Crypto.com, a crypto services company that has recently arrived in Brazil, announced last Thursday (11) the launch of its Visa cryptocurrency card for Brazilians. The new product allows the conversion of the company's native digital currency, CRO, into reais for payments at 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.
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The Crypto.com Visa card has already been launched in Singapore, the 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.
Crypto.com card converts cryptocurrency for payments
We are talking about a prepaid card that works in 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). The benefits are also determined based on the “staking” of the user, that is, the amount held in the cryptocurrency for at least six months.
The CRO, at the quoted quote at the time publication of this article, 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. as the price of the digital currency at that time.
Cashback reaches up to 8%, but requires a millionaire 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. In addition, payments for streaming services such as Spotify, Netflix and Amazon Prime can be 100% refunded, there is access to VIP lounges at airports and even partnerships with private jets (for a few), and more.
No however, there are many requirements for all of this. The cashback percentage is based on the balance and CRO “staking” 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 levels of benefits available.
The card can be requested by anyone through the Crypto.com app, but before that it is necessary to keep some amount 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 amount in CRO, but the cashback on all purchases is only 1%. Obsidian, on the other hand, asks for a millionaire investment (R$ 2, 5 million) to grant refunds of 8%.
Check all Visa Crypto.com card cashback levels:
In addition cashback on all transactions, from the Royal Indigo and Jade Green level some services receive additional refunds, up to 100% for streaming platforms:
It is worth noting that all returns from the Crypto.com Crypto Card Benefits Program are returned to the user in the form of CRO, not in reais. There are monthly free withdrawal limits from BRL 1,000 to BRL 5,000 depending on the card level and the exchange rates applied also vary. There is no fee or annual fee in any form.