A Review of MCO Crypto Card- All You Need To Know
Today we are doing a full Crypto card review. If you have been in the cryptocurrency space for a while, the name Crypto.com would have become popular to you now. It is one of the entities that are dedicated to boosting the adoption of cryptocurrencies in the real world.
Despite their usefulness, Crypto.com remains unknown to people outside the cryptocurrency sphere. This review will touch everything about Crypto.com, who they are, the services they offer, their debit cards, and other crucial information.
Crypto Card Review
Crypto.com is a cryptocurrency entity owned by Monaco, a company dedicated to bridging the gap between the crypto and banking worlds. Crypto.com is trading, investment, and wallet app with a wide range of products that promote the real-world adoption of cryptocurrencies on a global scale.
The main selling point of the platform is its MCO Visa Card. However, they offer other products such as the Crypto Wallet App, which is loaded with some cool features like Invest, Earn, Pay, and Credit (Borrow).
As a cryptocurrency entity, Crypto.com also has its digital currencies. The platform uses two cryptos, the MCO and CRO coins. Each of them serves different purposes, but they are designed to make it easier for people to buy, sell, store, and transfer funds via cryptocurrencies and fiat currencies.
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- Spend your crypto anywhere major payment cards are accepted
- Earn interest on your stored crypto
- Cash back rewards for everyday shopping
- Benefits and rebates for when you use Spotify, Netflix, Amazon Prime, Expedia and more.
- High ATM withdrawal limits available
- Price of CRO token is not stable and vulnerable to price adjustments
- The best value cards have high monthly fees
- Ongoing CRO stake is required for decent rewards
- Card is not designed for everyone. Only the true crypto enthusiast might appreciate this.
What is MCO Crypto card?
Most cryptocurrencies are not accepted in many places.
MCO payment card is the solution to this problem. With mco cryptocurrency payment card, you can pay with your favorite cryptocurrencies anywhere credit cards are accepted.
With this product, you will no longer need to convert your digital assets into fiat money in order to make purchases. You can now conveniently access your funds by swiping the MCO crypto card wherever Visa is accepted without having to withdraw from an exchange platform first!
This makes spending and converting easy for anyone who wants more freedom when managing their finances.
The Crypto.com Coins
There are two tokens available that work with your MCO payment card. Crypto.com originally started with the Monaco coin then introduced the CRO coin as an airdrop for the MCO holders. Approximately 170 million CRO tokens were airdropped based on their MCO balance. The airdrops have since been halted due to unclear regulatory framework.
This is the primary token of the company, Monaco. The MCO token is linked with various services on the platform like the Credit service, access to cards, staking, and credit rewards. It was the original token of Monaco and continues to serve various uses within the ecosystem.
CRO is the cryptocurrency of the crypto.com chain, the crypto.com blockchain. The token serves as a cross-asset intermediary currency settlement token. It is used to settle transaction fees on the crypto.com network. Furthermore, network nodes are rewarded with this token for their efforts in maintaining the blockchain. Customers that pay for goods and services directly with the CRO token get lower transaction fees.
The crypto.com platform offers various features to its users. Here are the numerous services you can enjoy on this platform.
Crypto.com has a crypto exchange where you can trade various digital currencies. The market on three leading coins, BTC, USDT, and CRO. Users can trade multiple cryptocurrencies like ETH, LTC, XRP, ATOM, MCO, EOS, XLM, and more against the three major currencies. As a crypto exchange, the market operates 24/7 and comes with several trading tools to make it easier for people to use.
Crypto.com also has a wallet app where users can purchase and store various cryptocurrencies. On the wallet, you can buy and sell seven fiat and 53 cryptocurrencies. Users can also access, manage, and spend their funds with the MCO Visa Card anytime on this platform.
For the fiat currencies, you can top them up via your bank account, credit or debit card, or a few cryptocurrencies. For the cryptocurrencies, you can purchase them using fiat wallet or a credit card. Using the app, you can send cryptos to other crypto.com users instantly and with no fees attached. You can also withdraw your crypto from this wallet to external wallets addresses like Ledger and Trezor.
An exciting feature of the mobile app is that it allows you to track the price performances of over 200 coins. You can see the change in prices, volume, market cap, and more. Finally, you can enjoy multiple rewards when you consistently use the mobile app.
Perhaps, the most attractive feature of Crypto.com is the Visa debit card they issue to users. The debit cards are loaded with cryptocurrencies but can be used to pay for goods and services on thousands of stores globally. Goods news, the cards are now available to US residents. Let’s take a look at the various debit cards available to users.
This is one of the best cards available on Crypto.com. It has a 5% back on all spend in MCO rewards. You can use the card on platforms like Netflix, Spotify, Amazon Prime, and more and get 100% back. For Expedia, it is only 10%. It also has Private Jet Partnership, Airport Lounge Access with an extra guest, and no ATM withdrawal fees up to $1,000 and 2% afterward. MCO coins staked on this card is 50,000. The interbank exchange rate here is unlimited each month.
Frosted Rose Gold and Icy White
These two cards have similar features. The minimum MCO coins staked here are 5,000. There is a 4% back on all spend in MCO rewards. Similar to the Obsidian card, you can use these cards on sites such as Netflix, Spotify, Amazon Prime, and a few others and get 100% back. Also, you only get 10% back for Expedia. You can earn bonus interest with these cards, but there is no Private Jet Partnership. However, you get to enjoy the Airport Lounge Access with an extra guest. Also, there are no ATM withdrawal fees up to $1,000 and 2% afterward. Interbank exchange rate monthly limit on these cards is $20,000 and 0.5% after that.
Royal Indigo and Jade Green
The minimum MCO staked for these two cards is 500 coins. They have a 3% back on app spend in MCO rewards while they get to use the cards on only Spotify and Netflix and get 100% MCO rewards. Users get to enjoy the Airport Lounge Access, and no ATM withdrawal fees up to $800, with 2% charges afterward. For these cards, the interbank exchange rate monthly limit is $10,000 and 0.5% after that.
The Ruby Steel card has a minimum stake of 50 MCO tokens and 2% back MCO rewards on all card spending. The 100% MCO rewards here applies to only Spotify. The free ATM withdrawal applies only up to $400, with 2% charges afterward. For Ruby Steel, the interbank exchange rate monthly limit is $4,000 and 0.5% later.
You don’t need to stake any MCO coins before you have access to this card. It has a 1% back MCO rewards on all card spending. The free ATM withdrawal for Midnight Blue card applies only up to $200, with 2% charges afterward. Meanwhile, the interbank exchange rate monthly limit is $2,000 and 0.5% thereafter.
Other Crypto.com Features
You can make up to 8% per annum for regular cryptocurrencies and 12% per annum for stablecoins when you invest in this platform. The staking starts with 50 MCO tokens, with interest given according to the duration of stake. The tokens in crypto to earn include; Bitcoin, Ethereum, Binance Coin, DAO, Litecoin, XRP, Chainlink, MCO, PAX Gold, XLM, Cosmos, and more. For stablecoins, you can invest in TrueUSD, Paxos Standard, USD Coin, and Tether (USDT).
You can get an instant loan when you deposit cryptocurrencies on Crypto.com. The credit will be sent directly to your cryptocurrency wallet, and you can pay back whenever you wish. When you deposit $10,000 in cryptos such as MCO, BTC, ETH, XRP, and LTC, you receive a credit of $5,000 in PAX or TUSD. Basically, you are given 50% of your deposit as a credit. When you stake MCO tokens on the platform, the annual interests you pay on any loan is slashed from 12% to 8%.
You can pay for products and services using cryptocurrencies with Crypto.com. You can shop for things and pay in cryptocurrency with a lower processing fee compared to what you would get with the traditional credit and debit cards. As a merchant, you can also register with the platform to integrate cryptocurrencies into your payment system. This way, you can easily accept payment from crypto enthusiasts around the world.
Crypto.com is one of the leading platforms striving to bring the cryptocurrency space closer to the world. Their wide range of products and services makes it easier for people to use cryptocurrencies in the real world.