(I live in the end of the world, a international credit card has super high taxes) Do I need a digital wallet to store the cryptocurrency purchased with a prepaid card? For the disadvantages, the cryptocurrency market’s volatility may also cause the value of cashbacks to fall. For example, a 2% cashback can depreciate to a lower value depending on the market trend. In addition, some cards may lock card owners into a single or only a handful of currency available for crypto coin purchase. Depending on the crypto card issuing institution, one may get crypto rewards until the end of the credit card billing cycle. By that time, the value of cryptocurrency may have changed drastically, making the value of the reward earned and then received afterward ultimately different.

Staking for a Royal Indigo & Jade Green card and upwards will let you earn 10% interest paid out weekly in CRO on your card-staking. Staking for a Frosted Rose Gold, Icy White & Obsidian card will give a 12% total on your card-staking. Best Crypto Debit Card: What It is and How Can It Benefit You? Tax considerations. Any transactions involving digital currency are taxable by the Canada Revenue Agency. When cardholders exchange crypto for dollars, or another crypto coin, there may be tax implications. Consult with a tax lawyer or accountant to understand how using a crypto payment card may affect your income tax bill.