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By default, the Crypto.com Card earns CRO tokens for its purchase rewards. If your card earns 3% back and you make a $100 purchase, you’d get $3 worth of CRO. From there, you have the option of keeping the CRO tokens or converting them to either other types of cryptocurrency or fiat money. If a cardholder upgrades their Card tier or CRO stake, they will enjoy the merchant rebate benefit offered with the new Card tier for six months starting from the date of the upgrade. The extension of benefits when upgrading applies to all new and existing cardholders who are upgrading above their highest previously staked card tier (refer to terms & conditions here). As noted above, if cardholder upgrades to Icy White, Frosted Rose Gold, or Obsidian, their merchant rebate benefits will not expire after six months.
Does crypto have hidden fees?
There are no fees when making deposits, for instance, but there may be withdrawal fees. Trading fees are usually charged on all transactions until the fulfillment of the order, and fee discounts may be offered in the CRO rebate form. Crypto.com has a maker fee of 0.04-0.20%, and taker fees of 0.10-0.20%.
Our Target Market Determination describes who the card is appropriate for , and any conditions around how the card can be distributed to customers.
BlockFi Rewards Visa® Signature Credit Card
Note, when paying for petrol (aka ‘gas’ in USA), you need to use the pay counter option to get cashback. Staking means you give money to Crypto.com and forget about it, you can’t get it back before the staking period has expired. As soon as your Crypto.com new to bitcoin read this first 2020 rewards post, which can take up to 30 days, you can begin redeeming them. As far as rewards earnings go, the Coinbase Card is the superior product to the Crypto.com card. Information about fees can be found in the Crypto.com App and vary by product tier.
Because the Crypto.com Rewards Visa is a prepaid debit card, there is no credit check involved. You can have a perfect credit score or a terrible one and it won’t impact your eligibility for the card. Cardholders of the Crypto.com Visa can link their card to Dosh, an app that gives you cashback when you shop at eligible merchants, and earn bonus rewards when paying with that linked card. When shopping online, purchases must be made through the Crypto.com App in addition to paying with your Dosh-linked card.
Crypto.com Card Tiers
Most crypto debit cards will reward you with zero transaction fees and generous spending limits per day. You can expect to use your debit card at points of sale that accept Visa or Mastercard. A crypto debit card lets you spend your digital assets at locations where debit cards are accepted. Every time you use the crypto card, money is deducted from your wallet balance and converted into the merchant’s currency.
While a standard rewards rate of 1.5% back isn’t the highest you’ll find, the other features offered by this card may make it worth a closer look. For example, you can earn 0.25% back in Bitcoin on all eligible trades, with best bitcoin exchanges of 2021 a monthly cap of $500, in addition to the other rewards opportunities. However, it’s worth noting that residents of the U.S. and other countries outside of the European Economic Area won’t be eligible for this card.
Crypto.com card fees
The company also decided to phase out the MCO token completely by swapping it to CRO, meaning that from now on, Crypto.com Visa card users have to stake CRO tokens to earn rewards. Obsidian is the ultimate tier in the Crypto.com rewards program and features the most significant perks – for the largest CRO stakes. The level requires $400,000 in CRO stakes but offers 8% back in crypto rewards with all eligible purchases. The Royal Indigo or Jade Green card tier is the mid-tier of the Crypto.com Visa rewards system and requires a $1,000 in CRO stake to achieve. This medium-tier offers 3% back in crypto with all eligible purchases.
- The Crypto.com Visa Card works like most traditional prepaid debit cards.
- Crypto.com is on the lower end when it comes to trading fees for centralized exchanges.
- CRO rewards have the potential of earning between 0.5% to 5% back in CRO on purchases made with your card.
- You can expect to use your debit card at points of sale that accept Visa or Mastercard.
- After the 6 month period, you can keep your money staked and keep all the benefits, or withdraw your stake and the benefits you receive will be reduced.
That’s because those benefits are tied to the physical card itself, not the tier. For example, if you are upgrading from a Ruby Steel to a Jade Green or Royal Indigo, you would have to stake SG$4500 more worth of CRO to reach this tier. Also, if you’re using the Crypto.com Earn, choosing at least this tier will increase your returns on your stakes. To decide which card you should get, you should consider what type of spender you are, and which benefits resonate most with you. As you can see, the benefits dramatically decline when you don’t have any CRO staked. However, you will still have access to the airport lounge for all tiers except the Ruby Steel and Midnight Blue.
The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Bankrate follows a strict editorial policy, so you is xtrade broker reliable find out everything in our review can trust that we’re putting your interests first. According to Coin Market Cap, the price of CRO dropped from .35 cents on Sunday to .26 cents on Tuesday.
Full Crypto.com Card review
This makes the card a good fit for someone who doesn’t want to go the usual route when it comes to converting cryptocurrency to a spendable asset, which can take several days. At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
Crypto debit cards make it easy to use crypto for everyday transactions. We introduce top card providers and discuss what crypto debit cards mean for taxes. However, you don’t need to participate in BIA to qualify for BlockFi’s crypto credit card or to earn standard rewards. One of the most notable perks, though, is that the Nexo Card doesn’t force you to use or sell your digital assets when you swipe your card. Rather, the card is tied to Nexo’s Instant Crypto Credit Lines, and all purchases are deducted automatically from your available credit line while your portfolio remains intact. In other words, you use your crypto tokens as collateral while spending the fiat value on your card.
These rewards are paid into your Crypto.com crypto wallet immediately after you make a purchase. Earn 0.5% to 5% back in CRO with every purchase, depending on the Crypto.com card you choose. Staking means you agree to exchange your US dollars for CRO and hold it in your Crypto.com account for at least 180 days. The amount you stake is completely separate from the balance on your Crypto.com card.
This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed. Introducing these changes to the card program is a difficult decision. Sign up for a Crypto.com Visa Card by downloading the Crypto.com App. Existing cardholders may be able to upgrade to a new card tier if desired. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations.
Crypto.com Visa Card – Rewards & Benefits
These cards typically offer a low-frills to no-frills experience that allows you to earn crypto while swiping your card for everyday expenses. However, the offers to earn crypto are time limited on Coinbase, which means that the amount you earn may change after a deal expires. For example, the current offer allows cardholders to 2% back in Bitcoin. At one point, you could only earn rewards in Bitcoin with BlockFi’s Visa credit card — but recent changes were made that introduced additional reward options. The rewards available for this card now include Ethereum, Litecoin, Chainlink, and several others.
- Use any credit card to top up your Crypto.com card for a 2.99% fee.
- Being among the first crypto cards, the Crypto.com Visa card brings tons of rewards into your life, making your daily life comfortable.
- Ruby members also receive a 100% staking benefit for Spotify Premium subscriptions.
- This card is a relatively new addition to the crypto credit card lineup, and in addition to allowing you to retain your crypto assets, it offers a ton of unique perks.
- Crypto.com is a beginner-friendly crypto trading platform that makes it super easy to acquire, exchange, and spend crypto.
This card also offers a 5% cashback on CRO for all applicable purchases. An exclusive ‘Merchandise Welcome Pack’ will also be sent to you as a thank you for being one of Crypto.com’s top-tier members. After the initial 180 days of CRO staked, you can begin earning cashback in the form of CRO and work your way up the tiers. The Crypto.com Visa debit card is available in 5 different card tiers. The Free monthly crypto.com ATM withdrawal limits are tied to the type of crypto.com tier you choose. Being a prepaid card, you will need to top up your Crypto.com card before you use it.
All Crypto.com card options currently pay a lower reward when not staking. However, upcoming changes will remove the rewards for non-staked accounts in all but the top tiers. Instead of waiting for several days for your cryptocurrencies to be available for spending, Crypto.com Rewards Visa Card allows you to have your digital assets available to you instantly.