This article compiles answers to the most common questions about the CL Card Powered by Ledger.
CL Card is offered in partnership with Baanx.
Yes, you'll need a Ledger wallet that is synced with Ledger Live to move assets between your secured wallet and the card.
CL Card is operated by Baanx.* Powered by Ledger stands next to its name because the card is fully integrated with Ledger’s ecosystem. You can create a CL account in Ledger Live and move assets seamlessly and securely between your Ledger wallet and the card.
Yes, you can use Cryptodraft or Stableloan and open a line of credit to spend on your card.****
Every time you spend with your CL Card, you earn rewards.****
To enable rewards, you first need to select the crypto you want to receive cashback in—currently available in BTC, USDT, and BXX. The reward amount will be calculated based on all the transactions you've made with your card throughout the month. At the end of each month, you will receive a 1% reward for the total amount of card transactions (BTC, USDT) or a 2% reward if you choose BXX.
No, you need to fund your CL Card before you start spending. You can fund the card with the crypto you have in your Ledger Live wallet. Crypto-to-fiat conversion will take place at the time of purchase.***
You have total ownership over your assets as long as their private keys are safely stored in your Ledger wallet. Once you transfer funds from your wallet to the card, they are no longer under self-custody.
CL Card is currently available in the United Kingdom and the European Economic Area**
In the near future, it should be available in more countries. Stay tuned.
The CL Card isn’t available in the country you’re based in yet. You can join the waitlist, and as soon as your country is supported, we’ll send you an email to inform you.
To order and receive a CL Card, you need to be a resident of a supported country.
Setting up an account
Please check if the email ended up in your spam or junk folder. If it isn't there, click to resend the email. In case you still need assistance, please contact email@example.com.
Make sure that you’ve entered the correct phone number and try again. In case you still need assistance, please contact firstname.lastname@example.org.
You must be at least 18 years old to create a CL account and order the card.
As long as you have a registered address in your country of residence this shouldn’t be an issue.
Veriff is an identity verification software used by the CL platform to confirm your identity.
Make sure that you’ve entered the correct phone number. If the problem persists, try scanning the QR code. In case you still need assistance, contact us at email@example.com.
The CL Card is operated by Baanx, and the company should confirm that the information you provided is accurate. It may take some time, so please be patient. And keep in mind that certain features will be restricted while your verification is pending.
To order a CL Card, follow the instructions on the screen. In case of delays or issues, please contact firstname.lastname@example.org.
Updating account information
If you want to update your email address, please contact email@example.com.
If you want to update your phone number, please contact firstname.lastname@example.org.
If you want to update your residential address, please contact email@example.com.
If you want to close your account, please contact firstname.lastname@example.org.
On the login page, click Having trouble logging in. A password reset email will be sent to the address you’ve used to create a CL account. From there, follow the instructions to reset your password.
If you need to change your PIN code, please go to an ATM and follow the on-screen instructions.
Managing CL Card
The CL Card can be used for online purchases and payments.
Once your card arrives, go to your CL account in the Ledger Live app and activate it by entering the 3-digit CVV code— it’s located at the back of the card.
You need to use the PIN code when you make the first payment with your card. You can see your PIN in the Ledger Live app.
The card supports recurring payment authorizations, however, it doesn't allow you to set up a standing order or check your balance at ATMs. Transactions requiring pre-authorization, such as those at gas stations, may also be unavailable.
An ATM will display 0 for any balance inquiries. You can see your card's correct balance in your CL account.
CL platform allows you to have up to 5 wallets, one per crypto. This means that you can link a maximum of 5 wallets to your card.
The available balance displayed for your card is an estimate. We dynamically calculate the total fiat value of your linked crypto wallets + the sum of your assets against live market rates, and then we apply our liquidation fee percentage.
Before ordering your CL Card, you need to pass a KYC and account verification process. You also need to ensure that you have enough funds in your account. In addition, you must reside in one of the supported countries.
Navigate to the Manage Card tab and check the User restrictions section for more information.
It may take up to two weeks to receive your card. If you don’t receive it after this time, please contact our support team at email@example.com or via live chat.
If your card has been lost, damaged or stolen, please log in to your account and navigate to Settings. You'll see the option to freeze your card and report it as lost, stolen or damaged. After that, you can order a replacement card.
Your card may be blocked if you reported it as lost, damaged or stolen. Please contact us at firstname.lastname@example.org if this is not the case or if you need further assistance.
If your card is not working at merchant terminals, it may have been blocked. Please go to an ATM and select PIN SERVICES → UNBLOCK PIN. You should wait at least 15 minutes before attempting another transaction.
If you forgot your PIN code, log in to your CL account and select Settings. Your PIN will be displayed there.
You can deposit crypto on your CL Card through Ledger Live. Navigate to the Card section and transfer funds from your Ledger wallet.
Your total balance is tied to the value of the crypto you hold. This value, and your balance, will increase or decrease depending on the market conditions.
You can enter the terms of the Stableloan you want to use with the calculator—for example, the amount, term length and interest rate—and it will tell you how much crypto you need to deposit on your CL account.
CL Card will hold your crypto as security (or collateral) against the Stableloan. You will receive the full amount of deposited crypto back in your wallet as soon as you settle the Stableloan and interest payments.
Currently, you can deposit BTC and ETH as collateral.
At the moment, you can receive Stableloan in USDC, USDT or EURT.
You can keep it for 3, 6, 12 or 24 months.
You can settle the Stableloan at any time and receive collateral back in your wallet. Just keep in mind that you need to pay the full principal amount and all interest.
Every month, your wallet will be credited with the loan interest payment. If your wallet doesn’t have sufficient balance to cover interest, you can make the payment later in the Stableloans section of the Ledger Live app. Any Stableloans with late or missing interest payments will be highlighted. If you miss multiple monthly interest payments, the CL team will inform you about payment schedules and penalties.
In case there is the risk of exceeding deposited collateral or if your LTV exceeds the agreed amount, the CL team will contact you to add further collateral value and reduce the LTV.
LTV stands for loan-to-value and refers to the ratio of a loan compared to the value of an asset provided as collateral.
Loan → principal amount that a borrower receives.
Value → the value of the collateral asset that a lender receives.
If you have sufficient funds in your wallet, you can add collateral to your Stableloan in the Ledger Live app.
Yes, you can settle your Stableloan and unlock collateral at any point during or beyond the Stableloan term.
Yes. There is no limit to how many active Stableloans you can have at the same time.
With Cryptodraft, you can spend up to 60% of your collateral value as a credit.
Spending the first 10% is interest-free, while the remaining 50% is subject to a 1% monthly-percentage-rate (MPR). The monthly-percentage-rate represents the nominal interest rate accumulated on the principal draft amount each month.
You can. Select Settle → Pay Now. This allows you to repay your full Cryptodraft principal amount and any due interest.
You can. Select Settle → Pay Partial. This allows you to repay any amount you wish—there is no minimum.
The maximum amount you can deposit at once is 2.5 BTC or 32 ETH.
You can use BTC or ETH.
Getting in touch with the support team
You can contact the support team at email@example.com or through our live chat.
24/7 e-mail and live chat support is available.
Currently, support is available in English, French, Spanish, Italian and Portuguese.
* The CL Card and its features are provided by Baanx Group Ltd in the UK and in the EEA.
**EEA: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.
*** Your crypto will be automatically converted to fiat at the time purchase.
***Feature availability depending on your region of residence, and subject to eligibility conditions.