Crypto.com card review
Fees:
Rewards:
Network:
Funding methods:
Fees
The Crypto.com card doesn’t charge transaction fees but you need to pay a relatively high 2% foreign currency administration fee. The card has zero transaction, annual, maintenance, issuance or ATM fees but there’s an extortionately high reissuance fee of $70 if you lose your physical card.
| Type of fee | Amount |
|---|---|
| Annual | No fee |
| Topup | No fee |
| Transaction | No fee |
| ATM withdrawal | No fee |
| Currency exchange (non CAD) | 2% foreign currency administration fee |
| Account closure | No fee |
| Reissue card | $70 |
Similarly, the Binance VISA card has no transaction, annual, issuance or maintenance fees and you can earn up to 5% BUSD cashback rewards every time you make a purchase with the card or shop online via the Spend to Earn program. The cashback percentage depends both on your tiered card level and the amount of BNB holdings in your Binance wallet. The advantage of the card is that over 50 merchants participate in the rewards program with a wide range of shopping categories covered such as fashion, technology, lifestyle and travel.
Limits
The Crypto.com card has differing ATM withdrawal limits that are based on your tier. For example, the highest tier has a daily limit of $2,500 and $15,000 for the month, while the lowest tier has a daily limit of $700 and $7,000 for the month. All card tiers are subject to no yearly ATM withdrawal limits. You’re allowed a high maximum balance of $35,000 for all tiers and the Terms and Conditions of the card mandate that you can load at a frequency of up to 12 times a day, 140 times a month, with no yearly limits.
| Type of limit | Amount |
|---|---|
| Free ATM withdrawal | No limit |
| ATM withdrawal limit | Differs for each tier |
| ATM withdrawal frequency | No more than three times a day, 30 times a month, with no yearly limits |
| Max balance | $35,000 |
| POS purchase | Differs for each tier |
| Load frequency | 12 times a day, 140 times a month, with no yearly limits |
ATM withdrawal limits
| Card tier | ATM withdrawal limit |
|---|---|
| Obsidian | $2,500 a day, $15,000 a month, with no yearly limits |
| Icy White/Frosted Rose Gold | $2,500 a day, $15,000 a month, with no yearly limits |
| Royal Indigo/Jade Green | $2,500 a day, $15,000 a month, with no yearly limits |
| Ruby Steel | $1,500 a day, $15,000 a month, with no yearly limits |
| Midnight Blue | $700 a day, $7,000 a month, with no yearly limits |
Purchase limits
| Card tier | Purchase limit |
|---|---|
| Obsidian | $35,000 a day, $35,000 a month, with no yearly limits |
| Icy White/Frosted Rose Gold | $35,000 a day, $35,000 a month, with no yearly limits |
| Royal Indigo/Jade Green | $35,000 a day, $35,000 a month, with no yearly limits |
| Ruby Steel | $35,000 a day, $35,000 a month, with no yearly limits |
| Midnight Blue | $15,000 a day, $20,000 a month, with no yearly limits |
In contrast, the Binance card has a low daily ATM withdrawal limit of $400 but a higher daily purchase limit of $12,500 for the physical card and $1,200 for the virtual card. Although Binance doesn’t disclose its card load frequency limits, any funds you do load onto the card are covered by Secure Assets Fund for Users (SAFU) insurance.
Merchant and POS network
The Crypto.com card uses the VISA network which is available in Canada and at 46 million merchants worldwide. For instance, you can use the card at leading Canadian stores like Sobeys, Loblaws or Tim Hortons.
Rewards
The Crypto.com card offers up to 5% crypto rewards on purchases but you need to stake a certain amount of CRO for a minimum of 180 days to earn a percentage back on your spending. Depending on your tier and how much CRO you stake, you can gain unlimited airport lounge access with Loungekey at over 500 airports, Airbnb and Expedia reimbursement, as well as monthly reimbursement on subscription services from Spotify, Amazon Prime and Netflix.
| Card tier | CRO stake required | Rewards |
|---|---|---|
| Obsidian | $500,000 | 5% |
| Icy White/Frosted Rose Gold | $50,000 | 3% |
| Royal Indigo/Jade Green | $5,000 | 2% |
| Ruby Steel | $500 | 1% |
| Midnight Blue | $0 | 0% |
Rewards by card tier
| Card tier | Obsidian | Icy White/Frosted Rose Gold | Royal Indigo/Jade Green | Ruby Steel | Midnight Blue |
|---|---|---|---|---|---|
| Airport lounge access eligibility | Yes with $500,000 CRO staking requirement | Yes with $50,000 CRO staking requirement | Yes with $5,000 CRO staking requirement | Not eligible | Not eligible |
| Amazon Prime reimbursement eligibility | Yes with $500,000 CRO staking requirement | Yes with $50,000 CRO staking requirement | Not eligible | Not eligible | Not eligible |
| Spotify reimbursement eligibility | Yes with $500,000 CRO staking requirement | Yes with $50,000 CRO staking requirement | Yes with $5,000 CRO staking requirement | Yes with $500 CRO staking requirement | Not eligible |
| Netflix reimbursement eligibility | Yes with $500,000 CRO staking requirement | Yes with $50,000 CRO staking requirement | Yes with $5,000 CRO staking requirement | Not eligible | Not eligible |
| Airbnb reimbursement eligibility | Yes with $500,000 CRO staking requirement | Not eligible | Not eligible | Not eligible | Not eligible |
| Expedia reimbursement eligibility | Yes with $500,000 CRO staking requirement | Yes with $50,000 CRO staking requirement | Not eligible | Not eligible | Not eligible |
Staking
Crypto.com card users can stake their cryptos and earn rewards as this is available for 22 eligible cryptos. For instance, you can earn annual percentage yields of up to 2% on your Ethereum, 7% on Polygon or 4.5% on Solana.
Is Crypto.com card safe?
Crypto.com has been in operation since 2018, amassing over 80 million users across the world and has comprehensive security measures in place. For example, the company holds any assets you deposit within institutional-grade reserve accounts and transactions are protected by biometric multi-factor authentication. Crypto.com even has ISO 22301:2019, ISO/IEC 27701:2019 and ISO/IEC 27001:2013 certifications, which is the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as SOC 2 standards.
| Trustpilot | 2 star |
| Investopedia | 4.7 |
| Forbes | 4.7 |
| Nerdwallet | 4.7 |
| Business Insider | 4.3 |
A low percentage of users (20%) rate Crypto.com with five stars on Trustpilot, which is a low indicator of safety. The company faced controversy in January last year when it underwent a large-scale hack that led to the theft of over $15 million worth of Ethereum, $19 million in Bitcoin and $66,200 in other currencies. The most common issues raised are related to deposit and withdrawal concerns, however Crypto.com has received high ratings from various sites like Forbes and Investopedia.
How to get a Crypto.com card?
Registration
You need to sign up for a Crypto.com account in order to apply for the card and this can be done by:
- Visiting the mobile app and inputting your full name and email address so you can create a password and start the process.
- You then need to enter your age and country of residence and verify your email address.
- After verifying your email address, you can submit details such as full name and date of birth.
- You then have to enter your phone number to receive an SMS verification text message.
- After verifying your phone number, you have to complete KYC verification.
- Upon successful registration and passing verification, you can apply for the card via the same mobile app and then confirm the name you want to appear on the card.
- You then need to agree to purchase CRO and hold it for at least 180 days in order to receive the card.
KYC
Multi-step KYC verification is mandatory for all Crypto.com card users in Canada. The company asks you for proof of identity, which can be a drivers license, government-issued ID or passport, as well as proof of address, which can be a utility bill, letter from your local municipality, house rental agreement, tax letter, credit card statement or bank account statement. You must provide a clear and visible picture of the front and back side of your documents and you need to submit a selfie.
Delivery
You can receive your physical card in up to 14 working days and virtual cards become available for online use within 24 hours of application approval.
Loading or topup Crypto.com card
The card is funded by the crypto balance in your Crypto.com account and the accepted payment methods to fund your Crypto.com account include VISA, MasterCard, bank transfer, wire transfer, Google Pay, Apple Pay and PayPal.
CashtoCode eVoucher
You can’t fund your card with a CashtoCode eVoucher as this isn’t offered at Crypto.com.
Customer Support
Crypto.com offers an FAQs page on its Help Centre, a live chat function and email address but no customer phone support.
| Live chat | 24/7 live chat available in eight languages. |
| Phone support | No customer phone line available. |
| contact@crypto.com | |
| FAQs | Available |
Unlike most other large crypto exchanges, Crypto.com doesn’t use a ticketing system but this compensated for by the 24/7 live chat function that’s available in eight languages.
Crypto.com card is recommended for its reimbursement rewards
The Crypto.com card is recommended to users who are looking to gain unlimited airport lounge access at over 500 airports, Airbnb and Expedia reimbursement, as well as monthly reimbursement on subscription services from Spotify, Amazon Prime and Netflix. However, there’s extremely high CRO staking requirements for most tiers, a relatively high 2% foreign currency administration fee, 14 working days to receive your card and a high card reissuance fee of $70.
But if you don’t mind this, the Crypto.com card can still be a great option if you’re looking for a way to spend your crypto. Crypto.com could improve its card by reducing the foreign currency administration fee and lowering CRO staking requirements for its card tiers.
Alternatives of Crypto.com
- No transaction, annual or maintenance fees
- Earn up to 4% in crypto rewards on purchases
- Ability to conveniently withdraw at ATMs using your crypto balance
- Use the card with any merchant that accepts VISA
- Ability to track your spending and manage card on the Coinbase mobile app
- No credit checks to obtain the card
- A relatively high conversion fee
- Low maximum daily purchase limit which puts a cap on crypto rewards
- No tiered categories for spending
- Low 0.9% transaction fee
- No annual, maintenance or issuance fees
- Easily convert crypto into FIAT for spending or at ATMs
- 50 merchants participate in the rewards program
- No credit check to obtain the card
- Track your spending via the modern Binance mobile app
- A low daily ATM withdrawal limit
- 45 days to receive your card
- Crypto rewards are only available in BNB
- Earn up to 8% rewards in WXT on every purchase
- Company’s FCA e-money license
- No maximum balance limit
- No annual, transaction or issuance fees
- Four working days to receive your card
- Easily convert crypto or stablecoins into FIAT for spending or at ATMs
- Monthly $1.50 card maintenance fee
- Crypto rewards are only available in WXT
- Relatively low daily ATM withdrawal limit
The Coinbase card has a high 2.49% conversion fee but you don’t need to stake crypto to earn rewards. In addition, you only have to wait up to 10 working days to receive your card and if you lose it, there’s a low $4.95 reissuance fee.
The Binance card charges a 0.9% transaction fee but no foreign currency administration fee and you don’t need to stake crypto in order to receive rewards. However, you need to wait a shocking 45 days to receive your card and if you lose it, there’s a $35 reissuance fee.
Unlike the Crypto.com card, the Wirex card arrives in less than a week and if you lose it, you don’t need to pay a reissuance fee. There’s no requirement to stake crypto in order to earn rewards, as well as no foreign currency administration fee.
FAQs
Yes, because Crypto.com has been in operation since 2018, amassing over 80 million users and has comprehensive security measures in place.
You must purchase and hold CRO tokens for at least 180 days in order to be eligible for rewards on your spending.
Yes, you can’t earn crypto rewards on money spent at digital banking services, crypto exchanges, money remittance services, security brokers, insurance sales, government services, financial institutions or POI funding merchants.
There are differing ATM withdrawal limits for each tier. For example, the highest tier has a daily limit of $2,500 and $15,000 for the month, while the lowest tier has a daily limit of $700 and $7,000 for the month.
You need to report this immediately to the Crypto.com customer service team at contact@crypto.com and they can issue you with a new card
You can manage your card and track spending via the Crypto.com mobile app.
Specification: Crypto.com card review
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