MCO Card Review | Crypto Metal Visa Card Review

Cryptocurrencies are a form of payment that you can exchange for buying online goods and services. Nowadays, cryptocurrencies have become popular among the masses. You can’t buy clothes or groceries with cryptocurrencies; you can make offline and online purchases with these MCO Visa cards. Read this MCO Visa card review further to know about the benefits of the MCO (crypto.com) Visa cards.

Summary (TL;DR)

• The MCO Visa card is a Crypto-powered Visa card. It supports a wide variety of cryptocurrencies.  
• This MCO (crypto.com) visa card allows you to stock, transfer, and exchange 100+ cryptocurrencies like Bitcoin and regional currencies like GBP, E.U.R., USD, etc.
• With this MCO Visa (Crypto.com) Card, you can make purchases with cryptocurrency anywhere in the world where Visa usually is accepted.
• To get an MCO Visa card, you have to start staking CRO tokens for 6 months compulsorily. Staking is a process of buying and keeping the CRO tokens. CRO tokens are the Crypto.com Coins. Exception: You can freely use the magic Blue MCO Visa card without staking up C.R.O. tokens.
• Depending on the type of MCO Visa card, you get access to rewards, facilities, and cashback ranging from 1% to 8 %.
• You can track all your MCO visa card transactions in Crypto.com App.
• This MCO Visa card is valid for 4 years.
• You can upgrade your card tier anytime for a charge of about 50 USD, including the locking period.
• This Visa (crypto.com) card is available in the U.K., Europe, the United States, Canada, and Singapore.

What is MCO Visa Card?

The MCO Visa card is a prepaid metal card by Crypto.com. Crypto.com (formerly Monaco) is a Hong Kong-based start-up, launched in 2017. It raised about 26.7 Million dollars approximately in 2017 through an ICO (Initial Coin Offering). This MCO Visa card allows its holders to spend cryptocurrency in the real world wherever Visa debit cards are accepted. 

How does the MCO Visa Card Work?

MCO Visa cards are available freely; you don’t need to pay any price for shipping or the setting up processes. However, to avail the benefits of the MCO Visa card freely, you have to stake a certain amount of CRO tokens on Crypto.com App for 6 months. CRO is a token created by Crypto.com, and many cryptocurrency exchanges have listed CRO. After 6 months, you can unlock your CRO stake or sell them. Midnight Blue is the only primary card that you can access freely. After staking CRO, you can use and reap the benefits of higher-tiered cards. 

How to start staking CRO Token?

You have to start staking CRO tokens to apply for an MCO Visa card. So, download the Crypto.com App, then complete identification verification (KYC) and purchase CRO tokens in the app. After that, deposit them into the wallet. And stake them for 180 days (6 months).

Types of Wallets from Crypto.com

Crypto Wallet: To store Cryptocurrencies only. You can buy the cryptocurrencies through other cryptocurrencies, fiat wallets, credit or debit cards. You can also sell cryptos to exchange for other cryptos. 

Fiat Wallet: To store fiat currencies. You can transfer, Deposit, and withdraw fiat currencies. This wallet supports about 21 fiat currencies. Also, you can do only fiat currency exchange. But you can buy and store cryptocurrencies in the Crypto wallet. 

Card Wallet: To store a few fiat currencies only for the card. You can spend the fiat currencies from this wallet by using the MCO Visa card. Singapore dollar(SGD) is the only currency deposited in Card Wallet, but you can exchange SGD for other fiat currencies. Deposit is possible only through a Crypto wallet or credit/ debit card.  Currency withdrawal is made only by Visa card through A.T.M. transaction. 

Note: Even though both Fiat Wallet and Card Wallet store fiat currencies, you can’t use them exchangeably.  

MCO Visa Card Review: Deposit and Withdraw Money

Credit card: Set up an Xfers account. Connect the Xfers account to Crypto.com App. Then do credit card transactions from the Xfers account. 

Bank account: Create a EUR IBAN account through the Crypto.com app. Then you can transfer money from the bank to that account. 

To take your fiat balance from the Crypto.com app, you can transfer the money in the app to the Xfers account. And then send it to your Bank account. But a 0.04% of fees are applicable for the transfer. 

Types of MCO Visa Cards and Features

There are five different types of MCO Visa cards. Each card offers a set of benefits for the users. The amount of CRO, you are willing to stake a decision on the type of card you will get. The price of cryptocurrencies may fluctuate and differ. They calculated the price rate shown in the picture in October 2020 based on the exchange for C.R.O.,  (1 C.R.O. = S$0.200774.)

1. Midnight Blue

This entry-level card has free staking, but if you exceed 200 USD, a 2% A.T.M. withdrawal fee is applicable. You will get only a 1% CRO in reward. Your A.T.M. withdrawal is limited to S$5,000 per month. You can get an interbank exchange rate of up to S$2,000.

2. Ruby Steel

This red metal card offers CRO rewards on your purchases for up to 2%. It gives us a free monthly Spotify subscription for approximately US$12.99. You can enjoy a free interbank exchange rate of up to S$4,000. Top-up is limited to S$15,000 per month.

3. Jade Green/Royal Indigo

This Visa ( Crypto.com) card offers CRO rewards of up to 3%. You can top-up up to S$25,000 per month. A.T.M. withdrawal is limited to  S$800 per month, and 2% charges also apply. Free subscriptions of Netflix and Spotify for about S$12.99. ATM withdrawal is limited to S$10,000 per month. It is available in green and Indigo color cards. You can enjoy Spotify and Netflix for about S$12.99 per month each.

4. Icy White/Frosted Rose Gold

This card rewards us with 5% of CRO on our purchases. Top up price is up to S$25,000 per month. You can use Spotify, Netflix, and Amazon Prime at about S$12.99 for each, and you have access to free Crypto.com branded merchandise. Unlimited lounge access. The card comes in rose gold and white colors. Top-up is limited to  S$25,000 per month, and they are limited to the interbank exchange rate to S$15,000. You have 10% coverage of expenses like the Obsidian Black card.

5. Obsidian Black

It is a metal card in obsidian black color. This card offers us the maximum rewards of about 8% of CRO coins. A.T.M. withdrawal is limited up to S$10,000 per month. You can access a wide range of features related to Crypto like inheritance services, invites for top industry events. You have to pay 2% per year in CRO on a fixed deposit. You will get exclusive branded merchandise, Free access to 1,100 premium lounges in about 500+ airports worldwide. You can also accompany a person by the cardholder—travel perks like 10% coverage of expenses on Expedia and Airbnb. You can access unlimited interbank exchange rates.

MCO Visa Card Fee

The MCO Visa card (Crypto Visa card) is a very affordable card to use. It charges no insurance fee, and you don’t need to pay a monthly fee. There is no commission for your spendings. You don’t need to make a maximum or minimum Deposit also. You have to pay only the A.T.M. withdrawal fee merely. Even in that, there is a concession. 

Up to USD 200, you don’t have to pay any A.T.M. withdrawal fee. But above 200 USD, 0.2% you have to pay. It does not charge any foreign currency transaction fee.

MCO Visa Cards Review: Benefits

The benefits differ according to the type of card you have. If you have a primary or entry card, the free Midnight Blue will get only 1% cashback on all your spending. Each card offers some percentage of rebates on accounts like Spotify, Netflix, and Amazon Prime. Most of the MCO Visa card offers travel rebates of about 10% on Expedia and Airbnb. Cashbacks given range from 1- 8%. Although the rebates are great, you are still subjected to monthly pay. Some benefits are available only if you stake continuously. But you will have complimentary lounge access. But other rebates on accounts like Spotify, Netflix, Expedia, Amazon Prime, and Airbnb will be gone. If you stop staking, your cashback on all the spending will fall from 3-15%. To get most of the benefits from Visa cards, you have to bet.

MCO Visa Cards Review: Customer Support

If you have any doubts or queries, you can seek the help center or the live chat.

• Live chat: If you have any doubts or queries, you can clear them via the live chat option available in the ‘Support’ section of Crypto.com.  When you message your questions in the Live chat, they will instantly reply and help you. This live chat is a 24/7 service. 

• Seek Articles Help: On the same support page, there is a ray of articles. Read these articles to clear your doubts and also to get in-depth knowledge about the MCO card and the “Cypto.com” Website.

MCO Crypto Visa Card Review: Pros and Cons

Everything has its pros and cons. We have tabulated some of the advantages and disadvantages of using MCO Visa cards below. You can take a quick look at them in the table below and decide further.

Pros	Cons
This MCO Visa Card has no monthly maintenance fee.	You can unlock and access the highest rebates only if you stake a lot of CRO tokens.
They offer 24/7 customer support in case of any discrepancy.	MCO Visa (Crypto.com) cards give lower interest rates if we did stake up cryptocurrency deposits for 3 months.
Up to 1- 8% cashback can be availed, whenever you use your Crypto.com Visa Card. 1% cashback is available even without investing in CRO tokens.	Users have reported that there is a delay in the arrival of the Crypto.com Visa Card as it is not issued immediately after ordering, sometimes the delay is for months
You can also get other benefits (like 100% cashback on Spotify, Netflix, and Amazon Prime).	No automatic exchange of cryptocurrencies for fiat ones. You should have exchanged it beforehand.
No withdrawal or transaction charges for international travel purchases.	If you already have high cash back in your traditional debit/bank card, this MCO card will not satisfy you.
It is a user-friendly card for beginners stepping into the cryptocurrency world.
Contactless Visa Debit cards (issued and delivered for FREE)

MCO Crypto Visa Card Review: Conclusion

MCO Visa cards can easily make our life convenient and straightforward. It allows us to bridge the gap between fiat and virtual currencies.  You can quickly go for it if you have good knowledge about the cryptocurrency-related market. If you are a first-timer, make your investment on the cards carefully as crypto markets are unpredictable. To sum up, the MCO ( Crpto.com ) cards are the best option for people who frequently travel and those who want to access the currencies of that country easily. It does not charge for Foreign currency Transactions. 

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