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Ethena Pay vs Pionex Visa Card

Ethena Pay scores higher on the G2M score: 83/100 against 49/100 (#1 and #22 of 28 cards). Pick Ethena Pay for cashback, more countries and control of your funds; pick Pionex Visa Card for a lower FX fee.

Ethena Pay83

#1 of 28 · 4% to 5% back · annual fee none

Get EthenaRead the review
Pionex Visa Card49

#22 of 28 · 1% back · annual fee none

Get PionexRead the review

The short answer

  • Ethena Pay scores higher on the G2M score: 83/100 against 49/100 (#1 and #22 of 28 cards).
  • Ethena Pay pays more cashback on its entry tier: 4% against 1%. Higher tiers go up to 5% on Ethena Pay.
  • Neither card has an annual fee.
  • Pionex Visa Card charges less on foreign currency: a 0% FX fee against 1%.
  • Ethena Pay lists 48 countries where it works; Pionex Visa Card does not publish a full country list. Of the markets we check for every card, only Ethena Pay is confirmed in UAE.
  • Ethena Pay is self-custodial; Pionex Visa Card is custodial.

Want the answer for your own spending, or the next tier up of each? See what each keeps you a year or pick tiers and add a third card.

Side by side

Detail
Ethena Pay
Pionex Visa Card
G2M score
83 (better)
49
Base cashback
4% (better)
1%
Max cashback
5% (better)
1%
Paid in
AVAX, daily
USDT
Annual fee
Free
Free
FX fee
1%
0% (better)
Top-up fee
0%
0%
Per-purchase fee
None listed
1% + $0.20 at or under $5, first 1 a month free
ATM
$1 + 0.65% per withdrawal
2% (physical card only; physical cards are not open to new applicants)
Network
Visa
Visa
Card type
Spend
Debit
Custody
Self-custodial
Custodial
Formats
virtual
virtual
Apple / Google Pay
Yes / Yes
Yes / Yes
India
No
Unclear
UAE
Yes
Unclear
United States
No
No
United Kingdom
No
No
EU / EEA
No
Unclear
Countries
48
Most countries; not the US, UK, Canada, France, the Netherlands, Japan, Singapore, Hong Kong or mainland China
Bank account (IBAN or account number)
In your name
No
Send money to a bank account
Not confirmed
Not confirmed
Buy and sell crypto with fiat
Buy and sell
Buy only
Spend against crypto without selling
No
Not confirmed
Yield on your balance
Yes
Yes
Tiers
Standard · Pro · VIP
Visa
Perks
Works on Arbitrum, Ethereum, Optimism and Polygon · 5% a year on your balance, up to $5,000, paid daily in USDe · 6% a year on your balance, up to $100,000, paid daily in USDe · 6% a year on your balance, up to $1,000,000, paid daily in USDe
5% a year on the card balance · Apple Pay and Google Pay · 5% a year on your card balance, paid hourly in USDT · Extra cashback at partner merchants through Pionex links

Highlighted values are the better of the two. “Not published” means the issuer does not state it. Card data last checked 25 Oct 2026; see each card's review for its sources.

Questions

Which is better, Ethena Pay or Pionex Visa Card?

Ethena Pay scores higher on the G2M score: 83/100 against 49/100 (#1 and #22 of 28 cards). Pick Ethena Pay for cashback, more countries and control of your funds; pick Pionex Visa Card for a lower FX fee. The better card for you depends on where you live and how you spend; the G2M calculator works it out for your own spending.

Which has lower fees, Ethena Pay or Pionex Visa Card?

Neither card has an annual fee. Pionex Visa Card charges less on foreign currency: a 0% FX fee against 1%.

Which pays more cashback, Ethena Pay or Pionex Visa Card?

Ethena Pay pays more cashback on its entry tier: 4% against 1%. Higher tiers go up to 5% on Ethena Pay.

Which works in more countries, Ethena Pay or Pionex Visa Card?

Ethena Pay lists 48 countries where it works; Pionex Visa Card does not publish a full country list. Of the markets we check for every card, only Ethena Pay is confirmed in UAE.

Who holds my funds with Ethena Pay and Pionex Visa Card?

Ethena Pay is self-custodial; Pionex Visa Card is custodial.

More comparisons

Scores use the same rules for every card (how the score works). Referral links never change a score or rank. Not financial advice.