2gether challenger

2gether Challenger Review

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Verdict: The Explorer is the third tier instant settlement visa card offered by the Spanish company 2gether, and is available in Europe. The Explorer requires you to stake 20.000 2GT (1.000€). In return, you get 3% cashback paid in 2GT (2gethers native token), and 100% trading commission refund on their already low fees of 0.26% which is also paid in 2GT. You also get higher referral rewards for inviting new customers.
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7/10 (Expert Score)
Product is rated as #31 in category Crypto Cards

2gether was established in 2017 in Spain and prides itself as being part of the "economic revolution". Their branding is focussed around community founding and investing in an early stage startup, which their why they actively shill their own 2GT token. However, from what I have read, this is NOT a governance token, so whilst you may have a chance to get in early on a new debit card startup, I have found nothing to suggest that token holders will get a say in the future decisions of 2gether as a company.

2gether has a number of things that stand out. Firstly, we're impressed with the low fees and 100% of the 0.26% Kraken exchange fee will be refunded in 2GT tokens. Secondly, the 2gether Founder is an instant settlement Visa card (meaning that crypto is exchanged at the point of sale rather than a prepaid visa) and can be used online and offline and globally at ATM's. Global ATM fees are also better than average, costing just 1.5% plus the standard Visa exchange rate. It's never fun using ATMs aboard but these rates are better than most we've reviewed.

This 2gether Explorer is the second highest with cashback at 3%, and comparatively to other cards on the market, the cost of staking at the time of writing is very low. Cashback will be paid only in the 2GT token, which if you're a believer in the company, is a great way to invest early ion the company.

Features
7.5
Usability
9
Payment options
5
Fees and charges
8.5
Perks & rewards
7.5
Company & Reputation
2.5
Support
2
PROS:
  • 3% cashback on purchases paid in 2GT.
  • Instant settlement (rather than prepaid) card allowing you to pay with crypto anywhere.
  • Low fees with 100% of the 0.26% discount on trading fees (refunded in 2GT).
  • Higher tier referral program allowing you to earn 2GT tokens.
  • Easy fiat onboarding so you can buy crypto at market rates.
CONS:
  • Still recovering from a hack in 2020 and have still not managed to refund all customer funds.
  • No other perks or rebates.
  • Max monthly cashback is €500 in 2GT.
  • Max on-chain transaction fee refund is €500 in 2GT.
  • Cashback only available in 2GT
  • Refunds processed in 2GT
  • No live support.

Specification: 2gether Challenger Review

Company & Availability
Insurance Coverage /
Eligible regions , , , , , , , , , , , , , , , , , ,
KYC
Credit Check No
Savings Information
Supported Fiat Currencies
Supported Cryptocurrencies
Gas fees Yes
Availability
ATM Access Worldwide
Pay In Local Currencies Yes
Support
24 hour support Email support
Live Support No
Staking
Staking required Yes
Staking amount 20,000 2GT
Minimum stake Term Indefinitely
Token Ticker 2GT
Rewards
Cashback on spending 3% cashback in 2GT
Cashback Restrictions No
Max Cashback Up to €500 cashback in 2GT
On Chain Rewards 100% on chain fees refunded, max refund of €500 in 2GT monthly
Referral Rewards Can refer up to 83 friends and earn up to 600 2GT per person
Spending Limits
Daily ATM Limit Unlimited
Daily Purchase Limit Unlimited
Monthly ATM Limit Unlimited
Monthly Purchase Limit Unlimited
Fees
Monthly fee No
Delivery Fee No
Online/Offline Purchase Fees 0.26% on transaction value
Topping up fee N/A
ATM Fees 0.26% when drawing fiat from non-Euro account, 6 ATM withdrawals refunded monthly
International ATM fee 1.15% non € European country/ outside of Europe 1.50% + Visa exchange rates
POS Foreign Transaction fee 0.26% on transaction value + Visa exchange rates
Card Replacement Fee No fee
ACH Declined No fee
Charge back processing N/A
Dormancy No fee
Exchange Rate Provider Visa
Card Features
Instant settlement Yes
Prepaid N/A
Topping up limit N/A
App Payments Apple Pay, Google Pay
Dual-Interface NFC/EMV (Card with chip) Yes
Virtual Cards No
Physical Cards Yes
Security
Fraud Monitoring Yes
Freeze / Unfreeze Yes
Instant Notifications Yes
Pin Viewing Yes
2FA Yes
Asset protection & Insurance
Audited /
Cold Storage /
Company Backing /
FDIC insurance No
Insured by /

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