Lemon Cash Peru review

The app itself is priced at $0 and the Lemon card carries a monthly fee of ARS 0, so there is no standing charge for keeping the account. Charges come from trading activity rather than from holding, which suits people who want to hold a balance without paying for it.

Trading runs as a centralised exchange, with a taker fee of 0% on orders that take liquidity and a maker fee of 0% when you add it. The exchange type is cex, so trades settle on the platform. Derivatives are not offered, so there is no leverage to price.

The operator is listed as a virtual asset service provider with the Comision Nacional de Valores (CNV) in Argentina under licence 162. It also publishes proof of reserves, which lets you check reported balances against on-chain holdings. The company behind the app is registered as Bay Treasure Caramel S.A..

The card is a prepaid card on the visa network, issued alongside the wallet for everyday spending from the balance. Spending earns cashback of 0.5% to 2%, and the card carries a monthly fee of ARS 0. It is built for paying in stores rather than for holding funds between accounts.

Fiat deposits come in through bank transfer only, so funding the account runs through the local banking system. Buying and selling then happen inside the app as a centralised exchange account. A balance can be spent through the card rather than withdrawn straight back to a bank.

Support runs on email and help centre, so questions are handled by email and through the help centre. There is no chat line or phone number to call. Help is written and asynchronous, which suits straightforward balance and card questions but is slower when a transaction needs tracing.

The wallet lists 50 coins, with 50 quoted, which sits close to the 50 typical of the wallets ranked here. Bitpanda lists 650 coins by comparison. Derivatives are not offered, so the product is spot buying and selling rather than leveraged trading.

It is a custodial account, so the money is with the provider and the main risk is provider and market risk rather than a lost seed phrase. Crypto is volatile for individuals: the retail loss rate across the wallets compared here is 70.15%. Treat a balance as money at risk rather than as savings.