts and DeFi. Solana offers high-speed transactions. By holding multiple cryptocurrencies, you participate in various technological innovations.

Potential higher returns: Historically, some altcoins have dramatically outperformed Bitcoin during bull markets. A diversified portfolio might capture these gains.

Utility across ecosystems: If you use DeFi applications on Ethereum or NFTs on various chains, holding those native tokens provides utility beyond speculation.

Cards like the Gemini Credit Card support this approach by offering 50+ cryptocurrency options for rewards.

Historical Performance Analysis

Let's look at actual historical data. If you started earning crypto rewards in January 2020 and held until January 2025:

Bitcoin: $100 of BTC rewards in January 2020 would be worth approximately $500-600 by early 2025, representing 5-6x returns.

Ethereum: $100 of ETH rewards would be worth approximately $600-800, slightly outperforming Bitcoin in this period.

Other altcoins: Results vary dramatically. Some altcoins returned 10x or more, while others went to near zero. The average altcoin significantly underperformed Bitcoin.

This data suggests that while specific altcoins can outperform Bitcoin, picking winners is difficult. A strategy of consistently earning Bitcoin would have delivered excellent returns without requiring market timing or selection skill.

Risk Considerations

Risk profiles differ significantly between approaches:

Bitcoin-only risk: Your entire crypto position depends on Bitcoin's success. If something catastrophic happened to Bitcoin (which seems unlikely but isn't impossible), you'd have no hedge.

Diversified risk: You spread exposure across multiple projects. However, most altcoins are highly correlated with Bitcoin anyway, so diversification provides less protection than you might expect. During market crashes, almost everything falls together.

Interestingly, holding Bitcoin might actually be less risky than holding altcoins despite not being diversified. Bitcoin has the longest track record, most institutional adoption, and clearest regulatory status. Many altcoins have failed entirely, while Bitcoin has survived every challenge.

The Tax Angle

From a tax perspective, Bitcoin-only simplifies things:

With a single cryptocurrency, tracking cost basis and calculating gains is straightforward. With multiple cryptocurrencies, you need to track each one separately, complicating tax preparation.

If you're earning small amounts across many different cryptocurrencies, the record-keeping burden increases significantly. Some people prefer Bitcoin-only specifically for this administrative simplicity.

Platform Token Rewards

Some cards pay rewards in proprietary platform tokens like CRO (Crypto.com) or WXT (Wirex). These deserve special consideration:

Advantages: These cards often offer higher headline reward rates when paid in platform tokens. You might get 5% in CRO versus 2% in Bitcoin.

Disadvantages: Platform tokens have limited use cases outside their ecosystems. Their value is tied to the success of a specific company rather than broader crypto adoption. If Crypto.com struggles, CRO likely falls regardless of overall crypto market conditions.

Historically, many platform tokens have significantly underperformed Bitcoin and Ethereum. The higher headline rate often doesn't compensate for worse price performance.

What the Experts Say

Professional investors and crypto veterans offer varied perspectives:

Many successful crypto investors are Bitcoin-only, arguing that concentration in the best asset beats diversification into inferior ones. They point out that most altcoins have failed over time.

Others maintain diversified portfolios, arguing that the crypto space is still young and unpredictable. They prefer small positions across many projects to capture potential winners.

A middle-ground approach holds majority Bitcoin with smaller positions in select altcoins like Ethereum. This provides some diversification while maintaining Bitcoin as the core holding.

Practical Considerations

Beyond philosophy, practical factors matter:

Simplicity: Bitcoin-only is simpler to manage. One asset, one wallet, one set of keys. Diversification requires managing multiple assets across potentially multiple platforms.

Card options: If you strongly prefer Bitcoin-only, the Fold Card is purpose-built for you. If you want diversification, cards like Gemini offer extensive options.

DCA considerations: Earning rewards is a form of dollar-cost averaging. With Bitcoin-only, you're consistently accumulating BTC. With diversified rewards, you're accumulating various assets at whatever allocations you choose.

Our Recommendation

For most crypto card users in 2026, we suggest one of two approaches:

Option 1: Bitcoin focus

Earn all rewards in Bitcoin using a card like Fold or by selecting Bitcoin on multi-crypto cards. This approach benefits from simplicity, Bitcoin's strong track record, and the "digital gold" narrative that continues to gain mainstream acceptance.

Option 2: Bitcoin-heavy with Ethereum

Earn primarily Bitcoin (70-80%) with some Ethereum (20-30%). This provides slight diversification into the second-most established cryptocurrency while maintaining Bitcoin as the core holding. The Gemini Credit Card makes this easy by letting you choose your reward currency.

We'd caution against heavily diversifying into many altcoins or platform tokens through rewards. The track record of most altcoins is poor, and the complexity isn't worth it for most users.

Making Your Decision

Consider these questions:

1. Do you have strong conviction about Bitcoin specifically? If yes, go Bitcoin-only.
2. Do you use other blockchain ecosystems actively? If yes, consider earning those native tokens.
3. How much complexity can you manage? More assets mean more tracking.
4. What's your investment horizon? Longer horizons favor Bitcoin's established position.

There's no universally correct answer. Both approaches can work well depending on your beliefs, goals, and preferences.

Ready to start earning crypto rewards? Compare the best crypto cards and choose the one that fits your cryptocurrency philosophy.