Have you got the news?
Kraken cracked a deal with Mastercard and are now offering a crypto spending card with 1% cashback.
I may enjoy one of those, are you going to?
Here are some of the big letters from their announcement:
Krak Card: a borderless, flexible, and rewarding card that features…
Up to 1% instant cashback on everything /1
Earn instantly on anything you buy online or in-store, anywhere Mastercard is accepted.Zero fees /2
No monthly fees, no transaction fees, no FX fees or ATM withdrawal fees.400+ currencies, from cash to crypto
Spend fiat (EUR, GBP, USD), crypto (BTC, ETH, SOL), and stablecoins (USDT, USDC), all from one card.Tap and go
Add your Krak Card to your mobile wallet for tap-to-pay anywhere.It’s all tied together in Krak: a new personal account where you can send, spend, and grow your assets.
Hereby, of course, go some of the small letters, that are important and I wouldn't miss sharing those:
/1 ATM withdrawals not included, €0,50 min. transaction amount for cashback. Following any introductory offers, your cashback rate depends on the average assets you hold with Krak, Kraken and Kraken Pro. Geo restrictions apply. Check this Support Center Article for more information.
/2 A variable spread will apply when spending across assets. Third party fees may apply.
Using cryptocurrency for purchases may be a taxable event. When you spend crypto, it’s converted to fiat currency, which may create capital gains or losses based on its value change. Consult a tax advisor to understand your individual circumstances. Learn more.
Receiving cashback is generally not considered a taxable event. Consult a tax advisor to understand your individual circumstances. Learn more.
Krak Card is issued by UAB Monavate, authorised by the Bank of Lithuania to carry on electronic money activities and provide related payment services (authorisation code: LB002139). The e-money wallet associated with the Krak Card is provided by Payward Ireland Limited which, trading as Kraken, is regulated by the Central Bank of Ireland.
Spot trading services are offered by Payward European Solutions Limited, trading as Kraken, authorised by the Central Bank of Ireland. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.
Rewards are variable and not guaranteed; you can lose some or all of your assets. Interacting with on-chain smart contracts involves risks which are further detailed in the terms of service, including technological risk (bugs, exploits, and oracle/MEV/bridge failures), market risk (price volatility, de-pegs, and liquidation where relevant), and operational risk (irreversible transactions, gas fees, network congestion). Kraken does not control third-party protocols. Vaults are offered by Payward Wallet, LLC. Fees apply. Availability varies by jurisdiction.
Payward Europe Solutions Limited, trading as Kraken, is regulated by the Central Bank of Ireland.
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