Should you? 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. Nexo. CALGARY, Alberta and HONG KONG, May 21, 2020 /CNW/ -- Crypto.com, the pioneering payments and cryptocurrency platform, today announced that it is preparing to roll out the MCO Visa Card program in Canada, following launches in Singapore (Oct 2018), the United States (July 2019) and Europe (April 2020). 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. - YouTube. Well, now you can. For example, let’s say a user wants to get the Crypto.com Visa Obsidian card. Some of these cards let you use your crypto balance to pay for real-life goods and services. The real fee for using one of the Crypto.com Visa cards is the need to stake CRO in order to receive the best rewards. Is Bonfire Token a Rug Pull Scam? That means the user must have earned $85,000 worth of rewards during that time just to break even. Once the maximum discounts have been reached, there are 2% fees on ATM withdrawals and 0.5% fees on interbank exchanges. Spend Cryptocurrencies with their well-known Crypto.com Visa Card and get up to 8% cashback on every purchase. Yes, people living in the United States are able to gain access to Visa prepaid cards from Crypto.com. The team at CryptoVantage.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. Crypto.com MCO Visa Card. Crypto.com announced that they are preparing to rollout the MCO Visa Card program in Canada following launches in Singapore (Oct ‘18), United States (July ‘19) and Europe (Apr‘20). The cards convert your crypto into fiat in real-time. In this article, we are going to review one of the famous crypto debit cards in the market – the Spectocroin debit card. With a prepaid card, you’re not extended a credit limit but are required to use your own money instead. Crypto.com launched visa cards across different locations worldwide in recent years, and the exchange aims to take advantage of the rapidly growing Canadian market with the latest initiative. Adding Canada to the list of countries that Crypto.com supports with their Visa card shows that the card is one of the most widely available cards of its kind. “Canada is a tech-savvy, innovative country that has always been warm to cryptocurrencies. All of this functionality can be accessed via the Crypto.com mobile app on Android and iOS devices. If the transaction amount is more than $50, the fee is 3.99%. Cashback rewards are also paid out in CRO tokens. If you have a Netflix and Spotify membership, then perhaps the middle tier of cards is right for you. It has the backing of a major Canadian bank, so it’s come into the scene very well established. Since this is technically a pre-paid card, there isn't a requirement for you to sign up except for having some cash on hand to load up your card with. While there are a few crypto cards offered on the market right now, perhaps the most popular one is the Crypto.com Visa card. Learn more about CryptoVantage.com and our team on the About Us page. Our Crypto.com Visa Cards will provide the country’s residents with … Additionally, CRO can be used in other areas of the Crypto.com platform. We advocate for you to do your own research and make educated financial decisions. The more you're willing to stake in CRO, the better rewards you’ll receive from your crypto card. Expected to last approximately three minutes, users will also need to provide some form of identification. As crypto continues to become mainstream, we’ve seen a number of crypto-based credit and debit cards pop up on the market. Finally, the cards offered by Crypto.com offer discounts on ATM withdrawal fees and interbank exchange rates. The shipment of the new cards is set for January 2021. Canadian support follows the launch of the Crypto.com Visa card in Europe in April 2020. Cardholders can enjoy up to 8% back on spending, perfect interbank exchange rates, and generous purchase rebates for Spotify, Netflix, Amazon Prime, Airbnb, and … No, Crypto.com Visa cards are not anonymous. 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. 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. The project is one of the most established in the space, and has a transaction volume of $2.0 billion and close to 2 million users. Our Crypto.com Visa Cards will provide the country’s residents with the most rewarding debit card … Every single CRO is worth around $0.10, although this can fluctuate. Crypto.com Visa Card, formerly known as MCO Visa Card, is the world’s first free, metal, and crypto-linked Visa card. In that sense, you’re essentially making a type of cash deposit into the platform in exchange for higher percentage rewards, which are awarded in CRO that you convert into fiat. 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). People may receive compensation for some links to products and services on this website. Founded in 2016, Crypto.com bridges the gap between blockchain technology and the world of traditional finance. Here’s the Answer. In late 2019 Crypto.com released the Crypto.com Visa Card in Australia which offers some pretty cool features like crypto cash back on purchases and free Netflix. It is available here: Crypto.com Visa Card Cashback Function. The next levels are Jade Green/Royal Indigo, Icy White/Frosted Rose Gold, and Obsidian, which give you 3 percent, 5 percent, and 8 percent back on purchases, respectively. 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. Unlike some of the other cards, the Crypto Visa card acts more like a pre-paid debit card. 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. The 101 on Bitcoin debit and credit cards. 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. Crypto.com, a cryptocurrency exchange and app, announced today that citizens from Canada can now apply for its visa card as the company planned to ship cards to Canada in January next year. Users of the prepaid cards offered by this platform must go through the same Know Your Customer and anti money-laundering requirements that are common at cryptocurrency exchanges around the world. The biggest issue with the Crypto.com Visa card is the reliance on the CRO token to enable all of the amazing rewards. Their utility token, CRO, is primarily used to power the network. These cards aim to make it quick and easy to spend your crypto coins in the real world, allowing you to pay with digital currency anywhere that regular debit and credit cards are accepted and to use your crypto balance to withdraw cash at an ATM. Ruby Steel requires 5,000 CRO, or $500, and gives you 2 percent back. 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. The crypto Visa card lets you earn back a small percent of your spending in crypto tokens used by Crypto.com, called CRO. It should be remembered that the price of CRO could also fall rather dramatically during the staking process, which could more than negate the rewards associated with a Crypto.com prepaid card. Wirex provides a contactless Visa card, and allows you to connect your credit and debit cards, store cryptocurrencies, and purchase Bitcoin and selected altcoins with competitive exchange rates and high limits. Coinebase's fees … Wouldn’t it be nice if you could convert your crypto assets into everyday purchases and buy goods with bitcoin and other altcoins? A user must initially agree to lock up their CRO for 6 months in order to gain access to the best rewards. The Crypto.com Visa card is hard to separate from the CRO crypto token. If the transaction amount is more than $10 but less than or equal to $25, the fee is $1.49 CAD. The Crypto.com Visa card is hard to separate from the CRO crypto token. To top up your card wallet, you can sell some types of crypto from your crypto wallet, or top up using a debit card. © Copyright 2021 Market Realist. You pay cash and receive crypto back as a percentage of your purchases. It converts your crypto, whether that be BTC, ETH, Binance Coin, or another supported token, into fiat in real-time. Crypto.com is a startup company that offers a variety of financial services for cryptocurrency, including trading, term deposits, lending, peer-to-peer payments, and of course, the card.. Crypto.com’s operations are all on their blockchain. Before we delve into some of the other features consumers enjoy when using Crypto.com, let's take a look at its most popular product, the MCO Visa card.This card permits you to spend your cryptocurrency online and in-store and earn rewards with their CRO cryptocurrency. Bitcoin, Litecoin, Ether, Ripple, PAX, TUSD, EOS, and XLM, Up to 8% cryptoback, 100% cryptoback on Spotify, Netflix, Airport Lounge Access, Amazon Prime, 2%, but there are no fees for up to $200-$1000 worth of withdrawals per month (depending on card tier), exchange 55 different crypto assets on an exchange, borrow or lend out various cryptocurrencies, Learn more about Additionally, there are no fees for shipping or initial setup. This Canadian crypto exchange is based out of Calgary and was launched in 2018. Crypto.com, CRO, and the Crypto.com Visa Card. The crypto Visa card lets you earn back a small percent of your spending in crypto tokens used by Crypto.com, called CRO. This upgrade feature is not available if your submitted address proof is under review. Users who stake more CRO are able to gain access to more and better rewards. What if the CRO price drops 50% during that time (something that has happened in less time in the past)? Nexo - The World's First Instant Crypto Credit Lines™ Nexo made a name for itself as one of … If you want to be able to pay in crypto, then the Binance card might be more what you’re looking for. As mentioned previously, this “fee” could end up being rather substantial. When topping up, your crypto is converted to USD (at current exchange rates, with no fees) and loaded onto the card. There are also other benefits that come with the higher-tier crypto Visa cards including airport lounge access, additional crypto bonuses when paying for Airbnb, Expedia, Netflix, and some other companies as well. There’s very little in the way of requirements for the Crypto Visa card. Please do your own research, make educated financial decisions and consult your Financial Advisor. There are five tiers and each requires you to stake different amounts of CRO for a period of six months where you can’t sell or make any withdrawals. The crypto exchange announced an upcoming Visa card issuance for Canadian citizens. Some crypto debit cards come with attractive rewards and benefits programs that are combined with new experiments in cryptoeconomics that are difficult to understand. Crypto.com Card Review - EVERYTHING You Need to Know! 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. High earn rate; Rebates with popular merchants; No foreign transaction fees; Reasonable way to be introduced to cryptocurrency; You can spend your cryptocurrency with this card; The Crypto.com Visa Card is unique in the sense that it can appeal to both novice and experienced cryptocurrency investors. Yes, the rewards offered by the various Crypto.com prepaid card offerings sound amazing on paper. Frosted Rose Gold and Icy White are two different options for the same tier, as well as Royal Indigo and Jade Green. For Crypto.com Visa cardholders with a NEW delivery address We are not responsible for any investing or trading decisions that you may make based on content that you read on CryptoVantage.com. with your crypto assets. In that sense, this isn’t a regular credit card, where you are charged interest on your purchases until you pay back your balance. The card can be used anywhere a Visa prepaid card can be used. If the transaction amount is more than $25 but less than or equal to $50, the fee is $1.99 CAD. pay in weekly with Crypto Earn. Just get a cryptocurrency debit card and buy also non-virtual goods (coffee, beer, clothes, etc.) 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. In a statement released today, Crypto.com’s co-founder and CEO, Kris Marszalek, said: “Canada is a tech-savvy, innovative country that has always been warm to cryptocurrencies. Market Realist is a registered trademark. The seven Crypto.com Visa card options are Obsidian, Frosted Rose Gold, Icy White, Royal Indigo, Jade Green, Ruby Steel, and Midnight Blue. However, users must consider the fact that they’re forced to hold the CRO token in order to gain access to those rewards. Instead, if you want to get paid in crypto for making purchases in fiat, the Crypto.com Visa card makes more sense for you. In contrast, others give you various crypto rewards and incentives. Offers may be subject to change without notice. These discounts increase depending on the card tier. Crypto.com and Crypto.com Visa Card Review 2021 Crypto.com (formally known as Monaco) is an all-in-one crypto and financial ecosystem built into a single app. Singapore received the card in October 2018 while the United States got the card in July 2019. Disclaimer: CryptoVantage.com does not offer any sort of investment advice. CryptoVantage.com is committed to simplifying cryptocurrency for everyday people. MCO Visa Card owners can spend their card balances from the Crypto.com App. 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. It involves a simple onboarding process. 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. No customer services are available at the moment. Pay for daily expenses with crypto using the Crypto.com App and dedicated VISA card. What happens if the value of CRO goes down? The forthcoming Crypto.com Visa cards for Canadian citizens are reportedly coming early next year and are considered another step in the country’s recent turn towards cryptocurrency adoption. These seven cards represent five different tiers. With more than three million users worldwide, Crypto.com offers an extensive list of products, including multi-currency Visa cards with cashback on spending, interest on savings, non-custodial wallets, and an excellent all-around trading platform with competitive rates. I'm one of a thousand investors in Crypto.com who lost a super large amount when purchasing several cryptos last night especially the Shiba Inu coin. Lounge Key airport lounge access is also made available to users of the top two card tiers. Card holders are also able to get substantial discounts on ATM and interbank exchange fees. The Crypto.com CRO Visa card is a metal prepaid card that can be periodically topped up, making it easier and more rewarding to spend cryptocurrency. Since both are partnered with Visa, both cards will be accepted by places around the world that take accept Visa cards. Here are some key facts: Crypto Cards in Canada aren’t really credit cards While you’ll find a Visa badge on most Crypto Cards available in Canada – like the Cryptodotcom Visa – they’re not in fact credit cards but prepaid cards. There is no monthly or annual fee associated with the Crypto.com Visa cards. Space Grime Crypto Seems Tailor-Made to Attract Elon Musk, Buying SafeMoon on BitMart Helps Investors Get Around Binance. Your new Crypto.com Visa card will have a different number. It should go without saying that you can also use the Crypto.com Visa card pretty much anywhere that accepts Visa. All Rights Reserved. For many people, finding a card that simply allows the conversion of Bitcoin into a spendable prepaid Visa card … The main requirement will be that you stake your CRO into the platform. While there isn't an annual fee involved in signing up for this card, what sets it apart is that the percentage of rewards you receive depends on how much crypto you “stake” with Crypto.com. The company behind the Crypto.com Visa Card has produced a very helpful overview, showing the benefits from each and every one of the card types. The different card levels bring different benefits. NDAX offers a number of different ways to fund your trading account including Interac, Direct Wire Transfer, Bank Transfer, Debit Card & Credit Card. Crypto.com Visa card. Crypto.com’s MCO Visa card (formerly the Monaco Card) is quasi-global, in the sense that it’s available in the U.S., Europe and many countries in APAC. The main difference between the two is that the Binance card lets you pay for everyday purchases directly from your crypto balance. Wirex. Here’s another Visa-backed card that you preload with your crypto. 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. Please wait for the review to be completed before upgrading. Please update related payment information accordingly i.e. Crypto.com App - Buy and sell over 80 cryptocurrencies with fiat at their true cost. However, it should be noted that not all crypto assets are available as deposit options for the prepaid cards in all 50 states. Benefits are improved with each higher tier, but since the MCO token is now valued over $5 (as of April 2020) it can be a bit pricey to get to the Rose Gold and Icy White tiers (5,000 MCO), not to mention the top Obsidian Black tier (50,000 MCO). This is a review of MCO Visa Card – one of the many The blog post revealed that Canadian users interested in owning an MCO Visa card would have to make reservations using the Crypto.com app. The next closest thing that people compare the Crypto Visa card to is another Visa card issued by Binance. Of course it could also rise and you’d actually increase your holdings. The app provides users with total control of their funds. There are already millions of people using these new crypto credit cards all over the world. However, these discounts are limited. It supports a decent list of … If playback doesn't begin shortly, try restarting your device. Deposit crypto and earn up to 12% p.a. Users who wish to gain access to the best incentives and rewards from various Crypto.com prepaid cards must be willing to stake CRO. The following post is a review on the Crypto.com prepaid Visa card in order to give our readers some perspective on how the card operates. Available at 40 million point-of-sale locations around the world, Get 100% cashback on common subscriptions like Netflix and Spotify, CRO must be staked to gain access to the best rewards, There is a $50 fee if you close your account without spending all funds. With the initial tier card coming free of charge anyone living in areas where the card is already shipping can get started with an MCO Visa card. 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. While there are rewards available for users who do not stake CRO, these rewards pale in comparison to what is given to CRO stakers. Spotify, LoungeKey. 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. After SpaceX, Will Elon Musk Let Tesla Accept Dogecoin? The card from Crypto.com also offers something very interesting: a cashback feature. The three tiers require you to stake 50,000 CRO, 500,000 CRO, and 5 million CRO, respectively. The lowest level is the Midnight Blue card, which requires no stake and gives you 1 percent back. Crypto.com review: key features. This card has been making quite a buzz in the community, and in this review, we will weigh the pros and cons of the crypto debit card, an overview of its highlighted features, and learn how it works to provide convenience to bitcoin users. CryptoVantage Staff, 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. The Crypto.com Visa card is one part of the greater Crypto.com platform and ecosystem. 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. A Bitcoin debit card is a debit card linked to your cryptocurrency balance. We may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners. A crypto wallet, where you store your cryptocurrencies; a fiat wallet, where you store fiat currencies for buying/selling crypto; and a card wallet, which your MCO Visa draws from when making purchases. Affiliate Disclosure: Please note that some links on CryptoVantage.com are affiliate links. 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