Posted 2 weeks ago | Catoshi Nakamoto
Effective 19 March 2021
CRO Staking Rates will soon be updated for the Crypto.com Visa Card. We are implementing this change to maintain consistent card staking requirements for users during times of market volatility.
From 19 March 2021 09:00:00 UTC, CRO Staking Requirements for the Crypto.com Visa Card will be expressed in local fiat currencies instead of fixed amounts of CRO. Please find the new CRO-equivalent fiat rates in the table below.
- Cardholders who maintain their current CRO Card Stake will continue to enjoy the benefits associated with their card, but
- The new Card Staking Rates will apply should the cardholder (1) upgrade their card tier or (2) unstake and restake their CRO Card Stake at a later date.
- Cardholders who stake CRO for a card based on the new fiat-based rates will receive the exact amount of CRO back when they unstake. For example:
(a) A user stakes 5,000 CRO for a Ruby Card, when 1 CRO = USD $0.08 ($400 / $0.08)
(b) When that user unstakes, 5,000 CRO will be returned to them, regardless of whether the price of CRO is higher or lower at the time of unstaking.
For more details, please refer to the FAQ.
Original article published on Crypto.com’s blog.