Crypto.com Debit Card - My Experience

So as many of you have seen, there has been an influx of crypto related debit cards dropping in 2021. All with their own rewards/benefits, making it difficult to chose which one to try. I personally went with the Crypto.com (CDC) card and wanted to share my experience. Call it a shill post or whatever you want, I’m simply just sharing my thoughts on a specific card and have no true experience with other services. Hope this helps those who are curious.

Many cards out there are offering 1-2% cashback rewards paid in BTC or choice coins (4% in XLM via Coinbase card), but I felt CDC offered so much more via their tiered card service. Their entry level tier will cost you absolutely nothing, and will net you 1% cashback rewards on all purchases. This is the ultimate “get your feet wet” card to try out and earn a little something back. I went with the Ruby card to start. By the way, these cards simply act as a prepaid debit card. You load it (top up) with cash available to spend, via bank transfer or by using crypto you already have.

The Ruby (red) tier card, requires a $400 stake in CRO, crypto.com’s native coin. I purchased $400 worth of CRO and locked it up in the required 180 day stake, and approximately 9 days later I was holding my physical card. It’s HEAVY. A very nice metal card with no bend to it whatsoever, but that’s not why we’re here right? The Ruby tier upgrades from the entry level Indigo, offering 2% cashback as well as a Spotify reimbursement. If you are a Spotify user, you simply pay your monthly bill with the CDC card, and just like that you’ll receive $12.99 back to your account in CRO coins. From there, you are free to do whatever you want with those coins.

So how much am I truly earning in cashback? Well, my spending habits remained the same for the most part. However, I started paying some of my bills with the card and timing my “don’t really need it, but want it” purchases around market dips (obviously the lower CRO is, the more coins you’ll get back). Anything and everything I need a debit card for, I use my Ruby card for. The month of June alone, between my Spotify reimbursement and cashback rewards, I received around $75 back. Yours to do whatever you want with. That’s $75 worth of crypto for simply changing the way I spend my money. The money has to be spent (bills/food/gas), so why not earn SOMETHING back? It’s a really cool feeling.

I personally send every single CRO earned to the crypto.com DeFi wallet, where you can stake with a selected validator for 13-14% interest. Yup, I earn interest on the cashback rewards. If you aren’t converting your earned CRO into another favorite coin, this is the way to go and continue earning rewards.

Fees? There are none. No annual fee. No fees on purchases. No fees on bank transfers. I found over time that loading the card via Apple Cash is the fastest free way to get fiat into the CDC app. I can start a transfer in the morning and have the funds cleared by mid day (business days only). The other option is of course converting crypto you already have, into cash for the debit card. Not my style though as you risk losing a couple bucks on the spread or a fee for buying the crypto.

Overall, I’m extremely pleased with the service Crypto.com has been offering and hope they continue to keep up the good work. So until a better competitor appears offering better rewards, I’ll continue using the CDC card and will continue earning my way towards the next tier card. Once you start hitting higher tiers, you’ll receive a higher cashback reward (up to 8%), extra reimbursements such as Netflix/Amazon Prime and other great benefits for airlines.

Hope this helps someone!

TLDR: Crypto card good. I earned like $75 in cashback/reimbursements in 1 month for spending money I was already going to spend. Better than getting $0 back. Try one out.