How to Minimax Your eidooCARD Crypto Cashback Rewards
Updated: Dec 22, 2021
Disclaimer: By the end of this blog post, it will be quite difficult not to order your eidooCARD, so be warned. You’ll learn about the crypto card benefits and fees.
Something that costs you hardly anything and gives you multiple advantages may seem a bit strange. But here at Eidoo, we call it business as usual. That's what we've tried to do by launching the eidooCARD, and well, you tell us if we've succeeded.
Actions speak louder than words so let's get you started with the advantages you might be missing out on.
When it comes to eidooCARD, there are no hidden card fees for administration or bureaucracy costs. This is true for all tiers of the card, from Basic to Black.
Plus, no matter what tier your card is, you can always apply for a crypto card upgrade. Depending on the tier you choose, you will need to stake a certain amount of PNT tokens. Considering that the staking is not a payment but provides a return, it doesn't seem appropriate to call it a cost, does it?
Once you have your card, you just have to activate it in the Eidoo application, and it's ready to use. But exactly, how careful do I have to be when using it?
Using the eidooCARD is not only easy but also convenient. Depending on the staking amount tier, different crypto card cashback rates are available on purchases made with it.
Note that the benefits are applicable to all payments, with a few exceptions that you may want to check. The breakdown of benefits goes as follows:
For the Basic card you start with 1% crypto cashback with no staking needed
Moving to the next level with the Basic+ card the crypto cashback rises to 4% for 3,000 PNT staking
VIP cards entitle the owner with an 8% crypto cashback in exchange for 10,000 PNT staking
Staking 25,000 PNT gives you access to the VIP+ and its 12% crypto cashback
Black gives the most crypto card rewards, requiring a stake of 200,000 PNT and a 16% crypto cashback.
If your card is also denominated in EUR, the card is free to use in all EEA (European Economic Area; EU + Iceland + Norway + Liechtenstein) countries, and any payment you make with your card in EUR will not incur any extra charge. If your card is in GBP you will be able to use the card in the UK at no extra cost on any payment.
For every purchase you make with your card, you will receive a percentage back on your crypto card wallet. This rate depends on the tier of the card you have and will be automatically added to your PNT token balance any time that you have accumulated 300 GBP/EUR of spending.
All charges (or refunds) on your card are updated on the Loopring wallet associated with your card. When you want to withdraw funds from this wallet, you can do it in two ways. Either you withdraw them to your Eidoo wallet, or you can retrieve them at an ATM that accepts VISA.
Withdrawing money from a VISA ATM is also free of charge with a daily crypto card limit of 250 EUR/GBP. The only cases in which you may be charged for this service is if the ATM does not give you the currency in which you have the card, with an extra charge for the exchange rate or if you withdraw the money at a third-party ATM, which in any case must inform you of this before accepting the transaction.
Likewise, if you want to withdraw money in a shop (in-store cashback), it is also free of charge and up to 50 EUR/GBP.
The use of ATMs to check your balance has a small charge but keep in mind that this is available at any time via the Eidoo app on the crypto card wallet at no cost.
As you can see, using the card couldn't be more straightforward and more rewarding. There is not much more mystery. If you have any questions, you can find more information in our help section.
eidooCARD is everything you expect from a debit card together with everything you like from a crypto account. Are you still reluctant to order yours?