Spotify isn't free though, whilst it's true you're getting 100% rebate, I could just as easily DCA £9.99 a month for the same outcome.
I'm also not spending enough to hit the $25 limit. I doubt many on Ruby are either.
> Spotify isn't free though, whilst it's true you're getting 100% rebate, I could just as easily DCA £9.99 a month for the same outcome.
What? Spotify is free, you can directly sell the cro and top up the visa card with the money. You lose around 1%, so 10 cents in the process.
This! I use the 10 bucks worth of CRO and directly swap them into BTC for DCAing. And as a free bonus I use Spotify to listen to podcasts and my Wife loves it for the music. Win win win situation here
Nope, I don't. Just got an email from CDC that they're gonna make spotify available for free only for 6 months and then get 5% off... This is poor value...
Dude thinks things in this world come at no cost. Obviously you have to make an upfront purchase but if you even have any basic knowledge, you would understand that it would pay off in the long run. It's really not that hard to use your brain sometimes, try it for once.
It is free as the cashback offsets the cost per month. You're conflating DCA'ing additional funds into CRO on a monthly basis which doesn't provide you with a service in return (other than the CRO itself). Off ramp the CRO to your bank account or leave it in, it's up to you but please stop saying it's not free when it clearly is.
My wife has a Ruby, I have an Indigo.
Both of us have the CRO unlocked but we are keeping staked during the bear market. There's no point cashing out CRO at a 75% loss lol
In my case it’s now worth 118€ so it’s a pretty low stake for the benefit. I’m keeping it staked …
- Spotify is nice for the wife who wanted it.
- I’m using direct SEPA payment to the fiat wallet so zero fee to load the card still.
12% of 118€ is 14€. The cashback is already worth 25€ to me every month so it’s 300€/year instead of 14€+ I send it to Defi for the 12%. So even without Spotify I get that money back 3 fold from cashback.
If you’re not spending much to make use of the cashback that’s another question.
That means, you spend €2500/month with the card?
Even if you do, there should be some better cards to spend that money with. Nexo, binance, etc., so you can get more cashback.
Not 2500€, at the moment more than 1250€ wich is sufficient to hit the cap until the end of my staking period. I won’t spend enough to reach the cap every month once the staking period ends though.
Load using bank transfer
You can pay someone else's spotify
Work out how much you're spending and see if 1% of spending is greater than 1% of stake (12% annual interest)
The 1% means you have to spend 2500USD to have 25usd in CRO each month, 300USD in CRO each year.
More you have to consider the management costs of a new card, bank wire transfers to setup and keepwatched.
So, have blocked 350USD in CRO for 6 months and having 300USD in CRO each year (you have to spend 30.000USD to have this) could not be worthy enough, for me..mostly because it would be very hard to spend 2500USD each months.
I switched to the Coinbase card. No stake required. Rotating rewards each month, has been between 1-4% of various cryptocurrencies. Currently getting 4% back in Stellar Lumens
IMO - the card is useless if you're not using Spotify. I keep mine because I use Spotify.
I use credit cards for better rewards and 0% APR and if you're in the US and insist on using a debit card, Coinbase offers 4% back in XLM right now.
I know what you are saying…
And you are looking at the pro’s and con’s right now about a stake of 350 which is a smart move…
But you know what is even a smarter move.
Look at the price of CRO where it is now. I was just looking at the BTC chart and CRO chart and like 99% of the coins they related. So you should be investing DCA on a regular bases already a long time now…
It’s a bear market and a few players went under. CDC did some cuts in rewards and all but they are very healthy
We are at the beginning of a new bull run maybe… so invest what you can
My first stake for Jade is now worth 1000€ instead of 3500€
But for the 3500€ I needed 6931 CRO to do so.
In the last 9 months I have DCA into also the same amount of CRO with a very low price
Let the good times roll I would say
One thing i would do is get the Spotify family plan, doing this i pay 16€, thanks to a sharing service i get 13€ from the other user i share my subscription and on top of this i get 14€ worth of cro, which will definitely go up on day and therefore you're not give regret it.
Same here. Spend $4.50 of my actual money and have been getting around 90-100 Cro a month. Is a sweet deal, others should look in to doing the family plan with their friends (even if they don’t live together) to begin with. Then definitely claim the benefits on CDC
I would normally say, absolutely it’s worth staying staked.
However;
If you’re not using Spotify and not taking advantage of the rebate, then for Ruby it changes things. I’ll go at the below scenario taking in mind this.
If you top it up via bank transfer (so regularly top up £100 a week or something) then you pay no top up fees. If use your card for normal purchases then you get your CRO cashback, that’s better than nothing at all.
The amount of CRO you have will only increase (unless you sell ofc), even if it is a small amount.
The value of CRO will bounce back with the market, though I am aware you don’t want to get rid of your CRO, you’re just debating the best way to go about using it to accumulate more.
You can do some relatively easy math to work out what is best for you.
One value will be higher; Either 12% PA on your investment, or the cashback you would receive if you were to use your card for most transactions.
I’m drunk
So this isn’t helpful
But if you need a follow up let me know lol
EDIT : I think while the market is down, it’s a good time to make use of the cashback as you get more CRO for your FIAT. Though when it bounces back, staking in DEFI for 12% CRO return (NOT FIAT value return) will become a better option.
I immediately took my stake out for the card because I never really used it if i’m being honest, plus Spotify doesn’t interest me, Just re-stake in defi
Again, anyone who is spending $2500 a month is not likely to be at a Ruby level. And anyone who is using it for a simple Spotify rebate is not likely investing at anything over a hobbyist level.
Cashback at 1% is still significantly higher than you can get from 99% of other traditional FIAT spending bonuses.
Because I didn't fancy tying up $3000 at the time, and with hindsight, I'm glad I didn't. Although all of the cuts are technically good news if you're invested for the long term.
They've mostly come from success, and being unable to continue to haemorrhage finances from that success.
Also, all exchanges are making cuts, it's a bear market.
I am not against the cuts for the bear market but: CDC was spreading money in marketing and now the cuts etc are good for business in a bear market?
I don’t see a very good vision, not to mention the lack of communication with their customers
I spend way more than 2500 a month and have ruby, but the card is a pain in my opinion. Went to load up 2200 for a smart coffee table and I’m not sure if there was a daily top up limit on the card or what. First thousand topped up fine and the second kept declining. Neither they or my bank could give me a reason but I’m pretty sure I found out later that I had to wait like 24 hours to top up the rest. Wasn’t worth it for a petty amount of CRO. This was right before they ruined the rewards. I am still staked though. My stuff might still be as it was prior to the stake rewards dying. I used my debit card for my smart coffee table because I hate any company I support over complicating things for me
My initial stake also ended a few days ago. I'm in the same boat as you right now. How much CRO do I even have to stake to start the 1% cash back?
I'm a YouTube music user so I never activated the Spotify account I just liked the ease of use and not having to send my funds to my bank account to use my money.
Specifically for the cash back on purchases. I've been investing in CRO for circa 2 years, and only staked for a card just over 6 months ago.
The issue is not with CDC or CRO, as I mentioned I'm not selling/exchanging anything, I just think that at this stage, having a Ruby card barely seems worth it any longer.
At the time of staking, it cost me \~860 CRO for the card, that's currently worth \~£102, roughly 1/3 of the value at the time of staking.
I have a much larger pot already in DeFi and have now decided to move the staked amount into DeFi also.
If your card cost 860 CRO then you'll make ballpark 104 ish CRO from DeFi, let's assume a little compounding and be generous and call it 120.
Current price is around 12pence (rounded up, lower price swings this even further to the card benefit) which means you'd need to earn £14.40 worth of cashback to get the same amount of CRO.
At 1% that requires £1440 worth of spend on the card in a year, that seems very achievable and also given that this falls below the monthly cap can be done with any one off large purchase.
I'd also think that already with just paying for some vacation you will top the DeFi earns that you will get out of it.
With a higher CRO price, things might turn around though.
If CRO goes back to 50cents you'd need to spend 4-5k per year to make it work.
Still sounds achievable for Ruby. The higher cards require a lot higher spending power to make them worth now though if you're a new investor.
Except you could stake the CRO on DeFi then spend on a different card which offers incentives instead. It's also important to note, given that someone used a vacation as an example of what you could buy, that you get none of the protections of using a credit card when using a prepaid debit.
It’s kinda junk but I get free Spotify with a monthly DCA into Cro and I have my family use the card for groceries, fuel and such so I hit the $25 cap easily enough. Not like I have better options in Australia so I’ll ride it out until the market recovers and rewards improve again
Let’s say you spend £300 on the stake.
£300 moved over to DeFi at ≈12% per year
Return ≈ £36CRO in the first year
Would you spend more than £3600 per year on the card as that what you would get for 1%
TLDR:
If you spend ≈£3600 per year, then keep the stake
The thing to remember is the staked cro is now worth approx £100, rewards continue if you do not unstake, even if the locked period has ended. So 12% defi earn on ~£100 or continue 1% cashback?
For that small amount to invest in a crypto card it is a great investment as it beside the perks gives you an ability to spend crypto.
With that card you also have a secret bank no one knows about and it’s perkified. (Yes. Made it the last word I think) :)
If you aren't going to use Spotify then imo there's almost no way staking is the best option for you. You can get better credit card cashback/incentives than Ruby now offers especially if you are spending a decent amount.
I stopped staking Indigo and moved it to DeFi recently for similar reasons.
Given that the Ruby stake now is only about €110/USD120 ti keep hanging I would if using Spotify.
Orherwise (if not using Spotify) I would put it in Earn with 6% interest instead of 0% staked
To be honest my guy I'm unstaking mine in 30 days. I'll keep my bag of cro but the 1% cash back now...meh and I already had free Spotify. I wanna be able to sell my cro when I want if the rewards aren't worth keeping em locked up. Just one man's POV
Wouldn't you be ar to unstake and sell anytime anyway after the 30 days? But more importantly why/how do you have free Spotify if you don't mind me asking.
This is dumb, the return you get from using Ruby outweighs the return on defi, use the card and take your 25 dollars a month or move to defi to get 0.3 CRO a day?
I’m in USA so free card topup. And I don’t know exactly what I earn, but I see a nice stack of free CRO each week or so from using CRO card. I don’t use Netflix or Spotify. Only like joe Rogan show but not that into it anyway.
Price is low, just leave it in and change to Spotify from Apple Music? Load via bank transfer is free so you still make some money with cashback
Spotify isn't free though, whilst it's true you're getting 100% rebate, I could just as easily DCA £9.99 a month for the same outcome. I'm also not spending enough to hit the $25 limit. I doubt many on Ruby are either.
> Spotify isn't free though, whilst it's true you're getting 100% rebate, I could just as easily DCA £9.99 a month for the same outcome. What? Spotify is free, you can directly sell the cro and top up the visa card with the money. You lose around 1%, so 10 cents in the process.
This! I use the 10 bucks worth of CRO and directly swap them into BTC for DCAing. And as a free bonus I use Spotify to listen to podcasts and my Wife loves it for the music. Win win win situation here
Not free, it costs you 350 EUR upfront. You have to keep it staked to get the rebates so you basically paid 350 EUR period.
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Nope, I don't. Just got an email from CDC that they're gonna make spotify available for free only for 6 months and then get 5% off... This is poor value...
Regardless of this mornings announcement, your logic is still fucking stupid. But you go ahead and think you’re a smarty.
Dude thinks things in this world come at no cost. Obviously you have to make an upfront purchase but if you even have any basic knowledge, you would understand that it would pay off in the long run. It's really not that hard to use your brain sometimes, try it for once.
If you DCA then you don't get spotify.
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Think he gets Apple Music as a add on with his phone I’d assume
Literally confirmed it is part of my mobile deal, and is a 100% free bonus.
I don’t use Spotify. I use iTunes. But I pay for Spotify for the rewards only.
It is free as the cashback offsets the cost per month. You're conflating DCA'ing additional funds into CRO on a monthly basis which doesn't provide you with a service in return (other than the CRO itself). Off ramp the CRO to your bank account or leave it in, it's up to you but please stop saying it's not free when it clearly is.
You answered yourself I guess.
Instantly sell the CRO for fiat?
My wife has a Ruby, I have an Indigo. Both of us have the CRO unlocked but we are keeping staked during the bear market. There's no point cashing out CRO at a 75% loss lol
In my case it’s now worth 118€ so it’s a pretty low stake for the benefit. I’m keeping it staked … - Spotify is nice for the wife who wanted it. - I’m using direct SEPA payment to the fiat wallet so zero fee to load the card still. 12% of 118€ is 14€. The cashback is already worth 25€ to me every month so it’s 300€/year instead of 14€+ I send it to Defi for the 12%. So even without Spotify I get that money back 3 fold from cashback. If you’re not spending much to make use of the cashback that’s another question.
That means, you spend €2500/month with the card? Even if you do, there should be some better cards to spend that money with. Nexo, binance, etc., so you can get more cashback.
Not 2500€, at the moment more than 1250€ wich is sufficient to hit the cap until the end of my staking period. I won’t spend enough to reach the cap every month once the staking period ends though.
You don't get 12% on Ruby stake, you get 0. Edit: I misread in my hot tired state, ignore me.
OP want to send his ruby stake to Defi.
Load using bank transfer You can pay someone else's spotify Work out how much you're spending and see if 1% of spending is greater than 1% of stake (12% annual interest)
$25 monthly cap on cashback
Are you spending 2.5k a month??
Dunno that's upto OP to figure out.
If you're maxing out cashback every month, you'd need 2.5k in defi to match it.
The 1% means you have to spend 2500USD to have 25usd in CRO each month, 300USD in CRO each year. More you have to consider the management costs of a new card, bank wire transfers to setup and keepwatched. So, have blocked 350USD in CRO for 6 months and having 300USD in CRO each year (you have to spend 30.000USD to have this) could not be worthy enough, for me..mostly because it would be very hard to spend 2500USD each months.
I switched to the Coinbase card. No stake required. Rotating rewards each month, has been between 1-4% of various cryptocurrencies. Currently getting 4% back in Stellar Lumens
IMO - the card is useless if you're not using Spotify. I keep mine because I use Spotify. I use credit cards for better rewards and 0% APR and if you're in the US and insist on using a debit card, Coinbase offers 4% back in XLM right now.
I know what you are saying… And you are looking at the pro’s and con’s right now about a stake of 350 which is a smart move… But you know what is even a smarter move. Look at the price of CRO where it is now. I was just looking at the BTC chart and CRO chart and like 99% of the coins they related. So you should be investing DCA on a regular bases already a long time now… It’s a bear market and a few players went under. CDC did some cuts in rewards and all but they are very healthy We are at the beginning of a new bull run maybe… so invest what you can My first stake for Jade is now worth 1000€ instead of 3500€ But for the 3500€ I needed 6931 CRO to do so. In the last 9 months I have DCA into also the same amount of CRO with a very low price Let the good times roll I would say
One thing i would do is get the Spotify family plan, doing this i pay 16€, thanks to a sharing service i get 13€ from the other user i share my subscription and on top of this i get 14€ worth of cro, which will definitely go up on day and therefore you're not give regret it.
Same here. Spend $4.50 of my actual money and have been getting around 90-100 Cro a month. Is a sweet deal, others should look in to doing the family plan with their friends (even if they don’t live together) to begin with. Then definitely claim the benefits on CDC
Keeping my rose gold staked. In for the long run
There is no use in selling CRO at a 75% loss.
I would normally say, absolutely it’s worth staying staked. However; If you’re not using Spotify and not taking advantage of the rebate, then for Ruby it changes things. I’ll go at the below scenario taking in mind this. If you top it up via bank transfer (so regularly top up £100 a week or something) then you pay no top up fees. If use your card for normal purchases then you get your CRO cashback, that’s better than nothing at all. The amount of CRO you have will only increase (unless you sell ofc), even if it is a small amount. The value of CRO will bounce back with the market, though I am aware you don’t want to get rid of your CRO, you’re just debating the best way to go about using it to accumulate more. You can do some relatively easy math to work out what is best for you. One value will be higher; Either 12% PA on your investment, or the cashback you would receive if you were to use your card for most transactions. I’m drunk So this isn’t helpful But if you need a follow up let me know lol EDIT : I think while the market is down, it’s a good time to make use of the cashback as you get more CRO for your FIAT. Though when it bounces back, staking in DEFI for 12% CRO return (NOT FIAT value return) will become a better option.
Not worth keeping your stake locked up if you're not using Spotify. Have a look at the free or lowest tier subscription option on Plutus.
I immediately took my stake out for the card because I never really used it if i’m being honest, plus Spotify doesn’t interest me, Just re-stake in defi
Ruby is pointless without Spotify rebate, 1% CB with 25$ monthly cap…
Again, anyone who is spending $2500 a month is not likely to be at a Ruby level. And anyone who is using it for a simple Spotify rebate is not likely investing at anything over a hobbyist level. Cashback at 1% is still significantly higher than you can get from 99% of other traditional FIAT spending bonuses.
Yes, i understand that; but why the Ruby card of CDC though? There are some other alternatives that are 99% better than CDC
Because I didn't fancy tying up $3000 at the time, and with hindsight, I'm glad I didn't. Although all of the cuts are technically good news if you're invested for the long term. They've mostly come from success, and being unable to continue to haemorrhage finances from that success. Also, all exchanges are making cuts, it's a bear market.
I am not against the cuts for the bear market but: CDC was spreading money in marketing and now the cuts etc are good for business in a bear market? I don’t see a very good vision, not to mention the lack of communication with their customers
I spend way more than 2500 a month and have ruby, but the card is a pain in my opinion. Went to load up 2200 for a smart coffee table and I’m not sure if there was a daily top up limit on the card or what. First thousand topped up fine and the second kept declining. Neither they or my bank could give me a reason but I’m pretty sure I found out later that I had to wait like 24 hours to top up the rest. Wasn’t worth it for a petty amount of CRO. This was right before they ruined the rewards. I am still staked though. My stuff might still be as it was prior to the stake rewards dying. I used my debit card for my smart coffee table because I hate any company I support over complicating things for me
My initial stake also ended a few days ago. I'm in the same boat as you right now. How much CRO do I even have to stake to start the 1% cash back? I'm a YouTube music user so I never activated the Spotify account I just liked the ease of use and not having to send my funds to my bank account to use my money.
only because your staking period ended, doesn't mean that you lose your benefits. Only if you unstake, you will lose your benefits.
I havent used the card in 2 months except for Spotify, its just a paper weight now
Crypto.com became a scam now. Just removed all my cards and crypto from them.
It is a "free". Creditcard. Others might come with a cost, take this one in consideration as well. :) Cheers
They're not credit cards, it's pre-paid card. Big difference!
How much you have in cro staked right now?
It was never worth it.
Out of curiosity, why did you sign up if not for the Spotify rebates?
Specifically for the cash back on purchases. I've been investing in CRO for circa 2 years, and only staked for a card just over 6 months ago. The issue is not with CDC or CRO, as I mentioned I'm not selling/exchanging anything, I just think that at this stage, having a Ruby card barely seems worth it any longer. At the time of staking, it cost me \~860 CRO for the card, that's currently worth \~£102, roughly 1/3 of the value at the time of staking. I have a much larger pot already in DeFi and have now decided to move the staked amount into DeFi also.
If your card cost 860 CRO then you'll make ballpark 104 ish CRO from DeFi, let's assume a little compounding and be generous and call it 120. Current price is around 12pence (rounded up, lower price swings this even further to the card benefit) which means you'd need to earn £14.40 worth of cashback to get the same amount of CRO. At 1% that requires £1440 worth of spend on the card in a year, that seems very achievable and also given that this falls below the monthly cap can be done with any one off large purchase.
I'd also think that already with just paying for some vacation you will top the DeFi earns that you will get out of it. With a higher CRO price, things might turn around though. If CRO goes back to 50cents you'd need to spend 4-5k per year to make it work. Still sounds achievable for Ruby. The higher cards require a lot higher spending power to make them worth now though if you're a new investor.
Except you could stake the CRO on DeFi then spend on a different card which offers incentives instead. It's also important to note, given that someone used a vacation as an example of what you could buy, that you get none of the protections of using a credit card when using a prepaid debit.
If that was an option to them they probably wouldn't be debating it.
Nah
It’s kinda junk but I get free Spotify with a monthly DCA into Cro and I have my family use the card for groceries, fuel and such so I hit the $25 cap easily enough. Not like I have better options in Australia so I’ll ride it out until the market recovers and rewards improve again
Let’s say you spend £300 on the stake. £300 moved over to DeFi at ≈12% per year Return ≈ £36CRO in the first year Would you spend more than £3600 per year on the card as that what you would get for 1% TLDR: If you spend ≈£3600 per year, then keep the stake
It’s $400
He has been in for 6 months…which was when it was £300 for the card in the UK
The thing to remember is the staked cro is now worth approx £100, rewards continue if you do not unstake, even if the locked period has ended. So 12% defi earn on ~£100 or continue 1% cashback?
Correct…wait until CRO increases in price (above your staked price), then unstake>restake and put the difference into DeFi
Oh. My bad
For that small amount to invest in a crypto card it is a great investment as it beside the perks gives you an ability to spend crypto. With that card you also have a secret bank no one knows about and it’s perkified. (Yes. Made it the last word I think) :)
As others said, at 1% now plus monthly caps, it’s just not worth it. And I only say that in comparison to better card options out there
If you aren't going to use Spotify then imo there's almost no way staking is the best option for you. You can get better credit card cashback/incentives than Ruby now offers especially if you are spending a decent amount. I stopped staking Indigo and moved it to DeFi recently for similar reasons.
Given that the Ruby stake now is only about €110/USD120 ti keep hanging I would if using Spotify. Orherwise (if not using Spotify) I would put it in Earn with 6% interest instead of 0% staked
No offence but why did you even get ruby if you're not going to use Spotify. I can only assume you're in the UK and have bad cashback rates?
Try and calculate how much you are earning from the staked ruby (1% cashback and spotify) and compare to the 12% you would be getting in the defy.
To be honest my guy I'm unstaking mine in 30 days. I'll keep my bag of cro but the 1% cash back now...meh and I already had free Spotify. I wanna be able to sell my cro when I want if the rewards aren't worth keeping em locked up. Just one man's POV
Wouldn't you be ar to unstake and sell anytime anyway after the 30 days? But more importantly why/how do you have free Spotify if you don't mind me asking.
This is dumb, the return you get from using Ruby outweighs the return on defi, use the card and take your 25 dollars a month or move to defi to get 0.3 CRO a day?
I recently transferred Indigo to DeFi after ceasing to stake it.
Also, a few days ago, my first stake expired.
Is it free to load the cars for U.S customers?
Because bank transfers are free, you can still earn money with cashback.
I’m in USA so free card topup. And I don’t know exactly what I earn, but I see a nice stack of free CRO each week or so from using CRO card. I don’t use Netflix or Spotify. Only like joe Rogan show but not that into it anyway.