Crypto.com announces the reduction of rewards for its cards and the removal of staking rewards.

In a blog post published on Sunday, Crypto.com announced plans to phase out staking rewards and reduce the refund rate on its Visa card. These changes will come into effect on June 1, 2022.

A modification of the rewards policy at all levels.

The cryptocurrency exchange and service provider, Crypto.com, has announced that it would reduce wagering and cashback rewards on its Visa-backed prepaid cards, changes taking effect June 1.

Reduced rewards for its VISA cards

Crypto.com said in a blog post on Sunday that it would reduce rewards for using its Visa-enabled cards based on the tier offered.

Under the old program, cardholders Crypto.com could earn cashback rewards CRO from 1% to 8%depending on their card level. With the new policies:

  • lower grades such as midnight Blue and Ruby Steel will get 0%,
  • Royal Indigo and Jade Green will get 0.5%,
  • here White and Frosted Pink Gold will get 1%, and
  • Obsidian of the highest quality will get just over 2%.

New Card Reward Cap CRO

Additionally, monthly caps will be introduced, limiting the number of rewards to be earned. Caps will reset at midnight UTC each month.

Cardholders Ruby Steel are rewarded up to $25 (paid in CRO)which is equivalent to spending $5,000 with a return on investment of 0.5%. Rewards are capped at $50 for Royal cardholders Indigo / Jade Green, which equates to an expense of $3,333 and a return on investment of 1.5%.

Removed in-game rewards from menu

Although not a significant consideration, rewards CRO won on your card bet will also be removed. Untilnow cardholders have received bonus-like rewards that must be locked in order to access and maintain their card tiers. In the future, this balance will not will receive no reward other than the existing 6 month bet. This creates a huge opportunity cost for the large sums of money needed to buy higher levels.

prepaid cards from Crypto.com are a hit in the crypto world, allowing users to load supported cryptocurrencies or stablecoins and spend fiat currencies at Visa merchants. Meanwhile, other credit card benefits, such as cash back on subscription services and free airport lounge access, will continue. In addition, the interest rate remains unchanged for the product earn of Crypto.comwhich allows users to earn up to 14% on crypto assets.

The price of parts Crypto.com CRO is down 28.41% in the last 7 days. The price lost 9.54% in the last 24 hours. Currently, the CRO price is trading around 0.407522.

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Crypto.com announces the reduction of rewards for its cards and the removal of staking rewards.


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