Hey LeoFinance, today I have a question.
I want to get a crypto enabled payment card (VISA or Mastercard). Which ones would you recommend I look into?
I have not really done much research into the options, but what I would like is to earn some SAT's (or other coins) as a cashback or reward for transactions. A card to shift funds into and then spend as needed. Not really interested in credit as such, more so a place to park funds as crypto and then spend as needed, with a little reward attached.
I've seen the Crypto.com option, and considered it in the past. Does anyone have experience with this? How much CRO do you need to stake to make it worthwhile?
I've seen Blockfi launching a card. It looks like a credit card with BTC rewards, but I don't really get how it works (have not researched yet).
Binance have something, but again I'd love to hear if Leo people have experience with it.
I'm sure there are plenty of other options that I am not aware of.
I'm in Australia and that will affect availability I guess. But you don't need to worry about that, just comment with your knowledge and experience and I'll figure out if I can get it here.
Thanks in advance for your input.
Cheers,
JK.
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I have had the crypto.com credit card for over a year now and I absolutely love it. When I signed up you needed to stake a lot less CRO (actually it was MCO at the time) so I'm grandfathered in so I'm not sure how it is now, but I can say that the card is super awesome, their support is great, and I use it for all my purchases and earn cash back (way more than any traditional card) in CRO which I just put right back on the card to spend.
I think it's a must have for anyone who earns crypto and wants to spend it. It's so easy to just send the crypto to the card and use it wherever vs having to send the crypto to coinbase or another exchange, sell for USD, and then transfer to your bank account.
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Its starting to look like the crypto.com card is about the best option currently available to me here in Aus. On their app, its telling me I have to buy and stake for 6 month 5000 CRO to get one, so I think I better get to work on that.
I'm planning to use it to shift a fair bit of my weekly fiat income over, and cover regular bills and stuff to use it a fair bit, so this looks like the best option for me.
Thanks for adding your input, much appreciated.
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You won't get cashback for most of the bills, just so you know. There are other restrictions too, like gas purchases, transfers of funds between accounts, purchases of crypto, etc.
What I do get cashback on is my internet/tv bill (I'm not talking about 100% "free" for Netflix, that's a separate deal). Maybe it works for the phone bill as well, but I have my phone in a group and I don't pay that bill.
But this cashback stuff is really great. Plus there are all sort of options to earn if you stake CRO on their exchange as well.
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I'm in the same boat as you.
I actually still have a TenX card in my wallet, but they bailed on the card and it's just there for decoration now lol.
Bookmarked this and keen to see our options in Aus.
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I'll see what feedback I get, and tag you somewhere once I dig in and see what's good for Aus.
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I’ll take a seat next to you. I’d like to hear some feedback from the Lions to make an informed decision ;)
So far I’ve heard mixed opinions on crypto.com card, started good but reduced drastically the list of items getting you cashback. Plus the substantial amount of CRO to be staked.
I’m eyeing Nexo and binance cards, but living in HK it might take quite some time before to become available.
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I've joined the waitlist for Binance and Coinbase, but not holding my breath as it seems a difficult path here in Aus. Looks like crypto.com is the best option currently available for me, but we'll see.
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I use one called wirex. Not sure if they operate in Ozzyland.
Basically, it costs me £1 per month to keep the card open but i can cash out BTC to my bank account in a few minutes. And then i have a contactless visa debit card to use in shops, online are at the ATM.
I've been using them for around 3 years, never had a problem. They are working on a new card now that they will release soon. The new card will let me spend BTC directly, no having to convert BTC to fiat first. Game changer and as far as im aware, the first debit card that will let me directly spent BTC are other cryptos at the shop are cash out at an ATM machine.
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I've seen Wirex, but not sure if I can get it here.
I've got a real good fiat offramp service - Coinjar here that I can turn Crypto back into AUD in the bank in no time, last one I did took about 3 minutes. But I really want one that I can use, as you say, everyday and spend my crypto direct.
I've seen some ads for Blockfi, but like most it isn't in Aus yet it seems.
Cheers mate.
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I am using Binance card and it works perfectly fine. You get some cashbacks as well. Don't know exactly the percentage. I have only used it with BUSD. Will try and spend a bit ETH next week maybe to see how it works, but I avoid using the volatile ones.
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