In their efforts to improve their product offerings, Crypto.com is introducing a change for the Cardholder CRO Staking service starting on December 4, 2023, at 03:00 UTC. This change will replace the current CRO Lockup system.
The key benefit of this update is that it will allow cardholders to earn compound rewards through Cardholder CRO Staking while still enjoying the same benefits associated with their Crypto.com Visa Card.
Once cardholders accept the Cardholder CRO Staking Terms and Conditions (T&Cs), the following changes will come into effect on December 4:
- Instead of CRO Lockup rewards, cardholders will receive weekly Cardholder CRO Staking rewards.
- These Cardholder CRO Staking rewards will be added weekly to the Cardholder CRO Stake in the cardholder’s Crypto Wallet. This means that users’ earnings will grow over time.
- If a cardholder chooses to unstake their CRO, there will be a 36-day period during which the CRO cannot be used for Cardholder CRO Staking rewards. During and after this period, the cardholder will also lose certain benefits, such as purchase rebates and higher interest rates in the Earn program.
However, the cardholder will still enjoy the benefits of the Crypto.com Visa Card, including up to 2% cashback on spending and access to airport lounges (for eligible card tiers), even without staking their CRO.
Also Read: Visa Crypto Cards Drive $3B Payment Volume Since 2021
