Not sure how many will take the time to actually read, but i have to say i have been procrastinating a lot on taking time to write this article, why? There is a lot of confusion on which one should you really invest right now, and whether you will actually gain your money back in some time or not.
There was a lot of drama, which seems to have calmed for now at least concerning the MCO swap to CRO, which so to say did not benefit the old investors as much as they hoped it will, and while i did not necessarily agree with the decision crypto.com has taken in regards to the swap, everyone should realise they are a company, which has to and will decide what is better for the evolution of the company, which would also benefit the users long term.
While all this drama happened, people were looking for alternatives, luckily(so they thought) they had Swipe, so some jumped over, however is it worth it? I must say i have bought Swipe myself, too, not to leave Crypto.com, but to diversify and that so i can benefit from both.
Now let's take a look at the Cards and what they offer.
Here we have all tiers of their card with all the benefits listed. Now which one is really worth it?
Midnight Blue offers you 1% cashback without having to stake anything, which if you would like to get an entry level for no fee, would be the best pick.
Ruby Steel has a 2% cashback and also 100% Spotify reimbursement with increased limits on withdrawal and spending at a price of 1000 CRO (which is 0.13£ at the time of writing so around 130£) [LOCKED FOR 6 MONTHS!]
- if you use Spotify, you would eventually get your money just by receiving your money back in around an year, start spending with it and with day to day purchases you should be able to get your money back in around 6 months.
Jade Green / Royal Indigo offers 3% cashback, with reimbursement of both Spotify and Netflix, which is gets you that chilling pack for free, in addition to this you also receive Airport lounge access, and even though it is not mentioned in the whitepaper, you also get 16% APR on your locked tokens that are staked for the card, 10000 CRO (1300£) and also better rates on their EARN project.
Icy White / Frosted Rose Gold has a 4% cashback, offering you full reimbursements on Spotify, Netflix and Amazon Prime, 10% on Expedia and grants you a +1 on that Airport lounge flex. This also comes with 18% APR on your 100000 CRO that are staked for the card (13000£). Crypto private is a benefit which earns you an extra 2% CRO on all of your earn deposits.
Black Obsidian earns you 5% cashback with all the above benefits and an extra Private Jet partnership, but umm, that is for 130000£. Is it worth it? Totally doubt it.
SWIPE CARDS ( OFFER 12% APR IN APP )
Saffron offers 1% cashback, is free and has Spotify reimbursement too. (NO-BRAINER) MUST HAVE.
Sky requires you to stake 300 SXP (693£) at the time of writing, which is the second tier of their card (not even released yet) which offers the same rebases just like Crypto's ICY does, except for Expedia, however you only have 2% cashback, instead of 4%.
Steel comes in a premium manner with a price of 3000 SXP (6930£) providing a 4% cashback and 100% reimbursements for Spotify, Netflix, Apple Music and Prime, and 10% on Travala and Uber
Slate is the highest tier with 5% cashback some added reimbursements for Starbucks and Airbnb, which requires you to stake 30000 SXP(69300£)
Now what is actually worth it and should you expect to make a profit from any of these by actually using them?
As i previously said, diversifying is the best to do as both offer different things for different amounts.
BOTH SWIPE AND CRYPTO.COM have insane prices for their last tier of cards, imo, without actually offering something for THAT amount.
Which one should you get into? If you use Spotify, the best way to benefit from reimbursements is to go for Swipe, without actually having to lock any money, since Saffron offers that for free. However, for that 2% from Ruby, you're not required to stake a insane amount of money, so using both could easily work out, in addition to this, AS A NEW user on CRYPTO.com using fprn958awk me and you will both get 50$ in CRO if you lock up 1000 CRO for Ruby Steel, you will get them as you register, however they will be locked until you stake.
SKY has the best reimbursements for the money, without offering you both apple music and spotify like STEEL does, which is really a conflict and having 2 benefits from the same area, not actually being able to benefit from both is capitulating.
Jade / Royal is really one of the best decisions being in the mid tier, also earning you 16% APR sent out weekly in your wallet, having 3% and reimbursements will produce your money back in about 9-12 months depending on how much you spend.
STEEL VS ICY have the same amount of cashback, however staking for STEEL remains only 12% APR while ICY jumps to 18%, the spread between the card prices makes the difference, STEEL being at almost half the price ICY's at, however i would still go for CDC's ICY.
Why? I have been using CDC's card for few months now, and as per features, they are ahead, their competitor gained a lot of exposure because of the drama, but is Swipe actually providing what they say they do RIGHT NOW? App is buggy for now, credit card purchases do not clear for over a week, people have issues opening the app, me included, while CDC's WEAK LINK is support's long reply time.
I am not a financial advisor, i wrote this post to showcase the benefits each of these cards have and how it could potentially benefit you, the reader, if you are looking to find yourself a day to day card. DD / DYOR
CDC has a product that offers you what they say it does, right now, and it is working.
Swipe has a product that is in making, which could potentially offer what it says it does to some users as of now, however not enough for it to compete just yet with CDC. There is work to be done, once again, do not feel like you should back off from Swipe, i am just saying maybe you should wait around a month see how things are and review the potential investment.
The other cards remain free for you to decide whether they are a good investment decision, as i do not see much of a point in investing that much for top tiers, considering they aren't actually that rewarding.