Crypto.com Visa card slashes Spotify, Netflix CRO rebate benefits twice in an hour
Updated
Crypto.com announced some changes which the firm says will ensure the long-term sustainability of its Visa card program.
The digital asset exchange adjusted the benefits program for select Card tiers on 23 July of its prepaid debit card.
Users can preload using a range of either fiat or cryptocurrencies, such as BTC or ETH.
ETH to US dollar
Card users who activated their upgraded Jade Green, Royal Indigo, and Ruby Steel cards before the July date 23 will receive the corresponding Spotify and Netflix rebates for another six months.
Cardholders who upgraded after 23 July 23 will enjoy the rebate benefits offered with the new card tier for six months starting from the upgrade date.
At that point they will stop receiving $CRO reimbursements when spending with these well known names.
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Icy White
Top tier private Members who hold cards with snazzy names including Obsidian, Icy White, or Frosted Rose Gold Card will get all benefits.
There is no change to other Crypto.com's Visa card benefits, such as $CRO cashback.
Visa’s tie-up with Crypto.com card got digital coin enthusiasts excited when it launched the world’s first crypto friendly credit card.
But users are getting flustered by Crypto.com’s decision to impose a 1% top-up charge.
It is unclear how to dodge this new charge.
What other crypto debit cards are there?
Crypto.com may have grabbed the headlines with its groundbreaking crypto visa debit card but it is not the only player in this sector.
Crypto big beast Coinbase, for example, has a debit card which enables users to make retail purchases with a broad range of cryptocurrencies.
The Coinbase card enables end users to cash out their holdings in BTC, ETH and DOGE by linking up with payment services provided by tech titans Google and Apple.
According to the digital asset bourse users of the crypto debit card can earn rewards up to 4% if they made a purchase using it.
DogeCoin to US dollar
Crypto debit card demand on the rise
There is a good reason for the release of a number of crypto debit cards and that is increased consumer demand, according to the results of a recent survey.
PYMNTS , ‘The U.S. Crypto Consumer: Cryptocurrency Use in Online and in-Store Purchases,’ said that In the previous month 30% of the crypto owners had made an online purchase with crypto.
According to the survey 21% of participants had used their digital assets to buy something in a physical store, demonstrating the broader adoption of crypto in the US.
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