Nick Chong · 3 days ago · 2 min read · Insights via Grayscale Investments
Amidst COVID-19, Crypto.com is waiving credit card fees for crypto purchases
Digital payment provider Crypto.com will be waiving the 3.5 percent credit card fee for crypto purchases until June. This alongside increased rebates for essential purchases including food, groceries, and delivery, is part of a series of measures introduced by the company designed to provide support from the impact of the global coronavirus pandemic.
No credit card fees for buying cryptocurrencies on Crypto.com
“Today, we’re introducing three measures which we hope will make the next three months slightly easier for our users globally,” Kris Marszalek, the co-founder and CEO of Crypto.com said.
As part of the company’s efforts to combat the impact of the ongoing COVID-19 pandemic, users will be able to buy cryptocurrencies with their credit card without paying any fees.
The company is waiving the 3.5 percent credit and debit card fee for all users for three months, it said on its official blog post.
More money back for essential purchases like groceries and food
Paying for essential purchases such as food, groceries, and delivery with the MCO Visa Card will now come with additional benefits. According to the company, the plastic MCO Visa Card will get 5 percent back on essential purchases, while users with the Metal MCO Visa Card will be able to get up to 10 percent back.
Gift card purchases of food delivery and groceries will also come with double rewards, with food and beverage getting up to 20 percent back, and groceries up to 10 percent.
Some of the brands supported on Crypto.com include Uber Eats, Deliveroo, McDonald’s, WalMart, Tesco, Whole Foods, Safeway, Carrefour, Sainsbury’s, Just Eat, Papa John’s, Domino’s, and more.
The increased incentives come two weeks after the company first announced rewards on purchases using its gift cards. Marszalek said that the tough times ahead should push businesses that are growing to give back to their customers and their communities.
Disclaimer: CryptoSlate is an advertising partner for Crypto.com.
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