Crypto.com used to be the king of cashback cards. They offered the best conditions out of all the competitors in the space but everything that is too good to be true must come to an end. These initial offers were meant to attract a lot of new users as fast as possible and were clearly not affordable in the long run.

Point and case, the rewards were severely slashed a few months ago. Although it isn't as good as it used to be there might still be some value in owning a CRO card depending on your personal consumption.

Cashback

The cheapest card requires a $400 dollar stake and offers only 1% cash back.

The Royal Indigo & Jade Green used to offer 3% cashback. Still, now they only offer 2% just like the Binance Card. The difference is that it requires a $4000 stake while Binance's card requires only a stake of one BNB ($264).

Binance is the apparent winner when it comes to cashback. Not only does it require a way lower staking it also pays in BNB instead of CRO which in my opinion is a better alternative. BNB has a higher market cap, more utility, more users, better tokenomics, and sustainability.

Card Benefits

The card benefits are the main advantage of owning a crypto.com card. With the Ruby card, you can get a 100% rebate on Spotify for up to $13.99.

Assuming you're a Spotify client the Ruby card can have a pretty good APY of up to 41,97% if you get the $13.99 rebate every month. The best part is that you will get your rewards based on the dollar amount meaning the lower the price of CRO the more tokens you earn.

The second-tier card also offers a 100% rebate on Netflix up to $13.99 as well. Assuming you maximize both your Spotify and Netflix rebate the APY is up to 8,39% which is 5 times lower than the ruby card APY. On the bright side, it does offer 2% cashback that can help close the gap.

Still Worth it for me

I've been a Crypto.com client for a long time and managed to extract a lot of value from the card while the rewards were higher and the price of CRO was lower. I received Spotify refunds worth $12 of CRO that I was able to sell a little over a year later for almost $200. Pretty insane receiving $188 per month to listen to music.

I believe the CRO token will endure this bear market and come out the other end even stronger so I'm keeping my Ruby card to pay for Spotify and receive the 100% rebate. I will accumulate the CRO from those rebates to sell once the price recovers. For everything else, I will use the Binance card I wrote about in my previous post.

Being a veteran client allowed me to get all the benefits staking only 1000 CRO ($130) so the opportunity cost is even lower for me. Generating almost 100% just from using it for Spotify.

The card benefits can disappear at any moment just like the cashback rates were cut in half for the ruby card. Take that into consideration when deciding whether or not to "buy" the Crypto.com card.

I wrote the post on Friday just a day before they announced that the 100% rebate will be canceled on January 2023. I will use the card until then but once the rebate benefits are over the card will become useless to me. Very sad to see the rewards being slashed once again. This might be an indication that the company is in distress...

Use my referral link https://crypto.com/app/jvqjp78smf to sign up for Crypto.com and we both get $25 USD 😁

Posted Using LeoFinance ^Beta