Crypto.com Card Review | Key Characteristics And Fees
The Crypto.com Card was developed by the eponymous exchange specifically for those users who are looking for ways to dispose of their digital assets as easily as fiat money. Plus, the card opens up a host of other perks for cardholders, from cashback on subscriptions to various popular platforms to free ATM withdrawals.
The Crypto.com Card, an innovative financial tool developed by the prominent cryptocurrency exchange Crypto.com, is crafted to bridge the gap between digital assets and traditional spending habits. This card not only allows users to spend their cryptocurrencies with the same ease as fiat currency but also offers an array of enticing benefits, making it a must-have for crypto enthusiasts. TU experts talked about card levels, fees, limits and geography of Crypto.com Card use in this article, so read to the end to learn more.
-
Is the Crypto.com card worth it?
Yes, the Crypto.com Card is worth its money. Depending on the level of the card, you can expect: 100% cashback on Amazon Prime, Netflix and Spotify subscriptions, 10% cashback on Airbnb for Obsidian cardholders, airport lounge access, bonus rewards, an exclusive merch bundle, a partnership with Private Jet, free ATM withdrawals up to a certain amount each month, and more.
-
How do I get my Crypto.com card?
To get cards of Ruby Steel, Royal Indigo, Jade Green, Frosted Rose Gold, Icy White and Obsidian categories, a user needs to create an account on Crypto.com, go through the verification procedure, buy CRO tokens (the number of tokens depends on the level of the card you are counting on), start staking them or block the tokens for 180 days. Only after that will you be able to claim the card. The Midnight Blue card is available without the need for staking/blocking.
-
Is Crypto.com card free?
Crypto.com offers a free tier of the card with a limited set of benefits - Midnight Blue. In other cases, to get the card you need to fulfill the main condition - purchase CRO tokens (the current value of one is currently 0.13 USD) and block them for 180 days. For example, to become an Obsidian premium cardholder, you will have to invest $400,000 in CRO tokens for staking.
-
Can I use my Crypto.com card internationally?
The Crypto.com website says cardholders can pay with the card at more than 40 million merchants with the VISA logo and many online stores.
What is a Crypto.com card?
The Crypto.com safe card is a Visa debit card that allows holders to spend their crypto assets in everyday transactions in the same way as if they were paying with a traditional credit or debit card.
The card was launched by Singapore-based cryptocurrency exchange Crypto.com with the aim of bridging the gap between the world of digital assets and the more familiar paper money.
The Crypto.com card offers different tiers of cards depending on the amount of CRO tokens staked. Premium cardholders, in addition to CRO rewards, can expect cashback, exclusive merchandise, access to OTC trading, higher free withdrawal limits, and other perks.
What you need to know about the Crypto.com card?
Below we have outlined some of the main points concerning the use of Crypto.com card, namely: the list of supported cryptocurrencies, types of cards, commissions, peculiarities of verification, real-time conversion, integration of the card with other applications and services.
-
Supported сryptocurrencies. The card supports many cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC) and other digital assets traded on Crypto.com + local fiat currencies for supported countries.
-
Real-time conversion. Every time you pay with your Crypto.com card, your digital assets are converted to fiat money in real-time at the market price. Consequently, cardholders don't need to sell cryptocurrency in advance or pre-fill the card.
-
Crypto.com account integration. The card integrates with your account in the Crypto.com app, so you can easily top up your balance. You can also link the card to a digital wallet (Apple Pay, Google Pay, Samsung Pay) to make the payment process as easy as possible.
-
Card types. The website describes several levels of cards - Midnight Blue, Ruby Steel, Royal Indigo & Jade Green, Frosted Rose Gold & Icy White, Obsidian. The most advantages are open to the owners of the Obsidian card. To get it, you need to make a deposit of 400,000 dollars and purchase CRO tokens with this money.
-
Global acceptance. Crypto.com card is quoted almost all over the world. Fees. The debit/credit card deposit fee is 1%. ATM withdrawal fee is 2% for amounts exceeding the monthly free withdrawal limit. Reissuing the card will cost you 50 euros. Crypto.com charges €5 per month for inactivity after 12 months of inactivity. The Midnight Blue, Ruby Steel, Royal Indigo and Jade Green cards charge a 0.2% (UK and EU) and 2% (other countries) fee for all purchases and ATM withdrawals not in GBP and EUR.
-
KYC verification. Account verification is a prerequisite for card issuance.
Is Crypto.com card available worldwide?
With the Crypto.com Card, you can withdraw cash virtually anywhere in the world and at any ATM with a VISA or VISA Plus logo, and pay with the card at countless online stores and 40 million point-of-sale (POS) locations.
How to get a Crypto.com card
To get the card you must take the following steps: register, verify, select the card type, buy the appropriate number of CRO tokens and block them for 180 days.
-
Complete the registration process
-
Verify
-
Apply
Download the Crypto.com application for Android or iPhone. Next, enter your email address on a special line. An email will be sent to this address with a link that you need to follow to confirm the authenticity of the email.
Crypto.com app
Crypto.com app
Proceed to verify your phone number as the next step.
Then you will be asked to come up with a password that will be used to unlock and confirm transfers.
The last step is account verification to confirm your identity and protect your personal data. To do this, you need to provide an image of a state-issued ID card or driver's license.
After creating an account and verification, go to the “Map” section, which is located in the bottom right corner of the application.
Crypto.com app
Select the desired card level and lock the appropriate CRO equivalent. Also follow the 3 steps:
-
read and accept the Terms and Conditions document;
-
make sure you have enough CRO tokens in your wallet to block for 180 days;
-
send and confirm your shipping address (use utility bills, correspondence from a government department or agency, a statement from a bank or other financial institution, and a valid government ID to confirm your residential address).
You will be able to use the virtual card immediately, while the physical card will be delivered to your address within 3-20 calendar days from the date of application (depending on your country of residence).
How Crypto.com card works
The Crypto.com card works like a prepaid debit card. That is, the user first needs to top up the card to use it to make payments. This can be done through the Crypto.com Card app using fiat or digital currency. The card is automatically linked to a Crypto.com account, where you can check your balance, track transactions, change PINs and perform other actions.
Crypto.com user account
You can also link your card to Apple Pay or Google Pay for greater convenience. In addition to paying for purchases or services, you can use it to withdraw cash from ATMs. The monthly withdrawal limit reaches $10,000, and you can withdraw up to $1,000 free of charge every month.
Crypto.com card benefits
As written above, several levels of Crypto.com cards are provided - Midnight Blue, Ruby Steel, Royal Indigo & Jade Green, Frosted Rose Gold & Icy White, Obsidian. The list of Crypto.com card benefits varies depending on the tier selected. For example, Midnight Blue holders can withdraw $200 monthly from the ATM with no fees. All subsequent withdrawals are subject to 2% Crypto.com fees.
More details now:
-
Airport lounge access is a privilege for Obsidian, Rose Gold and Icy White, Royal Indigo and Jade Green cardholders. These tiers allow cardholders to bring one additional guest for free (Royal Indigo and Jade Green do not include a complimentary guest).
-
Bonus rewards, exclusive merch and Crypto.com Private - these benefits are for Obsidian, Rose Gold and Icy White cardholders.
Crypto.com Private should be discussed in more detail. This option allows: priority access to Crypto.com research reports, participation in industry events, exclusive Visa benefits, access to over-the-counter (OTC) CRO block trades, and inheritance in the form of Crypto.com assets (meaning that in the event of a user's death, the beneficiaries must contact the company, which in turn will advise them on the requirements of the relevant jurisdiction).
-
Cardholders (depending on the tier) also get discounts on X.com, Spotify, Netflix, Expedia, Airbnb, and Amazon Prime purchases.
-
In terms of limits and fees, cardholders can withdraw between $200 and $1,000 at the ATM each month with no fees. Monthly withdrawal limits range from $5,000 (for Midnight Blue cardholders) to $10,000 (for everyone else).
In addition, cardholders can look forward to CRO lock rewards, which are paid weekly. Rates are as follows:
-
8% APR for Private members with Obsidian, Icy White or Frosted Rose Gold cards;
-
4% APR for Jade Green or Royal Indigo cardholders.
After 180 days, you can unlock your tokens.
Expert Opinion
Overall, in my opinion, the Crypto.com Card is a great choice for users who want to have unfettered access to their digital assets while using them for everyday spending. However, it is important to clarify here that you need to spend an impressive amount of money to get the extended list of privileges. For example, to get an Obsidian-level card, which has everything from 5% CRO rewards to access to an airport lounge with +1 guest, you need to stack $400,000 worth of CRO tokens. But the minimum level of the card allows users to withdraw only $5,000 from ATMs each month. But you don't need to make any investments in tokens to get them, so it is a viable option to cover basic financial needs.
Unfortunately, the amount you need to invest makes the most premium card irrelevant to all but the most dedicated cryptocurrency fans. In fact, the two highest tiers, Obsidian and Frosted Rose Gold & Icy White, are out of reach for most, which means the lion's share of the advertised benefits automatically fall away.
Conclusion: should I get a Crypto.com card?
Should you consider getting a Crypto.com Card? Definitely yes, but not for the sake of cashback, merch and access to Crypto.com Private, but for the sake of being able to easily dispose of your digital assets, including paying with them for purchases or services, because Crypto.com Card can be used almost anywhere in the world.
But not without disadvantages. For example, Crypto.com Card offers rather low limits for free withdrawals from ATMs even at Obsidian level. Also, the Crypto.com Card charges various fees, including inactivity fees and card reissue fees.
Related Articles
Team that worked on the article
Anastasiia has 17 years of experience in finance and content marketing. She believes that the support of information and expert opinion is very important for the success of investors and new traders. She is ready to share her knowledge of forex, stock and cryptocurrency trading, as well as help choose the right investment products and strategies to achieve active or passive income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).