The maximum balance you can hold in your Crypto.com Visa Card wallet is S$5,000. however, if your MCO loses value in that 6 months (And who among us can honestly say they’re very certain that won’t happen), then that’s your implicit fee. The Pros of Using the MCO Visa Card. The cashback is paid out instantly in the form of … Maximum Reimbursement amounts: Spotify: US$9.99 equiv (monthly subscription fees), Netflix: US$12.99 equiv. However, they come with a major caveat: exposure to cryptocurrency. The card is currently available in most of Europe, the United States, and other countries. Not because the MCO Visa is a bad product, but because it’s being marketed to the wrong people. But you can simply top up your GrabPay account with your AMEX True Cashback card to earn 1.5% cashback and use GrabPay for all your bills via AXS m-station. Fees cannot be compared to staking MCO, which is optional anyway. Assuming you don’t want to stake any MCO, then your only option is the Midnight Blue MCO Visa with 1% cashback. It all boils down to what you believe the value of MCO will be in 6 months. the likes of MoneySmart, SingSaver etc are all swayed by which ones ‘sponsors’ their products…, It’s been working very well for me so far! Perhaps what’s most alarming to me is the complete lack of any caveats or cautions in these posts. Yep truth to be told, its a new experience. Should you moved your money into BTC at that time…, © Copyright 2021 The Milelion All Rights Reserved | Web Design by Enchant.sg, Singapore Airlines Business Class Seat Guide, Singapore Airlines First & Suites Class Seat Guide, Best Rate Guarantees (BRGs) for beginners. I did use it for trading, also for savings and for staking. Where’s the warning that crypto can fluctuate wildly on a daily, even hourly basis? I’m have a Jade Card (500 MCO Stake) and I would like to mention my review after personally using it. But now the stake amount is quite ridiculous as of this posting. It is a prepaid card made from high-end metal, free from any monthly or annual fees. I used mine all around Asia and i didn't have an issue untill I hit the 800usd limit. After all, it’s never a good sign when you read people writing stuff like this: I waited for a week for me to receive my card and it feels so GOOD and I was in ecstatic to use it. This used to be called MCO VISA card. The card is one of the company’s most popular offers. (standard monthly subscription – HD, 2 screens), Expedia: US$50 equiv, Airbnb: US$100 equiv. The higher reward tiers offer even more benefits. Crypto.com’s MCO Visa Card is widely seen as one of the better crypto debit cards available on the market today. Is it unfair to compare the stake to an annual fee? The MCO Visa Card range features high-end metal cards with no annual or monthly fees, an industry leading up to 5 percent cryptocurrency cashback on everyday transactions, airport lounge access for select cards, no fee ATM withdrawals, tap-and-pay functionality, and competitive interbank rates. each month (MCO: US$2,000). It allows customers to spend cryptocurrency in the real world wherever prepaid Visa cards are accepted, and avoid fees on overseas transactions and ATM withdrawals. The prepaid cards come with a number of benefits, including free ATM withdrawals, no monthly or annual fees, tap-and-pay … However, they’ve instead run them on sites with a lifestyle focus like Vulcan Post, City Nomads, Expat Living and The Travel Intern. Lol not all crypto is a scam.. and MCO is not a scam, but you need to realize the full spectrum of what you are getting into. The MCO Visa is a good product, for the right crowd. the free card doesn’t need investment in MCO, just use it like a debit card – no exposure to crypto if you don’t want to the 50 MCO card for free spotify costs about $250 now, at $10 per month, 2 years of spotify premium pays for itself already. The maximum amount you can spend from your Crypto.com Visa Card is S$30,000 annually, starting from Jan. 28-Dec. 31, 2020 and Jan. 1-Dec. 31 of each calendar year thereafter. This is referred to as “staking“. Although MCO Visa Cards have no setup fees, shipping fees or annual fees, the catch is you’ll need to buy and hold a certain amount of MCO for at least 6 months. To end off, I do think your analysis was very objective and extensive, so kudos to you for that. FAQs: help.crypto.com, Press J to jump to the feed. Where’s the warning that past returns may not be indicative of future results? MCO is a currency that fluxuates in value, so if you brought MCO at a high price to get your benefits but now the value of MCO has dropped, well that means you didnt do your research did you.. ? Read T&Cs for full details. But it is unwise to just judge on things that you dont simply understand or refuse to read and further to research on. For reference, here’s the historical price movements of MCO since launching in 2017: As of 22 October 2019, MCO trades at a price of ~S$5, down from an all-time high of S$29.85. The MCO Visa Card is a prepaid card offered by the Crypto.com platform. Wouldn’t it be nice if you could convert your crypto assets into everyday purchases and buy goods with bitcoin and other altcoins? As with other prepaid debit cards such as YouTrip, you have to top up monies into the card to use it, as opposed to a credit card where you settle the bill only at the end of the month. You can take it out after 6 months and still keep your card, lounge access and cashback. The issuing of the MCO Visa Card was suspended until Crypto.com found PayrNet as its new card issuer. What is the daily ATM withdrawal for MCO Ruby Steel Visa Card? MCO Midnight Blue Visa Card does not seem to have a set ATM … I will also mention Tips on how you can avoid losing money in case the MCO value does drop. MCO Visa Cards are currently available in the USA and Singapore, with five different tiers. your assumption with the returns on the 50 MCO card is that there’s no depreciation in MCO. re: free card- why not just get a revolut/youtrip instead, if the goal is to save… Read more ». Apart from a brief dalliance a couple years ago, I have little to no experience in the subject. He was 50% successful. That’s not a decision to be taken lightly, hence my belief that this card should only be considered by seasoned crypto users. Again, are you willing to risk that? Very good read. Subsequent withdrawals and transactions beyond the free limit attract a 0.5% and 2% fee for both the MCO Visa and Revolut, Unlimited Priority Pass visits for principal cardholder + 1 guest, Unlimited LoungeKey visits for principal + supplementary cardholder, Unlimited Plaza Premium lounge visits for principal + supplementary cardholder, Unlimited Priority Pass visits for principal cardholder. I forgot about it and than I was charged a 2p fee. ATM fees are a nightmare for most credit/debit card users. It comes with unlimited 1%-5% instant rebate on all spend, 100% rebates on Spotify and Netflix, and if you like, expose yourself to the wider MCO crypto ecosystem. It would be one thing if they ran these posts on crypto-focused blogs and publications. Select companies have better cash back rewards which include Netflix, Spotify, Expedia, and Airbnb. Singapore Customers Start Receiving MCO Visa Cards From Crypto.com, MCO Coin Surges Following the News. That said, the transaction fees are exorbitant. MCO Visa card also supports “tap-and-pay functionality” and allows easy access at airport lounges for selected … But maybe im missing something? So it seems there has been a change and it is now even more reasonable to get the Crypto.com Visa Card: https://medium.com/p/7523a929c275. Crypto.com Visa Card, formerly known as MCO Visa Card, is the world’s first free, metal, and crypto-linked Visa card. I think it’s a well-conceptualized product, and can appreciate how it bridges the gap between virtual and fiat currencies. MCO Ruby Steel Visa Card does not charge a fee for reloading your card. Yup, that’s really the main concern, that what’s clearly an investment product is being pitched as a lifestyle one, Ive been a MCO user for 1 year. Crypto.com has announced that MCO Visa Cards would start shipping to Singapore on October 22. MCO Visa monthly no-fee ATM withdrawals and transactions. If you have no idea what MCO is (and arguably, even if you do), you’re basically gambling. The Midnight Blue card can be obtained for free, while you will need to own MCO tokens if you want to get your hands on a MCO Visa card from the upper tiers. I think my objection is more about how it’s being sold as a lifestyle product without adequate disclosure of the risks involved, rather than the product per se. It allows cardholders to spend cryptocurrency in the real world wherever Visa debit cards are accepted. Well, now you can. The Travel Intern hypes up the MCO Visa by talking about the 10% rebate for Expedia/Airbnb bookings and free Netflix/Spotify subscriptions. With the whole Wirecard scandal in 2020, it has led to a lot of issues with the MCO Visa card. Out goes the Spotify, Netflix, Expedia and Airbnb rebates, and cashback drops to 1-2%. For this reason, we don't recommend it for daily use. I’m distinctly uncomfortable about the MCO Visa being positioned as a “lifestyle card” suitable for “deal-loving travelers”, as well as the lack of acknowledgement about the very real risks of holding cryptocurrency. Get a $50 sign up bonus in MCO (MCOs worth of 50 USD) when you stake 50 MCO. Monaco Card is a Visa-branded debit card that draws from a cryptocurrency-funded bank account. MCO Visa 金融卡是 Crypto.com 公司的旗艦產品。它和人們錢包內其它 Visa 卡的功能相同，持卡人到任何接受 Visa 卡的店家都能憑卡消費，也能到支援 Visa 卡提款的 ATM 領出現鈔。 最大的差異在於辦卡和回饋，都會與 Crypto.com 公司發行的 … Once you step up to the next tier of MCO Visa, your cashback rate goes to 2%. More importantly, there’s a very real risk that during this 6 month period, the price of MCO may move against you. That’s provided you’re currently staking, however. If your MCO position is underwater when your lock-in period ends, you either have to hodl, or accept a loss if you want your liquidity back. The MCO Visa card has already been launched in Singapore. The right crowd are people who are already into crypto and looking for an easier way to spend it in real life, while getting some additional perks along the way. If you need to go beyond that, the Premium version of Revolut still outperforms the next highest tier of MCO Visa. In recent months I’ve received a large number of questions about the MCO Visa, a crypto-backed prepaid card that offers rebates and travel benefits. That definitely will not happen to your MCO stake you might choose to get those extra benefits. Those are good features to be sure, but you could enjoy the same benefits with a product like Revolut without having to dabble in crypto and its associated risks. For me, however, that’s too big a risk to jump in. Where’s the warning that your staked amount might be worth a lot less after the lockup period? Well I did some research on the topic, and I’m concerned. With the Crypto.com Visa Card spend anywhere with no fees. They’ll also receive 1-5% cashback on all spending (in the form of MCO tokens), with higher tiers enjoying benefits like a 100% rebate on Spotify and Netflix subscriptions, a 10% rebate on … You mentioned that AMEX true cashback card does offer cashback for Grabpay wallet top up. I’d like to offer this in response to your article. Thanks for highlighting the issues, I was considering this for the free Spotify. Cryptocurrency investors will be well-used to this already. Now that could very well happen, and if so, good for you! I will also list some of the pros and cons that the author didn’t mention including how much money was actually gained during the course of my experience along with documentation. You’ll need to decide whether an incremental 0.5% cashback is worth the risks of staking, plus the inconvenience of buying crypto to top up the MCO Visa. I hope this article appears at the top of every MCO Visa search on Google. Press question mark to learn the rest of the keyboard shortcuts. Aaron founded The Milelion with the intention of helping people travel better for less and impressing chiobu. Most users get impacted by the daily ATM withdrawal limit of £500. I see it as a way for those already into crypto to spend it more easily while enjoying some rebates and travel benefits. Thank you for your analysis. Third, to say that “cryptocurrencies value higher the more people purchase a stake in it” is to basically endorse a bubble. New comments cannot be posted and votes cannot be cast, Crypto.com is the best place to buy, sell, and pay with crypto. In this review, we will go through the CRO Visa Card and give you a referral code where you will have the chance to grab $25 FREE. https://link.medium.com/7pbLdX8d10, Yup someone pointed me to it! Panuorin kung successful ba ako sa aking 1st ATM withdrawal!! All MCO Visa cards offer a cashback bonus that ranges from 1% to 5%, depending on the card you have. And spend it to get the additional MCO rebate 3% with All spend (even spend on 1 dollar 7eleven orange juice, bills, fave pay, overseas, any currency overseas with no fee, instant live rate convert, muahahahaha) This is good for people who like to grab cheap thing, in long term. Remember, all it takes is a small movement in the price of MCO to wipe out whatever savings you may have gained. Most articles don’t go enough in-depth, and oversimplify rather than be concise and accurate. Now that’s really a major jump and reckon a very hard pill to bite. I do, however, have issues with how the MCO Visa is being marketed. At this point of writing, it seems to only be available in most parts of US, Singapore and some parts of EU. Nowhere is it mentioned that the “free” Netflix requires staking 500 MCO (S$2.5K), the 10% rebate on Expedia requires staking 5,000 MCO (S$25K), and the 10% rebate on Airbnb requires staking a whopping 50,000 (S$250K) MCO. CRO is the other native currency by Crypto.com. I mean, it’s just the cost of a plate of chicken rice! Thanks, and I agree on that point. I hope we all dont quickly judge on things that we dont understand. Would I risk a quarter of a million dollars for a 10% rebate on Airbnb? All MCO Visa cardholders enjoy a certain amount of no-fee foreign currency transactions and ATM withdrawals each month. Oh and talking about the sponsored posts concept, this is actually a bigger issue, cos that is what has been happening for several years already – e.g. On the surface, the card sounds like a great travel companion. MCO Midnight Blue Visa Card does not charge an activation fee. ATM Fees. When registering, use the code: hs3qceqnd8. They’ll also receive 1-5% cashback on all spending (in the form of MCO tokens), with higher tiers enjoying benefits like a 100% rebate on Spotify and Netflix subscriptions, a 10% rebate on Expedia and Airbnb, and unlimited airport lounge access via LoungeKey. However, I do think there is an opportunity for the average user, whereas your title suggest otherwise, hence I wanted to cover that aspect. Let me preface this by saying I’m no cypto expert. I received my $20, but was only charged $20 in the app. The Travel Intern talks about how the MCO Visa offers up to 5% cashback on all spending (never mind that the 5% tier requires you to spot a quarter of a million dollars), and how this is better than other cashback cards which may only award cashback for certain merchants. After I have invested 3 month term of CEO. Not much to comment on this. Let’s assume you went with the Royal Indigo/Jade Green card, the cheapest version with this benefit. MCO Ruby Steel Visa Card does not charge an activation fee. For now if you swap your MCO now to CRO u get a 20% bonus and that nice on a short term earn. My point is to say that if you really wanted an unlimited lounge pass, there are safer ways to get it. The MCO Visa card has always boasted a … Take this one by The Travel Intern for example. The Travel Intern highlights the unlimited free airport lounge access that comes with the MCO Visa. Bitcoin at 40,000 seems to disagree with you. Even the lowest tier is 5,000 CRO or approx $1,170 to… Read more », Boy, this didn’t age well at all. If you’re not well-versed in the credit card market, the perks offered by the MCO Visa may sound enticing. You will not be able to make any local ATM … You’re hoping that MCO appreciates or stays the same over the next 6 months, so at the end of it you can cash out and retain a free unlimited lounge pass for life, plus get some free Netflix and Spotify along the way. In June 2017, the Hong Kong-based company successfully launched an Initial Coin Offering (ICO), collecting nearly … Could i ask how, I’ve had my card since February and thinking of taking the next level up as it’s working great. What’s more, these rebates come with caps, which makes your upside limited, but your downside unlimited. But that’s the point- if you’re like me (and I’d hazard that most of the general public is), you absolutely should not be touching a product like the MCO Visa. Get up to 45,000 miles with $9K spend in first 3 months, Get up to 28,500 miles and a Shangri-La staycation with $5K spend in the first 3 months, Get up to 87,500 miles with $20K spend in first 6 months, Get up to 23,300 miles and a Conrad staycation with $3K spend in the first 3 months. Yes, it’s true that insurance premiums and government services transactions won’t earn cashback on the SCB or Maybank cards, and although they will on AMEX, acceptance isn’t as widespread. Let’s go point by point and try and give a fuller picture, coming from the point of view of someone who isn’t currently invested in crypto. Other cards on the markets charge you excessive amounts of fees for similar services. Can someone from the team confirm, that even if the ATM operator charges a fee, that it will not be charged from the user? No one knows the value after six months. Crypto.com offers five tiers of MCO Visa cards that feature no annual or monthly fees, 100% rebate on Spotify, Netflix and Amazon Prime, airport lounge access for select cards, no fee ATM withdrawals, tap-and-pay functionality, and competitive interbank rates. Moreover, I am getting 6% interest from the ‘EARN’ feature every 7 days (50 MCO staked). Does MCO Ruby Steel Visa Card charge an activation fee? All MCO Visa cardholders enjoy a certain amount of no-fee foreign currency transactions and ATM withdrawals each month. The MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, airport lounge access for select cards, no-fee ATM withdrawals, tap-and-pay functionality, and no foreign transaction fees. There is so much to unpack here. If the need for cold, hard cash arises, the MCO Visa Card also lets cardholders withdraw money from ATMs with no extra fees. Now I facing issue on withdrawer of my deposit. When it comes to a cryptocurrency card, Coinbase has some great features. No, and neither should you. However, you will have to be prepared to stake MCO, which shows the volatility typical of cryptocurrencies. Keep in mind, you’re not writing for crypto enthusiasts who know the risks and rewards of the game. What used to be for Jade tier 500 MCO stake ($3000 give and take average) is now a 50,000 CRO stake ($11,700 approx). Just get a cryptocurrency MCO Ruby Steel Visa Card does not seem to have a set ATM withdrawal limit. MCO Visa Cashback rates- with and without stake. Highly recommend. This is higher than the local earning rate for any cashback card (AMEX True Cashback gives 2.5% cashback on all foreign currency transactions till 30 June 2020), but that’s provided you continue to stake. It’s also becoming one of the best cryptocurrency exchanges for trading, here we will review Crypto.com card and … The MCO Visa Card offers some of the best cashback rates—paid in cryptocurrency and redeemable in cash. My guess is that when it gets rolled out gradually to other parts of the world, it will only make sense that the currency will appreciate.
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