{"id":624355,"date":"2023-05-12T09:12:40","date_gmt":"2023-05-12T09:12:40","guid":{"rendered":"https:\/\/info.cashtocode.com\/?post_type=product&p=624355"},"modified":"2024-01-17T07:43:07","modified_gmt":"2024-01-17T07:43:07","slug":"crypto-com-card","status":"publish","type":"product","link":"https:\/\/info.cashtocode.com\/en-ca\/reviews\/crypto-com-card\/","title":{"rendered":"Crypto.com card review"},"content":{"rendered":"\n
8.5<\/span>Expert Score<\/span><\/div>
Editor's comment<\/div>The Crypto.com card is a well-known fee-free debit card that gives you an easy way to spend your crypto, with no transaction, annual, maintenance, issuance or ATM fees. As well as being able to cash out your cryptos at ATMs in FIAT, there are a plethora of perks offered such as unlimited airport lounge access, up to 5% crypto rewards on purchases, 100% reimbursement on subscription services like Spotify, Amazon Prime and Netflix and high daily purchase limits. Despite the card\u2019s brilliant features, there\u2019s 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.<\/div><\/div><\/div>
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Fees<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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7.6<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Limits<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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9<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Rewards<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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9<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Security<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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8.8<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Support<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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8.2<\/div>\r\n\t\t\t\t\t\t\t<\/div><\/div>
PROS<\/div>
  • No transaction, annual, maintenance, issuance or ATM fees\r<\/li>
  • Earn up to 5% in crypto rewards on purchases\r<\/li>
  • Unlimited airport lounge access at over 500 airports \r<\/li>
  • Reimbursement for Expedia, Airbnb, Spotify, Amazon Prime and Netflix\r<\/li>
  • High daily purchase limits\r<\/li>
  • Use the card with any merchant that accepts VISA<\/li><\/ul><\/div><\/div>
    CONS<\/div>
    • Extremely high CRO staking requirements for most tiers\r<\/li>
    • A relatively high 2% foreign currency administration fee\r<\/li>
    • High card reissuance fee of $70\r<\/li>
    • 14 working days to receive your card <\/li><\/ul><\/div><\/div><\/div><\/div>\n\n\n\n

      Fees<\/h2>\n\n\n\n

      The Crypto.com card doesn\u2019t charge transaction fees but you need to pay a relatively high <\/strong>2% foreign currency administration fee. <\/strong>The card has zero transaction, annual, maintenance, issuance or ATM fees but there\u2019s an extortionately high reissuance fee of $70 if you lose your physical card. <\/p>\n\n\n\n

      Type of fee<\/th>Amount<\/th><\/tr><\/thead>
      Annual<\/td>No fee<\/td><\/tr>
      Topup<\/td>No fee<\/td><\/tr>
      Transaction<\/td>No fee<\/td><\/tr>
      ATM withdrawal<\/td>No fee<\/td><\/tr>
      Currency exchange (non CAD)<\/td>2% foreign currency administration fee<\/td><\/tr>
      Account closure<\/td>No fee<\/td><\/tr>
      Reissue card<\/td>$70<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Similarly, the Binance VISA card has no transaction, annual, issuance or maintenance fees and you can earn up to 5% BUSD cashback rewards<\/strong> 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. <\/p>\n\n\n\n

      Limits<\/h2>\n\n\n\n

      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\u2019re allowed a high maximum balance of $35,000<\/strong> 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.<\/p>\n\n\n\n

      Type of limit<\/th>Amount<\/th><\/tr><\/thead>
      Free ATM withdrawal<\/td>No limit<\/td><\/tr>
      ATM withdrawal limit<\/td>Differs for each tier<\/td><\/tr>
      ATM withdrawal frequency<\/td>No more than three times a day, 30 times a month, with no yearly limits<\/td><\/tr>
      Max balance<\/td>$35,000<\/td><\/tr>
      POS purchase <\/td>Differs for each tier<\/td><\/tr>
      Load frequency<\/td>12 times a day, 140 times a month, with no yearly limits<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      ATM withdrawal limits<\/h3>\n\n\n\n
      Card tier<\/th>ATM withdrawal limit<\/th><\/tr><\/thead>
      Obsidian <\/td>$2,500 a day, $15,000 a month, with no yearly limits<\/td><\/tr>
      Icy White\/Frosted Rose Gold<\/td>$2,500 a day, $15,000 a month, with no yearly limits<\/td><\/tr>
      Royal Indigo\/Jade Green<\/td>$2,500 a day, $15,000 a month, with no yearly limits<\/td><\/tr>
      Ruby Steel <\/td>$1,500 a day, $15,000 a month, with no yearly limits<\/td><\/tr>
      Midnight Blue<\/td>$700 a day, $7,000 a month, with no yearly limits<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Purchase limits<\/h3>\n\n\n\n
      Card tier<\/th>Purchase limit<\/th><\/tr><\/thead>
      Obsidian <\/td>$35,000 a day, $35,000 a month, with no yearly limits<\/td><\/tr>
      Icy White\/Frosted Rose Gold<\/td>$35,000 a day, $35,000 a month, with no yearly limits<\/td><\/tr>
      Royal Indigo\/Jade Green<\/td>$35,000 a day, $35,000 a month, with no yearly limits<\/td><\/tr>
      Ruby Steel <\/td>$35,000 a day, $35,000 a month, with no yearly limits<\/td><\/tr>
      Midnight Blue<\/td>$15,000 a day, $20,000 a month, with no yearly limits<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      In contrast, the Binance card has a low daily ATM withdrawal limit of $400 <\/strong>but a higher daily purchase limit of $12,500 for the physical card and $1,200 for the virtual card. Although Binance doesn\u2019t disclose its card load frequency limits, any funds you do load onto the card are covered by Secure Assets Fund for Users (SAFU) insurance. <\/p>\n\n\n\n

      Merchant and POS network<\/h2>\n\n\n\n

      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 <\/strong>like Sobeys, Loblaws or Tim Hortons. <\/p>\n\n\n\n

      Rewards<\/h2>\n\n\n\n

      The Crypto.com card offers up to 5% crypto rewards on purchases but you need to stake a certain amount of CRO<\/strong> 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.<\/p>\n\n\n\n

      Card tier<\/th>CRO stake required<\/th>Rewards<\/th><\/tr><\/thead>
      Obsidian <\/td>$500,000<\/td>5%<\/td><\/tr>
      Icy White\/Frosted Rose Gold<\/td>$50,000<\/td>3%<\/td><\/tr>
      Royal Indigo\/Jade Green<\/td>$5,000<\/td>2%<\/td><\/tr>
      Ruby Steel <\/td>$500<\/td>1%<\/td><\/tr>
      Midnight Blue<\/td>$0<\/td>0%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Rewards by card tier<\/h3>\n\n\n\n
      Card tier<\/th>Obsidian <\/th>Icy White\/Frosted Rose Gold<\/th>Royal Indigo\/Jade Green<\/th>Ruby Steel <\/th>Midnight Blue<\/th><\/tr><\/thead>
      Airport lounge access eligibility <\/td>Yes with $500,000 CRO staking requirement<\/td>Yes with $50,000 CRO staking requirement<\/td>Yes with $5,000 CRO staking requirement<\/td>Not eligible<\/td>Not eligible<\/td><\/tr>
      Amazon Prime reimbursement eligibility <\/td>Yes with $500,000 CRO staking requirement<\/td>Yes with $50,000 CRO staking requirement<\/td>Not eligible<\/td>Not eligible<\/td>Not eligible<\/td><\/tr>
      Spotify reimbursement eligibility <\/td>Yes with $500,000 CRO staking requirement<\/td>Yes with $50,000 CRO staking requirement<\/td>Yes with $5,000 CRO staking requirement<\/td>Yes with $500 CRO staking requirement<\/td>Not eligible<\/td><\/tr>
      Netflix reimbursement eligibility <\/td>Yes with $500,000 CRO staking requirement<\/td>Yes with $50,000 CRO staking requirement<\/td>Yes with $5,000 CRO staking requirement<\/td>Not eligible<\/td>Not eligible<\/td><\/tr>
      Airbnb reimbursement eligibility <\/td>Yes with $500,000 CRO staking requirement<\/td>Not eligible<\/td>Not eligible<\/td>Not eligible<\/td>Not eligible<\/td><\/tr>
      Expedia reimbursement eligibility <\/td>Yes with $500,000 CRO staking requirement<\/td>Yes with $50,000 CRO staking requirement<\/td>Not eligible<\/td>Not eligible<\/td>Not eligible<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Staking<\/h2>\n\n\n\n

      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%<\/strong> on your Ethereum, 7% on Polygon or 4.5% on Solana. <\/p>\n\n\n\n

      Is Crypto.com card safe?<\/h2>\n\n\n\n

      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 <\/strong>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.<\/p>\n\n\n\n

      Trustpilot<\/td>2 star<\/td><\/tr>
      Investopedia<\/td>4.7<\/td><\/tr>
      Forbes<\/td>4.7<\/td><\/tr>
      Nerdwallet<\/td>4.7<\/td><\/tr>
      Business Insider<\/td>4.3<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      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<\/strong> from various sites like Forbes and Investopedia.<\/p>\n\n\n\n

      How to get a Crypto.com card?<\/h2>\n\n\n\n

      Registration<\/h3>\n\n\n\n

      You need to sign up for a Crypto.com account in order to apply for the card and this can be done by:<\/p>\n\n\n\n

        \n
      1. Visiting the mobile app and inputting your full name and email address so you can create a password and start the process. <\/li>\n\n\n\n
      2. You then need to enter your age and country of residence and verify your email address.<\/li>\n\n\n\n
      3. After verifying your email address, you can submit details such as full name and date of birth. <\/li>\n\n\n\n
      4. You then have to enter your phone number to receive an SMS verification text message.<\/li>\n\n\n\n
      5. After verifying your phone number, you have to complete KYC verification.<\/li>\n\n\n\n
      6. 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. <\/li>\n\n\n\n
      7. You then need to agree to purchase CRO and hold it for at least 180 days in order to receive the card. <\/li>\n<\/ol>\n\n\n\n

        KYC<\/h3>\n\n\n\n

        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. <\/strong><\/p>\n\n\n\n

        Delivery<\/h3>\n\n\n\n

        You can receive your physical card in up to 14 working days <\/strong>and virtual cards become available for online use within 24 hours of application approval.  <\/p>\n\n\n\n

        Loading or topup Crypto.com card<\/h2>\n\n\n\n

        The card is funded by the crypto balance in your Crypto.com account <\/strong>and the accepted payment methods to fund your Crypto.com account include VISA, MasterCard, bank transfer, wire transfer, Google Pay, Apple Pay and PayPal.<\/p>\n\n\n\n

        CashtoCode eVoucher<\/h2>\n\n\n\n

        You can\u2019t fund your card with a CashtoCode eVoucher as this isn\u2019t offered at Crypto.com.<\/p>\n\n\n\n

        Customer Support<\/h2>\n\n\n\n

        Crypto.com offers an FAQs page on its Help Centre, a live chat function and email address but no customer phone support. <\/p>\n\n\n\n

        Live chat<\/td>24\/7 live chat available in eight languages.<\/td><\/tr>
        Phone support<\/td>No customer phone line available. <\/td><\/tr>
        Email<\/td>contact@crypto.com<\/td><\/tr>
        FAQs<\/td>Available<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Unlike most other large crypto exchanges, Crypto.com doesn\u2019t use a ticketing system<\/strong> but this compensated for by the 24\/7 live chat function that\u2019s available in eight languages. <\/p>\n\n\n\n