I am an active user of both the Coinbase and Crypto.com debit card. I use them for the rebates, paid to you in crypto. For a discussion of the Coinbase card and my experiences with it, follow me and see my previous post. Here, I’d like to offer insight on my experience with the Crypto.com card.  

SETTING UP YOUR ACCOUNT

There are a few hoops to jump through prior to qualifying for, and then receiving the card for use. First, I wanted to maximize my return. You can request the card, start using it, and earn 1% back. I chose to stake $400 worth of CRO, making the rebate earned 2%. Additionally with this stake, if you pay your Spotify bill using the card, you will receive a $12.99 rebate in CRO. All rebates from purchases made with the Crypto.com card are paid via CRO to your wallet on Crypto.com.

There are additional levels of staking that allow you to qualify for a higher percentage back on purchases and rebates for bills such as Netflix and Expedia. The tier levels for these are $4000 and $40000. Once you choose your tier, the staking period required is 180 days, but you can request the card and start using it right away, you just are required to keep that stake for the 180 day period.  Prior to receiving the physical card, you’ll receive a “virtual” card that you can use anywhere the physical card isn’t required. The physical card you receive is metal, which is a kind of cool look  

USING THE CARD

There is no fee to top up your card, which is a prepaid card allowing you to spend whatever amount you deposit.  You are spending the currency you deposited, and not crypto which is an important distinction. I don’t like to carry a large balance, so I’ll throw $100 at it for day to day transactions until I need to reload. I’ll put more on it before I go to the grocery store, for example-$200 in groceries ends up being a $4 rebate.  If I’m making an online purchase, I’ll put in enough to cover the purchase. 

REWARDS 

The rebates are quick; usually by the next day. If you aren’t wild about the lack of options for the rebates, which are only paid in CRO, use your Dex and change it over. To make it easier, put your card in your mobile wallet for contactless payments. Play around with what merchants work best-for example, the gas pump is not the best place to use the card as they will place a $75 or $100 hold on your account for up to 30 days. Almost every other transaction I’ve completed has been similar to any other debit card transaction. 

Follow me and keep your eyes peeled for more real life uses and experiences in the Crypto world.