The main goal of the Crypto.com coin project is to integrate blockchain into all walks of life and make cryptocurrency the same use of payment as fiat money. The platform includes a wide range of services for working with cryptocurrency – a payment system, a cryptocurrency wallet, a VISA bank card, an application, an exchange for trading, decentralized financial services, crypto loans, and deposits.
One of the most well-known products is the Crypto.com debit plastic card, which allows you to spend cryptocurrency anywhere without high fees and long processing times.
It is accepted wherever VISA cards are accepted: in more than 50 million retail outlets around the world. The use of the card provides additional benefits to its holders. By paying for purchases with a CRO token, users receive up to 5% cashback from card transactions, as well as earning on the interest rate on funds frozen for six months.
Savings also plays a big role in the Crypto.com ecosystem. Seeing as the platform currently offers a “credit” or borrowing service, it only seems logical that they would incentivize their users to store more assets in the platform by offering strong savings rates on a number of digital assets and savings coins.
With Crypto Earn, the more MCO you stake and the longer you stake for, the higher your savings APR becomes. As it is currently written, users will earn the highest savings on when staking CRO, followed by stablecoins and then inherently volatile assets. The savings periods are currently written in three and one month intervals, with an ability to earn a flexible savings rate for those who wish to be able to withdraw at any time.
Interestingly enough, the different levels of credit cards are directly chosen by the amount of MCO a user stakes.
It goes without saying that the more MCO a user stakes, the better credit card they receive. But you don’t need to stake anything to receive a Crypto.com debit card they will issue you a beginner card.
As it relates to traditional goods and services, Crypto.com debit cards allow users to earn rebates on popular services such as Spotify, Netflix, Expedia and AirBnB, along with cash-back on virtually all purchases.