UPDATE 1 January 2021: This card has been rebranded into the Crypto.com Card. Please refer to our review of that card instead. We have marked this card as "dead" in our database.
To find other active crypto debit cards, please visit our Crypto Debit Card List.
MCO Visa Card (Crypto.com Card) Review
A common argument for regular money (also known as fiat currency) as opposed to cryptocurrency is that you can’t use cryptocurrency to buy groceries and other everyday items. Well, through the use of a cryptocurrency debit card, you can. This is a review of MCO Visa Card, one of the crypto debit cards out there.
MCO Visa Card (Crypto.com Card) is the result of the rebranding of the Monaco Card. The rebranding transition was completed in September 2018 and the card is now shipping in, among other places, Singapore, USA and the countries in the European Union.
MCO Visa Card (Crypto.com Card) currently supports the following cryptos: BTC, ETH, LTC, XRP, MCO, BAT, BNB, TUSD and ENJ, but it will most likely support even more cryptos in the future.
With respect to fiat currencies, the card supports GBP, HKD, EUR, JPY, SGD and AUD.
The MCO Visa Card (Crypto.com Card) is, as you might have expected, a Visa card, meaning that it is accepted essentially everywhere in the world.
MCO Visa Card (Crypto.com Card) Fees
We think that the MCO Visa Card (Crypto.com Card) charges insanely competitive fees.
There is no issuance fee. There is no monthly fee (0.00 USD). Actually, there is not even any commission on spending. This means that if you buy a nice sweater for USD 100, this will reduce your crypto assets with only USD 100.
There is no maximum or minimum deposit either. Wow, just wow.
The only fee we have been able to find (comparable to other cards) is the ATM withdrawal fee. There is no such fee for withdrawals up to USD 200. But thereafter, the fee is 2.00%.
There are six card types (starting from the least exclusive), where the deal you get is the best for the most exclusive. With “deal” we mean higher limit for free ATM-withdrawals and bigger crypto cash-backs (2.00% for the Obsidian Black, see below). See more on this under Different Card Benefits below. These are the card types:
Midnight Blue (no purchase/stake of CRO Tokens required);
Ruby Steel (purchase/stake of at least 5,000 CRO Tokens – to be held for no less than 6 months – required);
Jade Green/Royal Indigo (purchase of at least 50,000 CRO Tokens – to be held for no less than 6 months – required);
Icy White/Frosted Rose Gold (purchase of at least 500,000 CRO Tokens – to be held for no less than 6 months – required);
Obsidian Black (purchase of at least 5,000,000 CRO Tokens – to be held for no less than 6 months – required).
On the date of last updating this review (20 January 2021), 1 CRO-token was worth around USD 0.083. This means that the four levels mentioned above correspond to the following USD-amounts:
(i) USD 415;
(ii) USD 4,4150;
(iii) USD 41 500; and, finally,
(iv) USD 415,000.
Different Card Benefits
The different card levels bring different benefits. The company behind the MCO Visa Card has produced a very helpful overview, showing the benefits from each and every one of the card types. It is available here:
MCO Visa Card (Crypto.com Card) Cashback Function
The card from Crypto.com also offers something very interesting: a cashback feature. What is a cashback feature? Well, it's actually quite simple, every time you use the card, a percentage of what you pay with the card gets transferred back to you in the form of CRO-tokens. And the percentage is actually from 1-8%, depending upon how many CRO-tokens that you stake. Please be advised here that it is not necessary that you hold a certain amount of CRO-tokens, you need to stake them as well. The CRO-staking levels required for the different cashback-percentages are set out in the below table:
If this is the cryptocurrency debit card for you, congratulations.
If not, check out one of the other epic cryptocurrency debit cards in our cryptocurrency debit card list. Good luck!