Beluga Review: EtherFi Cash

The base level of ether.fi Cash offers 2% cashback on every purchase while Luxe and Pinnacle users are eligible to receive 3%. The card is available to users around the world excluding OFAC sanctioned countries, which is a huge bonus as opposed to other competitors which may only offer to US-based customers (state-by-state availability may vary). As ether.fi itself is one of the leading yield platforms in the industry, the Cash program is natively integrated with ether.fi's Liquid Vaults which allows users to seamlessly access high-yield vaults without needing to move funds to another platform.

The best part of ether.fi's offering is the ability to use the card as either a high-reward debit account or a credit account that lets you borrow against your balance without having to sell. It's like having Aave in your pocket where each swipe of your card creates a new lending position against your collateral. Importantly, this avoids the taxable event of selling your crypto in order to buy things while still giving you all the spending power you need. Many advanced traders have gone through this process manually, but ether.fi makes it an accessible strategy for everyone.

Overall the only real drawback is that cashback is settled in Scroll tokens which of course are volatile. If you'd prefer not to hold onto SCR you can immediately swap these for USDC, but this sale would incur a taxable event on the rewards. Given the other benefits of the card this doesn't tip the scale much, however it's definitely worth considering.

If you're interested in unlocking liquidity on your crypto and trying ether.fi Cash for yourself, head to their site here.