Crypto card Gnosis pay test driveWhat is a crypto card?How to obtain a Gnosis Pay cardSteps to obtain the card:Crypto cashbackAdding funds to the Car

From medium by Artem Kokunov

What is a crypto card?

A crypto card is a bank card linked to a crypto wallet, allowing payments with cryptocurrencies in shops, cafes, and more. Today, several crypto cards are available in Europe, such as Bybit, Bitsa, Nexo, ThorWallet, and others. I use some of them and recently received a new one: the Gnosis Pay Visa Card.

This card offers several unique features that make it attractive:

How to obtain a Gnosis Pay card

To get started, you’ll need an EVM-compatible wallet and the required documents to complete KYC (Know Your Customer) verification. For EU residents, this includes an ID card or residence permit and proof of address.

Steps to obtain the card:

Network name: CnosisRPC URL: https://rpc.gnosischain.com/Chain ID: 100Symbol: XDAIBlock Explorer: https://blockscout.com/xdai/mainnet/

2. Complete KYC Verification: Provide the required documents.

3. Order the Card: Enter your postal address and wait for delivery. My card arrived in about 5 days, but delivery times may vary.

4. Activate the Card: Once received, scan the QR code on the envelope to activate the card. You can also request your IBAN, which is generated within a few minutes.

Crypto cashback

I think it's the main feature of this card. The cashback rate depends on the amount of GNO and ranges from 0 to 4%. And you can get 1% more if become a NFT holder. Nobody offers such opportunities now.

To receive cashback you have to buy GNO token. At the time of writing, GNO costs approximately 247 USDT and is available on exchanges like Binance, Bitget, Kraken, and Gate.io. The market cap is $637 mln. Kenetic Capital (good fund) invested to the project. Project is alive and optimistic. Looks acceptable to invest some money (NFA, DYOR).

Cashback rewards are paid in GNO tokens, which you can hold, swap to EURe, or spend as desired.

Some calculations:

We buy 5 GNO ($1235) and get 2.5% cashback rate

We spent $2000 monthly and receive $50 (in GNO tokens)

If we don’t take into account volatility our annual rewards will be $600 or 48%

Personally, I expect a huge growth of crypto market in 2025 and a much higher profit from this activity.

Adding funds to the Card

You have two main options to add funds:

The second option could be complicated due to the lack of support for the Gnosis chain by centralized exchanges. Consequently, you have to bridge your tokens from other chains. Unfortunately, it’s possible to bridge tokens only from the Ethereum mainnet. All transactions on Ethereum are expensive ($8–20+ depending on network congestion). Therefore, I recommend minimizing them.

For example, you bought $3,000 USDT on a centralized exchange (Binance, Bybit, etc.).

To use all features of the card, you should have: GNO tokens, EURe, and xDAI for gas fees on the Gnosis chain.

3. Swap some xDAI (I sent $10. That's enough for forever) to have tokens for gas fees. I used  Cow Swap  protocol for that. That's all. you can handle everything with your assets on the Gnosis chain without worrying about fees. Transactions cost less than $0.001

4. Swap USDT to GNO if you want to hold it and receive cashback. Send it to your  Gnosis Pay account . Rewards -> Top up GNO -> Wallet transfer. Copy the address and send GNO to it.

6. Swap USDT to EURe. If your wallet doesn't support EURe by default, add it manually.

Contract: 0xcB444e90D8198415266c6a2724b7900fb12FC56ESymbol: EUReDecimal: 18

6. Deposit required amount to your  Gnosis Pay account . Transactions -> Add funds -> Top up Eur. Copy address and sent EURe to it.

7. Unused EURe you can send to landing protocol at interest. I choose  AAVE  as it’s trustworthy enough.

Some calculations:

To deposit one portion of money, we spend about $25. Practically, this is the cost of transferring money from crypto to fiat.

IIf it’s $2,000, the cost will be 1.25%, which looks acceptable.

If it’s $10,000, the cost will be less than 0.25%, which is far cheaper than most other instruments.

Transferring a smaller amount is perceived to have fewer benefits.

Daily spending limit

According to documentation, the maximum daily spending limit is £/€ 8,000. For additional security, you can set a custom limit within this amount.

Supported countries

Currently, Gnosis Pay supports 32 European countries and the UK. Actual list you can find in the  documentation . The team plans to expand to Brazil, the USA, Indonesia, and Mexico.

Areas for improvement

Although I consider Gnosis Pay as a really good product, there are some areas where it could improve:

2. ATM Daily Limit: Currently capped at €500.

3. Apple Pay: Not supported yet, though the team has announced plans to introduce it soon.

4. Virtual Card: Gnosis doesn’t offer a virtual card, which could be a useful addition.

5. Limited Exchange Support: Centralized exchanges don’t currently support the Gnosis chain.

6. High gas fees for bridging tokens from Eth mainnet to Gnosis chain

In conclusion, Gnosis pay is is a high-quality, cost-effective product that I'm ready to recommend to followers and friends. You can use it as a regular card and receive good cashback in GNO tokens or as a crypto card, being mindful of transactions on the Ethereum mainnet.