How does crypto com card work

Crypto.com’s VISA Cards

As of 1 June 2022 00:00:00 UTC, new Card Lockup Rates in Fiat will apply should the cardholder (1) upgrade their card tier or (2) unlock and relock their CRO Card Lockup at a later date. What is crypto card As we said earlier, Crypto.com’s Rewards Visa is not just one card – it is actually a series of different types of cards. Each card level depends on how much you stake – with a higher level of stake, you unlock more benefits. The Obsidian (highest card) card offers 8% CRO back and various other benefits, while with the Midnight Blue card (lowest card), you get just 1% CRO back.

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The Crypto.com Card is a prepaid debit card. To use it, you need to top up the card (load funds onto it) in the Crypto.com app. You can top it up with cryptocurrency or fiat money. If you decide to load fiat money, you can do so with funds you've already deposited to your Crypto.com account or by paying with a debit or credit card. If you use cryptocurrency, it will be converted to fiat money. While the summer of 2019 is proving to be a popular time for card launches, the market was not always so receptive. Here are a few examples of when crypto card providers failed or struggled to continue offering their services. Buying with a credit or a debit card will have a 2.99% fee, and if you exchange crypto within your account, the transaction will be free. SWIFT deposits and withdrawals will have varying bank transfer fees, and ACH and SEPA deposits and withdrawals are usually free. If you use PayPal and TransferWise, you will have to handle the fees they impose.

Best Crypto Virtual Cards

Technically, the Crypto.com Visa is not a credit card. This is both a benefit and a drawback, as it is more accessible than a credit card since it doesn’t require a credit pull. However, the rewards are not always as competitive compared to a credit card. How I got the Crypto.com Ruby Steel card Both cashback and benefits depend on the amount of CRO staked. You can get a maximum of 8% back on spending with an Obsidian card, but even a Midnight Blue will earn you a shy 1%. There are no requirements for minimum or maximum spending – you will always get your % back in CRO coins, which you can keep or convert to fiat or another crypto in the app.

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The different card levels bring different benefits. The company behind the Crypto.com Visa Card has produced a very helpful overview, showing the benefits from each and every one of the card types. It is available here: How to buy crypto with a prepaid Visa gift card However, the most common is that providers make the possession of their own tokens and their staking a condition for the possession of the credit card. It is not uncommon for the first “tier” of the credit card to be available without such a requirement for prospective customers. As the level rises towards the premium segment, i.e. silver or gold cards, the minimum amount of the token charged increases.