Crypto debit cards latest?

Stormington wrote: »

I suspect it may be to do with issues getting a banking licence. Bank transfers show them as currency cloud, and it may be some time before they gain theirs so piggybacking makes sense for now.

I don’t think you need a banking licence to issue payment cards though?

For exemple I believe Curve moved from using Wirecard to being a MasterCard principal member (meaning they can issue cards themselves), and unless I am mistaken they don’t have a banking licence.

An electronic money licence might be required though, but that should be much simpler/quicker to get than a banking licence.

unkel wrote: »

So I got my free crypto.com card today and loaded it up with a bit of money.

What's next? What places online and what places in actual shops in Ireland will give you a percentage payback?

Justeat, Aldi, Lidl and a few others all have 10% boost.
Not that I'm a fat bastard or anything :P

Be sure to switch your Spotify and any and all subs over to it too.
I've even got my Broadband on mine! Minimum 2% back on it all.

Edit: found the list of bonus 10%

banie01 wrote: »

And these
https://blog.crypto.com/stay-home-and-stay-safe-shop-online-using-crypto-com-pay-gift-cards-and-earn-2x-pay-rewards/

For reference these are for Crypto.com Pay gift vouchers. Completely separate from the card.

unkel wrote: »

So I got my free crypto.com card today and loaded it up with a bit of money.

What's next? What places online and what places in actual shops in Ireland will give you a percentage payback?

If you got the free card, you will get 1% cash back in CRO form any purchase you make with the card, regardless of the vendor.

Gooey Looey wrote: »

I upgraded to the next jade 10k tier of Crypto.com today, I had 1000 CRO staked for ruby card and 2% cashback and had 5000 in earn for the last 3 months at 16% that got released today. I had made 2000 CRO in rewards and interest in the last 3 months so only had to buy 2000 CRO to make the 10k which gives 3% with free Spotify and Netflix (new to me, had Spotify with 1k stake)

Only shame is that since they launched in Ireland, Airport Lounge access has became essentially useless. Not their fault but it is a shame as for someone who is (or was) flying regularly this is a nice added benefit on that tier.

banie01 wrote: »

Justeat, Aldi, Lidl and a few others all have 10% boost.

Seriously 10% of what you spend in Lidl and Aldi is added to the balance on the card? Straight away and automatically?

I only have the base free card, no plans to upgrade it.

unkel wrote: »

Seriously 10% of what you spend in Lidl and Aldi is added to the balance on the card? Straight away and automatically?

I only have the base free card, no plans to upgrade it.

With the free card it’s 5% instead of 10%, but as said above the offer ends tomorrow (unless they extend it, which they have done once before). And also there is a limit of $50 cash back ($25 with the free card) per month for that offer (passed that amount cash back reverts to the normal percentage for your card tier). See details here: https://help.crypto.com/en/articles/3857205-crypto-com-special-measures-for-june-september-2020

But besides these yeah it’s all automatic and it has been a great offer. A nice combo with that offer is that Tesco are selling gift cards for other retailers, so you can buy let’s say a TKMax, one4all, or whatever gift card from Tesco and get 10% cash back on it if you have a crypto.com card with CRO staking (5% with the free card).

unkel wrote: »

So if this 5% is not extended, I'll be getting just 1% on any spend anywhere. In CRO tokens on my base (free) card?

Yep correct.

It is small, but if you want to grab what’s left of the offer for you, you can go to Tesco tomorrow and buy a few gifts cards to use later. You can get 5% cashback on these up to $25 worth of CRO tokens.

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?

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.

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.

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”.

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).

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.

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).

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

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.