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Roy Bhasin warns that most crypto card cashback programs perform poorly when used for transactions in currencies other than USD or EUR.
He points out that foreign exchange fees and spending caps can significantly reduce the benefits of these programs, although he notes that there are some notable exceptions.
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Bhasin has previously argued that blockchains can maintain value without relying on meme or alt coin activity. In an earlier commentary, he noted that early bull market optimism often brings increased overtrading risks for crypto investors. His recent observations on crypto card rewards add to this pattern of highlighting structural challenges in the sector.