Updated: Sep 5, 2020
Accessible Crypto for Everyone
Crypto.com has phased out the MCO token. The whole crypto.com ecosystem now uses the CRO token. Please keep this in mind when reading the following article.
We’ve said this before and we’ll say it again. The driving force behind many of the features offered by Crypto.com is the fact that they want to make cryptocurrency more accessible to the everyday person. And they’re doing this with a range of financial products that would be amazing enough on their own but also happen to offer some fantastic benefits.
But the best product Crypto.com offers has to be their MCO Visa Card, which is something people can’t wait to get their hands on. An important thing to note with the MCO Visa Card, however, is that they're not offered worldwide yet. In fact, until the beginning of this year, they are only available to citizens and residents of Singapore and the USA. In March 2020, they were made available to users in the United Kingdom, with the rest of Europe gaining access in a progressive rollout.
What the MCO Visa card means is that you can pay for your daily bread and milk using funds from your crypto wallet! You are not spending directly from your crypto wallet though. Instead, funds from your crypto wallet are converted into fiat currency (specifically USD) and that’s what you’re using to make your purchase.
This is the lowest tier, and anyone can qualify for this card from the day they sign up to Crypto.com, provided the MCO Visa card is available in their country. Unlike the other tiers, this is just a standard plastic prepaid credit/debit card. But you still get 1% MCO cashback rewards for every purchase (as long as you have some MCO tokens staked), as well as no monthly, annual or delivery fees.
You also get free interbank exchanges and free ATM withdrawals up to a certain limit. That’s not bad for what is essentially a free card!
This is the first of the snazzy composite metal cards that Crypto.com offers. In order to qualify for one, you need to have had a stake of 50 MCO for at least six months. With 1 MCO costing around US$5 at the moment, that means a stake of around US$250. Each tier has different rewards depending on whether you have MCO staked or not, but we’re going to assume that you want the max rewards and do!
With the Ruby Steel card, you get 2% MCO cashback rewards as well as a 100% reimbursement for your monthly Spotify subscription, along with all the same benefits the Midnight Blue tier offers. Your interbank exchange and ATM withdrawal limit is higher too!
Jade Green/Royal Indigo
This tier requires you to have a stake of 500 MCO for at least six months but the rewards are 3% MCO cashback, 100% back on your Spotify and Netflix subscriptions, and free access to LoungeKey airport lounges. On top of this, you also get better rates and higher limits in Crypto Earn! And don’t forget about those free interbank exchanges and ATM withdrawals, of course.
Icy White/Rose Gold
With the Icy White or Rose Gold MCO card, you’re getting 100% reimbursement on Spotify, Netflix and Amazon Prime, 4% MCO cashback rewards, 2% extra earnings in Crypto Earn, free access to airport lounges for you and a guest, plus 10% (or up to US$50) back on purchases through Expedia. Oh, and you can access Crypto Invest once you are an Icy White/Rose Gold cardholder – because you are now a Crypto.com Private member!
Getting this card can be pricey though, as it requires having a stake of 5,000 MCO for at least six months. That’s around US25,000 in case you were wondering – a decision not to be made lightly!
This is the highest tier MCO Visa card you can get, which means you get all the benefits of the other levels, except better! This includes a 5% MCO cashback reward, 100% reimbursements for Spotify, Amazon Prime and Netflix, as well as airport lounge access for you and a guest and 10% cashback on Expedia and Airbnb expenses.
You’re a Crypto.com Private member so not only can you now access Crypto Invest, but you’ll also be earning as much as 8% back in Crypto Earn. To qualify for this card though, you need to hold a stake of 50,000 MCO for six months.
And there you have everything you need to know about the Crypto.com MCO Visa card. It is not the only credit/debit card that allows you to use your cryptocurrency for shopping in the real world, but it is one of the options with the best benefits. And that alone makes it a worthwhile investment in our opinion!
If the MCO Visa card isn’t available in your country yet, then cross fingers that it will be soon. But as it’s already available in the US and Europe, you can be relatively sure that the rest of the world will be following suit in no time!