Crypto.com has had a long, storied history. Swathes of crypto-faithful across the globe had waiting eagerly for their Monaco card, Crypto.com’s previous name. Some had even been waiting for over 12 years.
Monaco threw the crypto would for a loop when they bought the Crypto.com domain, rebranded, and finally rolled out their crypto debit card complete with a partnership with Visa.
What are the benefits?
For the Visa prepaid debit card, Crypto.com features the following:
- No annual fee.
- Cashback of 1% — 8% based on the card you chose.
- Free Spotify and Netflix Rewards
- Users can load and buy fiat (e.g. US, EUR, GBP, SGD or USD), without needing to buy cryptocurrencies
- Prepaid means you have to put money on it, since it is not attached to a bank account. This also indicates that there is no credit pull necessary for approval.
Along with the usual cashback based benefits, Crypto.com also offers specific incentives for card holders. They include the following:
CRO Staking Rewards
As a crypto enabled card, we would expect the Crypto.com debit card to have functionality with the Crypto.com native token, CRO. As such, here are the specifics of the CRO staking rewards:
CRO Stake Rewards: Receive CRO at 16% p.a. for 10,000 and 18% p.a. for 100,000 and 1,000,000 tiers while these CRO are staked
The CRO token has seen many ups and downs since its initial launch in 2018 but has generally shown an uptrend according to Coingecko.
What Do We Think So Far?
The Crypto.com debit card is a sleek, technologically advanced piece of hardware. We see crypto cards as the future of payments and Crypto.com seems to present itself as a innovator in this space.
It will be interesting to see how Crypto.com adjusts to the Covid era and how they will adjust their benefits to meet the needs of users during the pandemic.
What crypto card are you the most excited for?
Check out our Top 5 Crypto Debit Card Roundup article for a full look at the best competitors.