Update 7/23/22: More negative changes:
Existing Jade Green, Royal Indigo, and Ruby Steel Crypto.com Visa Card users who activated their Card before July 23, 2022, 11:00 EST will enjoy the merchant rebate benefits (Spotify, Netflix) available through their Card tier and subject to current conditions for six more months (until January 23, 2023, 11:00 EST). Thereafter, cardholders will not receive CRO reimbursement(s) when spending with these merchants. Instead, cardholders will receive up to 2% back when spending with these merchants, depending on their Card tier.
Private Members holding an Icy White, Frosted Rose Gold, or Obsidian Card will continue to enjoy their existing merchant rebate benefits.
Crypto.com has announced huge negative changes to their lineup of debit cards. Crypto.com basically offers five different tiers and requires staking crypto for 180 days to get in that tier. The changes are as follows:
The negative earning rates are bad enough, but Crypto.com is also introducing a rewards cap as follows:
- Ruby Steel: $25 monthly cap
- Royal Indigo / Jade Green: $50 monthly cap
- Icy White, Frosted Rose Gold, and Obsidian cardholders: No cap
Crypto.com has been criticized for making these changes without informing cardholders directly, with many finding out from social media. For more discussion of these changes I’d recommend this reddit thread.
How do these tiers work? It’s so weird that you stake a fiat value to have the different cards. If you staked 4k worth of CRO a few months ago and your CRO is worth 800 dollars now you’re basically kicked down a tier for participating in this BS?
bingo protip: it’s a scam and a pyramid scheme
You never get kicked down tiers if you leave your CRO staked (yet, they could always change the rules), but moot point since the incentives are essentially dead now
The way the tiers work is this: The higher tier you achieve, the more money you’ve apparently pissed down the drain.
If you haven’t harvested your tax losses and gotten your crypto on a ledger, you’re doing it wrong
Very sad. No longer have access to money printer
Usual bait and switch
Thanks a lot Matt Damon
We should’ve been more brave.
So what do these endless devaluations mean, exactly? People aren’t being brave enough?
They mean that crypto startups don’t have the revenue to pay out rewards.
Scammer gonna scam.
Crpyto cards are to card deals. As the Dollar General is to a super market.
At what point do we stop talking about crypto ‘deals’?
When people are not talking about them it is generally a good time to buy, when people are talking about them it is generally a good time to sell. As somebody who has been in the crypto market for many years I generally use retail customer sentiment as a gauge for my entries/exits.
dont let the cat outta the bag
At what point do people who don’t have, use, or understand crypto stop asking “at what point do we stop talking about crypto deals”?
We will stop laughing when people like you with massive losses stop posting
I understand crypto/blockchain very well
None of you are ‘using’ bitcoin (not a currency, neither a store of value)
12 years, uncountable energy spend and not 1 practical use case
I can see you arguing no practical use cases for the US maybe. Definitely use cases from a global perspective
All these fintech companies are built on a bait-and-switch business model
Just have to beat them at their own game. Use the rewards till they dry up then churn to the next opportunity