Crypto.com launches Visa card in Brazil with cashback on all purchases – Finance – Tecnoblog

Crypto.com, a crypto services company that has just arrived in Brazil, announced last Thursday (11) the launch of its cryptocurrency visa card for Brazilians. The new product allows the conversion of the company’s native digital currency, CRO, into reais for payments in any store, physical or virtual, that accepts the brand. In addition, there is a cashback program that offers between 1% and 8% return on all expenses.


Visa Crypto.com cryptocurrency card (Image: Disclosure/ Crypto.com)

The Crypto.com Visa card has already been launched in Singapore, United States, Europe, Canada, Australia, and some countries in Asia and the Pacific. Now, the cryptocurrency company has also launched the product for the Brazilian market at a time when digital currencies are increasingly present in Brazil.

We are talking about a prepaid card that works in the debit mode. Unlike other (several) similar products on the market, the Crypto.com Visa card can only be loaded with traditional currency or the company’s digital currency, the Crypto.com Coin (CRO). Benefits are also determined based on the “staking” of the user, that is, in the amount stored in the cryptocurrency for at least six months.

The CRO, in the quotation consulted at the time this article was published, was worth R$ 1.94. In practice, the card launched by Crypto.com allows the user to store Crypto.com Coin and use it to make payments at any store that accepts the Visa brand, with automatic conversion to reais at the end of the transaction, according to the digital currency quotation at that time.

Crypto.com card allows payments with cryptocurrency (image: Anete Lusina/Pexels)
Crypto.com card allows payments with cryptocurrency (image: Anete Lusina/Pexels)

Cashback reaches 8%, but asks for a million-dollar investment

However, the advantage of the new product is its benefits program. Crypto.com is offering up to 8% cashback on all transactions with your Visa card. Plus, payments for streaming services like Spotify, Netflix and Amazon Prime can be 100% refunded, there’s access to airport VIP lounges and even private jet partnerships (for a few), and more.

However, there are many requirements for all of this. The cashback percentage is based on the balance and the “staking” from CRO of the user’s digital wallet. That is, the more CRO purchased and held in the account, the greater the cashback. In total there are five benefit levels available.

The card can be requested by anyone through the Crypto.com app, but first it is necessary to keep some value in CRO for 180 days. After this period, the card will be issued.

The Crypto.com card is made of metal and comes in several different colors, determined by the user’s level of benefits. The simplest is Midnight Blue, the only one that doesn’t ask for any CRO value, but the cashback on all purchases is only 1%. Obsidian, on the other hand, asks for a million-dollar investment (BRL 2.5 million) to grant refunds for 8%.

Check all Visa Crypto.com card cashback levels:

Crypto.com Visa card cashback varies between 1% and 8% on all purchases (Image: Disclosure)
Crypto.com Visa card cashback varies between 1% and 8% (Image: Disclosure)

In addition to cashback on all transactions, from Royal Indigo and Jade Green level some services receive additional refunds, up to 100% for streaming platforms:

Depending on the level of benefits, streaming services are 100% refunded (Image: Disclosure)
Depending on the level of benefits, streaming services are 100% refunded (Image: Disclosure)

It is worth noting that all returns from the Crypto.com cryptocurrency card benefit program are returned to the user in the form of a CRO, not in reais. There are monthly limits on free withdrawals from R$1,000 to R$5,000, depending on the level of the card, and the exchange rates applied also vary. There is no fee or annuity charge in any modality.

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