CRO Visa Card Review: Stake Your Rewards

The Crypto.com Visa Debit card is a unique offering in the Bitcoin and cryptocurrency prepaid card space due to the use of the company’s very own crypto token. The CRO token is Crypto.com’s own proprietary offering, and it is can be used by card holders to gain access to better rewards on one of the five tiers of cards available on the platform. Staking CRO allows users to gain access to added bonuses such as up to 5% cashback on all purchases and 100% cashback on common purchases like Netflix and Spotify subscriptions. While the rewards with CRO are quite remarkable, the fact that users must hold a niche cryptocurrency to gain access to those rewards must also be considered.

Crypto.com Visa credit card

Crypto.com Visa Card

  • Up to 8% crypto cashback on all purchases
  • Huge amount of available perks including free Netflix, Spotify and Airport Lounge access
  • Unique CRO staking model offers five different tiers of cards
  • High-quality premium metal cards

General Overview

The Benefits PRO's
  • Available at 40 million point-of-sale locations around the world
  • Discounts on cash withdrawals from ATMs
  • Get up to 8% cashback on all purchases
  • Five different card tiers available
  • Get 100% cashback on common subscriptions like Netflix and Spotify
The Downside CON's
  • CRO must be staked to gain access to the best rewards
  • Cashback rewards are denominated in CRO
  • There is a $50 fee if you close your account without spending all funds

Crypto.com Visa Card at a Glance

Card Type: Visa Debit (Pre-paid)
Cost: Free (Staking optional)
Funding methods: Bank wire, debit, crypto transfer etc
Cryptocurrencies supported: Bitcoin, Litecoin, Ether, Ripple, PAX, TUSD, EOS, and XLM
Rewards: Up to 8% cryptoback, 100% cryptoback on Spotify, Netflix, Airport Lounge Access, Amazon Prime
Cryptoback percentage: 1-8% with 10-100% on select purchases
Physical card: Yes
ATM Fees: 2%, but there are no fees for up to $200-$1000 worth of withdrawals per month (depending on card tier)
Proprietary token: CRO
Issuing bank: Metropolitan Commercial Bank

What is the Crypto.com Visa Card?

The Crypto.com Visa card is one part of the greater Crypto.com platform and ecosystem. In addition to the card, Crypto.com also offers the ability to buy Bitcoin and other cryptocurrencies via a credit or debit card, exchange 55 different crypto assets on an exchange, and even borrow or lend out various cryptocurrencies. All of this functionality can be accessed via the Crypto.com mobile app on Android and iOS devices.

The Crypto.com Visa card is hard to separate from the CRO crypto token. To gain access to the best rewards associated with this card, the user must be willing to buy and hold CRO tokens for a period of six months. While there are rewards available for users who do not stake CRO, these rewards pale in comparison to what is given to CRO stakers. For example, someone staking 1 million CRO with an Obsidian level card receives 5% cashback, while a user with the same tier card who is not staking CRO receives 2% cashback (in addition to losing out on a number of other rewards).

What are the Benefits of the Crypto.com Visa Card?

In addition to the base cashback rewards, the Crypto.com Visa card also allows users to get 100% cashback on popular subscription services such as Amazon Prime and Netflix. Cashback rewards are also higher on Airbnb and Expedia purchases; however, it should be noted that all of these cashback rewards are also denominated in CRO. There are also additional rewards that are specific to the Crypto.com platform, such as bonus interest earnings and the Crypto.com Private program, which enables extra features like inheritance planning, access to research reports, and over-the-counter trades of CRO.

The top Crypto.com Visa card tier even involves a private jet partnership, which enables special perks when the user flies private with Crypto.com’s private jet partner. Lounge Key airport lounge access is also made available to users of the top two card tiers.

Finally, the cards offered by Crypto.com offer discounts on ATM withdrawal fees and interbank exchange rates. These discounts increase depending on the card tier.

It should go without saying that you can also use the Crypto.com Visa card pretty much anywhere that accepts Visa.

Potential Crypto.com Visa Debit Card Dealbreakers

The biggest issue with the Crypto.com Visa card is the reliance on the CRO token to enable all of the amazing rewards. Yes, the rewards offered by the various Crypto.com prepaid card offerings sound amazing on paper. However, users must consider the fact that they’re forced to hold the CRO token in order to gain access to those rewards. What happens if the value of CRO goes down? It is possible for users to lose more money on their CRO holdings than what they’re getting back in rewards through their Crypto.com prepaid card of choice.

For example, let’s say a user wants to get the Crypto.com Visa Obsidian card. Gaining access to the highest possible rewards with this card requires the user to stake 1,000,000 CRO, which is worth roughly $170,000 at the time of this writing. A user must initially agree to lock up their CRO for 6 months in order to gain access to the best rewards. What if the CRO price drops 50% during that time (something that has happened in less time in the past)? That means the user must have earned $85,000 worth of rewards during that time just to break even.

Is the Crypto.com Visa Debit Card Right for Me?

In most cases, it is correct to say that whether a specific crypto debit card is right for a particular person depends on the specific features that user needs for their specific situation. If you have a Netflix and Spotify membership, then perhaps the middle tier of cards is right for you. If the risk of holding CRO is too much to bear, there is always the free tier of the Crypto.com VISA card that is available to everyone by default. On the other hand if you’re a believer in the CRO project than you might feel more comfortable  holding a significant amount of CRO.

Crypto.com Visa Card

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