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Crypto debit cards latest?

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    #272
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Swipe is getting a bit confusing as they keep changing and discontinuing offers: https://medium.com/swipe/swipe-slate-8-cashback-upgrades-migration-to-binance-card-platform-with-sxp-reward-to-sxp-aa2c366faff6

    Looks like to me they are slowly killing it as they want people to go for a Binance card instead?


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    #273
    Str8outtaWuhan
    Registered Users Posts: 968 ✭✭✭Str8outtaWuhan


    Bob24 wrote: »
    Swipe is getting a bit confusing as they keep changing and discontinuing offers: https://medium.com/swipe/swipe-slate-8-cashback-upgrades-migration-to-binance-card-platform-with-sxp-reward-to-sxp-aa2c366faff6

    Looks like to me they are slowly killing it as they want people to go for a Binance card instead?
    whats the story with the binance card, anyone have one?


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    #274
    banie01
    Registered Users Posts: 16,570 ✭✭✭✭banie01


    Str8outtaWuhan wrote: »
    whats the story with the binance card, anyone have one?

    I keep getting an "unable to bind swipe account" error whenever I try to complete an application.


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    #275
    Ste05
    Registered Users Posts: 7,537 ✭✭✭Ste05


    Str8outtaWuhan wrote: »
    whats the story with the binance card, anyone have one?
    I signed up and got a virtual card number instantly, don't know when the physical card will arrive, I was able to successfully add it to my Curve card, but haven't used it yet, as my Average BNB balance for the last 30 days wasn't over 50, so bought more BNB, once my average gets over 50 I'll switch to this as my daily driver instead of my CDC card which I have Jade on too.


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    #276
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    Crypto.com have suddenly stopped giving cashback on curve transactions without any notice. Bad form!


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    #277
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    Dear C,

    Thank you for your confirmation.

    We can confirm that Curve has been excluded from our cashback programme effective 09/10/2020, and all transactions to the respective merchant are now treated as non-eligible, as a result of a recent business decision.

    As highlighted in our terms, we reserve the right to modify our incentive programmes at any time (including but not limited to any kind of reward, cashback or referral programmes).

    While we understand that this may have an effect on customers who are using their Crypto.com Visa card through the Curve app, we hope that the rest of our incentives within the programme will still prove to be beneficial.
    Best regards,
    The Crypto.com Team


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    #278
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Gooey Looey wrote: »
    Crypto.com have suddenly stopped giving cashback on curve transactions without any notice. Bad form!

    Te me it isn't much of a surprise (and I think I had warned before about Curve not being sustainable).

    I remember reading somewhere on their website something in the lines of cashback not applying for payments made to another payment institution (this can be applied to Curve, and they could also use this to restrict cashback with the likes of Paypal, or topping-up a Revolut account with a CDC card).

    I think there is a clear reason for this: with any such services, you can potentially blur what is happening with actual transactions and generate bogus ones to farm some undue cashback. With something like Revolut you could even create a loop whereby you are using your CDC card to top-up your Revolut account 1000 euros (and get some cashback for this), then use your Revolut card to top-up your CDC account 1000 euros (i.e. going back to the original balances), rinse, and repeat to get another round of cashback.

    I am not sure Curve is such a great risk for them to be defrauded of undue cahsback (Revolut definitely is one), but there might be similar things you could do and if I was them I think I would have blocked it even earlier.


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    #279
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    Not all places accept the CDC card as it's prepaid. I've had issues with some merchants. Curve also works with Google Pay. These are the reasons I used curve. I also don't want to be carrying a physical card and they don't support Google pay in the EU. Curve smoothed out the CDC card, turned out into a normal MasterCard I could use as a daily driver


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    #280
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Gooey Looey wrote: »
    Not all places accept the CDC card as it's prepaid. I've had issues with some merchants. Curve also works with Google Pay. These are the reasons I used curve. I also don't want to be carrying a physical card and they don't support Google pay in the EU. Curve smoothed out the CDC card, turned out into a normal MasterCard I could use as a daily driver

    Ok yes these are all fair points and I get that many people have been using a CDC card with their Curve card for legitimate reasons, and without trying to defraud CDC in any way.

    Just trying to explain their possible rationale for restricting cashback on these. Basically it comes down to not giving cashback when you could be generating bogus transactions without really buying anything, just for the purpose of getting that cashback. This is also why they don’t pay cashback on ATM withdrawals (and actually a Curve card could possibly be used to go around this as I suspect a withdrawal with the Curve card is charged as a POS transaction to the CDC card).

    At the end of the day, both in their interest and every user’s interest they need to block any avenue to abuse the cashback system (otherwise it threatens the sustainability of the whole thing), and something like Curve is a potential avenue whereby it is hard to tell appart genuine use cases and abuse. IMO letting you use the Curve card if you want to but not paying cashback on those transactions is a reasonable compromise.

    Btw, I double-checked the wording and all along their website has been stating that “Transactions on digital wallets, digital banking services, crypto exchanges, stored value products, money remittance services are excluded from the CRO Rewards programme.”. It is pretty easy to argue Curve fits into “digital banking services”.


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    #281
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    I know why they did it, it's the fact they just cancelled it without any contact or announcement. It would be different if they had Google pay or some other missing features ready to announce. I've decided to withdraw my stake when it expires. I no longer trust them, it's just dishonest move after dishonest move. Looking for an alternative, Binance?


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    #282
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    I think Binance is the most solid alternative yes (the Binance card itself, not the Swipe one which I think they will kill eventually). It is newer so has less of a track record, but being a major player Binance has to make sure it is decent and sustainable enough (as opposed to small players which are more risky in terms of sustainability).

    Having said that if you are making purchases at merchants which are refusing your CDC card because it is prepaid, I assume you will have the same issue with the Binance card (and that they will eventually also exclude cash back for transactions with digital money services such as Curve).


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    #283
    suave.4u
    Registered Users Posts: 966 ✭✭✭suave.4u


    This is bad news. Some merchants do not accept CDC, but via curve it works fine. eg: Gomo.
    Now no cashback for such transactions.
    Looks like they have good user base, so some perks are decreasing:
    -> referral down to Eur 25
    -> Earn interest down; no idea what the supercharger interest would be
    -> now Curve support gone


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    #284
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    They've reversed their decision (until Google/Apple pay is available) after the outcry on Reddit and Telegram


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    #285
    Irish_rat
    Registered Users Posts: 2,555 ✭✭✭Irish_rat


    Anyone with experience of using the binance card? Thinking of ordering it but holding that much BNB on their exchange for the cash back rates seems a bit much. What places would it be compatible


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    #286
    suave.4u
    Registered Users Posts: 966 ✭✭✭suave.4u


    Gooey Looey wrote: »
    They've reversed their decision (until Google/Apple pay is available) after the outcry on Reddit and Telegram

    excellent!
    CDC is superb.


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    #287
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    One of the loopholes people have been using with Curve is using Curve for all their transactions before they receive their CDC card then using the go back in time feature to change to the CDC card once it arrives to get the cashback. Go back in time is valid for 90 days


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    #288
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    More sudden unannounced changes from CDC. Staking CRO for 6 months on the exchange gone from 20% to 6%. Staking CRO for 3 months in earn in the app gone from 16% to 6%. When my 10k CRO stake expires in 166 days I will only get 6% compared to the current 16%. It's no longer worth it, I'll be selling as soon as my stake expires, if it's worth anything by then.


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    #289
    suave.4u
    Registered Users Posts: 966 ✭✭✭suave.4u


    Gooey Looey wrote: »
    More sudden unannounced changes from CDC. Staking CRO for 6 months on the exchange gone from 20% to 6%. Staking CRO for 3 months in earn in the app gone from 16% to 6%. When my 10k CRO stake expires in 166 days I will only get 6% compared to the current 16%. It's no longer worth it, I'll be selling as soon as my stake expires, if it's worth anything by then.

    really bad news; maybe it is a push for supercharger.
    The CEO said on twitter that supercharger APY would be 22%:

    https://twitter.com/Kris_HK/status/1315999300673892353?s=19


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    #290
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Yeah I saw that - they'll be alienating a lot of users with this as I suspect pretty much everyone has CROs either in Earn, staked for the card, or staked on the Exchange and all of these are affected.

    As you said this is likely to promote Supercharger, The Syndicate, and DeFi Swap. But IMO:
    1) It is starting to get complicated/annoying to follow their changing offers and some people will get tired
    2) I believe none of these are available in the US (not sure about Asian markets), so US users don't have anywhere else to go for better yields

    I guess we all knew from the start that these interest rates were effectively airdrops to promote the token and the ecosystem rather than actual sustainable interests yield. But the sudden announcement will get people pissed-off.


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    #291
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    Anyone using Celsius?


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    #292
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Gooey Looey wrote: »
    Anyone using Celsius?

    Celsius works perfectly fine for depositing and getting a yield (but of course this only replaces Crypto Earn, not the other features of Crypto.com).

    I personally think the CEO/founder of Celsius is a bit more sound than the one of CDC (Celsius are offering fewer services, but they are focused on delivering their chosen business plan and don't always change marketing promotion schemes to promote new products).

    What you need to know is that yields are changing on a weekly basis depending on market conditions and can vary greatly (currently the are good but at some point they were pretty low compared to CDC for BTC and ETH). But the positive side is that the yields actually seem to be based on the money they are actually making with user deposits rather than a marketing scheme, so possibly more sustainable.

    Also you need to know that to get the best rates you need to have some of their own token (CEL) and get interests paid in that token. And it is arguable wether is is a good time to buy CEL as it just had a long bull run during the De-Fi madness and recently as they announced a partnership with Bitfinx (having said that I think the Bitfinex partnership isn't live yet, don't know what going live will do to the price).


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    #293
    Stormington
    Registered Users Posts: 521 ✭✭✭Stormington


    Gooey Looey wrote: »
    Anyone using Celsius?

    Yes.
    Big fan: I moved a big chunk off CDC and over to Celsius and have received far higher yields than CDC were offering. Some in CEL. Boosted rates are tempting with stablecoins also.
    I have a referral code for $20 bonus if your first deposit is $200 and you do not move the asset for 30 days - feel free to DM.


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    #294
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    Stormington wrote: »
    Yes.
    Big fan: I moved a big chunk off CDC and over to Celsius and have received far higher yields than CDC were offering. Some in CEL. Boosted rates are tempting with stablecoins also.
    I have a referral code for $20 bonus if your first deposit is $200 and you do not move the asset for 30 days - feel free to DM.

    You're too late for referral, I already signed up and used the last one in the referral thread, maybe that was yours.


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    #295
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    CDC are partly reversing their rate changes decision, but it is still far from what it used to be: https://blog.crypto.com/updated-cro-staking-rates/


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    #296
    Shamo
    Registered Users Posts: 801 ✭✭✭Shamo


    I left CRO staking on the 15th as my 6 months was up. No point receiving rewards if your staked value is going to tank. Get to keep the card though at least :)


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    #297
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    CRO has crashed. I'm sorry I upgraded to the 10k jade now as we don't use Netflix and the CRO cashback isn't so great now it's not worth anything. I'm locked in for another 5 and a half months!


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    #298
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Gooey Looey wrote: »
    CRO has crashed. I'm sorry I upgraded to the 10k jade now as we don't use Netflix and the CRO cashback isn't so great now it's not worth anything. I'm locked in for another 5 and a half months!

    And still crashing. Plus on top if this, US users will have their bonus CROs from the MCO swap unlocked in about 2 weeks, if confidence isn't restored by then and they all dump their unlocked coins it could be a blood bath.

    I am still wondering if they are useless at PR or if the interest rate announcement was was a deliberate and calculated move to crash the price.

    There is an AMA with the CEO on Wednesday. Wondering whether he will make an annoucement.


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    #299
    unkel
    Registered Users Posts: 65,053 ✭✭✭✭unkel


    Glad I just went for the free card!


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    #300
    suave.4u
    Registered Users Posts: 966 ✭✭✭suave.4u


    Depends on how you look at it.
    It is a dip, so I upgraded from ruby red to Royal Indigo (3% cashback + netflix + spotify)


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    #301
    Daithi40
    Registered Users Posts: 177 ✭✭Daithi40


    As I mentioned in the first couple of posts, I did end up getting a Wirex card - happy enough with it and the recent roadmaps they have announced. I also got involved in the recent crowdfund, so I should be ahead of general release to get the new mastercard debit card which they start releasing tomorrow i think...

    https://thefintechtimes.com/wirex-breaks-crypto-crowdfunding-record-raising-3-7-million/


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