Crypto Obsidian Visa

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 #3 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
9
Usability
9
Payment options
6.5
Fees and charges
8.5
Perks & rewards
10
Company & Reputation
8
Support
5
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 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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, 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
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
Security
Fraud Monitoring Yes
Freeze / Unfreeze Yes
Instant Notifications Yes
Pin Viewing Yes
2FA Yes
Asset protection & Insurance
Audited /
Cold Storage Yes
Company Backing /
FDIC insurance No
Insured by /

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