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Pre-registration for Kinesis Virtual Card is now open

THIS IS AN UNOFFICIAL PLACEHOLDER POST TO ACCOMODATE THE DISCUSSION IN PROGRESS ON A NEWLY AVAILABLE FEATURE ON THE KINESIS WEBSITE.

As of Monday 30th September, pre-registration for the new Kinesis Virtual Card is now possible via the Kinesis web app.

Details here:

Virtual Card Pre Reg

Pre-register for the Kinesis Virtual Card today to access low-fee spending on precious metals and 2% cashback in gold. T&Cs apply.
kinesis.money kinesis.money

with links on that page to indicate
  • the expanded list of countries currently covered
  • fees
  • Pre-registration T&C's


I will be moving a number of posts from

Kinesis Virtual Card program temporarily paused

The card program provider for the Kinesis Virtual Card, BAANX, is migrating to a new card issuer. During the migration, the Kinesis Virtual program will be temporarily paused and Kinesis users will be unable to use their cards - with immediate effect. The new issuer has the capacity to expand...
forum.kinesis.money forum.kinesis.money
to this thread.
 
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Click to expand...
Lozion said:
Now what?

Kinesis Card Pre-Registration Promotion: Terms and Conditions

Read about eligibility, cashback rewards, and the Paid Plan Fee Waiver benefits.
kinesis.money kinesis.money
Click to expand...
Oh wow. Very good find and we're still in Q3! 😂

This is actually exciting and I will absolutely be getting the paid account.

In short, 2% cashback up to a maximum spend of $2000 per month for $6.99 a month or $77 per year. Maxing the benefits would be $480 cashback - $77 fee = $403 a year PLUS whatever the velocity yield is on the spend.

My last hope would be that we can pay to get a metal physical card.

It's all coming together!
 
Schlepti said:
Oh wow. Very good find and we're still in Q3! 😂

This is actually exciting and I will absolutely be getting the paid account.

In short, 2% cashback up to a maximum spend of $2000 per month for $6.99 a month or $77 per year. Maxing the benefits would be $480 cashback - $77 fee = $403 a year PLUS whatever the velocity yield is on the spend.

My last hope would be that we can pay to get a metal physical card.

It's all coming together!
Click to expand...

Sidenote: is the card going to become one of the best travel cards on the market?
 
Schlepti said:
Sidenote: is the card going to become one of the best travel cards on the market?
Click to expand...
Maybe.

I hope it becomes active ASAP.
I want it now.

With 2% cashback I might use it for groceries as well, because I think the cash back would apply (almost) anywhere you use the card. No gambling apparently.

Could be worth it long term depending on the new fee for the VDC, to break even on the yields you'd need some velocity.

Once you're even it's a 'free ride'. Like socialism free so not really free, but once you factor in inflation, and gold appreciation it's a sure win.
 
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Lozion said:
Is it even official?
"TBC"
Click to expand...
"Qualifying transactions include purchases made using any asset available on the Kinesis platform, including precious metals, fiat, or cryptocurrency (excluding KVTs), provided the user’s account holds sufficient funds to cover the transaction."

Fiat??
 
Lozion said:
"Qualifying transactions include purchases made using any asset available on the Kinesis platform, including precious metals, fiat, or cryptocurrency (excluding KVTs), provided the user’s account holds sufficient funds to cover the transaction."

Fiat??
Click to expand...

To me this reads like the old system for the card where you select and rank what assets you want to spend.

For example:
1. KAU
2. USD
3. KAG
...and so on

Where it would initially use your KAU balance to pay then move to USD, then KAG if your balance in an asset depletes.

Happy to be corrected but that was my understanding for the old card.
 
Schlepti said:
To me this reads like the old system for the card where you select and rank what assets you want to spend.

For example:
1. KAU
2. USD
3. KAG
...and so on

Where it would initially use your KAU balance to pay then move to USD, then KAG if your balance in an asset depletes.

Happy to be corrected but that was my understanding for the old card.
Click to expand...
Correct but fiat is new..
 
I calculate break-even spend (without velocity yield) is $4326 per year

4326 * 0.0178 (2% - 0.22% fee) = $77 approx (annual fee)

Need to also factor in fees for onramping. and CoinTracking.

These are mentioned too:

asset conversion fees, forex fees, and any applicable Mastercard fees.

Fees galore!

Sounds like a bit of a minefield to work out whether it’s worth going with the cashback option.
 
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s5072 said:
I calculate break-even spend (without velocity yield) is $4326 per year

4326 * 0.0178 (2% - 0.22% fee) = $77 approx (annual fee)

Need to also factor in fees for onramping. and CoinTracking.

These are mentioned too:

asset conversion fees, forex fees, and any applicable Mastercard fees.

Fees galore!

Sounds like a bit of a minefield to work out whether it’s worth going with the cashback option.
Click to expand...
When you factor in Cointracking (pro plan) subscription with Kinesis discount, break-even increases to $11,067 per year!
 
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If the ATM allows it I do not this there is a problem. It uses the contactless function so it should work like any other vendro that charges the card contactlessly I still haven’t found an ATM in the UK that does that though.
 
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