Sirwin
Sirwin

ROI on Hi.com's debit card

By Box | BitBox | 24 Nov 2022


Hey everyone! It's been a hot minute I know but whilst we're waiting for the new article at the end of the month about passive income I thought I'd do a little update on potential ROI's on the hi debit cards are they start getting closer to the date of release!

Now firstly just to add a quick update, the Virtual cards were due to be release this Month but this has now been confirmed that this is not the case. There will be a few users who get access to the virtual cards early for testing and I have applied for this in hopes to a) give this a test and b) be able to provide updates on how this all works to everyone. Hopefully having staked for the gold card this will work in my favour and I'll be granted early access but time shall tell!

Anyways! The overall crypto market has continued to fall this month and unfortunately the hi dollar has been no different. We're down almost 20% bringing the price of hi dollar down to around 3.7 cents which when using the the in app "1 year daily release" lock up option brings us down to 2.47 cents per coin but for ease lets us round this up to 2.5 cents. Now not to try cause panic but there's been talks by the admins in telegram of removing the 1 year lockup option earlier than originally planned so waiting may not work out so well at this point but time shall tell.

Either way with the price drop of hi, it's made the cards a good chunk cheaper and for those long term users using the crypto.com debit card to get Spotify (or Spotify and Netflix for those on jade/indigo) this article is for you guys as come January those benefits unfortunately get axed!

With Hi's debit card you get a huge pick of lifestyle choice's to choose from. For the sake of simplicity lets assume that these average out at $10 a month. Now when you buy the hi it needs to be locked up, and since its a fixed amount of hi and not a fixed fiat value lets just assume that all the hi locked is unavailable as we want to keep using the card.

So what type of Return on Investment can we expect from these card. Well that largely depends on how much a person spends so lets give a few options!

First up the black card! at a cost of 1000 Hi dollars with a current lockup price of $25 it's incredibly easy to get a 100% return fast! With 3% cashback and 1 lifestyle

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Spending just $500 a month on the card will net your whole stake back in the first month! Anything additional to that is all profit! Spending $3000 a month will net you your card stake in just a week.

Next up the Silver Card. At a cost of $250 its still very reasonable especially if you've been used to crypto.com's card and this was my initial stake.

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As you can see the ROI isn't quite as fast as the black card but the rewards quickly overtake that of the black card assuming a decent spend. Spending $1000 a month will see your get your whole stake back in 2.5 months. Spending $4000 a month will see you get that back in 1 month!

The last card we'll look at is the gold card. At a current cost of $2500 this is still a good chunk lower than crypto.com's jade/indigo card despite offering so much more. This is the stake I've now upgraded to. Giving a massive 8% cashback and 10 lifestyle rebates.

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So as you can see the ROI is much slower on the gold card but if you're able to front up $2500 for a card you'll likely be spending in the $1500+ a month range giving a complete ROI in under a year. Obviously the more you spend the faster this happens.

Now like I've said these monthly figures completely write off the Hi you've bought but of course this is still yours and we'll all be hoping that the price of Hi increases over time in which case we'll all be celebrating.

Now none of this is financial advice and I am in no way telling you to get these cards but am simply providing info on how feasible it is to break even on these but if you'd like to get yourself the Hi.com card you will need an invite and if you are in need of one you can use my referral code Boxxie or click this link at hi.com/Boxxie 

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Box
Box

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