What is Crypto.com ?
Crypto.com is the cryptocurrency and payment platform encompassing a range of products aimed at promoting the adoption of cryptocurrencies on a wider scale. At the moment, the platform offers MCO Visa cards, wallet and portfolio building services.
What happens when cryptocurrency and the mainstream banking system collide? You get Crypto.com. Crypto dot com is an investment, trading and wallet app that encompasses a range of products that promote the adoption of digital coins on a wide scale.
As such, it shouldn’t come as a major surprise that one of the stated goals of the company is to help accelerate “the world’s transition to cryptocurrency.”
While their main selling point primarily revolves around its MCO Visa Card (we’ll get more into that later), its other products include the Crypto Wallet App with interesting features such as Earn, Invest, Pay and Credit (borrowing), as well as the proprietary MCO and CRO coins.
Each service works together to simplify the process of buying, selling, storing, and transferring crypto and fiat funds, all presented within an easy to use app that even a complete novice can use.
A short explanation video
Visa Cards from Crypto.com
MCO Visa prepaid cards are the flagship products offered by Crypto.com which are designed to combine the features of credit and debit cards with those of cryptocurrencies. The cards began shipping to customers in Singapore in October 2018 as metal cards with the following features:
- The basic function of these cards is providing the users with the ability to buy, sell, trade with and spend cryptos in parallel with fiat currencies. For example, in the first series of cards issued in Singapore, the Singapore dollar (SGD) serves as the card’s “basic” currency together with the Bitcoin balance which can be used to top up the SGD via a bank transfer, debit or credit card, or crypto.
- Free ATM withdrawals
- Tap-and-pay feature
- No annual fees and minimum balance requirements for accounts.
- Up to 5% back on all local or overseas spending without required minimum or maximum spending
- Free shipping
- 100% purchase rebate for standard Spotify and Netflix subscription plans
- 10% back on Airbnb and Expedia
- The developers also offer access to LoungeKey airport lounges for select cards. The card owners can use them to get access to special shopping, dining and spa features, including partnerships with restaurants or bars. Finally, these cards should allow the owner to enjoy discounts on the bills for the use of these amenities.
- The cards should also be supported at any payment point claiming to accept Visa cards, including the estimated 40 million retailers.
- The customer referral scheme allows the cardholders to earn between 10 and 25 percent of transactions made by the person one manages to include in the scheme. The amount of accompanying bonuses is dependent on the balance tier of a particular card (see below).
MCO Visa Card Review And Comparison
Most people who download the Crypto.com app likely do so to get their hands on one of the highly coveted MCO Visa Cards. These cards offer a range of unique benefits for their users. The primary benefits – allowing users to access their coins with just a simple swipe and earning MCO tokens in return.
Have you ever imagined purchasing your daily shot of espresso from Starbucks with digital currency? Well, now you can. The primary goal of the MCO Visa Card is to provide increased accessibility to cryptocurrency accounts, allowing users to spend them on everyday purchases.
Crypto.com offers a range of MCO Visa Cards, including the aesthetically pleasing (but plastic) baseline Midnight Blue card, which requires no stake whatsoever to acquire.
Let’s review each of the Crypto.com Visa Cards and take a close look at each of their benefits.
Midnight Blue MCO Visa Card (Free)
The Midnight Blue Visa Visa Card is available right away with no MCO stake required, allowing you to enjoy 1% MCO rewards on all card spending. You will have an ATM withdrawal limit of $200 USD and an perfect interbank exchange rate limit of $2,000.
Ruby Steel MCO Visa Card (50 MCO Stake)
As the name implies, the Ruby Steel card comes in a refined reddish hue. You will need a 50 MCO stake to apply for this card. Benefits include 2% MCO rewards on all card spending, a monthly withdrawal limit of $400 USD, interbank exchange rate monthly limits of $4,000 USD, and to top it all off, the card is made of composite metal.
Jade Green or Royal Indigo MCO Visa Card (500 MCO Stake)
This tier provides 3% MCO rewards on all card spending and requires a 500 MCO stake. These two wonderfully vibrant cards have the same benefits and limits. They’re simply offered in different hues to please those looking for a unique aesthetic.
Benefits include LoungeKey™ Airport Lounge Access for the cardholder, a no-fee ATM monthly withdrawal limit of $800, an interbank exchange monthly rate of $10,000 USD, and a card made of composite metal.
Icy White or Rose Gold MCO Visa Card (5,000 MCO Stake)
You could say this is where the rubber meets the road in terms of impressive card benefits. That said, the increased benefits of the Icy White and Rose Gold Visa debit cards come at a price (literally).
You need a 5,000 MCO stake to apply for this card. Benefits include 4% on MCO rewards on all card spending, LoungeKey™ Airport Lounge Access including one guest, a no-fee ATM monthly withdrawal limit of $1,000 USD, an interbank exchange rate monthly limit of $20,000 USD and a card composed of composite metal.
Obsidian Black MCO Visa Card (50,000 MCO Stake)
For the true high rollers, there is the Obsidian Black Visa Card. You will need a whopping 50,000 MCO stake to apply for the card. It offers 5% on MCO rewards on all card spending, LoungeKey™ Airport Lounge Access plus one guest, a no-fee ATM monthly withdrawal limit of $1,000 USD, and an unlimited interbank exchange monthly rate, and a card made of metal composite.
MCO Visa Card Comparison
Additional benefits of holding a stake-required MCO Card include rebates on entertainment services such as Spotify, Netflix, Expedia, and Airbnb. Additionally, the card details mentioned in the section above reflected “staked benefits.” We’ll get more into staking in a bit. For now, here’s an overview to help clarify the numerous benefits presented by the various MCO Card tiers:
Here are the details for non-staking benefits. As you will see, the percentage of “MCO Rewards on ALL card spending” is lower for each tier (except for Midnight Blue):
The staking period required to order a metal card is six months, and you’ll have to continue holding MCO tokens to maintain the staking-benefits, which will otherwise drop significantly, as shown in the picture above. You’re also required to deposit the funds that will be used on your card. However, Crypto.com does not charge monthly fees or require minimum balance requirements, and you can cash out at any time.
For those eager to sign-up to the app, feel free to use the Crypto.com referral code hj8kfw2dgv(copy the code without spaces) to receive a $50 USD equivalent free sign-up bonus in MCO tokens.
How: Insert the promo code during installation of app .
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