How can you get a credit card, load it with crypto, earn interest on that money, get benefits, get loans and pay at the grocery store for a milk carton? This post will answer all questions.
Who are Crypto.com
Crypto.com is operated by a Hong Kong veteran company that has been rebranded as crypto.com. Hong Kong-headquartered Crypto.com, which launched in 2016, has more than 250 staffers and over 2 million users on its platform.
In May 2020, the company announced its transformation into global operation and today you can use the company’s services in 31 countries worldwide. The board of the company is made of serious people, most of them from big fintech companies.
The crypto Debit card
The company does offer additional features that you will read later in the post, but the main thing is the credit cards, which were Launched in collaboration with Visa. The cards are made of metal and differ by their colors, according to their different levels, with the black card being the most prestigious.
On the homepage you can read a detailed comparison table and decide which card is right for you. The higher the card tier you select, the higher your cashback will be. It seems that the middle level tickets will be the most popular.
You can compare tickets with or without MCO Staking. MCO is one of two currencies that the company has. “Staking” means the holding of MCO in your Crypto.com wallet for a period of 6 months.
some versions of the Visa crypto debit card also come with bonus features like free airport-lounge access; a 100 percent rebate on Spotify, Netflix and Amazon Prime;
The Company’s Security Philosophy page page details their strategy for keeping your money. The company has a strategic partnership with Ledger wallets company, an important fact. The company holds most crypto in cold wallets, fiat money in escrow accounts and small sums in hot wallets.
How to get started
The site has an active stock exchange, with a nice interface and chrts. But this is the least interesting feature in this review.
The app is the main tool for managing your money. first complete your registration as explained below. The design is simply intuitive and easy to use. The app contains several features: wallet, fiat wallet, card, loan interface, deposit interface, gifts, price tracking and cars payments.
To order a card simply click on “Card”. Once you have selected the right card for you, follow the instructions and send the requested documents.
how to use the card
In order to use the card as a debit card, you need to convert money from digital currency to fiat currency in order for the card to be respected by businesses.
After the conversion you will see that the balance has been updated and with this balance you can shop. The balance appears at the top of the screen.
The company requires a full identification process that includes personal information, ID proof and a selfie. While it may be noted that the application review process takes a few days, it takes much faster.
The crypto Wallet
The interface will be familiar to you and similar to most digital wallets. You can withdraw money of course and transfer like with any crypto wallet. With Crypto.com app, you can buy more than fifty digital coins, manage and use through the card.
How to Get a Loan for crypto
If you have a crypto deposit you can get a loan just like a bank. You can get 50% worth of loan on your crypto assets. For example, if you have $ 10,000 worth of Bitcoin, you can get a $ 5000 loan.
How the deposit works
You can choose the period and currency you deposit/ Each period and each currency having different interest rates. The maximum interest rate reaches up to 18% on the MCO coin.
How to send crypto with the App
The payment interface is simple and familiar to you from any crypto wallet. Enter or scan the address to which it is sent.
How to withdraw money from an ATM
You can withdraw relatively large amounts of money from ATMs. Up to $ 1000 a month on the black card.
Note that cardholders cannot load cryptocurrency onto their MCO Visa Card. All cryptocurrency will be converted to US Dollars and the US Dollars can be loaded onto the MCO Visa Card for use in purchase and ATM withdrawals.
The app also supports business owners, you can use the app to clear payments from your customers.
How To Earn Interest on your crypto
Once you have chosen the deposit currency you can choose from 3 number of deposit plans:
a flexible one that can be withdrawn at any time.
a one month deposit plan.
a three month deposit plan.
Of course, the longer the deposit, the higher the interest rate you will get.
Crypto.com has a referral program. Both the referrer and the user earn a commission. So it’s definitely worthwhile. Here is the registration link. When you sign up through the link we both earn, and you can continue to refer friends and family.
Crypto.com registration guide 2020
Once the App download is complete, there are a number of promotional screens. You can read or tap Skip.
OK lets start . Fill in your email, check the box below and tap Continue.
Check your email directly from your cell phone. Do it in one sesion or the link will no longer be valid.
If all went well you can now make an initial login to the app.
If you receive the following message you will have to resend the confirmation email.
The email has been approved and you can continue. tap anywhere to continue.
Enter your phone number. you can choose from a list of countries.
Now enter the code sent to the phone.
Now you need to complete three simple KYC steps: full name, ID, selfie. You need to give the app permission to use the camera. Hold the camera steady and take clear photos.
- Enter your full name
- Capture your ID or a drivers license from both sides.
- Take your selfie photo. We had a bit of a hard time with the selfie.
If everything went well you are here. While it is written that the approval process takes two to three days, from our experience is much shorter.
now you only have to set your passcode, which is used to unlock and confirm transactions.
Thank you for reading.
Crypto for all!
Crypto for all!