Crypto.com offers 5 different card tiers. The Midnight Blue is the only free card. The other 4 cards require you to stake CRO (their native token) for 6 months to get the higher cash back rewards. After 6 months, you get your CRO back however, you have to keep it staked to continue earning the same cash back rate.
Obviously, the price of CRO can increase or decrease at any time. So if you'll be staking for the higher rewards, you should do your research and only do so if you believe in the CRO token long term.
How to Use The Card
- Sign up for Crypto.com
- Choose your card
- Deposit Canadian dollars into your account (e-Transfer is the easiest)
- Spend your card in-person or online
- Rewards will be deposited into your account within 36 hours
Opening An Account
To open an account, Crypto.com requires KYC (proving your identity). This is required by law so make sure to have your ID with you when signing up. In general, the process is quick and takes under 10 minutes. Most accounts will be automatically verified.
Who Is Eligible?
- Canadian residents
- *No credit check or minimum income is required
Sign Up Requirements
- Name, address, date of birth
- Phone number
- Government Issued Photo ID
- Selfie upload
- Proof of address
The new rewards that are effective on June 1 can be found here: Compare all Crypto.com cards
See our Crypto.com App review to see the cryptocurrency trading and other features.
Is Crypto.com Trustworthy?
Overall, Crypto.com is considered a safe company. They offer 2FA, have a $750 million cold storage insurance policy, and have many other security features. They're trusted by 10+ million users worldwide and have built a good reputation in the crypto industry.
Is The Crypto.com Visa Insured?
According to the Cardholder Agreement, the funds in your Crypto.com account are not CDIC insured. However, there is some protection if you report that there is unauthorized use of your card.
If you are bullish on the CRO token and have money to stake, the Crypto.com Royal Indigo & Jade Green Card and upper tiers offer the best cash back rates in Canada (2%-5%). However, if you're looking for the best Bitcoin rewards card in Canada or the best free crypto credit cards, look into the Shakepay Card or Netcoins Visa.
Reasons to get a Crypto.com Visa:
- Highest rewards in Canada if you stake for a Royal Indigo/Jade Green card or higher
- Fast payouts within ~36 hours
- Other potential benefits like free Spotify, Netflix, etc
Reasons to get something else:
- If you don't want to stake CRO for 6 months or don't believe in the CRO token long term
- If you'd rather earn Bitcoin rewards, get the Shakepay Card or Netcoins Visa
- If you want to build your credit score, find a regular rewards credit card