Crypto.com Obsidian Review

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Verdict: The Obsidian card has some of the highest cashback and most generous perks on the market in 2021, but in this bull run the CRO token price has got so high that at today's rate cost the equivalent of $800,000 in CRO to apply for this card. The cost of applying for this card and the risk implied with being locked into staking (essentially holding) this token for 6 months without the ability to sell, in our opinion outweighs the benefits and the time it would take to break even using this card unless you are very bullish on CRO for the foreseeable future. The card itself, and perks are awesome, but unless you bought CRO early, we think it's probably better to wait until after this bull run.

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9/10 (Expert Score)

🥇 Product is rated as #2 in category Crypto Cards

The Crypto.com Obsidian is the highest tier card offered by crypto.com. It boasts some of the best features and perks on the market with a huge 8% cashback paid in CRO tokens, plus full rebates on Spotify ($12.99pm/£€ equivalent), Netflix ($13.99pm/£€ equivalent), Prime ($12.99pm/£€ equivalent), Expedia ($50/£€ equivalent) and Airbnb ($100pm/£€ equivalent).

This translates to a maximum of (12.99 * 12) + (12.99 * 12) + (13.99 * 12) + (50 * 12) = $2279.64 /£€ equivalent per year in rebates.

The catch is, to get these perks, you will need to stake a huge 5,000,000 CRO tokens (approx $800,000 at today's rates!) for a minimum of 6 months.

Whilst perks are tempting, and the cashback is very high, as you can see these benefits are potentially far outweighed by the risk/reward of staking. Whilst this is an attractive proposition if the price of CRO keeps going up, or even perhaps if you bought a lot of CRO in the past when the price was lower, the entire value proposition relies on the price increasing which I don't think is sustainable. If the price of CRO goes down, you could end up losing a LOT of money. Since the CRO stake would be locked up for 6 months, you have no control over when you sell. It's true that locking up CRO like this is a big part of why the token has continued to rally, but at the current prices, this really only benefits those who got in early and in our opinion is that it makes for too risky an investment during this bull run.

Features

Usability

Payment options

6.5

Fees and charges

8.5

Perks & rewards

Company & Reputation

Support

PROS:

Rebates for: Spotify, Netflix, Expedia, Airbnb, and Airport Lounge Access, Private Jet Partnership.
8% cashback in CRO.
Interbank exchange rates.
Easy fiat onboarding.

CONS:

Requires a huge investment to stake the card at today's rates which must be locked up for 6 months.
Cashback is only paid in CRO.
Prepaid card which means you sell your crypto for fiat, rather than instant settlement that converts at the point of sale.
The only fiat currency supported is the country the card is registered in.

Specification: Crypto.com Obsidian Review

Company & Availability

Insurance Coverage	/
Eligible regions	Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Marshall Islands, Netherlands, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, UK, USA
KYC	Yes
Credit Check	No

Savings Information

Supported Fiat Currencies	Fiat of the country the card is registered in
Supported Cryptocurrencies
Gas fees	Yes

Availability

ATM Access	Worldwide
Pay In Local Currencies	Yes

Support

24 hour support	Email support, Non-immediate chat support
Live Support	No

Staking

Staking required	Yes and No
Staking amount	500,000 CRO
Minimum stake Term	180 days
Token Ticker	CRO

Rewards

Cashback on spending	CRO Staking: 8% cashback in CRO, No Staking: 2% cashback in CRO
Cashback Restrictions	No
Max Cashback	No limit
On Chain Rewards	None
Referral Rewards	$25 back in CRO

Perks

Perks	Airbnb, Airport Lounge Access, Netflix, Private Jet Partnership, Spotify

Spending Limits

Daily ATM Limit	Unlimited
Daily Purchase Limit	Unlimited
Monthly ATM Limit	Unlimited
Monthly Purchase Limit	Unlimited

Fees

Signup fee	No fee
Monthly fee	No
Delivery Fee	No
Online/Offline Purchase Fees	Unlimited interbank exchange rates
Topping up fee	Unlimited interbank exchange rates
ATM Fees	No monthly fee up to $1,000 / £900, 2% thereafter
International ATM fee	/
POS Foreign Transaction fee	/
Card Replacement Fee	No fee
ACH Declined	No fee
Charge back processing	€0.06
Dormancy	No fee
Exchange Rate Provider	Interbank exhange rates

Card Features

Instant settlement	No
Prepaid	Yes
Topping up limit	No limit
App Payments	Apple Pay, Google Pay, Samsung Pay
Dual-Interface NFC/EMV (Card with chip)	Yes
Virtual Cards	No
Physical Cards	Yes