Crypto Visa Card

Crypto.com offers Visa PrePaid card loaded with USD with the option to convert crypto to USD before topping the Visa card. It has many tiers with great benefits. Check here for the card tiers.

Perks include (depending on the tier you choose) cash back Up to 8% in crypto (CRO), up to 100% credits for certain services like Spotify, Netflix, Amazon Prime and higher cash back in Expedia, AirBnb, Airport Lounge access, private jet membership, higher earnings rate on crypto and stable coins like USDC (up to 12% APR) depending on the amount of CRO is staked.

Note: Crypto.com could make changes to their benefits/perks/rates at any time.

Changes to crypto earn program effective April 4th, 2022: https://crypto.com/product-news/changes-to-crypto-earn

Pros:

  1. Earn cash back in Crypto (CRO). 1% to 8% cash back (paid instantly) at the time of this writing.
  2. Ability to convert your crypto to cash and use to pay using card instantly
  3. Earn higher interest on your crypto deposits (for certain tier crypto.com Visa cards) paid weekly. Up to 12% APR on stable coins (like USDC) at the time of this writing. You can check the interest rates for different terms with different CRO staked amounts here.
  4. Earn credits up to 100% (in CRO) for certain services (for certain tier crypto.com Visa cards). The services may include Spotify, Netflix, Amazon Prime.
  5. Airport Lounge access (for certain tier crypto.com Visa cards)
  6. Can be used with Google Pay or Apple Pay. So you may be able to make use of any additional rewards/cash back that comes with Google Pay or Apple Pay when using linked cards.
  7. Metal card for higher tier cards
Cons:
  1. Requires locking your crypto (by staking) for 180 days to get the higher tier card with better benefits
  2. Card does not provide cash back on all transactions. There are some restrictions. Restrictions may include - gas, electricity, water, sewage, mortgage, insurance premiums. The restrictions are subject to change. Please refer to the official site. More details can be found here.
  3. You need to deal with filing taxes for Crypto earned, received as credits or cash back depending on the the tax laws in the country you live in.
  4. This is a prepaid card and requires you to top your card to use for purchases
  5. Funds topped into the card cannot be transferred back to your Fiat wallet. It can only be spent or withdrawn via ATM withdrawals. But there is a monthly withdrawal limit and the ATMs may charge you some fees to withdraw.
  6. Since you will be using stable coin (crypto version of fiat), it comes with the risk of crypto (the stable coin losing its value, probably much lower than risk of any regular crypto like Bitcoin losing it's value)
Changes to crypto earn program effective April 4th, 2022: https://crypto.com/product-news/changes-to-crypto-earn

Questions:
Please refer to crypto.com for accurate answers. Following Q&A is my understanding about crypto.com app and CRO staking for Visa card

1. Will I lose the card benefits, if the value of the staked CRO goes down in value?
Answer: The card perks are maintained as long as you do not un-stake the CRO and Crypto.com continues to offer the perk.

2. How often are CRO Staking rewards paid?
Answer: Every week

3. Will the staking rewards change every week based on the value of the CRO coin?
Answer: The staking rewards are paid in CRO and is calculated on the amount of CRO staked. So you would receive the same amount of CRO coins every week as staking rewards. However due to the change in USD value of CRO coin, the USD value of CRO coin received will vary.

If you like to get the Crypto.com Visa card, use my referral link https://crypto.com/app/3drjkhsp2p to sign up for Crypto.com and we both get $25 USD if you get the card with staking requirements (Ruby card at the time of this writing).

Sign up now using this link to get Crypto.com Visa Prepaid Card and if you chose to get the card with staking requirements, we both get $25 for using my link to sign up.

If you would like to consolidate all your cards into one and have a thin wallet, you may want to try Curve Card. You may add to waitlist here. I do not know what the fine details will be for the Curve Card when released in US. But I am hoping it comes with some cash back (in addition to linked card rewards) and "Go back in time feature". Go back in time would allow the user to change the card that was used in a transaction up to certain time after the transaction is done. We will know what features are present when the card is made available.

You may buy a Ledger Nano hardware wallet at the official site here.

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