This one is a prepaid debit card and not a credit one.
Ah. I see. I think that might be where I've been getting a bit confused. Thanks for the extra information.
So the CRO appears in your wallet, not on the card like a fiat pay back would?
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The CRO is initially used for staking if you wish to get the ruby or anything above (2% + ). If you do not want to buy CRO you can opt in for their blue card(dont remember the name) for 1% returns.
You load it with fiat (british pounds in my case) and spend British pounds. Rewards are being paid in CRO and you can either just keep them, convert to your preferred crypto or sell for fiat!
OK. So I need to compare it with the returns I get on my standard fiat cashback card or Avios points etc.
Another thing I don't quite get . . . I read somewhere that you can use cards to legally avoid paying CGT. Presumably that doesn't work in this instance as converting CRO or selling to fiat would be a taxable event.
Maybe you need a credit card to do the CGT thing?
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The CGT question is a good one that I do not have a response yet. I will look into it when we make the next company accounts with my accountant.
Sounds good. 😁
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