These are just a few but more renown options for a "crypto card"/lending/interest bearing/blah blah blah type platform. The large amount of features on these platforms is pretty badass though... Crypto.com with the Metal Visa based crypto cards and Nexo with a very simple and easy to use loan feature makes it difficult to pick which to use for this type of utility like platform. I've used Nexo in the past but honestly find both platforms extremely attractive. With the great benefit of having options like this in the crypto-space, a utility likethe platforms I mentioned may not be useful to you at all. For those of us planning to use a utility like this... My question is which do you use???
A lot of these platforms are very attractive like I mentioned and i'm
very interested in your choice. First thing i'm looking at is personal use case for the platform. I personally believe you should prioritize the use case before ammenities, but these platforms have long term benefits as well. I've never used BlockFi but i've found Nexo to be incredibly good about
withdrawal fees and minimum amounts of crypto required for said withdrawal while Crypto.com's only seemingly bad aspect is withdrawal fees/required
withdrawal amounts. It's not ideal to withdraw crypto assets or move them frequently but I think we could all agree it's very frustrating to have
assets somewhere but can't withdraw them.
Crypto.com also has CRO (it's native token) listed on coinbase. I wouldn't even consider Crypto.com's DEFI wallet region restrictions a CON on the
PROS/CONS list of sites. Crypto.com requires you to own CRO to recieve
the metal card along with other benefits. CRO has done very well recently, the platform has great advertisement, is expanding very well and adding utility seemingly on a larger scale than the competing platforms.
Let's take a step back though. All these benefits are amazing.... I reallyhope everyone reads my article at least this point because this is cruicial!!!!The initial and base use case for these platforms is the "crypto card" and lending functions/utilities....... Crypto.com has blinded us with all these flashy and useful benefits almost causing us to stray from the initial use case we sought them out for! If you NEED to use a platform for lending instead of selling your crypto then it might be safe to say you belong to a specific financial class that shouldn't be charged as much as they do just to withdraw!!!
Borrowing or loans for crypto assets have many utilities aside from just needing fiat and not wanting to sell your crypto.. institutions offering cool or flashy things for your business is nothing new. Crypto.com's metal card is very cool but would stray and try to entice you to further invest and spend fiat with them from your initial use case (crypto loans and cards). Honestly there is no need at all for a metal visa card aside from it being cool. Nobody issues metal or alloy cards as the plastic material issued typically will suffice and physically do fine up to the expiration.
With all that being said Nexo is in my opinion the best platform to use for crypto loans and cards despite Crypto.com offering metal cards. Nexo has less crypto pairs for it's exchange, they offer good interest on a good handful of crypto assets, the loan process is very very easy, you aren't required to own NEXO (Nexo's native token for the platform) but you'll gain access to a handful of free withdrawals. There is a waiting list for the crypto card from Nexo.
While I personally declare Nexo as the better platform I use Crypto.com. I think Crytpo.com has a very big future. The flashy and cool things Crypto.com has aren't "silly marketing tricks"... it's all pretty obvious and upfront. I like that compared to other large industries and institutions. While Nexo is more useful for my current crypto position Crypto.com is the right long term choice
for me.
Thank you so much everyone for reading my article. I really hope everyone enjoyed! I'm quite active on Torum so you can find me there!! Below you'll find some of my referral links to platforms and sites I use. As always I will try to post and voice unbiased opinions, my writings are simply just that and also based on my own experiences. Using my referral links to sign up for any platform or site will benefit me(which is appreciated) but ALWAYS DYOR!!!! Much love to all!!!!!
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