• long running

Crypto.com Australian Virtual Visa Card, Stake $500 CRO for Free Spotify Premium & 2% CB with Ruby Steel


Just got the email that crypto.com now are issuing aussie debt visa cards. The are starting with virtual but will soon have physical cards.

Also stake $500 worth of CRO for free spotify premium and 2% Cashback with ruby steel card.

This card is issued by Foris GFS Australia Pty Ltd, holder of Australian Financial Services License No. 467462 (AFSL) issued by the Australian Securities and Investments Commission and a license from Visa Worldwide Pte Ltd.
Please go to Crypto.‌com Visa Card - Rewards for more details about card benefits and perks.

Referral Links

Referral: random (843)

Both referrer and referee receive US$25 on sign up (NOTE: must stake at least A$500 CRO for 6 months). Turn off adblocker when attempting to obtain a referral link

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  • +2

    how about netflix?

    • +4

      That's the next tier where you have to stake $5000 worth of CRO.

      • seen the ads for this, what is meant by stake? Is it funds in account or funds in actual cryptocurrencies?

        • +4

          "Stake" or "Staking" means the holding of CRO in your Crypto.com App Wallet for a period of 6 months.

          • +5

            @spaceflight: Just to add to this, when you're staking CRO for a card, your CRO is completely locked for 6 months - you can't withdraw or sell/trade.

          • +1

            @spaceflight: crypto.com has pretty good marketing, but I think they fail to tell you the following

            1) if you stake $5000 worth of CRO you would have normally received ~10-12% ($500-600/year) - i.e. you could have just paid for the Netflix, Amazon Prime, Spotify and have some leftovers if you just did this yourself
            2) if the price of your CRO drops, you will be losing money!
            3) the rebate is paid with CRO and that's likely a taxable event.
            4) when you decide to sell your CRO, that would be a capital gain or loss event.

            • @SeVeN11: Agreed but their customer service is average so I doubt they’d be able to include that information. Furthermore it’s also up to the customer to DYOR for what could impact you in your country.

            • @SeVeN11: 1) I wouldn't buy it just for Netflix, you can get ultra hd via turkey for A$7.. but apparently people are getting this reimbursed too. Bit of a waste of US$14 quota.

              2) that's the same as any cryptos & shares. Staking is like any other, it doesn't lock the Price.

              3) & 4). Any interest payments/ dividends are a taxible event, the banks give you stuff all these days so may as well get something back for staking.

              As a side note it's funny people saying this will easily go to $2.. barely maintaining $1. Maybe in 10y. Still, wouldn't mind getting some more if drops down to 50-80c again, sell at $1.20 or so

              • @G-rig: Then this is your moment.
                Dropped today.
                As expected tbh?

                1). Doesn’t Turkey Netflix have Turkeys content. Thus you may not get some things currently on au Netflix ¿

                2) for stable coins and alt most of these are continuing to rise and thus unless you’re shot term trading, if it beats inflation it’s still Better than left in a savings account (btw banks caused this to be an oxymoron savings and account).

                3&4) Exactly. And if you then stake CRO in their hot wallet (DeFi app) you can get up to 13% on it atm.

                • @FredAstair: Yeah upgraded, didn't quite get the bottom price but good enough.

                  No, the turkey VPN is just for reactivating your account and payment purposes, it still shows Australia as it was before for the content and account etc. Probably still worth getting cash back on it as some people seem to be.

                  Just on the card upgrade, I'd expect a waive of the card reissue fee ($70) since restaking starts again but apparently they aren't doing this and expect you to pay. Bit rude.. My ruby card has been shipped but no sight of it so still need to get on the chat. Would be nice if the app showed a picture of the upgraded card at least?


                  • @G-rig: Takes about 5 business days for the new card number to show in the app.

                    • @reubenb87: no worries so does the virtual card change to jade etc without ordering a new physical card?
                      Assume all the benefits but no card without paying again (have got on the chat to see if they can send one, still haven't received the ruby from a while ago)

                      • @G-rig: Oh so you didn't pay the $70 upgrade? Sorry not sure then, I paid the $70 as I didn't know you didn't have to!

                        • @reubenb87: Not yet, seems like a waste of $70 and since re-staking starts again it should be free imo.

                • @FredAstair: So let me get this right.

                  The CRO that you stake you get the staking rewards, ie the up to 13% return

                  On top of that you get 100% rebate on Spotify and 2% Cashback on purchase?

                  Can you fund the debit card with a credit card? Or afterpay or one of the BNPL cards?

                  If so that's actually a pretty good deal….

                  • @SeVeN11: Not sure of funding it options.
                    I just use my ING début card and do it as a 'PAY-ID'..

                    Oh, and if your interestes in it, the expected dip & correct for their CRO coin came later than expected (I've been waiting since Oct).

                    So it's like a CRO coin fire sale atm, or a late Black Friday if you want.
                    It's down to $0.80 from $1.00 (which due to the tokenomics, will bounce back in early 2022.. Or even sooner).

                    • @FredAstair: Yeah I've transferred some money into the account… Just waiting for funds to clear.

        • Funds in actual cryptocurrencies.
          Treat the deposit (“Stake”) like a term deposit for all intents and purposes.

          • +20

            @JDMcarfan: This is incredibly poor advice. These staking pools should never be compared to term deposits - one is a regulated activity where the funds are invested in productive activities with the deposit guaranteed by the Government, while the other is an unregulated machine without any clear economic motivation with the yield ultimately coming from greater fools. People will obfuscate this by claiming "oh, it's actually just gambling on derivatives" but in the end money is flowing out to pay yields, and that money needs to flow in from somewhere else.

            Here's a life tip - if a financial institutions wants you to deposit money or engage in their high yield funds and offers you a free Netflix subscription if you invest enough money, run away. Greed, fools and stupidity.

            • +1

              @Tyrx: Don't tell him I'm about to start a IPO for him and like minded people call FTF (FleeceTheFish)

            • +12

              @Tyrx: The chums in this day and age are the people that park their savings in term deposits to earn ZERO interest.

              People that love money use lending platforms to earn 8% 1Y on their deposits.

              • +1

                @rektrading: 8% for this high risk lol, now that is stoopid

              • +2

                @rektrading: There are several additional things to consider here:

                1) Convert AUD to USDT/USDC on central exchange- Approximately 0.20-1% fees
                2) Move USDT/USDC over to Nexo/Celsius for the said 8% interest - Your wallet may get hacked/lost- no way to call bank and claim protection, or nexo may get hacked or go bankrupt, your funds are not guaranteed!
                3) You earn in USD, if you look at Forex, USD has been getting stronger, the chart looks like it will only get stronger into next year, if it gets stronger by 5-10%( which is very likely!) all your earnings on USDT is lost when you convert it back to AUD a year later

                If you are OK with above risks, yer worth considering these options

                But people don’t always give the full picture, thats how new money comes in thinking too good to be true.

                Heck; people have thrown 100s of thousands in CAKE staking pools thinking it is easiest way to earn 72% APY, but down big as CAKE keeps tanking! Your initial deposit isn’t guaranteed .

                • +9


                  1. Deposit AUD via PayID

                  2. Buy TAUD (zero cost) and transfer to Celsius.
                    Note: You will pay a withdrawal fee so make sure you have a reasonable amount of TAUD to transfer.

                  No need for steps 1-3 as mentioned above.

                  Celsius and CDC are some heavy hitters. Banks are already trying to stop them for taking their cut of the dollary doo pie.

                  • @ph81: Where do you buy TAUD? Do you get paid in TAUD or their native currency?

                  • @ph81: Thanks for pointing out that option, as Celsius has zero swap fees too if staking another coin there was a better option. I haven't compared the spreads though to know if they're sneakily taking it there.

                    @hermit TAUD would be bought on crypto.com and Celsius give the option of being paid in their native currency (CEL) or in the staked coin. I don't really trust CEL - believing it is their way of hedging costs, so tend to get it in like-coin unless there's a big APY difference.

                    • @Janko: Thanks! Are there any costs to buy on crypto.com? And any onramp/offramp to get TAUD into AUD into your bank?

                      Also helps to know what APY% Celsius pays to get rewarded in TAUD rather than CEL

                      • @hermitcrab: Not if you're purchasing TAUD. It's a stablecoin. So 1:1 and no cost associated to purchasing. If you withdraw (to Celsius) they smash you with a withdrawal fee, but that's why I say move a decent amount and a Celsius interest payment will cover the fee. That's what I do.

                        If you're wanting to cashout TAUD on CDC its zero cost and free withdrawal.

                        From experience, they tend to be a bit slow with withdrawals (read not instant) but the money does come through.

                • +2

                  @hermitcrab: hang on… if you're converting your AUD into USDT/USDC at the start and then earning in USD and it goes up 5-10% in that time… why would your earnings on USDT be lost when you convert back to AUD?

                  Wouldn't you get the USD equivilent in AUD when you cash out into AUD? I mean… there's a whole market out there for people who trade currencies on the premise that some currencies hold their value better than others so you can trade them in and out and collect the difference. Or have i misunderstood what you are saying?

                  • -1

                    @mitchalbrown: Will try to explain with some numbers:

                    Currently 1AUD=0.747 USD

                    Let's say you convert 1000 AUD to USD and deposit

                    you deposit $747 USD * 1.08= 806.76USD after 1 year

                    If 1yr from now, 1AUD= 0.79USD (very much likely)

                    You receive 806.76/0.79= $1021USD - That is more like 2% return, rather than 8% return you were expecting! Hope this helps

                    • +2

                      @hermitcrab: But why would you use USD at all ?
                      You can just buy TAUD on Crypto.com (AUD stable coin) and then drop it in their 3 month earn product to earn 12% annual interest.
                      Put your 1000AUD in there, and after a year you have 1120AUD - no currency FX losses.

                      • @Nom: TAUD isn't available anywhere else, I can't find it on any Dex/Binance/Kucoin

                        How do you fund TAUD, is there any "gotcha" fees to fund AUD—> TAUD on crypto.com?

                        • @hermitcrab: Yeah it's very limited. But that doesn't matter if you just want the 12% return…

                          No gotchas for funding - 1 TAUD costs 1 fiat AUD (do a free bank payment to get AUD into your fiat wallet, then use this to buy). No fees, no loss.

                          • @Nom: thanks, I have a lot of cash sitting in Anchor protocol for 19.5%, obviously crypto.com is less risky, at 12% this is good!

                            • @hermitcrab: Spread your risk around 👍

                            • @hermitcrab: How long have you been using anchor and have you found the Algo stablecoin to be stable over the period you've had it?

                              I've invested in some algostablecoins in the past and it's never stable… Worse one was iron finance where the titan coin securing it went to zero.

                              Let me know.

            • @Tyrx:

              These staking pools should never be compared to term deposits - one is a regulated activity where the funds are invested in productive activities with the deposit guaranteed by the Government,

              Just because it is a term deposit does not mean the deposit is guaranteed by the government.

              • @spaceflight: They are if they're with a Institute covered by the Financial Claims Scheme (i.e. most Australian based financial institutions that take deposits)

                Rule of thumb, if they're reporting to APRA, they're covered.

                • @M00Cow: I know but that isn't what Tyrx said.

                  And as you said it is most Australian based financial institutions that take deposits.

                  Which means just because it is a term deposit does not mean the deposit is guaranteed by the government.

              • @spaceflight: Also one is deflationary and one is inflationary.

            • @Tyrx: Didn't expect to get such a strongly worded response but must admit that it's fair.
              I work in the banking sector myself so I agree 100% with what you've mentioned above and I personally wouldn't touch any of these products with a 10 foot pole.
              The intention of my response was to just indicate that the concept of "staking" on these products are quite comparable to the requirements of TD's, in that you wont have any access to your funds for the entire duration of the "staking" period (ofc with TD's you can pull out earlier (with notice) and forfeit all interest earnt).
              In all honesty I probably should've thought my answer through.

              • @JDMcarfan: There are few breeds of staking - some you can't pull out early even with loss of staking rewards , some you lose the earnt rewards like TDs, others you can stake without losing custody.

            • @Tyrx: Mate, I understand your concerns, but Crypto.com is as safe as it gets in the crypto sphere. Pretty much centralised and regulated to within an inch of its life. It is also one of the best onramps for fiat. Regardless of personally held views, the Crypto market cap is expanding exponentially and this is one of the safer places to park your investment for "modest" profits. Way too safe for myself though.

            • @Tyrx: Not sure your advice is actually better.
              In fact it appears worse tbh.

            • +1

              @Tyrx: This fool has quadrupled his investment in less than 6 months (im talking tens of thousands Btw).

              I think I'll just continue to be foolish if that's your opinion of people who invest in a stable coin like this one.

              • +1

                @FredAstair: You're free to have your own opinion. These type of staking pools aren't "stablecoins" either - the fact you think that indicates you don't understand the financial instrument you're dealing with. That increases the chance you will be left holding the bags at the end.

                • @Tyrx: Ironically the fact that you lack knowledge in tokenomics is shown here.

                  You sound more like a bank manager or a politician with your words here than you do a true ozbargainer.

                  Sure.. If I waa to put all my eggs on one basket then I'd risk 'losing my bags' as you put it.
                  Thus isn't the case with educated crypto investors.
                  Most also hold shares and other financial items.

                  The fact that we make a huge profit which we can then push into onto investments sort or makes you assumptions of me kind of…well.. Ill thought out tbh.

                  In crypto alone I have BTC, ETH, and CRO invested between 6-13% APY.
                  The rest of my portfolio contains a nice handful of higher risk coins that I buy and sell to add to profits.

                  I also gain a nice percentage of crypto gains from simply using my CROVisa card instead of a less incentive one provided by a fat bank.

                  So before you judge me and other crypto investors just remember this:
                  At one stage they convinced people with gold that they cdisnt have to lug around their heavy bars of gold but instead could carry around pièces of paper (they ridiculed them about this). This was the move from Gold to paper money.
                  Then they tried to convince people that they didn't in fact need these bit of paper but instead send their money digitally to buy things (they ridiculed them about this).
                  Then they tried to convince countries that they didn't have to have so manhy different currencies and could reduce this (they ridiculed them about this)
                  Then they tried to convince people that there's no way the world could have a currency than could be used instead of different ones for each major country (they ridiculed them about this)

                  So instead of a,world that pushes for globalisation certain bodies try to: restrict the use of money from region to région, charge exorbitant fees for the privilege of changing your money over to another type, and attempt to make your money different prices,depending on greedy whales that regularly manipulate the price of said money.
                  Then someone came up with away to basically have freedom of your money to do what you want with it and not have to pay greedy institutions for this privilege (and now thosetry to ridiculemthem about this).

                  Ironic huh.

                  • @FredAstair: Absolutely nothing you posted shows why I "lack knowledge in tokenomics" - I would love to be enlightened as to why you think so. You also forgot to parrot the "inflation will drive the value of the dollar to zero" line by the way. That's an important one to remember!

                    Then someone came up with away to basically have freedom of your money to do what you want with it and not have to pay greedy institutions for this privilege (and now thosetry to ridiculemthem about this).

                    Crypto is even more manipulated than traditional markets, the fees are even larger because all the middle men (miners, exchanges, etc) need to get their cut, the wealth inequality is even larger than normal, and the market is so volatile that by the time a transaction is complete the value of what the other person gets might be 15% less. You're just cutting off your nose to spite your face

                    • @Tyrx: In your words. 'Your free to have your own opinioms'.

                      • -1

                        @FredAstair: For the sake of accuracy, I actually said "You're free to have your own opinion". I wouldn't want anyone coming to false conclusions about my aptitude at literacy.

                        • @Tyrx: Is that defi staking in addition to the '10% interest' for the normal Jade $5000 stake?

                        • @Tyrx: Or your grammar nazi skills for an autocorrect error.

                    • -1

                      @Tyrx: -15% because of costs and up +160% 1Y.

                      Where do I sign up?

                    • @Tyrx: I bet you’ll have an option on this one too. Huh.

                • +1

                  @Tyrx: People get +19% on stablecoins.


                  Any questions?

                  • @rektrading: Which platform is that?

                  • @rektrading: They're not actually getting the return on the stablecoin. That's like arguing that someone who invested dollar-denominated CDs obtained "mad returns on their AUD". Where do you think the money comes from? Not by crypto loans, I assure you.

                    • @Tyrx: Is it escorts, drug dealers?

                    • @Tyrx: Not Many would have cashed out at $1.30, it's all "long term"

      • +1

        They have added AUD option on their website but not on the App at the moment. Website shows $4000 AUD.

        • Probably as they only officially commenced in Australia in Nov this year.
          I'm sure they be faster at rectifing this than Australia post deliverihg my sent parcels in December.

        • It's$5000

      • I think you'll find it $4000AUD.

        I just started the process of upgrade to Jade Green visa card

  • is it in aud or converted to usd with each transaction?

    • +6

      No conversion required now with AUD cards. Base currency is AUD.

  • +3

    FWIW The 2% CB is issued in their own crapcoin — although it is fairly stable (for crypto) it could fluctuate

    • +7

      $500 is not that big risk given the upside

      • +2

        They also burned 71 billion CRO back in Feb this year. So they don't hold most of the supply anymore.

      • +1

        What upside?

        • +2

          100% cashback in CRO for spotify and 2% back on all purchases. And if you stake the $4,000 Tier you also get 10% interest paid weekly, 100% cashback in CRO for Netflix and 3% back on all purchases.

          Take a look at their Taud offering in EARN section

          • +3

            @Slippery Otter: To clarify, that 10% is 10% per annum, paid weekly

          • @Slippery Otter: Can you apply the Netflix credit for different countries ie Netflix to Turkey? It's cheap enough via VPN signup (and don't use Spotify) so I'd probably only find value in the Ruby. Also one you unstske the $4000 you don't get the benefits. Still wouldn't mind a the card for free free ish use, but already got a Citi debit/28 degrees.

          • -4

            @Slippery Otter: So which part of that doesn't scream scam?

            TulipCoin is on the rise

            Pretty much correlates to TulipMania

            • @M00Cow:

              So which part of that doesn't scream scam?

              He's just listed the benefits of joining up with a stake - there's nothing there that indicates scam. Many people have been gladly accepting these benefits for the past couple of years.

            • @M00Cow: Pay no heed ot this FUD spreader.

              Take your fiat bag and play elsewhere.

          • @Slippery Otter: 4k in which currency?

            • @capslock janitor: $5000 AUD, think it used to be $4000 Singapore dollars. Should update my netflix billing, even if it's turkey. Hopefully doesn't muck it up

    • +2

      Their crapcoin aint too bad, i'm up 20% on my holding + the staking rewards. It was up as high as 30% recently but there has been a fall in the Crypto market is the past week.

      They are also doing lots of advertising and sponsorships so their presence is growing. Their App was 3rd on the US itunes store last week with Coinbase number 1.

      So far it hasn't been too bad, i wasn't expecting much.

    • Wondering why you’re using the word ‘crap coin’ here..

      Never heard this coin being referred to like this before.
      You’re the first.

  • +4

    Been a CDC user for over a year, signed up in August last year before they had payID option and was MCO.

    Use the VISA Stake, DEFi wallet,Supercharger and Earn. The 3% cashback from the Indigo tier is great. The app isn't designed for day trading. Just buy crypto @ market rates and chuck in earn until you are ready to sell.

    Aiming to icy white upgrade when CRO hits 0.43c as I have accumulated a lot of CRO.

    Looking forward to recieve the Australian debit card and finally natively topping up in AUD.

    • They do have a separate app for Crypto.com Exchange now so you could do day trading if you wanted

      • +2

        I wish they had AUD trading pairs on the exchange like Binance and Kraken.

      • Been trying to do this.
        Inc at find a way to buy coins outright on it.

        Just exchange coins for other coins.

        Is there something I'm missing?

    • Mmmm I've never considered CRO seriously at all, didn't even know the VISA card rewards existed. Kinda confused how it works - so if you get your cashback in CRO you'd need to then reuse the Visa card to use the CRO or do you just withdraw to AUD immediately? And it's at the prevailing exchange rate so the value may fluctuate, so it could go up or it could go down?

      The cashback sounds good in theory… does it outcompete the Coles Flybuys card especially when there are no annual fees?

      • +4

        I own the Coles Platinum Card since 2017 and this beats it hands down! Flybuys just sits there.. Until you use it. CRO can be transferred to DEFI or supercharger and generate a little extra income for you.

        Reuse the VISA Card to use CRO? So the VISA card is seperate. You load it up with Fiat AUD and make your purchases. You get CRO cashback which sits in your crypto wallet. If you earn about 100 CRO, you can transfer it to the supercharger (like a variable saver account) and earn interest in different cryptocurrencies until you are ready to sell your CRO, Redeem for gift cards or keep accumating to upgrade your stake.

        • +4

          Ah so it's more like a prepaid debit card. You're not directly purchasing with CRO, just the cashbacks are deposited in CRO.

          Thanks that's very handy information!

          • @donkeyhokey: Which is great for vendors like amazon.com.au who are now forcing people to pay 0.5% for use of credit cards.

            They refused my CROVisa card recently but after persistance I was able to now use it.
            (Which should pavé the way for anyone else who wants to use this card there).

            • @FredAstair: That's what I was considering getting this for - unless Suncorp can pull themselves together and fix my issue with purchasing gift cards.

              They refused my CROVisa card recently but after persistance I was able to now use it.

              Do you mean you had to contact support for it to be allowed, or it eventually worked?

        • Since this is prepaid visa, there won't be any credit check, will there?

  • How long is the Spotify Premium for?

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