What is the CRO / MCO* Visa Card by Crypto.com? MCO* is touted as the world's first free metal crypto-linked Visa card, with up to 5% cash-back, airport lounge access, as well as other benefits and features.
MCO gets its name from Monaco, rebranded as Crypto.com, a payment and cryptocurrency platform operating its own, native currency (MCO) which has very recently been replaced* with the CRO token.
While Crypto.com has not yet changed the Monaco / MCO branding on its platform and products, CRO is the premier token of Crypto.com and its Crypto Visa cards.
***Please note the following:
that Crypto.com is encouraging MCO holders to swap to CRO. This is because the Crypto.com ecosystem will use specifically one token (CRO), instead of two separate tokens, but facilitating combined functionality. Therefore, functions attributed to MCO will be maintained, though functionality will be more comprehensive and represented by the CRO token. Click here for more info.***
The platform additionally offers a mobile wallet app for buying/selling/spending cryptocurrency, plus credit/loan services.
Crypto.com's / Monaco's* Metal Visa cards, which are backed by cryptocurrency and require certain amounts of CRO -- formerly requiring MCO coin*, which in October 2020 will no longer be supported by the platform -- to be held respective of the card tier-selection, come with basic card features, cash-back programs, and zero annual fees. The user’s cryptocurrency holdings basically back his or her card.
Although Monaco offers 5 different card selections, this article outlines 3 of them below: Midnight (Basic), the Icy White/Rose Gold (2nd most prestigious option), and the Obsidian Black (most prestigious option) MCO Visa cards.
As with common reward programs available with standard credit cards, the CRO / MCO* card offers cash-back savings on spending. It also offers interbank exchange rates with no overseas fees. What's more is that the card allows for free withdrawals from ATMs across the world plus airport lounge access and the ability to invite guests. These are attractive features, especially for frequent flyers and other travelers.
While Crypto.com is confident that the savings it facilitates to its users are superior to that of traditional banks, the platform moreover endeavors to help bridge the crypto-finance and traditional banking gap.
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[Source: Crypto.com]
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