Crypto.com is one of the leading cryptocurrency platforms, offering several crypto solutions. If you’re looking for a crypto card, you might have heard about their Visa Card and are now curious about it. Well, we are here to help you out. In this Crypto.com Visa Card review, we’ve explained its benefits, rewards, tiers, drawbacks, and alternatives. Ready to learn them all? Let’s Start!
Crypto.com is (as the name suggests) a cryptocurrency platform that offers multiple crypto services. These include digital wallets, crypto tokens, rewards-based programs, DeFi, etc. Their visa card is one of those exciting services.
Kris Marszalek, Bobby Bao, and Rafael Melo founded the platform in 2016. But, at the time of writing, the company has more than 80 million registered users worldwide, benefiting from its extensive online crypto trading and investing opportunities.
The platform has designed a prepaid debit card specifically for crypto enthusiasts. Like the traditional prepaid cards, it also works by topping the card with crypto funds and spending them on other platforms.
To use the Crypto.com Visa Card, you must transfer funds using a bank account, debit or credit card, or cryptocurrency transfer. Then, these funds change into crypto assets, allowing you to use the card in any store worldwide.
You can use these prepaid cards with over 15 popular cryptocurrencies for daily purchases. Moreover, you can also use your crypto card for purchasing and spending above 20 supported fiat currencies. So, it offers a diverse range of benefits. But it’s only the start. Keep reading the Crypto.com Visa card review and learn about the perks.
Crypto.com is available in various tiers. Usually, these tiers offer benefits on the added funds staked in the Crypto.com account for at least six months. So, you will need to hold your CRO tokens in your digital wallet to order these cards. Every tier provides excellent benefits and rewards to its users. Below, we’ve explained each level of these cards with their individual benefits, limitations, and several opportunities:
Midnight Blue is the tier-one basic card you can use for free. Since it is the lowest level of the cards you can get, it doesn’t require any staking lockup amount.
It is the least beneficial card that doesn’t offer many features. The fact that it is free makes it the least favorable choice. However, it still offers you some perks and rewards you can use on the go. So, the card is not entirely useless at all.
For instance, you have free ATM withdrawals for up to $200 once a month. However, the monthly withdrawal limit is only $ 5,000, and you can only top-up the card with $25,000.
Midnight Blue is perfect for testing the waters and checking whether the Crypto.com visa card services are tremendous or suitable for your crypto card requirements. Since you can get this card for free, there’s nothing to worry about before ordering it.
Ruby Steel is a second-level Visa card you can order if you hold at least $400 worth of CRO in your Crypto.com wallet. The visa card offers only 1% CRO rewards on the holding amount. However, these rewards are capped at only $25 monthly CRO.
It offers several benefits, such as monthly reimbursement for Spotify subscriptions for six months. On the other hand, the free ATM withdrawal limit doubles to up to $400 for a month. Likewise, the total withdrawals also increase to up to $10,000 monthly. But the top-up amount remains the same as Midnight Blue, i.e., $25,000.
At the third tier, you get two options to choose from. You can select Royal Indigo or Jade Green, whichever suits your aesthetics. However, the CRO staking requirement for both cards is $4000. You can also enjoy up to 2% CRO staking rewards, but their monthly cap is only $50.
Its additional benefits include monthly reimbursements for Spotify and Netflix subscriptions for six months. It also gives you free airport lounge access. As far as free ATM withdrawal is concerned, it increases to $800. The rest of the benefits remain the same.
Next, we have Frosted Rose Gold and Icy White cards, both standing at a position of fourth tier. You must hold $40,000 worth of CRO in your Crypto.com wallet to get any of these cards. Like tier three, these cards are also the same in perks and benefits, only different in color.
However, their perks are somewhat attractive. You can avail of 3% of CRO staking rewards with no monthly cap limit. Additionally, you will get the reimbursement of Spotify, Netflix, Amazon Prime, and Expedia for six months. Moreover, you can also earn bonus rewards with exclusive merchandise packs.
Regarding the ATM withdrawal limits, the total monthly withdrawals and top-up limits are the same at $10,000 and $25,000, respectively. However, the free ATM withdrawals reach up to $1,000 per month.
It is the highest-tier card in this Crypto.com Visa card review and one of the paramount premium cards among many platforms. But the luxury also comes with a price, as you must hold a massive $400,000 worth of CRO tokens in your Crypto.com digital wallet to order this card. Obsidian mostly shares its perks with the tier-four cards, but it also has some other magic up its sleeves.
Obsidian gives you CRO staking rewards of up to 5% with no monthly cap limit. Moreover, you can have reimbursements for several subscriptions, such as Spotify, Netflix, Expedia, Amazon Prime, and Airbnb. You can have airport lounge access with one additional guest.
Moreover, you can access invitations to the platform’s private crypto events. It is available for Icy White and Rose Gold holders, but Obsidian holders get a VIP protocol. But that’s not all. You can unlock exclusive luxuries if you fly with one of Crypto.com’s partnered private jet companies.
All the benefits and rewards earned as a CRO are automatically deposited into the Crypto.com wallet. Some Merchant Category Codes do not support the rewards, such as purchases done for loan payments or insurance, which have restricted potential earnings.
However, all of the rewards earned as CRO will vary. It would help to stay strategic while withdrawing because cryptocurrency rates are dynamic. It will help you to get the maximum crypto value. You can also use crypto calculators for better price estimations according to current market values.
As you know, different cards offer different subscription reimbursements. Here, we’ve explained those rewards with some additional details. First, the Private Members of the Frosted Rose Gold, Icy White, and Obsidian cards can get one monthly reimbursement for every merchant. In comparison, other cards are eligible for reimbursement for card ownership for six months. The card rates for every month are capped at:
Although we’ve mentioned several card benefits, they are not all the benefits you can get. In this Crypto.com Visa card review, we’ve listed some more benefits the platform offers its users. These are described below:
The cardholders of Obsidian, Rose Gold, and Icy White are among the premium users of the platforms. There’s no chance the team doesn’t have some additional perks for these elite users. So, they can earn additional crypto interest annually of 8% on the fixed deposits. This amount is paid in CRO, but the term does not apply to the CRO deposits.
Moreover, their account limits will be increased. The Frosted Gold or Icy White card holders can enjoy an account limit of $1 million, while the amount doubles and reaches $2 million for Obsidian holders. For the rest of the Crypto.com Visa card holders, the crypto earn account limit is only fixed at half a million dollars.
While holding a Crypto.com Visa card, you don’t need to worry about paying a monthly or annual maintenance fee. Several crypto card providers are charging a maintenance fee to use the card, which is either charged every month or a hefty amount each year. However, Crypto.com frees its users from the hassle and doesn’t charge anything for the maintenance.
The airport lounge access is available for every cardholder except for Midnight Blue and Ruby Steel. Besides Royal Indigo & Jade Green, the other cardholders can bring one more guest to the airport lounges for premium and luxurious benefits. The other tier three holders will have to pay a $32 additional fee for each guest to get the privilege. This particular benefit has the following features:
Crypto.com has a native token named Crone (CRO). Its users can use it to avail of several benefits and order its crypto cards (besides Midnight Blue). And since this CRO has a proof of stake consensus mechanism, you can stake them for passive income and other platform advantages.
Staking CRO means you have to lock the coins to get the rewards, and during this lock time, you won’t be able to transfer or trade this Crypto.com coin. The lock-up periods vary according to the coin and are defined by the protocols. It may vary from a few hours to a few days or months. But for some benefits, its minimum time duration is six months.
After reading all these benefits, you might be tempted to get a card. So, we don’t just have a Crypto.com Visa card review for you, but we will also tell you how to get one. Below, we’ve mentioned each of those steps in detail.
If you don’t have an account, the first step is registering on the platform to order the card. Unfortunately, the platform has no option for account creation through their website. So, you will need to download their application on your mobile phone.
Luckily, they have an app for Android and iOS platforms, which you can download from the Play Store and App Store, respectively. Once you download the app, launch it and move on to the next step.
Once the application is downloaded, you need to complete the KYC. After opening the account will take you directly to the KYC verification process. Fill in the form with the accurate information and follow the steps shown. You must provide personal information such as name, date of birth, email, phone number, ID card, photo, and address. Once you’ve completed the verification, you can apply for the card.
After getting into your application’s dashboard, click on the Card tab. Right now, we are guiding you through ordering Midnight Blue, as it is free, and you can order it the moment you create a verified account. You can also apply for the higher cards, but for that purpose, you will need to hold a sufficient CRO amount in your wallet for six months.
Otherwise, they also follow the same process as the tier-1 card. Follow the steps below to order them or the Blue.
After you enter the cards tab, select the preferred card tier according to your choice and lock up CRO (if any). Fill up the form, follow the instructions, and agree to the T&C box. Double-check your delivery address to receive the card at home.
It will be delivered on time (based on your region). The company will notify you via email or message about the successful shipment. You can check the card issue status on the reservation page to track your delivery.
The shipping of the Crypto.com Visa Card is only available in the US, Singapore, Canada, the European Union, and Asia Pacific. Users from each region will get the cards according to their delivery time, which is:
While the cards have many benefits, they also have limitations and drawbacks. We dug deep into the restrictions for this Crypto.com Visa card review and briefly explained each below. So, make sure you factor in these aspects, too.
Although crypto.com allows you to withdraw up to $10,000 monthly, the limit is relatively low. Because it is a fixed amount for every card (except Midnight Blue), the higher-tier cardholders do not have much leverage in withdrawing funds. On the other hand, several other crypto-card providers offer even higher withdrawal limits.
It may grant you several advantages, but their rewards system is not versatile and functional. For example, if you want loan payments, insurance payments, or want to enroll in installment plans for higher-earning purchases, you cannot do them all.
The Crypto.com reward system is also somewhat complex. It offers several wallet features that may overwhelm beginners. Moreover, they also have limited customer support and lack the essential phone call service, making it difficult for beginners to manage.
The great thing about Crypto.com Visa cards is that they don’t charge a maintenance fee. However, if you don’t perform any financial activity from the card for 12 months, it will start charging you an inactivity fee. It is $4.95 per month until you make any transaction from the card. It will reset the 12-month time.
If the drawbacks mentioned above put your mind off Crypto.com and you think the platform is not suitable for your needs, there are also excellent alternatives. These crypto cards have some of the most exciting features that amazingly replace the Crypto.com needs. Their details are as follows:
PlasBit is an online crypto bank that provides several solutions to its users worldwide. A versatile crypto card is one of those services that allows users to hold and spend crypto coins. Interestingly, it doesn’t matter which cryptocurrency you have in your digital wallet. When you use the card anywhere in the world, your cryptocurrency will convert to that region’s supported fiat.
PlasBit offers you three types of crypto cards, i.e., Virtual, Plastic, and Metal. Each card has different perks and allows varied limits.
Coinbase is another popular and reputable cryptocurrency platform that enables you to buy and sell crypto coins. The platform offers a Visa debit card, accepted by more than 40 million merchants worldwide. Moreover, it offers crypto rewards on purchases. This means if you spend crypto with a Coinbase Card, you will get rewards too.
To secure the user’s digital assets, Coinbase offers several security measures, such as 2-factor authentication, pin changing, and card freezing. Unfortunately, it has no other variants and only offers one card for all perks. So, you can only get the features fixed from the platform.
Nexo is a renowned crypto platform that aims to replace conventional banking with the Nexo Card. It provides several features for interest accounts, crypto loans, crypto debit cards, and exchanges.
Unlike other crypto cards, Nexo Card offers 0% interest (under specific conditions) and doesn’t have a minimum monthly repayment. As discussed earlier, its primary focus is to provide crypto loans. So, most people use it to get loans or similar services.
Although we’ve discussed the fee structure of multiple tiers, we’ve mentioned it in more detail here. Crypto.com offers discounted trading fees when you have $1,000 in your wallet. It is when traders holding $250,000 in monthly volume will have to pay 0.0728%. Sometimes, the rates decrease with much larger stakes.
Despite all these fees, there are no additional fees, and Crypto.com Visa Card Review offers competitive prices. On the other hand, ATM fees are waived every month, and their dollar amount varies according to the card. When the limit is reached, fees increase on the withdrawal up to 2%.
The customer support service is available for immediate assistance via email, live chat, or a help page. The help page leads to the FAQs or the community forums, which offer advice from experts. However, Crypto.com does not support phone assistance for customers. At the same time, several users get immediate help through the community. Account issues or concerns can only be resolved through email or chat.
However, its customers have provided satisfactory reviews. The platform has been quick in its customer care services. So, if you have any complaints, confusion, or queries about their crypto cards, you will get a response immediately.
Crypto.com has established itself as a reputable brand. The platform offers prepaid debit cards, which offer unique advantages to facilitate its users further. You can avail of their five-tiered cards, each with distinctive features. Our Crypto.com Visa card review also gives you some of its alternatives if you find their drawbacks discouraging.
So, it’s up to you. You can get these cards if you save up to the specific CRO amount for six months. Or you can try the tier-1 for testing. We hope you find the detailed review valuable. Check out our other blogs for more information on crypto cards.