topic Re: Aven Launches Bitcoin Backed Card in Credit Cards

Aven Launches Bitcoin Backed Card

ptatohed — Sat, 09 May 2026 07:57:43 GMT

I can't see any notable benefits to this card but, as a MF'er, our duty is to present new cards to the group, as we see them pop up, right?

https://www.aven.com/bitcoin-visa-card

Seems similar to the HELOC Aven card which is backed by your home equity, but this card is backed by your Bitcoin (held with BitGo Bank & Trust).

No annual fee
Card earns 2% cash back
APR of 7.99% – 14.99% (Depending on how much BTC you have with BitGo)
Credit limits up to $1,000,000
Fixed repayment terms up to 10 years

Again, not seeing anything totally special about this card (except maybe the 7.99% rate and high limits and fixed repayment terms (if that's something you need, and you have a lot of BTC you don't want to sell?)?), but just thought I'd report.

Re: Aven Launches Bitcoin Backed Card

DXness — Sat, 09 May 2026 19:22:44 GMT

There's an obvious major downside to this card - it's still just a typical volatile asset-backed loan with all the manual management headaches of one. You choose a loan-to-value ratio at origination and then must manually/actively maintain it. If your LTV rises above 70%, your account is locked, if 80% you'll actually get margin-called and have 72 hours to deal with it or face forced liquidation of principle down to whatever your chosen LTV was. To add insult to injury, there is a 1% fee for partial and 2% fee for full liquidations, which could also be taxable events. If your LTV ever reaches 85%, your account will immediately be closed and fully liquidated. Yikes! Late payments and defaults are also handled with partial/full liquidations. There's also a 1% fee for voluntarily cashing out pledged collateral. The 2% rewards are not in BTC, but as statement credits.

Now, this kind of thing is common knowledge in that world. But, if anyone is looking at this through a typical set it and forget it credit card lens...don't lol. This thing is NOT like the other "crypto credit cards" that are otherwise just normal unsecured cards. A person's ability to even keep using this card on a daily basis depends on their ability to manage its collateral.

Re: Aven Launches Bitcoin Backed Card

Varsity_Lu — Sat, 09 May 2026 21:11:31 GMT

@DXness wrote:
There's an obvious major downside to this card - it's still just a typical volatile asset-backed loan with all the manual management headaches of one. You choose a loan-to-value ratio at origination and then must manually/actively maintain it. If your LTV rises above 70%, your account is locked, if 80% you'll actually get margin-called and have 72 hours to deal with it or face forced liquidation of principle down to whatever your chosen LTV was. To add insult to injury, there is a 1% fee for partial and 2% fee for full liquidations, which could also be taxable events. If your LTV ever reaches 85%, your account will immediately be closed and fully liquidated. Yikes! Late payments and defaults are also handled with partial/full liquidations. There's also a 1% fee for voluntarily cashing out pledged collateral. The 2% rewards are not in BTC, but as statement credits.

Now, this kind of thing is common knowledge in that world. But, if anyone is looking at this through a typical set it and forget it credit card lens...don't lol. This thing is NOT like the other "crypto credit cards" that are otherwise just normal unsecured cards. A person's ability to even keep using this card on a daily basis depends on their ability to manage its collateral.

So, if I understand this correctly, 2 out of the 3 cards that Aven offers are secured cards: one with your home, and this one with your crypto assets. Well, technically their other card is secured by the stuff you buy with it, but they really can't repo it. Is this correct?

Re: Aven Launches Bitcoin Backed Card

ElvisCaprice — Sat, 09 May 2026 21:48:41 GMT

@Varsity_Lu wrote:
So, if I understand this correctly, 2 out of the 3 cards that Aven offers are secured cards: one with your home, and this one with your crypto assets. Well, technically their other card is secured by the stuff you buy with it, but they really can't repo it. Is this correct?

Sure they can! Come get that cheezburger, anytime!