Changes Coming to Crypto.com Visa Cards [Rates Dropping]

Updated: July 17, 2024, 10:50am CDT

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Table of Contents

Rate Changes
Alternative Card Options
Final Thoughts

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The popular cryptocurrency exchange Crypto.com is making a big change to its cryptocurrency rewards cards. Unfortunately, the change is a negative one, as rates are going down across the board for cardholders.

Here is a detailed look at the changes, along with some alternative card suggestions for those looking to switch to another crypto rewards card.

Rate Changes

Here’s a look at the rate changes across all 5 versions of the Crypto.com Visa Cards. As a reminder, you must hold a certain U.S. dollar amount of CRO (Crypto.com’s native currency) to be eligible for certain card tiers, and earning staked rewards requires a 6-month lockup of your CRO.

For reference, “staking” involves “locking up” a portion of your crypto, which is then put to work to help verify transactions and shore up the blockchain. To incentivize staking, you’ll typically receive additional crypto rewards, making it a great way to earn passive income on your funds.

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Card	Old No Stake Rate	New No Stake Rate	Old Staked Rate	New Staked Rate
Midnight Blue (no minimum)	1%	0%	1%	0%
Ruby Steel (requires holding $400 in CRO)	1%	0%	2%	1%
Royal Indigo and Jade Green (requires holding $4,000 in CRO)	1.5%	0%	3%	2%
Frosted Rose Gold and Icy White (requires holding $40,000 in CRO)	1.75%	1%	5%	3%
Obsidian (requires holding $400,000 in CRO)	2%	2%	8%	5%

As you can see, rewards rates are being slashed across the board. The hardest hit are those with the Ruby Steel and Royal Indigo/Jade Green cards who were not staking their CRO, as now those users will be forced to either stake their CRO or earn 0% rewards moving forward. Further, those with the Midnight Blue version of the card will now not earn any rewards at all, even if their CRO holdings are staked.

Fortunately, there’s some time before these changes take place. Cardholders with an active 6-month stake by May 31, 2022, will continue to earn CRO Card rewards on spending at the current rate until their 180-day stake expires. After that, the new reduced rates will apply.

Alternative Card Options

If you’re looking for some other crypto rewards card options, here are a couple of solid options.

Gemini Credit Card

While the Crypto.com cards are prepaid cards, the Gemini card is a credit card that earns 3% back on dining, 2% back on groceries, and 1% back on all other purchases. You can receive your crypto-back rewards in any of the 40+ Gemini-supported crypto assets. The rewards earned from your spending are also received in real-time, allowing you to immediately benefit from any price appreciation. Plus, the card doesn’t charge an annual fee.

Coinbase Card

If you’d prefer to stick with a prepaid debit card, the Coinbase card allows you to spend U.S. dollars deposited into your Coinbase account and earn anywhere from 1% to 4% crypto-back rewards, depending on the asset you choose to earn rewards in.

Hot Tip: Make sure you take a look at our full guide on the best cards for earning crypto rewards!

Final Thoughts

Crypto.com is clearly trying to incentivize cardholders to stake their CRO holdings, but if these users weren’t doing so before, it’s hard to imagine that they will now that the platform has also cut staked rewards by 1% to 3% depending on the card tier.

For those that no longer find the Crypto.com cards worthwhile with the new changes, fortunately, there are more and more crypto-rewards cards coming online as time goes on.

The information regarding the Crypto.com Visa Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.