Crypto debit cards latest?

banie01 · 13-07-2020 3:53pm

SkySter wrote: »

If someone is using another card they're free to post here I guess. I'd be interested if there is someone using another card that they actually think is better?

Crypto.com's product looks the best one out there at the moment. Have had both a Tenx (remember them? ) and Wirex card in the past and both had issues. Having said that, I've yet to actually receive mine!

I have a Coinbase card, that has seen zero use as the whole ecosystem is too fragmented.
Card has an app, Coinbase has an app and then CB pro has an app too...
PITA imo.

stockshares · 13-07-2020 4:02pm

Bob24 wrote: »

I am not using the exchange much and could miss something, but my understanding is that with the exception of having CROs on there for the various benefits it gives (20% interest, cheaper fees, access to syndicate events), there is little point in leaving anything on the exchange which you don't intend to trade in the near future.

Btw, maybe there should be a separate thread for Crypto.com? (recent questions aren't really related to the card)

Gooey Looey wrote: »

Better a mod could rename the thread all things Crypto.com

Apologies lads, Ill keep any future Qs about the Card only.

Gooey Looey · 13-07-2020 4:03pm

stockshares wrote: »

Apologies lads, Ill keep any future Qs about the Card only.

It's no hassle, this is the only thread here about Crypto.com

Bob24 · 13-07-2020 4:04pm

SkySter wrote: »

Crypto.com's product looks the best one out there at the moment. Have had both a Tenx (remember them? ) and Wirex card in the past and both had issues. Having said that, I've yet to actually receive mine!

I also think it is the best, but one “issue” it has is it reliance on Wirecard - which could go dark anytime with no notice. Not really Crypto.com’s fault for being in this situation, but I hope they are working hard to move away from this ASAP.

stockshares · 14-07-2020 11:13am

Crypto.vom have suspended their cards in Singapore. I presume the same will happen everywhere now.

https://twitter.com/cryptocom/status/1282963043995889664?s=19

Bob24 · 14-07-2020 11:42am

stockshares wrote: »

Crypto.vom have suspended their cards in Singapore. I presume the same will happen everywhere now.

They are suspending new cards issuance (existing cards are still working), while they are migrating to a new provider.

This isn't necessarily bad news, as if I am not mistaken Singapore cards are issued by an Asian subsidiary of Wirecard, and it seems like Crypto.com are making a move away from them.

Hopefully they can move away in Europe as well (other regions aren't a problem as I believe only Singapore and Europe rely on Wirecard entities).

Stormington · 15-07-2020 12:53am

Bob24 wrote: »

They are suspending new cards issuance (existing cards are still working), while they are migrating to a new provider.

This isn't necessarily bad news, as if I am not mistaken Singapore cards are issued by an Asian subsidiary of Wirecard, and it seems like Crypto.com are making a move away from them.

Hopefully they can move away in Europe as well (other regions aren't a problem as I believe only Singapore and Europe rely on Wirecard entities).

The only bad news is the massive backlog for free and red cards in the EU & UK.

stockshares · 15-07-2020 10:55am

stockshares wrote: »

Do you know if this Deposit must stay on the Exchange or can it be moved to the App? I've noticed that the MCO bonus does not show up in my account balance on the Exchange.

stockshares wrote: »

I'll give them a shout on chat and post back here later.

I contacted Crypto.com and received the reply below.
"First of all I am very sorry for the delayed response, we are experiencing huge volumes of chat/email requests lately, due to increased interest in our platform.
As for your inquiry - you need to have the deposit in the exchange

Also you may find the following article really helpful:
https://help.crypto.com/en/articles/4090217-2-deposit-bonus"

At the very bottom of the article it says this:
What will happen to my deposit bonus if I withdraw my deposit within the first 180 days before the deposit bonus is unstaked?
To prevent abuse, trading volumes may be monitored during the CRO staking period. If the combined trading volume during this period is not at least 3 times the amount deposited (in USD equivalent value), Crypto.com may withdraw the bonus.

Example: If you've deposited 1,000 USD in crypto, your trading volume within the 180 days needs to be at least 3,000 USD to be credited the deposit bonus at the end of the staking period.

stockshares · 15-07-2020 7:54pm

In August Binance starts rolling out it's debit card in Europe
https://www.cryptoglobe.com/latest/2020/07/binance-rolls-out-crypto-debit-card-in-europe/

banie01 · 17-07-2020 9:44am

banie01 wrote: »

Anyone who applied for their card on/after the 6/6 received it yet?

Received a notification this morning that my card has shipped.

Gooey Looey · 17-07-2020 11:34am

banie01 wrote: »

Received a notification this morning that my card has shipped.

How long was the status on issued, mine went to issued 2 days ago. I only staked a week ago.

banie01 · 17-07-2020 11:44am

Gooey Looey wrote: »

How long was the status on issued, mine went to issued 2 days ago. I only staked a week ago.

I staked MCO for the card 6 weeks ago. The status changed to issued 5 weeks ago.

SkySter · 17-07-2020 12:12pm

banie01 wrote: »

I staked MCO for the card 6 weeks ago. The status changed to issued 5 weeks ago.

Thanks for the update.

Still saying issued with me. I'm on a similar timeframe as you on the staking. Fingers crossed I might see it shipping next week so.

MuffinsDa · 17-07-2020 2:03pm

I've signed up and staked for a red card on June 6th, changed status to issued ages ago but nothing received.

They did not respond to any of my queries since July 1st. Today someone got back saying yes we are aware there's a delay we will let you know when it's shipped.

As far as I can see this is borderline scam / ponzi scheme: take money, delay providing service.
Totally unacceptable. Their volume and other problems is their problem. They are supposed to provide a service in return for me locking up my money there which they are not. Not on! And worse, it's not even possible to get out of it and withdraw now.

I highly advise anyone considering them to stay away from them!

SkySter · 17-07-2020 3:29pm

MuffinsDa wrote: »

I've signed up and staked for a red card on June 6th, changed status to issued ages ago but nothing received.

They did not respond to any of my queries since July 1st. Today someone got back saying yes we are aware there's a delay we will let you know when it's shipped.

As far as I can see this is borderline scam / ponzi scheme: take money, delay providing service.
Totally unacceptable. Their volume and other problems is their problem. They are supposed to provide a service in return for me locking up my money there which they are not. Not on! And worse, it's not even possible to get out of it and withdraw now.

I highly advise anyone considering them to stay away from them!

I'm not here to defend them, but their provider Wirecard was accused of fraud and they had to stop issuing and shipping cards for a period. That wasn't under their control. They're also saying they're looking for another provider.

However on the other side, they really should have given anyone with MCO funds locked in staking the option to bale out. I'd agree with you on that point.
I see on here they've started shipping again so that gives me a degree of comfort this should play out ok. Hopefully I'm not wrong!

el diablo · 17-07-2020 5:04pm

MuffinsDa wrote: »

I've signed up and staked for a red card on June 6th, changed status to issued ages ago but nothing received.

They did not respond to any of my queries since July 1st. Today someone got back saying yes we are aware there's a delay we will let you know when it's shipped.

As far as I can see this is borderline scam / ponzi scheme: take money, delay providing service.
Totally unacceptable. Their volume and other problems is their problem. They are supposed to provide a service in return for me locking up my money there which they are not. Not on! And worse, it's not even possible to get out of it and withdraw now.

I highly advise anyone considering them to stay away from them!

Remove your stake and cancel the card rather than crying about it on the internet.

suave.4u · 17-07-2020 5:10pm

Just read in Reditt that some guy received his card here in Ireland.
Fingers crossed!

stockshares · 18-07-2020 4:52pm

Just pointing out about interest repsayments on Crypto.com flexible plan.

Interest will be paid on the Minimum amount held in the account during the daily timeframe. It will not be paid on the principal deposited.

Example:
Interest calculations take place at UTC 00:00:00 daily.

Fixed term calculation formula for the daily interest

Daily Interest = Principal amount (in original cryptocurrency) x (APR/365)

[(e.g. If you’ve staked MCO Tokens, opted for a 1-month term and deposited 1 BTC, your calculation will be 1 x (6%/365)]

Flexible term calculation formula for the daily interest

Daily Interest = Minimum Daily Balance x (APR/365)

[The minimum daily balance is the minimum balance for the users’ crypto asset under Crypto Earn flexible term between UTC 00:00:00 and UTC 23:59:59 every day]

Note:

Interest for Flexible Term will start to accrue a day after you make a deposit.
APR will change if you choose to stake/unstake MCO in the middle of your deposit term.

stockshares · 18-07-2020 4:55pm

Just pointing out about interest repayments on Crypto.com flexible plan.

Interest will be paid on the Minimum amount held in the account during the daily timeframe. It will not be paid on the principal deposited.

Example
Interest calculations take place at UTC 00:00:00 daily.

Fixed term calculation formula for daily interest

Daily Interest = Principal amount (in original cryptocurrency) x (APR/365)

[(e.g. If you’ve staked MCO Tokens, opted for a 1-month term and deposited 1 BTC, your calculation will be 1 x (6%/365)]

Flexible term calculation formula for daily interest

Daily Interest = Minimum Daily Balance x (APR/365)

[The minimum daily balance is the minimum balance for the users’ crypto asset under Crypto Earn flexible term between UTC 00:00:00 and UTC 23:59:59 every day]

Note:

Interest for Flexible Term will start to accrue a day after you make a deposit.
APR will change if you choose to stake/unstake MCO in the middle of your deposit term.

makeorbrake · 18-07-2020 9:25pm

The interest has been a big draw in these cases. However, make sure that you are all aware that there's rehypothecation at play. That's a practice which was at the heart of the 2008 financial crisis. They will use your funds and implement fractional reserve practices to lend them out multiple times. This is something that Caitlin Long has warned against - that it has the potential to ruin crypto.

She's worked with Wyoming to create a very progressive set of rules for crypto businesses in that state. It means that rehypothication isn't possible there. It won't be possible with the crypto industry bank that she's setting up (Avanti).

I've been very tempted to stick some funds in one of these crypto interest earning products but I just couldn't do it - as the risk is there. To me, some day it's going to go tits up and create a big mess. At least in crypto, there is no lender of last resort so it will be horribly painful for those caught up in it - but it will probably only happen the once.

I don't mean to curb anyones enthusiasm - but it's important that you know the risks you're taking on if you decide to put significant $$$ into any of these products.

Stormington · 18-07-2020 9:58pm

Crypto.com's interest rates are only decent if you have MCO and CRO staked in large amounts.

I've found a place offering 120% APR on Link recently so gave it a spin. It will unlock next week so I'll report back if all goes ok

banie01 · 20-07-2020 9:47am

MCO card arrived this morning, originally staked for on the 06/06.
Really nice card, nice package and already have my Spotify and a few more subs moved over.

Bob24 · 20-07-2020 2:03pm

MasterCard had been rather conservative about working with crypto-related payment cards issuers; but it looks like they are now becoming rather keen about the idea of working with them: https://cointelegraph.com/news/mastercard-expands-cryptocurrency-program-for-crypto-card-issuers

aledoux · 22-07-2020 7:20am

Joined crypto.com end of May and staked 50MCO to order the Ruby Red card and since the price of MCO dropped in June, upgraded to Jade card. The Jade card arrived a few days after the upgrade and a few days before the wirecard issue. A week ago I received my Ruby card which does not make sense. All in am really happy with the card here in Ireland with 10% cashback in Tesco and JustEat. The only issue which make sense though is that you cannot include EURO cashback when purchasing something in the shop like you can with other debit cards.

SkySter · 23-07-2020 7:53am

banie01 wrote: »

MCO card arrived this morning, originally staked for on the 06/06.
Really nice card, nice package and already have my Spotify and a few more subs moved over.

Got an email saying my Ruby card has shipped. Took approx 30 days from Issued.

starWave · 24-07-2020 10:20pm

Ruby red card arrived today, after staking approx. 5 weeks ago.

suave.4u · 25-07-2020 9:33pm

me too...Ruby red card arrived today, after staking approx. 5 weeks ago.
added to curve.

Guys have you started actively using the card? Are all retailers accepting it?

banie01 · 25-07-2020 11:11pm

suave.4u wrote: »

me too...Ruby red card arrived today, after staking approx. 5 weeks ago.
added to curve.

Guys have you started actively using the card? Are all retailers accepting it?

Using it exclusively since it arrived, haven't had any issues with its being accepted anywhere.
It is just a visa debit in any case, if there is an issue with it being accepted it's more likely a "what's that" issue than a card one.

It's my 1st metal card and honestly!
I love the heft of it, wonder if any of the pillar banks will offer metal cards?
Seems a bit of a sham having a plastic platinum card now :pac:

Stormington · 27-07-2020 2:49pm

Stormington wrote: »

Crypto.com's interest rates are only decent if you have MCO and CRO staked in large amounts.

I've found a place offering 120% APR on Link recently so gave it a spin. It will unlock next week so I'll report back if all goes ok

Pokket.
I tried this site with small amounts of ETH, Link and a few others.

It appears that they are arbing between exchanges and countries (In a yt video they explain that Chinese people are not able to use exchanges and transactions are peer to peer via wechat and weibo). They collateralise it in TUSD or USDT (there is a deal there with TUSD in some form).

Example of how it works is you deposit an amount, and receive this plus interest back at the end of the term (1 week typically) or if it goes up by more than 10% in value, you get the USDT value instead. Deposit 100 Link and get 2% weekly apr.

At the end of the week you will get back 102 Link or the USDT value of the token if the price of Link increases by more than 10%.

Having tested with a small amount of ETH I received USDT this morning.

It might make sense to auto-enroll to compound earnings, and wait for a pump then a lower price before withdrawing assets if you want the coins, or the cash out if you want the money.

I would not advise sticking everything you own in there but it might be an easier alternative than DeFi for some people if interested in piling up coins.

suave.4u · 28-07-2020 3:37pm

Stormington wrote: »

Pokket.
I tried this site with small amounts of ETH, Link and a few others.

It appears that they are arbing between exchanges and countries (In a yt video they explain that Chinese people are not able to use exchanges and transactions are peer to peer via wechat and weibo). They collateralise it in TUSD or USDT (there is a deal there with TUSD in some form).

Example of how it works is you deposit an amount, and receive this plus interest back at the end of the term (1 week typically) or if it goes up by more than 10% in value, you get the USDT value instead. Deposit 100 Link and get 2% weekly apr.

At the end of the week you will get back 102 Link or the USDT value of the token if the price of Link increases by more than 10%.

Having tested with a small amount of ETH I received USDT this morning.

It might make sense to auto-enroll to compound earnings, and wait for a pump then a lower price before withdrawing assets if you want the coins, or the cash out if you want the money.

I would not advise sticking everything you own in there but it might be an easier alternative than DeFi for some people if interested in piling up coins.

Can you share the link?

Stormington · 28-07-2020 8:40pm

I was going to but this is the debit cards thread. (Mine has not arrived, staked in June).

Shoot me a dm if interested about Pokket. I can do into more detail there.

suave.4u · 31-07-2020 10:14am

Have been using the Crypto.com card along with Curve (and its go back in time feature). Must say, very impressed!.
10% instant cashback when using Aldi/Lidl and 2% for everything else.

Are there other providers like this (the grocery 10% offer will cease in Sept.).

suave.4u · 31-07-2020 10:15am

Stormington wrote: »

I was going to but this is the debit cards thread. (Mine has not arrived, staked in June).

Shoot me a dm if interested about Pokket. I can do into more detail there.

thx Stormington, will check with you

suave.4u · 31-07-2020 10:29am

On this point, how does the Crypto.com card conversions compare with revolut.
Say if you are purchasing something from Amazon.co.uk, are you better off paying with revolut or with crypto.com card (includes the 2% cashback).

Bob24 · 31-07-2020 1:35pm

suave.4u wrote: »

On this point, how does the Crypto.com card conversions compare with revolut.

There is no markup so it should be more or less the same (up to a certain monthly amount depending on which tier you are on).

The annoying thing though is that the transaction history on Crypto.com doesn't actually show the euro converted amount (it only shows the amount in the original currency). So there is actually no easy way to check which exchange rates applied.

SkySter · 01-08-2020 8:20am

I've had the Ruby card for a week now and so far no major issues using the card. The PIN caught me on first use. I mistakenly assumed that the number I used on the App would be the PIN. Not the case.

I've a few concerns about the App. My biggest one is that once you've loaded money on the card, there appears to be no way to do anything with these funds except spend or withdraw from an ATM. Ideally I'd like to be able to move the balance between the card, FIAT wallet or back to my bank account. That doesn't appear to be there. I know that transfer of Crypto to the card is disabled for now, but surely moving FIAT around shouldn't be an issue.

Am I missing something?

Bob24 · 01-08-2020 8:42am

As far as I know, you are correct and the money can’t be moved back.

It is a bit strange indeed, but I guess you can always withdraw it as cash or use the card to top-up a Revolut account (or equivalent) if you don’t want to spend it with the card anymore.

Stormington · 01-08-2020 10:47am

suave.4u wrote: »

Have been using the Crypto.com card along with Curve (and its go back in time feature). Must say, very impressed!.
10% instant cashback when using Aldi/Lidl and 2% for everything else.

Are there other providers like this (the grocery 10% offer will cease in Sept.).

I can see that offer being extended as so many people are waiting on cards to arrive.

Is that 10% cashback in MCO or CRO by the way?

suave.4u · 01-08-2020 11:04am

Stormington wrote: »

I can see that offer being extended as so many people are waiting on cards to arrive.

Is that 10% cashback in MCO or CRO by the way?

MCO, paid instantly. You can then exchange it to Fiat

Lex Luthor · 01-08-2020 12:27pm

anyone look into Swipe Visa Debit Card?

I've just downloaded the app and they pay up to 4% cash back on purchases

I've bought a small bit of their token $SXP. Got a good feeling this could take a big portion of the marketcap, its still relatively small, but as far as the app/card is concerned, to be paid up to 4% cashback on purchases is not to be sneezed at

suave.4u · 01-08-2020 1:51pm

Lex Luthor wrote: »

anyone look into Swipe Visa Debit Card?

I've just downloaded the app and they pay up to 4% cash back on purchases

I've bought a small bit of their token $SXP. Got a good feeling this could take a big portion of the marketcap, its still relatively small, but as far as the app/card is concerned, to be paid up to 4% cashback on purchases is not to be sneezed at

just checked the website. 4% seems to be for the metal card.
Any fees?

Stormington · 01-08-2020 3:04pm

Lex Luthor wrote: »

anyone look into Swipe Visa Debit Card?

I've just downloaded the app and they pay up to 4% cash back on purchases

I've bought a small bit of their token $SXP. Got a good feeling this could take a big portion of the marketcap, its still relatively small, but as far as the app/card is concerned, to be paid up to 4% cashback on purchases is not to be sneezed at

It's 4% cashback for 30k SXP and 1% for 0 sxp.

If they issue faster than Crypto.com they might clean up. Tempted to get one myself tbh.

el diablo · 01-08-2020 4:19pm

So how do I get the Spotify subscription? I assume I need to register a Spotify account and pay with my Crypto.com card but how do I receive reimbursement?

Lex Luthor · 01-08-2020 4:26pm

I haven’t delved into the fine print yet on fees etc

I wouldn’t be getting the slate card as 30,000 SXP is above my limit

But 1% is not too bad

I’d like to see an option to be able to transfer in crypto value into the wallet from cold storage rather than having to put cash in

Bob24 · 01-08-2020 4:32pm

el diablo wrote: »

So how do I get the Spotify subscription? I assume I need to register a Spotify account and pay with my Crypto.com card but how do I receive reimbursement?

Everytime Spotify charges your card, the equivalent amount will be credited to your MCO wallet. Nothing else to do besides using the card to pay for your subscription.

Lex Luthor · 01-08-2020 6:46pm

Crypto.com $CRO market cap 3bn

Swipe $SXP market cap 115m

You gotta think if SWIPE gets a better market share they could potentially 5-6x from here

Started the verification process for the account

Very easy to transfer crypto in
Up to 30 supporting crypto’s

This ones a no brainer for me

Bob24 · 01-08-2020 6:57pm

Lex Luthor wrote: »

Crypto.com $CRO market cap 3bn

Swipe $SXP market cap 115m

You gotta think if SWIPE gets a better market share they could potentially 5-6x from here

Started the verification process for the account

Very easy to transfer crypto in
Up to 30 supporting crypto’s

This ones a no brainer for me

Just to point out that CRO isn’t related to the cards though.

MCO which is the token related to the cards has a market cap of 65m USD.

Stormington · 01-08-2020 10:59pm

Bob24 wrote: »

MCO which is the token related to the cards has a market cap of 65m USD.

And appears to be massively manipulated to keep the the price down.

I was about to sign up for a Swipe.io card and noticed there are referral links online. If someone here has one I'll use it.

Edit

Just to point out that CRO isn’t related to the cards though.

Is CRO not used for cashback for gift cards and vouchers you can buy through the app?

Bob24 · 01-08-2020 11:07pm

Stormington wrote: »

And appears to be massively manipulated to keep the the price down.

Can you explain why and how?

I don’t have a strong opinion on the matter, but it seems like it would be in CDC’s interest for the price to go up as they are still holding a large part of the supply.

Stormington wrote: »

Is CRO not used for cashback for gift cards and vouchers you can buy through the app?

Yep, but that is using “Crypto Pay” which is a separate thing from the card (with Cryoto Pay they are trying to build a payment network based on their own blockchain). Basically MCO if for everything related to the card (and also to boost Crypto Earn interest rates), and CRO is for everything else (Crypto Pay, the exchange, the “syndicate”).

Gooey Looey · 03-08-2020 10:04am

Big changes on Crypto.com, I've still not got my head fully around them!

It looks like they're killing MCO, making everyone convert their staked MCO to CRO at a fixed rate (+20% for early adopters) and start their 180day stake from scratch. Also the new CRO staking rates for the cards is much higher, anyone who had stacked 50% of the way to 500MCO is now 20% of the way after converting. It's a bit of a dickish move!

Crypto debit cards latest?

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