Crytpo.com Ruby Steel Debit Card 2% Cashback & Spotify Rebate

LAdamarc on 28/12/2019 - 11:45

MCO Crypto Debit Card

Hey Guys Long Term Lurker, however haven’t posted much to Oz-Bargain, first of thanks for all the deals you guys Post! Been amazing over the years! So thanks you everyone in the community! I will be listing all the pros’s and cons in this Article and not just the normal sales lines. I am not a wordsmith so sorry if this post isn’t set out the greatest format.

Note: This is a long post as anything to do with new crypto & debit cards will require a decent explanation, however there is a quick pro’s & Con’s at the bottom of the post

Disclaimer 1. Not financial advice, do your own research
Disclaimer 2. I am invested in the token MCO
Disclaimer 3. I already have a Card from Crypto.com and use it every day & Get cashback here in Australia.
Disclaimer 4. I am Not staff or Ambassador of Crypto.com, however i have been following them for over a Year
Disclaimer 5. There is a Referral program that can benefit you with a $50 USD Signup (when you lock for Card) - so highly recommend you finding a code before signing up, referrer also gets the same bonus

Notes

Card is completely controlled by Crypto.com APP This contains crypto wallets, Fiat wallet & Card wallet
Support is via App Or website

Now as we know Crypto products are a polarizing topic and a lot of people have lost money etc, so Despite the Title, using this card you don’t have to actually use for everyday purchase’s but can get great rewards from the card depending on what Tier you actually use, im going to Focus on the 50 MCO token Card, Also as you are aware most crypto products are Relatively new and are constantly getting better over time

Crypto.com is essentially Positioning itself to be a Crypto Super app across the globe so they have multiple banking options such as Credit, earn ( term deposits), Visa Card, and robo Investors & a blockchain that is essentially trying to replace visa over next 10+ years plus a crypto exchange have a look around their website, here are some great links to help (App Stores currently have over 1 Million Downloads on their Platform) They are trying to be the First Worldwide Crypto enabled debit card partnered with VISA.

Currently the Credit Debit Cards are available in the Following Countries
Singapore ,USA( all states except NY), Australia, South Korea, New Zealand & a few more smaller countries.Europe states are planning to be launched early 2020 ( Q1 most likely)

As I know most people Question anything to do with crypto, here are some links that will help satisfy you/perk intrest & talk about security and the company building this product from the Actual company itself
https://crypto.com/en/cards.html
https://crypto.com/en/security.html
https://crypto.com/en/earn.html
https://crypto.com/en/about.html#team
https://blog.crypto.com/ (I recommend Keyword searching AMA (with CEO KRIS))
https://blog.crypto.com/cryptocom-ecosystem-roadmap/ ( future Plans)
https://www.youtube.com/watch?v=HMqqWCMNDPU Company's advertising for the Tier higher

Because the Ecosystem is quite big, I will only be explaining the Card Part on this forum post

Summary of what I will summarize Below, 300 Dollar Investment (50 MCO Tokens) for 6 months, gets you a red Metal Visa Card that doesn’t have fee’s ( This will be explained in more detail Below), This Card gives you 2% in Cashback in MCO ( Crypto) & Free Spotify induvial plan ( $11.99) (in MCO) each month

As soon as you Lock the company claims they can send you a card- but in reality, it takes like 2-3 weeks for them to begin approval process & then a few days to approve you. Then 7-10 days shipping. Based of what my new friends going through the process have seen, In this process you will have to go through a KYC/AML Process that requires both giving poof of Address & nationality (Passport or Birth certificate) to receive the card

After this 6 month you can choose to Sell your original 50 tokens, however your benefit goes from 2% cashback on every transaction, to 1% and you no longer get free Spotify

Once your Reach 4.5 MCO you can sell this into the app back onto your card ready for spending. ( I believe they are working to remove this requirement however no date exactly has been given,

So Lets do the Math’s here. At this moment it would cost 300.30 (buying in app by debit card)
If you spent
6 Months worth of (11.99) = 71.94
6 Months of spending lets say $10000 ( I know I spend more than this on bills etc in 6 months though not everyone will) = 200 Dollars
Plus the US 50 dollar Refferal Credit if you find a link

So after 6 months using this card, you would have saved your 271.94 dollars.

So I hear you ask, crypto is volatile how would you ensure you are getting the value out of your cashback & what if the token of the 50 MCO drops in that 6 months or longer period?

https://coinmarketcap.com/currencies/crypto-com/
Here is a stats website where you can look at historical prices token information ETC but I will Write the Basic information here
Total supply of token : 31,587,682 MCO
Circulating Supply: 15,793,831 MCO

We know from a community update around 2-3 Months ago 10million of the Circulating Supply of these tokens are locked in the App for either, Cards, Earn or Credit, which means the remaining tokens would be somewhere in 5.8million token then are not being used on a platform

Note : crypto.com hold the other 50% of the supply, however have stated they will not sell anymore in prevoius AMA's unless facing cashflow problems

Here is a website that tracks how many tokens are on exchange : https://www.viewbase.com/coin/monaco while this website isnt 100% accurate it gives you and idea of the history of major exchanges.

In comparison to other tokens out in the market they have a lot less & majority are staked in the app which helps as a buffer for price fall’s, however market flucation in crypto is still much higher than stock market

Once you get your Card:
Activate it Via the app & then you will have the Top up Option enabled in the card section of the app. This will then allow you to top up via Debit card ( Highly recommend using a card that doesnt charge international fee's like ING's everyday account when you hit their requirements)

Community Links
https://discordapp.com/invite/nsp9JTC
https://t.me/CryptoComOfficial
https://twitter.com/cryptocom
https://www.reddit.com/r/Crypto_com/

Using the Card in everyday Life Pro & Con’s
Pro’s
1. 2% Cashback on Ruby red Card in MCO on ALL purchases made through card
2. Spotify Rebate in MCO on MCO after each bill
3. Metal Red card with NO annual Fee’s* Ensure you read website & app for other fee's
4. Card has multiple currencys to allow you to Travel worldwide
5. Transfering between currencys attracts the VISA best rate & not some Markup (unless you go over your Limit *
6. Can Be linked with paypal ( Need to turn off paypal currency conversion though)
7. As soon as you stake for the Card the verification process begins
8. Whole ecosystem is designed to be replacement for bank, and this starts with the card.
9. $50 USD Bonus in MCO when you Someones Refferal Code
10. The team is Focused with compliance & Security everywhere they are active
11. The Card will usually Pay itself off within 6 months (completely dependent on Spend)
12. After 6 months you can sell your initial investment & transfer back into back ( though how much that will be worth is unknown)
13. Card Shipping is Free for first card

Con’s
1. Currently Singapore issued Card so some annoyance with certain providers e.g Netflix & Microsoft ) however PayPal option can get around this ( Team is working on getting Australian Issued Cards)
2. No bank transfer through normal AUS banks at this moment in time ( Best Top up option when you have card is through your Orange iNG bank account debit card to mitigate international fee’s) Looking at Q1 2020 as ETA for this feature though
3. The current 4.5 (27 AUD worth) MCO sell limit can limit you selling from the cryptocurrency straight away into cash, we know they are working on this but no ETA at this moment in time
4. Limited to $ 400 SGP Cash-out at ATM per Month (however I would just use normal debit card for cash)
5. 3.5% Fee when buying the Initial crypto through debit or credit card on app.
6. No apply & Android Pay as yet however team is working on this
7. Potentially volatility with your cashback due to the Market
8. $50 USD cost to close account if you wish to remove everything
9. Transfer out Via SWIFT is Costly & requires you to do a transfer in first.
10. $50 SGP card cost to upgrade tier in Future to higher tiers
11. Currently Singapore issued cards go default to Sign for any purchase over 100 dollars instore
12. Support can be a Little slow at time & no future physical Store support
13. International transaction fee can be charged by bank when using normal debit card to top up. ( ING card gets around this)
14. Risk around the company holding 50% of Supply of MCO tokens, however they have stated they will not sell unless something goes really wrong.

While there are currently more con's than Pro's the team is actively working on this & using slight work around its possible to get great cashback for this card. i am trying to list everything practical here for you to make an informed decision based on my current experiences/ pitfalls i see with the company

I currently am at about 50 dollars Cashback using everyday purchases & Rebates that the higher tier cards have in 2 months. Though i fell in the pitfall of the international transaction fee by my bank at the start so overall profit is lower

Other guides to crypto.com & unboxing videos
https://medium.com/@DamianSpriggs/damians-complete-guide-to-… ( Probably best community guide i have seen)
https://www.youtube.com/watch?v=PDiXH4NuFQM

Last Monthly AMA's
https://twitter.com/i/broadcasts/1OdJrLvdaMeKX

I honestly think they will be a big competitor to bank’s especially with their earn product when Local Fiat in & out options are available Their Earn Rates can be amazing compared to banks, but this will be covered sepratly. there are higher tier Cards, please look at the website, although website doesnt show all benefits for higher tiers weridly enough

Also Note WEbsite show's a free Blue Card, however on the app you cant currently apply for that in Australia hence why it isnt mentioned here

Constructive criticism welcome, if you got through all of this thank you for the time and patience, I will update to include more information if possible, I will group them into section’s

Financial

Related Stores

Crypto.com
Crypto.com

Comments

  • [Deactivated] on 28/12/2019 - 12:19

    Right…
    Good luck with life.
    Keep america great.

  • [Deactivated] on 28/12/2019 - 13:02

    Don't think anyone asked?

  • Diji1 on 28/12/2019 - 13:35
    +3

    Have fun risking your money.

    For me this "ecosystem" (seriously) removes the reasons to use crypto which is to avoid big institutions, tracking and privacy violation.

    The only reason crypto.com exists is to remove your money like all private profit seeking entities and presumably this one is far outside Australian Government regulation.

    • Adamarc on 28/12/2019 - 13:52
      -1

      Multiple points here. look at their future roadmap, which is to get all the features of the app to have their own private keys, which is probably 9 months down the track connected with the card in a compliant way ( which to me is way better than a normal bank)

      Link here https://blog.crypto.com/cryptocom-ecosystem-roadmap/

      Crypto.com is focused on adoption at this moment and time and complaince with their app as core competencies. This app gives a complaint way for people to get into crypto, increase understanding and benefits of the entire eco system

      Get a product the gives good rewards to the new users that people want & then they will do more research into the industry as a whole

      So get a product the masses can use in comparison to a normal bank but better in most ways

      Risk is in everything we do and for sure higher with all crypto related things.

      These days all trustworthy exchanges follow complaince with local regulations anyways

      Show me another card that gets ya 2% cashback on every puchase. That alone should be reason enough to consider it , try and experiment if it was a normal bank card most people would jump on it in two seconds

      • Adamarc on 28/12/2019 - 14:11

        Also to talking about being outside Australians government Control

        https://help.crypto.com/en/articles/1360625-can-governments-…

        i know under australian law multiple licences are required with any sort of lending similar to banks and exchanges must be registered with some Australian regulator , so i doubt they would be able to offer services here if that wasn't the case

        For example i know their app etc isnt able to be downloaded in a few country's e.g india is one i know of the top of my head.

        https://help.crypto.com/en/articles/1972921-all-about-kyc-ve…

        re privacy questions

        https://crypto.com/en/privacy.html

        If you have any questions or complaints about this Privacy Notice or our privacy practices, please contact our DPO in the following ways:

        Crypto.com DPO
        Email:[email protected]

        1. How we use your personal data

        We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:

        For the provision of the Services.
        Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.
        Where we need to comply with a legal obligation.
        Please refer to the GLOSSARY, LAWFUL BASIS sections to find out more about the types of lawful basis that we will rely on to process your personal data.

        I think the above is the Exert you would be looking for there is more information in the link above

  • Debuting on 28/12/2019 - 16:14
    -3

    I don't like it.

    There is no reason why they cannot offer the Blue Card with a card fee for international users. It isn't even a regulatory issue, otherwise they wouldn't be able to issue the red card. I've got some cards from banks located in Singapore & St. Vincent and the Grenadines.

    The whole thing smells fishy. Even the name has the word "cry" in it. You'll most likely lose half of the value in crypto. Since there is no transparency, we are unable to determine if the company is even betting against themselves and the MCO currency itself.

    • Adamarc on 28/12/2019 - 16:46
      +1

      They do AMA's monthly with their ceo on Twitter , you can find it in their blog history that has some stats in previous numbers with locked tokens and users, but agree they play most cards close to their chest as they don't want to let the competition know how their stragies are working. (If you have some questions which I can't answer I'm happy to ask at next ama for you)

      Re the Blue card I'll see if I can get an answer, I agree I was abit mystified why they removed it from the app recently, I agree it's not a regulatory issue

      I wonder if it has something to do for the meantime they are issuing from Singapore instead of australia and they don't want to go to the trouble of free cards at this moment.

      I have asked the support so I'll let ya know when I get an answer

      • Adamarc on 28/12/2019 - 18:25
        +1

        Ok the reply I got is as below

        Please note that we currently ship only the metal cards to your area - this means that you will only be able to select and reserve one of the metal cards by staking MCO tokens for it. If you wish to receive the Midnight Blue tier, you will be able to reserve it when this card is available for your region.

        I agree not the best descion for the company to make. Though no real answer there, I'd guess the free card will come available once the Australian issued cards are out.

        Not ideal for sure I admit .

        This was always more for the more adventurous people as crypto is obviously not for the masses yet. Though I do believe this company will help that in future once things become less complicated ( and free card arrived here in Australia)

  • bazza1980 on 30/12/2019 - 14:35
    -1

    So basically I have to jump through a ton of hoops just to use my own money and I have to make an "investment" in crypto that I have restrictions on selling and all of this for the benefit of a 2% cashback and a debit card with no annual fees (can't think of any other debit cards which have this no fee feature)

    Love this comment though:

    there are more Con's than Pro's

  • Chocka12 on 14/01/2020 - 00:07
    +2

    Been following this company since ICO back in mid 2017 and reason I invested was due to the industry heavyweights they managed to get on board with their project and they continue to recruit some of the best to oversee their expansion.

    In no way should this post be construed as product or financial advice. Using information contained within as such, will be at your own risk.

    For the people negging this post, perhaps do a bit of research before shooting the OP down. I see his post as simply making people aware that there is possibly an alternative to the traditional banking system that we're familiar with. Crypto-backed payment systems are certainly in the infant stages of mass adoption but hey… even Banks, Paypal and Afterpay started from somewhere. Windows 10 had to evolve over the years from Windows 3.1… you get the drift.

    I'm in no way affiliated with the company other than as an investor and avid user of their product but what this company has achieved in such a short amount of time has put many of their competitors to shame.

    I've got the Icy White card myself and use it for all my purchases. Hell… I even got my crypto illiterate wife a Jade green card and she has zero trouble topping up card by herself for all of her spending (it's the ONLY service on offer by this company that she uses and that's ok!). The only problem I have now is that she claims she's getting a "bargain" due to the 3% cashback (for her card tier) and ends up spending more!

    The OP did forget to mention some addition benefits like:

    • near perfect inter-bank exchange rates. The foreign currency conversion rate offered by crypto.com is almost the same rate you will get on XE.com. I have connections in the travel industry who have conceded that the exchange rate offered by crypto.com are better than the wholesale exchange rates available to them.

    • all metal card tiers come with Loungekey airport lounge access for cardholders

    • earn interest on crypto assets you hold - similar to how a term deposit works

    To be fair, OP has left off quite a number of positives such as:

    • 100% of user crypto assets held in cold storage
    • US$250mil worth of institutional grade crypto insurance against theft of direct loss
    • Up to $250k USD fiat balances covered by FDIC insurance for US customers

    Not to mention being the first cryptocurrency company in the world to obtain Gold Standard security certification and Level 1 compliance on the data and information security. At the same time, not everyone will use every service available within the platform so many of the things that have been mentioned thus far will be either irrelevant to some people, or simply waved off by others as "too good to be true".

    Another thing of note is that the company have regularly and consistently stated that compliance and security will be their number one priority before launching products and services in any region. Keen followers of the crypto space should know of situations where competitors have launched similar products (crypto-backed Visa debit service) and aggressively pushed their launch and marketing without appropriate regulatory approvals and consequently, have been shut down or forced to remove their products from market until such approvals have been granted.

    Perhaps OP might like to edit his info regarding "Free Spotify induvial plan ( $11.99)" since the benefit is actually a rebate of up to US$9.99 equivalent in MCO. I have a Spotify family plan subscription and although there is a shortfall that I DO have to cover, I DO receive the full US$9.99 rebate PLUS 4% cashback on my subscription cost (and 100% rebate plus cashback on my netflix sub) ;)

    As with anything, it's always wise to do your own research before committing to anything and perhaps not invest more than you're willing to lose.

  • gothebroncos on 20/01/2020 - 08:45
    +1

    I have been with CDC for a while and also have the Ruby premium metal card. The process of topups is easy with UP bank and the 2% rewards is what makes this a killer application. The limited supply and growing adoption and people seeking to be rewarded for purchases is what will drive the price of $MCO upwards. I see big things for CDC. I am currently stacking more $MCO to upgrade my card to Jade. My wife has now applied for a Ruby card, however they are on backorder at the moment with a delivery time expected maybe next month.

    Their other coin $CRO definitely has merit too, although the supply is much greater, so the price will remain low. In saying that both coins have been increasing nicely in price. $CRO can be staked on their exchange for 20% p.a return. $CRO can also be used to buy a variety of e gift cards with 10% cashback as more $CRO.

    I think the OP has taken a lot of effort putting together his thoughts and experiences with CDC - good work and didn't even add his referral code! I am sure that anyone reading this that wants to become involved are able to contact the OP to take advantage of the generous signup bonus.

    There is an Aussie / NZ CDC telegram group that are very helpful - https://web.telegram.org/#/im?p=@crypto_com_Aus_unofficial

    NOT FINANCIAL ADVICE

    • Adamarc on 23/01/2020 - 21:07

      No allowed to post refferal codes according to fourm rules unless it's on ozbargains list , I'd rather not kill the post before it already begun,

      However most people think 300ish dollars is a to big risk to try something new and better , which I can understand unless they research more

  • gizzard on 25/04/2020 - 15:59

    If, say, you spend around $10,000 using the card and you get 2% cashback then that's $200.
    If, say, that had averaged out at $10 per MCO then you would have earned 20 MCO.

    If you keep spending and saving those MCO will they all count towards the 500 MCO that you need to accumulate to upgrade your card and get a higher cashback?

    • Adamarc on 26/04/2020 - 11:15

      All cashback in MCO gained by cashback is available to use straight away - ( so if you didn't spend it & then decided to upgrade to the 500 card, you would restake that 500 for 6 months) - subject to the 4.5 minninum sell rule

      One thing to note tho there's a 25k monthly limit on spending on the card atm , so you would probably never get that money from cashback alone tbh unless the price drops alot.

      Also currently they have waived 3.5% fee( think active for two more months) to buy on app anymore however each mco is now roughly 8 dollars each instead of the 4 at posting.

      They launched in the UK this week and are trying to launch in the rest of EU next week or two.

      • gizzard on 26/04/2020 - 11:41

        I'm sorry but I still don't quite understand.

        Say I get the MCO cashback but don't spend it and over time it accumulates to 500 MCO can I then apply for the next level card or do the 500 MCO have to be a brand new purchase of MCO and not accumulated tokens?

        • Adamarc on 26/04/2020 - 12:11
          +1

          Yes you can once you hit 500 you can upgrade to next tier. Regardless of how you accumulated them

  • marka on 26/04/2020 - 11:59

    HSBC 2% cash back on payWave purchases under $100; definitely not the best bank but under more Aus regulatory scrutiny.

    • Adamarc on 26/04/2020 - 12:16

      When the Australian issued cards come out with bank issurer in Australia ( I'm guessing within the next 6-12 months) that will probably allocate your concerns as the funds will be held in aus bank (fiat money) and fully subject to all Australian banking regulations

      At the same time the free card will be available then as well. ( I can reply to you when that happens if you want)

      But for example I am at 247 usd cashback from card spending since Nov last year. I'd love to see any Australian bank that gets that high in a short period of time. ( Note I do have a mix of the 5000 & 500 tier during this time)

  • GordonHanley on 29/04/2020 - 11:51
    +1

    Hey any idea how long it’ll take for my card to get posted. I have verified my address and identity. Just waiting for the card to be posted.

    • Adamarc on 30/04/2020 - 00:30

      Sorry mate with corona no idea how long it will take, mine took 3 days, express posted through fedex however, but I was in the second batch so not sure if they are express posting it anymore they had a backlog then.

      They quote 10 working days from when status is changed to "shipped" in app. It will go from "pending" -> "issued" -> shipped

      I can't even get a book delivered from NZ since early March so I'll be interested to see when you get yours!

      Welcome to the club, if you need helping hand when you have card jump onto discord or telegram , I know discord is a good bunch of people :)

    • gizzard on 30/04/2020 - 10:54

      I received notification yesterday that mine had been shipped and is due to arrive on Monday 11 May.
      It's being sent by DHL.

    • whooah1979 on 30/04/2020 - 11:01

      Forget the card. BTC is pumping. FOMO now.

    • gizzard on 04/05/2020 - 09:25

      Just a further update on my ordered card in case it helps anyone else wondering how long it takes to get one after completing all of the id checks.

      The lack of transport is holding it up. It was collected, presumably from the card issuers, in Singapore on 29 April.

      It then sat in Singapore, presumably at the DHL offices, until it was moved on last night (3 May) and has now made it to Hong Kong.

      I was given an eta of 11 May and that looks about right based on the way it's moving around South East Asia at the moment.

  • Bluey123 on 08/06/2020 - 23:24

    In regards to point "6. Can Be linked with paypal ( Need to turn off paypal currency conversion though)" - How does one do this? I have been trying to look for how to do this but paypal website seem to have changed and the buttons to get there aren't there anymore.

    • Adamarc on 09/06/2020 - 13:34
      +1

      Yeah this was such a pain to find

      I'll see if I can find you the link, you have to get to their old ux to do it

      Update: apperntly PayPal has fully removed the option since I changed it

      Maybe ask support?

      Apperntly you can turn it of for recurring subscriptions easily, or at the point when you buy each time.

      Not ideal damnit PayPal.

      • Bluey123 on 09/06/2020 - 22:50

        Damn Paypal! I have found the old link but the options aren't there anymore :(. Maybe i'll try support for recurring payments see if they can help.

        I am trying to link my card to pay for my Spotify Family but it's saying its not an Australian card like you said "1. Currently Singapore issued Card so some annoyance with certain providers e.g Netflix & Microsoft ) however PayPal option can get around this ( Team is working on getting Australian Issued Cards)"

        I can still use Paypal and use my Ruby MCO card but don't know if i'll get stung by Paypal exchange rate (Haven't tested yet). Any alternates/solutions or how are you using the card to pay for Spotify?

        • Bluey123 on 09/06/2020 - 23:15

          Ah i figured it out from someone on discord. You choose the autosubscription (e.g. Spotify) in paypal and then when you go to the credit card you can choose the currency conversion. So you have to choose each company seperately and do it.

  • Shamwow01 on 19/08/2020 - 11:02

    Anyone got a tip on the best way to top up the card wallet with AUD to spend instore at minimal cost?

    Last night I topped up my card wallet with $300 SGD using my ING account / card (this cost me $305.56 AUD), I then converted the SGD to AUD in the Crypto app (in my card wallet) and got $303 AUD (with 7c SGD leftover). So it looks like I lost approx. $2.50 or 0.8% (give or take a bit due to the 7 cents). Would I be better off depositing AUD in my fiat wallet, purchasing BTC or CRO or something, then selling that to top up my card wallet?

    • Chocka12 on 17/09/2020 - 10:44
      +1

      I just leave it as SGD and don't even bother converting back to AUD after topping up but whether that's a good idea or not depends on how calculative an individual wants to be with regards to foreign exchange forecast.

      Given the card is currently issued by Singapore, you would expect foreign currency exchange at some point by either converting back to AUD straight away or leaving it as SGD and wearing the forex conversion at time of purchase. With the forex conversion rate offered by Crypto.com being 'perfect interbank rates' as they claim (I've compared it to xe.com and it's almost identical. Easily the best rate even compared to wholesale rates my mates in the travel industry would get), the difference for me is negligible but that's just my opinion. Especially since I consider the 4% cashback I'm getting would somewhat negate the forex conversion rate.

      With regards to your question, there is no such thing as a 'better' option for now. At least not until crypto.com announce a local issuer for the cards and allow us to do away with the card wallet being conducted in SGD. Even if you decide to deposit AUD into your fiat wallet to purchase BTC/ETH to top up your card wallet, don't forget that there's a spread when purchasing crypto through the app due to market buying. You might end up worse off in comparison, especially if the BTC etc. drops in value before you top up your card. On the flip side, it can work well if you are able to purchase on the way up and make some profit before topping up the card.

      Sorry for the long winded response that doesn't definitively answer your questions but either method will have its pros and cons. You just gotta work out what you'll be content with until the local issuer comes along.

  • bargainloads on 16/09/2020 - 14:01

    finally i ended up signing this one (Ruby) with 1000 CRO. had a trouble with paying through debit cards. 86400 and UP was not accepted and ended up using HSBC card. wiating to get address verified and then not sure how ling it is going to take to get card delivered. interested in knowing if there is a better alternative to quickly load money into the the app so can spend and get cashbacks for purchases on regular basis.

    • Chocka12 on 17/09/2020 - 10:58
      +1

      Topping up with a debit card is currently the quickest and easiest method to load your MCO card.

      Crypto.com have recently enabled PayID in order to directly deposit funds into your fiat wallet however there's been mixed reports from users of some deposits being completed within 15 minutes whereas others have had to wait nearly 2 days (I can vouch for the difference in processing times). Even then, depositing to the fiat wallet will still require you to purchase BTC/ETC etc. in order to top up your card wallet for spending.

      Unfortunately, there will be an indefinite wait before you will receive your card in hand. APAC cards were issued by crypto.com's Singapore issuer via a cross-border agreement however the the company has put a pause on new cards being distributed until they source a new issuer to replace the current one.

      There's information in the app's help centre in case you want to have a read.

      I upgraded my wife to the rose gold card 2 months ago. Whilst her current (Jade Green) card is still working with the upgraded benefits, she will not receive her new rose gold card until they start issuing through a new provider.

      • bargainloads on 17/09/2020 - 19:32

        thank you for the insight ! Payid is good one but with this time of delay there is no point me putting the money there without having a visibility of card. so will wait for them to deliver the card and then will top up.

  • FredAstair on 08/09/2021 - 20:20
    +2

    Just came across this post on a google search.
    Inetersting to see the negativity this post recieved here.

    Just thought Id,share my 6 month experience with Crypto.com here for those sceptics.

    In total I have invested ~$4500on crypto currency, to date

    My active portfolio is current at ~$7500.
    It was at ~$8700 yesterday during a big bull run with the likes of Bitcoin.

    I decided to sell some more of my Bitcoin, CRO, and another smaller coin as I am versed in stock market candlestick charting and felt that there could be an eniment dip soon.
    I was correct, and thus my cashedmout amount of ~$1025 allows me to then rebuy on those coins on the massive dip of both Bitcoin and CRO.

    Besides my active portfolio amount I have also cashed out ~$1500 so far, meaning if I sold all tomorrow (minus the cash out fees) I'd have profited around $4500.

    Not bad way to double my money in 6 months I must say.
    But not planning on quitting just yet…also not letting greed take over… I'm just slowing building my profit and will soon be playing with 'casino money' with the coins and will use this as a decent investment. (In app investment opportunities for variable and up to 3 month term deposits can be between 6, and up 14 % plus..

    Oh and getting things like spotify 100% remboursement and when I upgrade my Crypto visa card in November I'll also get this for Netflix, then this was a no brained for me.

    And if I get to travel in December (if travel restrictions removed) then I'll enjoy the free booze and food at the airport lounge too.

    So.., yes.. I have lost some money in some coins, but if yoj play it smart, diversity your coin portfolio, and actually do your homework and not buy into crap like Doge coins for example, then you can certainly make more money that if you leave your money in the bank…

    Happy to share any further info for anyone who is interested.

  • ThaiChiMeatball on 05/02/2022 - 09:37
    +1

    Hey everyone,

    I'm on board with a Ruby card. Any ideas how long it takes for the 2% spend back to appear in the crypto wallet? Can't find anything in the T's and C's with timelines.

    Regards,

    ThaiChiMeatball

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