Yesterday Eidoo announced that it had received the debit cards and that shipments to the people who had pre-ordered the Eidoo Cards (powered by Moneyfold) will soon begin.
⌛ The countdown is on!
💳 Our team has received the first batch of #eidooCARDS and are performing the final integration tests before we begin shipments📮
Order yours today! https://t.co/EzYj7Uh8E3 pic.twitter.com/wdsriO4HuW
— Eidoo [Non-giver of ETH or other crypto] (@eidoo_io) November 15, 2020
The pre-orders of the Eidoo Cards, in fact, began last March and are still available directly from the mobile and desktop app.
The different types of cards
To date, more than 3,000 basic, VIP and Premium cards have been ordered.
Each of these cards has several advantages and costs.
The Basic card costs 20 PNT which will be burnt. This results in an Eidoo Card that gives up to 1.25% cashback.
The VIP card costs 25,000 PNT which are however staked and therefore the user will never lose them but will only have to lock them. This gives between 1.25% and 3.25% cashback on purchases, fees on swaps and numerous rewards such as a Netflix subscription, gift cards on Last Minute and more.
Finally, the Premium card requires 200,000 PNT to be staked, and gives between 3.25% and 5% cashback. In addition to the benefits listed above for Basic and VIP, Premium also gives holders a free Amazon Prime and Spotify subscription, Economist subscription and gift cards for Marriott Hotel, Royal Caribbean and Fast Private Jet.
How do the Eidoo Cards work
The Eidoo Cards (powered by Moneyfold) are directly connected to the wallet, so there is no need to move the tokens to spend them with the card.
In order to spend them with the card, users will only need to convert the cryptocurrencies into pounds or euros.
The Eidoo Card will therefore allow users to spend their cryptocurrencies stored on the non-custodial wallet when paying in fiat currency in shops and online, just like using normal Visa cards.
In addition, the card has a 10% cashback function, first in the crypto sector.
Eidoo Cards with Loopring
At the end of October Eidoo Cards also announced the integration of Loopring for fast and free transactions.
This is the first Visa debit card powered by a non-custodial crypto wallet to integrate a Layer 2 solution to save its cardholders time and money.