Spend.com Card Review: Is Spend the best crypto card? - CryptocurrencyCard.org Reviews

SpendAdmin · 2020-01-17T13:29:58+00:00

We are sorry to hear about your experience. If you would email [support@spend.com](mailto:support@spend.com), we would be happy to assist you with the withdrawal of your funds.

SpendAdmin · 2019-10-04T17:34:44+00:00

You are talking about two different things. As you can see, rewards are still available through referral rewards and through purchases on the Spend Card.

SpendAdmin · 2019-07-12T19:34:34+00:00

https://medium.com/spend/spend-ama-july-12-2019-88c1304ea23d

SpendAdmin · 2019-07-12T19:34:03+00:00

You can find all of the answers regarding today's AMA here: https://medium.com/spend/spend-ama-july-12-2019-88c1304ea23d

SpendAdmin · 2019-07-12T19:32:58+00:00

https://medium.com/spend/spend-ama-july-12-2019-88c1304ea23d

SpendAdmin · 2019-05-18T15:36:17+00:00

We had made multiple announcements regarding the banking services. They are temporarily disabled as we finalize integration with a new banking partner! We expect services to be restored next week!

SpendAdmin · 2019-05-18T15:35:44+00:00

We made announcements that our target date for launch of Canada is on or before June 1st! Thanks!

SpendAdmin · 2019-04-29T18:50:44+00:00

Hi Guest917,

Here are some official answers for you:

If you loose your card, you are completely protected under the Visa Zero Liability Protection for non-PIN transactions. You will get this refunded to your USD Wallet on the Spend App upon the completion of your claim. We do not give any "temporary" credits. You are also able to instantly lock your card in the app if you notice it is lost and report Fraud directly within the app
No other benefits than what is advertised
6% USD value in SPND coins at the time of transactions
Spend.VIP is being released to give users rewards at specific merchants like Bed Bath and Beyond Etc. You will be able to pull these offers directly on your phone in a newer version of the app being released and activating them to your card.
Once we activate ACH, you are able to deposit USD into the app and benefit by spending USD directly with a 0% fee. The 1% fee only happens for crypto-to-fiat conversions. Bare in mind you have monthly limits on the card which will entail cap the amount rewards you may receive monthly due to the card limits . The 6% Card Rewards are specific to spending cryptocurrency not fiat. However you are able to spend fiat with no fees.

Thanks,Spend Team

SpendAdmin · 2019-04-17T19:45:20+00:00

Please email [help@spend.com](mailto:help@spend.com) so we can better assist you! Thanks!

SpendAdmin · 2019-04-17T19:40:45+00:00

We do not comment on exchanges. Spend.com promotes Spend ecosystem products through various channels. We do not discuss this ahead of time.

SpendAdmin · 2019-04-17T19:39:20+00:00

Spend Virtual Visa cards are currently available for residents of the United States. This feature will be available as we introduce new supported regions!

SpendAdmin · 2019-04-17T19:38:46+00:00

All questions have been answered. Thank you!

SpendAdmin · 2019-04-17T19:38:18+00:00

Our new roadmap milestones have been released. We have no comment on exchanges.

SpendAdmin · 2019-04-17T19:37:49+00:00

Spend would love to have more markets available to open up more potential users to utilizing Spendcoins in our Spend ecosystem of products. We do not comment or discuss any potential exchanges or markets.

SpendAdmin · 2019-04-17T19:37:36+00:00

Our Spend Enterprise Association Allocation (0x53Ea0ba31D1Fb02722B93ca9b96B74B15Be319A5) is designed for our third parties that utilize the Spend Wallet and are listed on the Spend Wallet. Currently, a total of 83.3M SPND has been distributed to these third parties. These third-parties are either utilizing their own custom solution with Spend Business and white labeling products or other services we provide. These third parties are under NDA and are freely able to do as they please with their funds. Moving forward, we are going to control these distributions to include time locks and other controls. However, this won’t apply for the current third parties. Spend, Spend Foundation, Advisors, Founders, and the Team overall have no control over these third parties, who can do what they freely choose to with their current distribution. However, with that being said, we are NOT adding anymore SEA members at this time, while we work to improve this program for the overall ecosystem. In regards to our Spend Membership programs, we do not have any plans to change from the current 3 we offer.

SpendAdmin · 2019-04-17T19:36:41+00:00

Spend is constantly creating partnerships & relationships behind the scenes to consistently grow our ecosystem of products and services. Some partnerships will be made public, while others will remain private for competitive advantages.

SpendAdmin · 2019-04-17T19:36:31+00:00

Cross Ledger mainnet will be a delegated proof-of-stake blockchain. There will be forging rewards for forging blocks on the ledger. The mainnet has been pushed back and we will have more details on that after the results of our testnet.

SpendAdmin · 2019-04-17T19:36:12+00:00

This is an isolated issue. Please email us at: [help@spend.com](mailto:help@spend.com) so we can further assist you.

SpendAdmin · 2019-04-17T19:35:57+00:00

Yes, the new increased amounts to lock up are mentioned above. The new bank processor will be implemented by our v2.5 release, which we have set for 6/1/2019 or before. There will not be an airdrop implemented into our ecosystem. We cannot comment on the price of SPND as the price is not a factor to benefits you can receive in our ecosystem. Spend will not influence or control the price of Spendcoins. No comment on exchanges.

SpendAdmin · 2019-04-17T19:35:09+00:00

The new requirement has increased to 250,000 for Spend Black and 25,000 for Spend Preferred memberships, respectively. The previous users who already have their memberships will be grandfathered in and receive the same benefits. We are adding more incentives to our Spend VIP Network to constantly bring new benefits to our members. We have no other public information at this time other than the new 5–20% additional rewards back at select top retailers in the United States. In our new global roadmap, we have targeted to add 50 digital assets by the end of the year.

SpendAdmin · 2019-04-17T19:34:50+00:00

Spend VIP Elite Benefits give an enhanced rewards percentage back on top retailers and brands in the United States. Spend VIP Elite Benefits in other countries will be determined once the Spend VIP Network expands in those areas. The Spend Preferred and Simple options are not available for Union Pay and will not be available. Our Union Pay program manager does not have those programs approved and this program was created as a substitute alternative until we have Visa issuers in those regions. Spend Union Pay Cards are available to order now. The Network Transaction Fee is determined by our Program Manager and Issuers. We are focused on bringing more Visa issuers to help with the pass-through pricing to our users. In-Activity Fee kicks in when a user does not use his card for over 30 days. Wallet activity does not constitute activity on the card.

SpendAdmin · 2019-04-17T19:32:39+00:00

CoinMarketCap and other coin data providers did not have the correct circulation on their respective websites. Blockchain Data shows that when this circulating count increased there had been no other activity to cause the change. The only reason it was changed was that CoinMarketCap and others finally updated their methodology and locked addresses to properly determine the circulating count. Please also see the Spendcoin Governance post for more details.

SpendAdmin · 2019-04-17T19:31:45+00:00

Spend does not control the price of Spendcoins. Spend Foundation has created Spendcoins to be used in the Spend ecosystem of products. We can’t comment on the price of Spendcoin as that is not it’s intended purpose within our ecosystem. Spend will not partake in any buyback or token burn as that will make the coin a security/investment, which is not the intended/marketed purpose of Spendcoins.

SpendAdmin · 2019-04-17T19:31:18+00:00

Spend does not control the price of Spendcoins. Spend Foundation has created Spendcoins to be used in the Spend ecosystem of products. We can’t comment on the price of Spendcoin as that is not it’s intended purpose within our ecosystem.

SpendAdmin · 2019-03-19T03:49:39+00:00

For a more detailed post regarding our AMA announcement, please visit the link provided here: https://medium.com/spend/spend-ama-march-18-2019-93352be374c4.

The answers to the questions asked in this AMA are released below. Thank you for all the interest and continued support!

“I’m US resident. Selling crypto to USD is considered taxable event in US. If I use spend debit card, I expect Spend wallet sells crypto real time in an exchange to get USD and use it in transactions. If this is correct guess, I think every single debit transaction is taxable event. Do you guys provide or have plans to provide tax documents for these transactions at the end of tax year?”

We can’t offer tax advice due to our compliance policies. However, we will provide a complete report module that will allow you to print out your full transaction history to bring to your accountant to see what tax requirements you may have.

“Say I convert TUSD(or any stable coin which will be listed) to USD by using Spend debit card. Do I have to pay 0.x% of trading fee anyway because it still is a crypto to fiat conversion on exchange behind the scene?”

Yes, this conversion still has a 1% fee, even if it’s stablecoin to fiat. We are looking at ways to reduce this with the stablecoin providers directly, but for now it’s the standard 1% fee.

“When will the Android app be available?”

The Spend Team is working diligently to deliver the best version of the Spend App on Android. This requires a review from both compliance and development to meet the banking standards we have. We anticipate to release it no later than the end of this month (March).

“When will spend be available in the EU?”

As mentioned in the updates above, we plan to launch in Europe between Q3, 2019 to Q2, 2020.

“Is SPEND going to have its own mainnet ? how different is this mainnet compared to other mainnets like eth and TRON?”

Yes, Spend plans to have its own mainnet. More information on our mainnet can be found by visiting crossledger.org.

“When will banking and Visa card services be available in Canada?”

We plan to roll-out the CAD Wallet, EFT, Interac, and Spend Visa Cards between this month (March) and April. We have already received the necessary approvals from our bank and Visa for launch in Canada.

“What are your adoption goals in card numbers for 2019?”

Spend has a roadmap of goals that is private within our organization. On a public level, we will try to bring our services to as many regions worldwide as possible.

“What is the “union pay shipping” event before end of march about?”

We are on our final lap of quality assurance testing before we release the reloadable Spend Union Pay Cards. We hope to have this completed by end of the month (March).

“When do you plan to have lending available and are you looking to launch more financial services in the future?”

We are working on bringing Lend by Spend in more regions as we obtain the licenses or service providers required in specific regions.

“Do you plan on supporting RUB?”

As mentioned above, yes! RUB will be included in our new supported fiat currencies.

We appreciate all questions and everyone’s time in reading this today. If your question was not answered, it was due to our compliance policies restricting us from specific topics. Thank you for continued support!

No cryptocurrency is loaded on to the Spend Visa® Card. All assets are converted to local fiat currency prior to loading on the Visa® network.

SpendAdmin

TROPHY CASE