What is Crypto.com?
What is Crypto.com?

What is Crypto.com?

Which features are in the MCO Visa card included?

IMPORTANT MCO UPDATE 04.08.2020:
YOU MUST SWAP YOUR MCO INTO CRO BEFORE November 2nd, 2020
after the November 2nd, 2020 MCO from Crypto.com is GONE. PLEASE DON’T GET SCAMMED SWAP MUST HAPPEN in the crypto.com APP only the APP!!! all Information regarding the MCO Swap Program > LINK

new $50 bonus after staking 1000 CRO code > mypwaua5w2

UPDATE 05.08.2020:
Updated CRO Stakinglist

Note: I will make an update about Crypto.com as soon as the new cards are out!

crypto.com europe + uk
crypto.com

Crypto.com is now finally shipping its MCO Visa cards in the UK & EU (in addition to US)! People have been reporting the arrival of their cards in UK and all over Europe. I think it’s the best rewards card available now :)

Free Netflix, Spotify + 1–5% cashback on all purchases + $50 bonus and more

I’m very enthusiastic about Crypto.com myself and all the products they offer even if right now the cards in EU/UK are not working because of wirecard.
I try to explain here why as clearly as I can.

crypto.com logo
crypto.com

What is Crypto.com?

Crypto.com offers an app with which you can easily buy and sell cryptocurrencies without additional cost, an MCO debit visa card without fees, and a wallet with up to 12% interest rate.

CEO of Crypto.com Kris Marszalek

Kris Marszalek leads the long term strategy and development of Crypto.com including the Crypto.com Wallet and Card App and the MCO Visa Card. Crypto.com is building a large global blockchain financial institution.

The company exists since 2016 (back then under the name Monaco, hence the MCO abbreviation) and is Headquartered in Hong Kong.

Crypto.com headquaters.

With now more than 2 million users

crypto.com twitter
twitter.com

Next to trading within the app, you can also get an interest rate on your cryptocurrencies up to 12% (complete overview here), similar to the likes of Celsius and BlockFi.

Which features are in the MCO Visa card included?

Through their app Crypto.com also offers the MCO Visa card. This is a debit Visa card tied to the MCO cryptocurrency. There are 5 different card tiers and you get:

  • a metal card (except the free tier)
  • no monthly fees
  • $50 bonus when applying for the card (except the free tier), which you can cash out immediately
  • Cashback up to 5% on all purchases made with the card (realistically up to 3%)
  • 100% cashback on Spotify each month (all except free tier)
  • 100% cashback on Netflix each month (3rd tier and up)
  • Free access to airport lounges with the higher tiers

All cashback and bonuses are paid in the MCO cryptocurrency. You can immediately sell the MCO in the app for euros/dollars, which you can use again for purchases with the card if you want.

To get one of the non-free card tiers you need to buy MCO coin and stake them, which means holding on to them for 6 months. After the 6 months, you can sell them again at the then-current rate. The price of MCO is currently around €4 / $4.50, meaning that you have to lock €200 / $225 for six months to get the Ruby Steel card. You’ll earn this back in about 6 months (see below),

These are the lower three card tiers:

Calculation example payback time (6 months)

Below I’ve made an example calculation for the payback time of the Ruby Steel card, assuming a spend of €1000 / $1000 monthly with the card and that you use Spotify. After 6 months you will have earned back your initial investment :)

But, additionally you also the worth of your MCO coins that you locked for 6 months. Even if they would be worth only half of what they are worth today, you’d still have a value of €100 / $113 (see below about price expectation).

MCO price

The MCO cards have just been released for UK and EU and have been available in US since last year. Because especially in EU cashback cards are not common, I expect that lots of people would be interested in getting a cashback card like this one. The good thing about that is that the demand for MCO coin would increase (because people need to lock them for 6 months) and I expect that the price of MCO will rise then (there are only 16 million of them, less than Bitcoins).

No guarantees, this is my personal opinion :) I advise you to think about it yourself.

Notes

  • You can easily top up your MCO Visa card using a credit/debit card without any fees.
  • All bonuses and cashback are paid in MCO coin. You can immediately sell them through the app (minimum 4,5) for euros/dollars (in the near future for pounds as well). You can then spend these again with your card or withdraw to your bank account (minimum $100 equiv. but you can top up extra to get to the minimum).
  • SEPA Euro and ACH US bank transfers in and out of your Crypto.com account are free! GBP bank transfers are not possible right now since they’re switching providers. It should be possible again soon.
  • If you want to upgrade to a higher card level, the costs are €/$ 50 (unless your card hasn’t shipped yet)
  • If you want to cancel your card you pay €/$ 50, but only if there is still any money left unspent on the card.
  • Their support department is currently quite overwhelmed so it can take a few days before you get a response.
  • No cards for some months in EU/UK because of Wirecard's bankruptcy the card issuer of crypto.com but all funds are safe because they are not stored by Wirecard, Crypto.com is already transferring to a new card issuer.
    more info
  • Tip: if you use a Curve card you can use the ‘Go Back in Time’ feature to switch purchases from the last 90 days to your MCO card and get cash back for them!

I would appreciate it if you’d sign up through my link: https://platinum.crypto.com/r/mypwaua5w2 or use the code mypwaua5w2 in the app. You will also be eligible for the $50 bonus then.
Non-ref link (no bonus): https://crypto.com

IMPORTANT MCO UPDATE 04.08.2020:
YOU MUST SWAP YOUR MCO INTO CRO BEFORE November 2nd, 2020
after the November 2nd, 2020 MCO from Crypto.com is GONE. PLEASE DON’T GET SCAMMED SWAP MUST HAPPEN in the crypto.com APP only the APP!!! all Information regarding the MCO Swap Program > LINK

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