Crypto.com Prepaid Card and Crypto Exchange Thread

FutureHeartsJunkie wrote: ↑ My Midnight Blue Crypto Card arrived this week and I was thrilled on how it looks!

This just in: has anyone got into an instance in which when they add a contact for the Interac E-transfer for Crypto, they are advised to put in the security question and answer?

I've tried adding that as a contact on my Tangerine account but as for Simplii - it recognized as an Autodeposit contact.

I added CDC as a contact for Tangerine e-mail transfers without issue. Just add the name and e-mail address.

Once you start an e-transfer to the CDC contact and punch in the amount you want to send, a message will pop-up that the contact has auto-deposit enabled. I don't get asked for security answers/questions.

Edit: But always remember to include your account/CDC identifier number in the message section.

Intricated wrote: ↑ Does CDC charge a spread/fee for topping up the Visa (CAD) card using EUR funds deposited via SEPA?

You can't fund the card directly with EUR but you can buy TCAD with EUR and fund the card with that. I just checked and you'll pay close to a 1% premium over EUR-CAD spot rate.

When I got the card half a year ago it was 0.5% for EUR-CAD, spreads have been creeping up continuously since. Wouldn't surprise me if at some point CDC is going to introduce a spread on CAD-TCAD and screw all of us with TCAD in Earn.

albithedragon wrote: ↑ I added CDC as a contact for Tangerine e-mail transfers without issue. Just add the name and e-mail address.

Once you start an e-transfer to the CDC contact and punch in the amount you want to send, a message will pop-up that the contact has auto-deposit enabled. I don't get asked for security answers/questions.

Edit: But always remember to include your account/CDC identifier number in the message section.

I've tried adding different names with the same e-mail address for that on my Tangerine account, but unfortunately it yielded the same result.

Not sure if it has to do with my account however....

FutureHeartsJunkie wrote: ↑ My Midnight Blue Crypto Card arrived this week and I was thrilled on how it looks!

This just in: has anyone got into an instance in which when they add a contact for the Interac E-transfer for Crypto, they are advised to put in the security question and answer?

I've tried adding that as a contact on my Tangerine account but as for Simplii - it recognized as an Autodeposit contact.

FutureHeartsJunkie wrote: ↑ I've tried adding different names with the same e-mail address for that on my Tangerine account, but unfortunately it yielded the same result.

Not sure if it has to do with my account however....

I remember having the same issue with Tangerine - it appears not to recognize the cdc email has autodeposit set up and makes you enter a security question and answer. You can just enter anything in there and continue - once you are ready to send it will confirm the recipient is set up for autodeposit. Just make sure to include the reference number from the CDC app in the message field and you should be fine.

rhw123 wrote: ↑ I remember having the same issue with Tangerine - it appears not to recognize the cdc email has autodeposit set up and makes you enter a security question and answer. You can just enter anything in there and continue - once you are ready to send it will confirm the recipient is set up for autodeposit. Just make sure to include the reference number from the CDC app in the message field and you should be fine.

Thanks for your reply. I really don't want to risk entering a random security question and answer (even providing the reference number in the message field) for the E-transfer se ding from Tangerine but I'm going to stick with the method using Simplii.

FutureHeartsJunkie wrote: ↑ Thanks for your reply. I really don't want to risk entering a random security question and answer (even providing the reference number in the message field) for the E-transfer se ding from Tangerine but I'm going to stick with the method using Simplii.

There's really no risk to setting up a recipient. If you know the answer and question, just set it up and see if actually sending the transfer triggers the notification that "Foris is registered for auto deposit" or something along those lines.

Delight wrote: ↑ There's really no risk to setting up a recipient. If you know the answer and question, just set it up and see if actually sending the transfer triggers the notification that "Foris is registered for auto deposit" or something along those lines.

This. And it will confirm autodeposit in the next step, before sending.

Anybody have any DPs on electronics retailers? I'm curious about merchants/services like Best Buy, Apple, Microsoft, Dell, and Playstation. I know there is an exclusion for merchants that "sell computer software programs for business and personal use and may also sell or lease computer hardware or other related products", but am wondering if anybody has practical experience getting cash back with any of those retailers.

One thing i wanted to note about this card is you really need to keep track of things. Its rare but sometimes cashback wont be credited.

My story: did a hotel booking using agoda.com no cashback was given after asking support about the transaction they said its not eligible for cashback as uses one of the not allowed merchant codes...
Left me thinking this makes no sense, so i asked them to supply the merchant code used, After which they then apologize and credited the amount a few days later...

so in other words the rep couldnt even be bothered to look at the transaction and just said the easiest thing to get on to the next ticket...

bryceton wrote: ↑ One thing i wanted to note about this card is you really need to keep track of things. Its rare but sometimes cashback wont be credited.

My story: did a hotel booking using agoda.com no cashback was given after asking support about the transaction they said its not eligible for cashback as uses one of the not allowed merchant codes...
Left me thinking this makes no sense, so i asked them to supply the merchant code used, After which they then apologize and credited the amount a few days later...

so in other words the rep couldnt even be bothered to look at the transaction and just said the easiest thing to get on to the next ticket...

Updated OP with your DP...thank you!

titaniumtux wrote: ↑ Certain exchanges, maybe. CDC, very unlikely. CDC's compliant obsessed (as you can see they're fully operational in US, Europe and now Canada), so they'd have no issues registering with Canadian securities if they haven't done so already.



But how much? If we don't withdraw often and can hold enough volume in there, then withdrawal fees shouldn't be a deal-breaker

Just curious. How much saving percentage wise (of ur total fiat saving roughly) do you put into these crypto earning accounts? I know everybody’s risk tolerance is different. Would be curious to know some DPs.

I has put roughly 10% of my total cash so far (stablecoins) into crypto.com and Celsius. Thinking about if I should convert/move over more. Doing my DDs, at least from what I saw, both of these companies are solid (of course always counterparty risk if they get hacked/stolen/bankrupted). The fact they are not cdic insuranced for us justifying that extra return I guess.

biglaity wrote: ↑ Just curious. How much saving percentage wise (of ur total fiat saving roughly) do you put into these crypto earning accounts? I know everybody’s risk tolerance is different. Would be curious to know some DPs.

I has put roughly 10% of my total cash so far (stablecoins) into crypto.com and Celsius. Thinking about if I should convert/move over more. Doing my DDs, at least from what I saw, both of these companies are solid (of course always counterparty risk if they get hacked/stolen/bankrupted). The fact they are not cdic insuranced for us justifying that extra return I guess.

Those companies/employees themselves can scam you( looking at you quadriga). So better to put that much money in Defi with insurance cover. That way you own the keys.

JaiKor wrote: ↑ Those companies/employees themselves can scam you( looking at you quadriga). So better to put that much money in Defi with insurance cover. That way you own the keys.

Yea I understand that point that have been looking into that as well. Just to Celsius CEO's point though, most of us have regular jobs and usually don't trade, just holding - in the case of stablecoins really just want to get some higher yields than fiat banks. CeFi makes sense in that regard since the yield is relatively high and it's easy. I was looking at some defi platforms yesterday like AAVE/Curve/Yearn, the yields on there currently are not as high and also way more complicated to set up...

I am pretty new to Crypto.com and Celsius but I would think Crypto being from 2016 (now with this visa card now) and Celsius now has under 10 billion assets are a bit different from Quadriga days. I do acknowledge with any Cefi, if there is no insurance or guarantee, there is always an element of risk...and you are compensated for it with the high yield.

Pretty good idea to spread them all out between defi/cefi if I can figure out the actual/true defi apps...

Re: Uphold

systmadmin wrote: ↑ Also I'm fairly sure you can fund with a CAD debit card, I just use USD. If you want to trade in USD, I'd assume the Stack debit card would work the best to fund due to 0% FTF.

I was unable to link Stack MC, I think Uphold doesn't accept prepaids.

European fintech Visa and MC debit cards seem to be fair game and you can link them as USD card too if they provide a better FX rate. Uphold gave me ~0.3% above spot for EUR-USD.

rhw123 wrote: ↑ I was unable to link Stack MC, I think Uphold doesn't accept prepaids.

European fintech Visa and MC debit cards seem to be fair game and you can link them as USD card too if they provide a better FX rate. Uphold gave me ~0.3% above spot for EUR-USD.

Yeah, I tried to link it and pick USD as funding source (no CAD option) and it failed. I think it's a 3DSecure limitation, if the card doesn't have it most crypto-related stuff won't accept it.

Good DP on the EUR cards, glad those worked for you!

systmadmin wrote: ↑ The SWIFT option is only for CAD - when you add a CAD bank account in Uphold. For USD you have to use the Plaid service, which only lists US banks. So I think you'd need a TD USA or something. I use RBC USA and that's not listed and no way to punch in account details manually.

Realized now my last post was a bit confusing. The 0.2% conversion rate would be you converting USD funds on Uphold to CAD funds on Uphold, and then you can transfer CAD to Canada.

Okay reading several posts on USD accounts (on ramp/off ramp and if no switching between USD and CAD), kind of summarize as follows:

1. For people who have USD account in Canada, best way to get them onto crypto exchanges and off the exchanges is Kraken, SWIFT transfer costs $4 USD minimum each way (Could you please let us know what determines minimum and maximum fee here?). Once on Kraken, do whatever transfer to buy USD stablecoins for yields. Reverse the process to off ramp to fiat back in USD account in Canada
2. For people who have USD account in USA, best way is from your US banks to Uphold. Once on Uphold, do whatever transfer to buy USD stablecoins for yields. Reverse the process to off ramp to fiat back in USD account in USA.

biglaity wrote: ↑ 1. For people who have USD account in Canada, best way to get them onto crypto exchanges and off the exchanges is Kraken, SWIFT transfer costs $4 USD minimum each way (Could you please let us know what determines minimum and maximum fee here?). Once on Kraken, do whatever transfer to buy USD stablecoins for yields. Reverse the process to off ramp to fiat back in USD account in Canada

$4 is for the Signature Bank SWIFT transfers, details on that funding provider here. It looks like they only support USD transfers, whereas the $35 fee Etana Custody wire/swift transfers support CAD and other currencies. So as long as you're moving money to a USD account, you can use the cheaper Signature Bank $4 withdrawal.

For funding, I don't know what a SWIFT transfer costs at a bank here - maybe someone else can weigh in on that. As for Kraken, there are no fees to receive funds via those transfers.

Timeline so far on my Ruby card:

Signed up, verified, funded & staked - June 6
Card showed as Issued - June 7
Card shipped notification - June 11

Will see when that actually shows up, hopefully sometime next week

biglaity wrote: ↑ Okay reading several posts on USD accounts (on ramp/off ramp and if no switching between USD and CAD), kind of summarize as follows:

1. For people who have USD account in Canada, best way to get them onto crypto exchanges and off the exchanges is Kraken, SWIFT transfer costs $4 USD minimum each way (Could you please let us know what determines minimum and maximum fee here?). Once on Kraken, do whatever transfer to buy USD stablecoins for yields. Reverse the process to off ramp to fiat back in USD account in Canada
2. For people who have USD account in USA, best way is from your US banks to Uphold. Once on Uphold, do whatever transfer to buy USD stablecoins for yields. Reverse the process to off ramp to fiat back in USD account in USA.

It's also possible to wire USD (and EUR) from anywhere to YouHodler. Caps are low before triggering additional verification. Looks like they exchange EUR/EURS at 1:1 (even though 1 EURS is worth €1.02) and earns 12%. Aside Kraken, can't Canadians wire USD to Gemini? I know Kraken is competitive.

systmadmin wrote: ↑ $4 is for the Signature Bank SWIFT transfers, details on that funding provider here. It looks like they only support USD transfers, whereas the $35 fee Etana Custody wire/swift transfers support CAD and other currencies. So as long as you're moving money to a USD account, you can use the cheaper Signature Bank $4 withdrawal.

For funding, I don't know what a SWIFT transfer costs at a bank here - maybe someone else can weigh in on that. As for Kraken, there are no fees to receive funds via those transfers.

Yes, my bad, I got excited too early. $4 is only for Kraken to wire USD out but you still need to pay a fee to initiate Wire Transfer from your Canadian bank on the way in to deposit USD directly (no fee on Kraken to receive it but heavy fee to transmit USD out from banks). The fee isn't cheap. It costs about $50 at TD per pop, which is insanely expensive. I haven't found any institutions in Canada that have USD account and can do USD wire transfer cheaply...

Basically, if we want to deal with USD domestically in Canada (again, not doing any currency exchanges in either end, just US dollar bank account in Canada to USD crypto account in Canada and buy stable coins using USDs in Canada), we are out of luck and need to pay high fees for it. When we off ramp, Kraken only charges like $4 withdrawing fee, but ur bank like TD also charges $17.5 to receive it.

For my point #1 (dealing with all USD in Canada if one has existing USD in Canada and doesn't want to exchange them anywhere): round trip will cost you $71.5 USD which is outrageous to me...

I also found another option that might work with this situation. IBKR (stock trading app) offers USD Wire Withdraw once per month free (but their account itself isn't free), different category though, not a real bank and you wouldn't sign up for it just for the wire transfer.

If anybody knows a cheaper option to deal with USD in Canada, please let us know.