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crypto.com would you trust this operation?

uplana

uplana

Corporate Services
Mentor Group Lifetime
Apr 15, 2009
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#1
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I have seen lot's of advertising about this company which I rather want to call a operation than a company!
https://crypto.com/eea
The latest video they put on the frontpage of their website has costs them a fortune so all the advertising they are running, that is not unusual for a large business.

However, the 8% you get back on your Visa spending is obvious not true!!
1636094697401.webp


How is it possible for them to give 8% on ALL spending's back to you, that would be a large loss-making business - the same goes for the 14,5% rewards you get on the crypto portfolio you hold with this business.

Any input on how they make this possible would be nice, for me it's like MLM if the card house collapse everyone is a loser beside the guy that invented this business.

Input please o_O
 
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#3
side note expensive for what it is when buying, selling, and moving crypto but a robust platform for the most part. also they wiil need to cover matt damon advert fee so.... :D
 
#4
I'm sure it's something like this: they take a large fee every time you convert between fiat and crypto, then give back a certain percentage on a limited amount of transaction types when you use their card. So they make it look like you are earning money, but you are in fact getting robbed
 
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#5
They are solid so far. Not the cheapest, but they have a pretty broad range of more or less exotic altcoins (dubbed s-coins) which allow for quick and seamless "trade" in a convenient way on the phone.
 
#6
Has anyone had experience with Crypto.com regarding Sepa deposit.
I saw that I have a personal LT Iban in the Crypto.com application.

I have a question, if someone has the answer and experience, is it possible to transfer money from the Wise account to that Crypto.com LT Iban?

Thank you in advance
 
#7
If I remember right, the money has to be sent from an account in your name.
If wise does not have a problem with crypto.com and the money is sent from your personal IBAN, it should work.
Just try it with a small amount of money.

For me a SEPA deposit was working, but I haven't tried from Wise. I've sent from a different EMI.
 
#8
Marie Manila said:
If I remember right, the money has to be sent from an account in your name.
If wise does not have a problem with crypto.com and the money is sent from your personal IBAN, it should work.
Just try it with a small amount of money.

For me a SEPA deposit was working, but I haven't tried from Wise. I've sent from a different EMI.
Click to expand...
Thanks for the reply,

As far as I know, Wise does not supports transfers to Crypto platforms and can block the account.

My question is whether Wise will recognize the payment on that LT Iban as a transfer to the Crypto platform.

Thanks
 
#9
They're widely known, pretty trustworthy but also aggressively expanding their business.
To get a cashback debit card you'll need to stack an amount of their own token for 6 months, which, as you mentioned, is a bit shady but so far it seems going fine.
They've recently focused a lot on developing their own NFT platform, which I'm not a fan of. We'll see how it goes.

I personally wouldn't store too much crypto on any centralised exchanges, no matter how well-known they are. Crypto is supposed to be trustless, so don't rely on anyone / any party too much.
 
#10
Been using them for 2 years, they're pretty good. Exchange fees on the main app are a bit high, but they also have an exchange with lower fees. Withdrawals are fast and support replies pretty fast too.
 
#11
Rudis said:
Thanks for the reply,

As far as I know, Wise does not supports transfers to Crypto platforms and can block the account.

My question is whether Wise will recognize the payment on that LT Iban as a transfer to the Crypto platform.

Thanks
Click to expand...
I red somehwere Wise is fine with crypto, if the exchange is regulated in EU or UK.
If you want to be on the safe side, you can open an account at another EMI and tunnel the money through this EMI.

You could have a look at Bankera or iCard (but be careful with iCard, people say they are a Russian laundromat).
 
#12
I've been doing good money with their cashback. They paid it with their own crypto, CRO, and during the last months it has increased from 0.1X to 0.4 so my cashback grew 3X, I have been cashing out during the last week since I believe that their crypto will crash soon.

Jerry1911 said:
I'm sure it's something like this: they take a large fee every time you convert between fiat and crypto, then give back a certain percentage on a limited amount of transaction types when you use their card. So they make it look like you are earning money, but you are in fact getting robbed
Click to expand...

You can deposit to the card using fiat so no crypto transaction or fees are involved. All the transactions have cashback except for cash withdrawals and quasi-cash transactions.

They charge a 0.4% trading fee in their exchange, it's expensive compared to other exchanges but I wouldn't say that you're getting robbed.
 
#13
It isn't BTC or ETH, it's a shitcoin that crashes regularly, some months ago it went from 0.24 to 0.09 in some weeks.

Anyway, even if it still going up, I'm pretty happy getting 3X / 4X on the earned cashback (cashback is 2% so I'm getting 6% - 8% of my spending with the card) and I still earning more cashback.
 
#14
I use them for around 2 years, 3% back to all expenses plus free Netflix and Spotify membership. To get 8% you need to stake 400K (obsidian card ). Anyway still funny when I hear people talking about crypto being a scam . Fortune Favours The Brave!
 
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