The Debit Card Review & What are the Most Popular Stablecoins?

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In This Issue

  • The debit card review.
  • I have a report for you on the most popular stablecoins.

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The Debit Card Review

Before diving into the card review, we’ll first provide you with a brief overview of what the card actually is.

Skip to the bottom of the article for our review.

The card is a crypto-backed card provided by – one of the best apps on the cryptocurrency market.

Most people involved in cryptocurrency will have heard of due to the platform’s low fees and user-friendly trading experience.


<h3 id="“>Is the Visa card a credit or debit card?

The Card is a debit card, a prepaid debit card, not a credit card. In essence, prepaid cards are similar to debit cards, the only difference being that debit cards are linked to your bank account, whereas prepaid cards need topping up.

With a card you can top-up using your bank account, other debit cards and/or from your cryptocurrency wallet. 

It’s important to note that offers flexibility for those who do not wish to use crypto but instead use FIAT, ensuring the card appeals to a broad user base.

Another great feature is that US-based users can top-up the card instantly using PayPal (although a 2.1% transaction fee is attached to this process). 

<h3 id="how-to-use-the-debit-card?“>How to use the Debit Card?

Get the card, top up the card, swipe the card, and earn rewards. Easy!

The card is powered by VISA and therefore can be used in over 40 million physical locations around the world.

The VISA network is offered in more than 200 countries, making the Card a great option for frequent travellers. 

Of course to do any of that you will need to have money on the card!

There is a minimum top-up amount of $20, and card users can add up to $10,000 per day onto the card. 

Alongside using the card to pay for online and offline transactions, users can also make ATM withdrawals with the card.

Each tier has a specific threshold of fee-free withdrawals, with the maximum being $200 for Midnight Blue cards.

The card also has a wildly popular cash back program, but more on that in a moment. 

<h3 id="“> Card Benefits

As shown below, each card tier comes with a specific set of rewards.

Naturally, higher tiers will have the best rewards, with the Obsidian tier being the pinnacle.

However, lower tiers will still accrue rewards, but on a lesser scale.

The most common benefits available to the widest number of card holders is the free Netflix and the free Spotify. 

But perhaps the most popular reason to use the card is that every time you swipe the card you get “cash back” in the form of CRO tokens.

This allows you to easily spend crypto profits and also to earn continual crypto rewards when making purchases.

To receive rewards, users must undertake some staking using CRO (except for the Midnight Blue Card which is Free).

As touched on earlier, users can unlock each tier by staking a specific amount of CRO, denominated in USD.

The rewards that cardholders receive are paid in CRO.

The Debit Card Review & What are the Most Popular Stablecoins? - - 2024
The Debit Card Review & What are the Most Popular Stablecoins? - - 2024
<h3 id="virtual-card“>Virtual Card also offer a handy ‘Virtual Card’ for users who have upgraded to a new tier and are waiting for their physical card to arrive.

This virtual card will have its own set of card details, which can be used when paying for subscriptions and online purchases.

Notably, virtual cards can be linked to Apple/Samsung/Google Pay to streamline the buying process.

<h3 id="“>How to get the Debit Card?

To do so, you will first need to sign up through the App account and complete the KYC (know your customer) verification.

The card itself is exclusive to CRO holders, so you must purchase CRO before being able to obtain the card.

You can either buy CRO directly in the App or deposit them into your account.

The amount of CRO depends on the card tier you’re applying for.

(Please note, the Midnight Blue tier does not require CRO staking, whereas the other tiers do). 

Finally, you go to the ‘card’ tab in the App, select your desired Visa Card, tap the ‘Stake CRO’ bitton and follow the on-screen instructions and confirm your delivery address.

You can easily keep tabs on your card by looking at the mobile app’s ‘Card Status’ section.

US-based users can expect to receive their Visa card within 7-14 business days.

Once the card arrives, click ‘Activate My Card’ on the App, enter your card’s 3-digit CVV number, and create a PIN.

After this, you can top-up the card through the app and begin using it right away.

<h3 id="“>How to make money with the Debit Card?

Cash Back 

One of the most popular features of the card is getting cash back for every swipe.

This ranges from 1% with the free Midnight Blue card to 8% to the wildly expensive Obsidian card.

This cash back reward is paid in CRO which you can sell for Bitcoin or any other coin or which you can stake to earn more CRO rewards.


Ok, while this is not technically making money.

Money not spent is still pretty cool. If you already use Spotify for example then getting a rebate every month from your Ruby Red Card is going to be pretty awesome.

That just means more money in your pocket. 

Beyond the card, the App offers some great ways to make money

Crypto Earn

Aside from the CRO staking rewards, also offers other valuable benefits – including one of the best Crypto Savings Accounts.

This account allows you to earn up to 14.5% interest on eligible cryptos (and up to 14% on stablecoins) whilst also providing options for investors who do not wish to employ a lock-up period. 

In order to achieve the best rates you will need to lock up CRO. 

Crypto Credit

You can use this service to borrow up to 50% of your ‘crypto collateral’ – which is essentially monetising your current holdings without selling them.

Currently, the ‘borrow rate’ or in simple terms, the interest rate is 8% p.a.

*** Do note this is not without risk and your position can be liquidated. 

Here is an example of how this would work through’s credit facility.

You deposit $10,000 worth of BTC and receive $5000 in a stablecoin like USDC.

You will be charged  8% to 12%  interest depending on CRO stake, this means that you will pay back $33.33-$50 interest per month. 

Is the Debit Card right for me? How to choose the right one? 

There are a lot of options to choose from, but probably the easiest deciding factor for you is going to be what you can afford.

The Midnight Blue is free.

Free is good, but the only benefit is 1% cash back.

Obviously the Ruby Red card at $400 is the most popular as it gives 2% cash back and free Spotify.

Beyond that the cards increase by 10X for each tier.

$4,000 for the Royal Indigo and Jade Green.

$40,000 for the Rose Gold and Icy White.

And a whopping $400,000 for the Obsidian. 

If you are going for any of the higher tier cards, really stop to ask yourself if it is worth it.

How often will you plan to use it?

Will you actually take advantage of the perks? Are the perks even worth it for you?

Also consider the limitations too.

ATM withdrawals are only $10,000 for the top tier card. Is that going to be enough for you?

Are the top up limits sufficient for you? 

<h3 id="the-review—our-final-verdict “>The Review – Our Final Verdict 

If you are looking for a way to easily spend your crypto then it is a great card.

The in-app features also offer a great range of ways to use your crypto from earning to taking loans to buying.

The cash back rewards can also really add up, and does offer some of the best potential rates.

And depending on what services you already use those rebates for services like Netflix can really make a difference to your bottom line. 

The card does not charge any annual fee and has rather generous rates when it comes to ATM withdrawals and other limits.

That being said, other popular cards like the Coinbase Debit Card also have no annual fee.

Furthermore, cashback amounts for cards like the one from Coinbase tend to be lower at top tiers.

Coinbase offers up to 4% cashback, whilst provides up to 8% cashback.

All you need to do is to get that 8% from is spend $400,000, easy right? LOL.

Also note that with you need to lock up CRO tokens to get the best reward tiers.

The Coinbase card does not require this.

One other factor working in the favour of the Card is that it is available in a wide range of countries around the world.

Coinbase, for example is a USA only card. cards are not without their controversy either.

The company has often adjusted reward rates at short notice leaving users less than happy.

Communication and customer service have also been an issue as the popularity of exploded.

And unless you truly plan on using the card a lot then it may not be worth the money you spend on it.

So keep that in mind! 

Final thoughts, the is a great card for crypto investors.

It has a good range of benefits that make it an attractive purchase.

Although it is not for everyone since not everyone may use the perks or do enough volume on the card to make it worthwhile.

A more casual user may want to just stick with the Midnight Blue Card or perhaps even explore other options available in your jurisdiction.

Most Popular Stablecoins by Lark

With the recent collapse of UST, I wanted to dive into stablecoins again. So let’s do a quick run down of the best stablecoins.

And before I do that I want to say that literally everything in crypto is a risk. Yes, even stablecoins.

And, no, this is not an exhaustive list of stablecoins.

Coingecko alone lists about 80 stablecoins and even that is not an exhaustive list. 



My Rating 0


This is the native stablecoin of the Waves network. It also operates with a crypto collateral redemption system similar to, but not exactly like, UST. Waves CEO breaks down key differences HERE. That being said it has significant issues trying to hold its peg. It is essentially a dangerous experiment on par with UST. 

My Rating 1/10


The newest offering from Justin Sun, of Tron. This is an algo stablecoin which can allow investors to earn up to 40% on a Tron based platform. The mechanics of this are scarily similar to UST. It feels like a dangerous experiment and I will be staying far away. 

My Rating 1/10


Why do you like to hurt yourself? Seriously. While on the one hand MIM is “safe” because it is over collateralized on a model similar to DAI. The real problem with MIM comes with the people behind it. The director of MIM and related products knowingly allowed one of the industry’s worst serial scammers of QuadrigaCX fame to be involved with one of his other close projects, Wonderland. Which makes you wonder what kind of poor judgment must be shown with MIM? How can anyone actually trust their money here? That being said it does still have use cases in defi, and in theory the collateral model should work. 

My Rating 3/10


Frax is an algo stablecoin. Yeah, another one, but this is not UST. Frax maintains a partial collateralization of USDC… so why not just hold USDC? It is also looking to acquire layer one tokens like ETH and AVAX to back the coin. It also uses the Frax Shares, a secondary token, to help maintain the peg. It has an ok level of use cases in defi, and almost no centralized exchange adoption. While this is definitely less risky than UST, ask yourself, do you really want to gamble on another algo stablecoin? Is the risk worth it? In my opinion the only reason to hold this would be for a specific farming opportunity, but even then remember this is still an experimental coin. 

My Rating 3/10


This is the Gemini dollar. Backed by the exchange of the same name. In theory it is a solid stablecoin, but almost no one uses it except Gemini and Blockfi (Gemini is an investor, surprise!). The defi use cases are nearly non-existent. 

My Rating 5/10


The Trust USD, it has 1 to 1 backing and audits. Easy redemption for real dollars. Has limited adoption across defi and centralized exchanges. But overall a “decent” stablecoin option. Bonus points here is that Trust Company also offers stablecoins for Canadian Dollars, Australian Dollars, British Pounds, and Hong Kong Dollars. 

My rating 7/10


Is the Paxos Dollar. This is a pretty damn safe stablecoin. Fully regulated. Fully backed. Regularly audited. BUT, it has failed to see any real deep integrations across the defi space, nor has it taken off in any big way on centralized exchanges. You might as well just use BUSD which has all the same benefits, but is also used everywhere. 

My Rating 8/10


It is everywhere. It is a staple of centralized exchange trading pairs. It is backed in a similar fashion to USDC by a basket of dollar denominated products. It is one of the “better” ones for sure.

BUT, the team has a history of being shady, lying, and failing to deliver on transparency. Which makes it far from ideal in my opinion. And while I frequently use USDT, I do not store money in it when not needed. Once I am done with a farm I usually move back to USDC. Oh, and Tether has been frequently the target of investigations by US regulators.

These reasons are why we saw USDT depeg last week in the aftermath of the UST mess, because fundamentally people have trust issues with USDT. That being said, USDT gets points for being the first mover and so widely adopted, but otherwise… 

My rating 8/10


Is a very popular stablecoin which has seen strong adoption on defi, but little adoption from centralized exchange services. Maker Dao, the platform behind DAI is one of the earliest defi protocols. Dai is backed by over collateralized loans. Thus ensuring that any bank run risks are kept very minimal since there is always way more collateral in the system than DAI. I don’t use DAI frequently simply due to more limited use cases, but I do think that DAI is pretty safe for a stablecoin backed by crypto collateral and it has been around for a few years. 

My rating 9/10


This is the Binance dollar. Actually a pretty good choice for a stablecoin assuming you trust Binance. BUSD was co-founded by Paxos, a highly reputable stablecoin company.  BUSD’s reputation and security is backed by one of the world’s biggest exchanges. BUSD is widely used in defi, on centralized exchanges, and lives across many chains. It is fully backed with cash and treasury bills and undergoes monthly audits. It is also fully regulated. 

My rating 10/10 


Is a stablecoin launched by Circle and Coinbase. Its value is guaranteed by Coinbase, one of the biggest and most trusted exchanges, which will always exchange 1 USDC for 1 real dollar. It is fully backed by assets held in US accounts. It is audited monthly. It has money licenses and is fully regulated. It also has HUGE adoption. This is why I am putting USDC at the top of the list in rankings.

It can be used across almost all defi applications on almost every blockchain. It is growing in prominence on trading pairs on centralized exchanges. It has even been adopted by companies like Visa. From what I see, USDC is “the stablecoin” to be using, but BUSD is a very close second. 

My Rating 10/10

Final Notes

Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.

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Lark and the Wealth Mastery Team


Legal Disclaimer

TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.

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Join the Wealth Mastery Investor Report

By Lark Davis

Combining cutting edge insider insights and done-for-you market analysis to deliver crypto investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes! We cover DeFi, NFTs, Altcoins, Technical Analysis and more! 

Join the Wealth Mastery Investor Report

By Lark Davis

Combining cutting edge insider insights and done-for-you market analysis to deliver crypto investors the best opportunities to grow their wealth, stay ahead of the curve, and avoid costly mistakes! We cover DeFi, NFTs, Altcoins, Technical Analysis and more! 

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