Crypto.com Visa Review 2024 (2024)

Earning Rewards

The Crypto.com Visa Card*​​ allows cardmembers to earn cash back in the form of CRO Rewards. CRO rewards are Crypto.com’s cryptocurrency token, which can be traded on crypto.com’s platform into other digital coins or even into fiat currency.

Crypto.com’s Visa card is actually a series of cards. Each card level is dependent on how much you stake—the more you stake, the more benefits and perks you can unlock. The highest card, Obsidian, for example, offers up to 5% CRO back on most purchases.

Unfortunately, the amount you need to put up makes the highest card irrelevant to all but the most devoted crypto enthusiasts. In effect, the two highest levels are out of reach for most, which makes the advertised rate of “up to 5%” somewhat misleading.

Staking

Unlike other traditional credit and debit cards, the Crypto.com card requires you to “stake” funds. Staking is more or less locking in your funds for a specified amount of time with the specific platform. In the case of the Crypto.com card, that would be Crypto.com and its CRO token. CRO token values, like all tokens, vary according to the crypto market. Essentially, users give the card issuer a loan with their cryptocurrencies and in return, crypto.com offers an array of benefits.

The staking requirement for the Crypto.com Visa Card* is fixed in U.S. dollars instead of CRO.

Staked funds must be held for six months. Once a cardmember unstakes their CRO, the benefits of each tier will be reduced. To keep rewards and benefits, users can keep CRO staking beyond the initial six-month staking period.

Earn With Dosh

Cardholders of the Crypto.com Visa can link their card to Dosh, an app that gives you cashback when you shop at eligible merchants, and earn bonus rewards when paying with that linked card. When shopping online, purchases must be made through the Crypto.com app in addition to paying with your Dosh-linked card.

Your bonus earnings rate will vary from retailer to retailer but can amount to up to 10% cashback at a handful of merchants.

Redeeming Rewards

CRO Rewards are earned on eligible purchases, and depending on which tier of card you hold, will earn a certain percent back. Following the transaction, CRO Rewards are deposited to your account instantly.

• Obsidian: Crypto’s top-tier and most premium card, this option comes with a staking requirement of $400,000. Obsidian earns 5% (active stake) CRO Rewards and 2% (no stake) on card spending. Other perks include: a monthly reimbursem*nt on subscription services from Spotify, Amazon Prime and Netflix. Fee free ATM withdrawals are capped at $1,000 per month.
• Frosted Rose Gold and Icy White: Crypto’s second highest cards, users can choose either the Frosted Rose Gold color or Icy White. The staking requirement for this second tier is $40,000—still incredibly high. The perks also decrease, although they earn a monthly reimbursem*nt on subscription services from Spotify, Amazon Prime and Netflix. Frosted Rose Gold and Icy White earn 3% (active stake) 1% (no stake) CRO rewards on card spending. Free ATM withdrawals are allowed up to $1,000 each month.
• Royal Indigo and Jade Green: Crypto.com Visa Card*​​’s third-tier cards also come in two options, Royal Indigo or Jade Green. Staking requirements for these cards is $4,000. Royal Indigo and Jade Green earn 2% (active stake) and 0% (no stake) CRO rewards on card spending. Monthly CRO card rewards are capped at $50. Additional perks include a monthly reimbursem*nt for the first six months on subscription services from Spotify and Netflix. The fee-free ATM withdrawal limit is $800 per month.
• Ruby Steel: Ruby Steel is the fourth-level card. A Staking requirement of $400 is required. Benefits include a monthly reimbursem*nt during the first six months for Spotify subscriptions. Ruby Steel earns 1% (active stake) and 0% no stake, up to $25 a month in CRO Rewards on card spending. ATM fee free limits are $400 per month.
• Midnight Blue: The Midnight Blue card is Crypto.com’s free option, meaning there is no staking requirement. The card has very few perks and earns no cash back. The monthly fee free ATM allowance is $200.

Benefits from spending on the highlighted earning categories are in the form of reimbursem*nts. Private members with an Obsidian, Icy White or Frosted Rose Gold card can earn one reimbursem*nt per merchant per month. All other cards will only be eligible for reimbursem*nt for the first six months of card ownership. The monthly rates for all cards are capped at the following:

• Spotify: $13.99
• Netflix: $13.99
• Expedia: $50
• Amazon Prime: $14.99
• Airbnb: $100

ATM fees are waived each month, up to a dollar amount depending on the card. After the limit is reached, fees on the withdrawal amount are increased to 2% thereafter.

Rewards Potential

Forbes Advisor uses data from various government based agencies to estimate and determine the baseline income and average spending in assorted categories for consumer credit cards. Wage-earning households in the 70th percentile bring in roughly $116,000 annually and can reasonably charge $36,177 to credit cards each year.

Most families wouldn’t stake more in crypto than a premium credit card would charge, so we’ll base our assumptions on the Ruby Steel card. This card requires a stake of $400.

The Ruby Steel card earns 1% (active stake) back in CRO, so our household could earn $361.77 back in CRO with all charges on the card. The rewards sound a bit more harmonious if you already subscribe to Spotify because this level does get a Spotify rebate of up to $13.99 per month for six months.