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Ever see your friend dabble in virtual coins with funny-sounding names (that’s you, Dogecoin) or making a payment in a currency that you’ve never seen before? Or maybe they’ve rigged up a high-powered computer at home for “mining”.
Well, what’s going on?
You see, cryptocurrency or crypto for short, refers to digital or virtual currency that is secured by cryptography — a bunch of codes — so that they’re extra secure and can’t easily be counterfeited. They’re encrypted by blockchain technology, a digital ledger stored as a bunch of blocks of data chained together, where each block of new data comes from a different source. Think of it as a ledger where everyone writes on it (not controlled by a single accountant) and where nothing can be erased.
It’s likely that your friends are also burning up your ears with names such as Bitcoin, Ethereum and Dogecoin… or even using their abbreviations BTC, ETH and DOGE. Yup, crypto has been a hot topic of late, as you can also tell from our recent articles on our blog.
And at the same time, your friends talk about the savvy ways to save money, such as using the best cards to reap the highest cashback and rebates, not to mention other lifestyle perks. That part you totally get — you’re a big fan of those types of cards too.
Best of both worlds?
Well, what if both cryptocurrency and cashback card perks combined their powers? This means you can possibly invest in the hottest coins out there PLUS enjoy cashback perks for doing so, in addition to your usual spending categories.
It’s actually quite easy to start trading crypto AND benefit from cashback card perks. All you need to do is register for an account with Crypto.com — where you can also apply for the metal Crypto.com Visa Card– the perfect match for tech savvy investors keen to trade in the growing cryptocurrency sphere while spending and earning crypto rewards, plus other perks.
In short, while you access an international crypto trading platform, you can also reap the benefits of its crypto card, a metal prepaid card powered by Visa that lets you spend cryptocurrency as well as earn cryptocurrency rewards.
Sounds cool, right! Read on for the perks of the Crypto.com Visa Card:
Up to 8% back on all spend
With your Crypto.com Visa Card, you can earn up to 8% back on all spend (yup, your everyday necessities too, as long as the shop accepts Visa), depending on your tier of card. This will be paid out in the cryptocurrency token CRO, which is deposited into your Crypto Wallet in the Crypto.com app. You’ll be able to see your earned CRO Rewards immediately, as they’re instantly reflected with each eligible transaction!
By the way, you won’t even need to use cryptocurrency to top up your Crypto.com Visa Card — just top up with any credit or debit card, like how you top up any mobile wallet. From there, you can use the CRO Rewards to trade coins on the Crypto.com app! To top up your Crypto.com Visa Card, go to the ‘Card’ tab, tap ‘Top Up’, and select your preferred method.
Reimbursements on subscriptions and services
What other Visa card out there reimburses you for your favourite subscription services such as Netflix, Spotify and Amazon Prime??? To date, the Crypto.com Visa Card is the only one we know of that does so! Just use the card to pay for your subscription(s).
Depending on which metal Crypto.com Visa Card you’re holding, you can be reimbursed for your monthly subscription to Netflix, Spotify and Amazon Prime (maximum 1 reimbursement per merchant per month, standard subscription only, for certain card tiers only). That’s a total of USD13.99 + USD12.99 + USD12.99 or almost $54 Singapore dollars.
We do enjoy this thoughtfulness with subscription services that we actually use!
Ease of use
As the Crypto.com Visa Card is a prepaid card, there’s no annual fee either. Hence, you don’t incur interest, and being a debit card, this helps with responsible spending too.
You’ll still have the power of Visa though, which enables you to spend with merchants who accept Visa in Singapore! You can also use it for contactless payments, even for bus and MRT trips.
And as we mentioned earlier, there are a few ways to top up the Crypto.com Visa card: cryptocurrency or other credit/debit cards.
No forex conversion fees
You probably have a multi-currency account and have used multi-currency cards before. These generally offer currency exchange perks such as no forex fees, good exchange rates and you’re able to convert and hold a currency in your wallet.
Likewise, with the Crypto.com Visa Card, you also gain these multi-currency benefits. You’re able to top-up in other foreign currencies like Euro, AUD, USD, GBP and HKD by converting your SGD — without additional fees — depending on your card tier and associated limits.
Wait, there’s still more?!?!
Other perks that the Crypto.com Visa Card offer include:
- Complimentary airport lounge access
- Crypto.com Private*
- Exclusive merchandise welcome pack*
- Private jet partnership*
*Only users who stake $50,000 or $500,000 for the Icy White, Rose Gold or Obsidian Card get access to Crypto.com Private, giving them access to tailor-made crypto services and benefits.
When you stake CRO on Crypto.com, you can reserve the premium metal Crypto.com Visa Card. Receive 10-12% p.a. in CRO Stake Rewards for Jade Green,Royal Indigo or higher tier. The rewards are paid on a weekly basis.
So… how do I get started?
To begin trading crypto, and enjoying rewards with your very own shiny metal Crypto.com Visa Card, start by opening an account with Crypto.com.
The next thing is to stake a specified amount of CRO (based on the conversion rate of CRO to SGD on the day you stake) — think of staking as putting in money into a fixed deposit, but in Crypto.com’s case, it’s for a very short period of just 6 months. Afterwards you can choose to unlock and get back your CRO.
|Tip: As you’re essentially entering the crypto market, you’ll be subject to market forces. After 6 months, you could earn a tidy profit, or if the price of CRO declines, you might see unrealised losses. You should be aware that the value of crypto may fluctuate greatly. You should buy crypto only if you are prepared to accept the risk of losing all of the money you put into crypto. To counter this, apply the strategy of HODL (holding on for dear life), so that you can continue to enjoy your CRO Staking Rewards and all the other associated card benefits!|
Let’s look at the different card tiers, along with their staking amounts and benefits:
Once you receive your chosen Crypto.com Visa Card, you can top it up via credit and debit card or cryptocurrency. The Crypto.com app helps you manage the whole ecosystem, from your card, payments, and your crypto portfolio.
Psst, did you know that this is the ONLY crypto card in Singapore right now? Other crypto platforms available here don’t offer cards (last we checked!).
As you explore the world of crypto trading, rest assured that the Crypto.com app allows you to buy and sell 150+ cryptocurrencies with Xfers or your credit/debit card; track 200+ cryptos by setting up Price Alerts and Price Movement Alerts; Send crypto to Crypto.com App users instantly with no fees… and more. All while earning other rewards on your metal Visa card and with Crypto.com Pay.
Services in Singapore are provided by Foris DAX Asia PTE LTD. Foris DAX Asia PTE LTD, (trading under the brand name “Crypto.com”) operates under an exemption under the Payment Services (Exemption for Specified Period) Regulations 2019. Please see our SG Terms and Conditions for more details about the terms and conditions applicable for services provided to Singapore persons.