Don't trust us with your crypto: introducing transfers
Our customers have never had to trust us with their money – banks do a good job of keeping that safe already. And now they don’t need to trust us with their crypto either. We’ve expanded our Crypto Rewards program to include crypto transfers. So not only can you earn Crypto Rewards with Curve – you can send them to your own crypto wallet. This is what’s known as self-custody. Self-custody refers to the storage of crypto in a non-custodial wallet. This is a digital wallet that gives you a private key to your cryptocurrency, so you alone can access your digital assets, rather than a third party such as a bank or a crypto exchange.
After the collapse of FTX, BlockFi, and Genesis, people are becoming more nervous about trusting an exchange with their crypto. And who can blame them? The whole reason we built Curve was to give people control over their money, not take control of it. So when it came to introducing Crypto Rewards, there was no doubt in our minds that our customers would have the power to own what they earn and transfer their rewards to their own crypto wallets.
How Crypto Rewards work
Last year, we introduced Crypto Rewards to our premium Curve customers in Europe. Curve X customers have the power to earn their rewards in Bitcoin, while Curve Black and Curve Metal customers have the choice of 10 tokens, including Ethereum, Solana, Polkadot and more. All you have to do is flip a switch to opt in to Crypto Rewards and choose your cryptocurrency. From then, any cashback you earn through Curve will be earned in the cryptocurrency of your choice. Your crypto balance will shoot up or down according to its current price. At the time of writing this, Bitcoin is up over 60% since the start of 2023. So if you’d earned £100 in cashback in January, your crypto balance would be over £170 today. You always have the choice to cash out your Crypto Rewards or transfer them to your own wallet. If you choose to cash out, your Crypto Rewards will be converted into Curve Cash, which you can spend virtually anywhere.
Made for the Crypto curious
Curve Rewards are a no-brainer for crypto enthusiasts, but they’re also tailor-made for any crypto-curious folk out there – those who want to dip their toe into the world of crypto without dipping into their life savings. It’s a great way to test the waters and reap the rewards when crypto shoots up in price. And if the price plummets? Well you’re only playing with the extra cash you’ve earned from spending. And it can always go up again. Ultimately, you get to choose if it’s worth the risk.
What’s next for Crypto Rewards?
We’re not planning our own Curve coin just yet, but we will be adding more cryptocurrencies into the mix to give customers as much choice as possible. We will also continue our partnership with the crypto rewards card, Plutus, which gives you up to 8% back in PLU rewards. You can even get a Curve Black subscription free with Plutus or a Curve Metal subscription for just £4.99/month. Just upgrade and choose Curve as your perk on Plutus. You can read more about this partnership here.
Cryptocurrencies are regulated in the UK and Lithuania for money laundering purposes only. This means that you do not have regulatory protection or have access to the Financial Ombudsman Service, the Financial Services Compensation Scheme, the Bank of Lithuania or other financial services consumer protection standard in Lithuania or in the UK if something goes wrong.
Cryptocurrencies are high-risk as they can be highly volatile and consumers face a very real risk of losing all the value of their cryptocurrency.After the collapse of FTX, BlockFi, and Genesis, people are becoming more nervous about trusting an exchange with their crypto. And who can blame them? The whole reason we built Curve was to give people control over their money, not take control of it. So when it came to introducing Crypto Rewards, there was no doubt in our minds that our customers would have the power to own what they earn and transfer their rewards to their own crypto wallets.