The Essential Guide to the MCO Visa Debit Card from Crypto.com

Get up to 8% cashback on all spend, 12% p.a. interest, free Airport Lounge Pass, Amazon Prime, Netflix, Spotify — and quite a lot more…

[Article updated on 3rd May 2021]

Ruby Steel and Jade Green MCO Visa Debit Cards from Crypto.com

In this article, I will tell you:

  • What the Crypto.com MCO Visa debit card is
  • How to find the right card, based on your monthly spend and requirements
  • How to make additional money from the card
  • How to add additional features that aren’t natively supported
  • How to get the card

For more information about the card, please refer to the official guide by Crypto.com.

What is the Crypto.com Visa Debit Card?

  • A prepaid Visa Debit card, provided by Crypto.com (they are a leading Cryptocurrency company)
  • You can load and spend fiat (e.g. AUS, CAD, EUR, GBP, SGD, USD), no need to buy and hold any cryptocurrencies
  • No annual fees
  • Cashback from 1% — 8% depending on which card you choose
  • Incentives including free Airport Lounge Pass, Amazon Prime, Netflix and Spotify
  • ‘Prepaid’ means you must load money onto it, as it isn’t linked to a bank account. It also means that it doesn’t appear on a credit score report

What are the Incentives?

The list of cards and their incentives are listed here, screenshot below:

Card benefits and rewards

The card (and rewards) you get depends on how much CRO you stake. CRO is a Cryptocurrency created by Crypto.com.

Staking means you give money to Crypto.com and forget about it, you can’t get it back before the staking period has expired. The value of the stake can go up or down.

The entry tier gives you a card for free and 1% cashback.

For the other tiers, you must stake an amount of CRO for a minimum of 6 months. After the 6 month period, you can keep your money staked and keep all the benefits, or withdraw your stake and the benefits you receive will be reduced.

Staking requirements for each card (6 month minimum term)

Note: Later in this article I use the USD values.

Staking Benefits

Crypto.com aren’t very good at marketing, sometimes you have to hunt around for information. For example, you have to go to their CRO — Staking Benefits page to see:

CRO Stake Rewards: Receive CRO at 10% p.a. for 50,000, 12% p.a. for 500,000 and 5,000,000 tiers while these CRO are staked.

This means that although the staking costs of the higher-tier cards are high, with the staking, cashback and other benefits, you will get make your money back on the staked amount within 5 years — then continue earning interest (profit) from then on.

Cashback

Cashback is based on all purchases and is given as CRO.

You can:

  • Keep it as CRO
  • Convert it to a fiat currency (e.g. CAD, EUR, GBP, SGD, USD)
  • Convert it to another cryptocurrency
  • Stake it with the Crypto.com Earn or Crypto.com Exchange for up to 10% p.a. interest

Managing the Card

All card based activities are managed from the Crypto.com app on Android / iOS. These include:

  • Registering for a card
  • Staking
  • Upgrading and downgrading between card tiers
  • Messaging customer support
  • Adding money to the card
  • Checking the card balance
  • Viewing the card's PIN
  • Managing CRO (viewing cashback earned, converting to another currency, moving it to the Earn feature)

Which Card Should I get?

The card you should get depends on 3 factors:

  1. Your expected yearly spend (on debit/credit cards)
  2. The rewards you will receive (how will they offset your current expenditure?)
  3. The amount of time you would be happy to wait to ‘break even’ on your stake (because it’s locked away for the duration that you keep the card and all benefits, which could be forever). Once you get past this break even point, you’re into pure profit

Use this spreadsheet I’ve created to help decide which card is best for you.

My thoughts on each card tier:

Free Tier (Midnight Blue)

Is great for people who want to try the service and build up the required credit to pay for the Ruby Red.

Note: Only use this if you can transfer money from your bank into Crypto.com, if you buy and sell CRO (or another currency) to add funds to your card, you will eat up the 1% cashback offered in the buy/sell spread

$400 Stake (Ruby Steel)

This is the one I recommend for most people, it’s the one I started with.

It has a low-cost requirement with 2% cashback on everything and free Spotify. You will likely break even on the stake price within a year.

$4,000 Stake (Jade Green / Royal Indigo)

This card is a good long-term investment and is the one I currently have.

Remember to use my spreadsheet to help decide which card is best for you.

The additional 1% cashback and Netflix subscription over the $400 level card might seem good at first glance, but for this you will stake an extra $3,600. For most people, this clearly isn’t worth it as you could earn more by earning interest on the $3,600 (in Crypto Earn, Crypto Exchange or Crypto.org).

However, what isn’t well advertised you will earn 10% p.a. on your CRO stake. You could then re-invest this interest at 8%–10% p.a.(in Crypto Earn, Crypto Exchange or Crypto.org), to significantly reduce the time it takes to break even on the initial stake.

The 3% cashback will further reduce the break-even time (dependent on how much you spend), as will use of gift cards via the Pay feature and realised savings if you already pay for Spotify or Netflix.

Plus this card level gives you +2% interest in the Earn feature.

$40,000 Stake (Icy White / Frosted Rose Gold)

You will earn 12% p.a. on the $40,000 stake, which is $4,800 per year (paid in CRO).

You will receive a bonus interest of +2% on non-CRO deposits in the Earn feature. This is useful if you want to diversify your portfolio, whilst still making a good return.

You will also get discounted rates when trading on the Exchange.

You can save up to $50 per month with Expedia (not a significant amount, but it’s worth noting).

The 5% cashback on all spend is very good.

$400,000 Stake (Obsidian)

As with the $40,000 stake, you will get 12% p.a. interest which is $48,000 per year (paid in CRO) and everything else in that tier, as well as a whopping 8% cashback on all spend!

How to Claim your Free Amazon Prime, Netflix and Spotify Rewards

It couldn’t be easier, just pay for these services on your CRO card and you’ll automatically get reimbursed up to this amount for each:

  • Amazon Prime = $12.99 USD equivalent
  • Netflix = $13.99 USD equivalent (standard monthly subscription — HD, 2 screens)
  • Spotify = $12.99 USD equivalent (monthly subscription fees)

What if I want to Upgrade or Downgrade the Card?

To upgrade your card to a higher tier, you just need to stake the required amount for 6 months. To do this, select the ‘upgrade’ option within the app and follow the instructions.

Downgrading can mean 2 things:

  • Withdrawing your stake (after the initial 6 month lock-in). In doing so, your rewards will be reduced (see the table below). You can get your rewards back by staking again
  • Downgrading to a lower tier is pretty cool, because you get to keep the physical card and some of the rewards you have from your current tier! Contact Crypto.com support for details
Non-staking benefits of the CRO Visa Debit card from Crypto.com

Additional Cardholders

Currently you can only have one card per person. You can’t request additional cards for partners, etc.

How to Make Additional Money from the Crypto.com Card

  1. If you haven’t already got one, order a Curve card now and get £5 GBP. Use a Curve card in conjunction with the Crypto.com card to get extra benefits
  2. Pair the Crypto.com card with a Curve card to get rewards from both Crypto.com and Curve, when you spend! Curve allows you to get cashback from select retailers, this is in addition to the cashback that Crypto.com gives you!
  3. If you already have a Curve card, you can ‘go back in time’ i.e. change the card you paid with for up to 90 days You can use this function to get cashback via your Crypto.com card on purchases you have made even before you got the Crypto.com card!
  4. As stated earlier, you will get monthly reimbursement for Spotify at $12.99 USD equivalent. If you like, you can use this towards the Spotify family package which is for up to 6 people — enjoy up to 6 Premium accounts at £14.99/month
  5. Put your cashback to work — up to 10% APR if you invest it in CRO in the Crypto.com Exchange
  6. Canada and USA only: For passive income when you spend at some retailers, register your card with Drop
  7. UK only: For passive income when you spend at some retailers, register your card with AirtimeRewards, Kidstart, Quidco and TopCashback. Read my article ‘4 UK Debit/Credit Card Purchase Passive Reward Schemes — No Investment Needed’.

Getting Additional Features when Combining with a Curve Card

As well as getting additional cashback, you will also get these additional features when you pair your Crypto.com card with a Curve card:

  • Curve Customer Protection, up to £100,000 (the Crypto.com card currently doesn’t offer any protection other than standard VISA customer protection)
  • Apple Pay, Google Pay and Samsung Pay support, so you can use your Crypto.com from your phones and watches
  • No need to carry your Crypto.com card, just carry your Curve card (which can also be used as a virtual card for any other of your debit or credit cards). This results in a thinner wallet and less hassle if your wallet gets lost or stolen
  • The ability to activate/disable your card from the app (in the event that you lose your Curve card)
  • Anti-embarrassment mode — if paying with your CRO card fails for any reason (e.g. lack of funds), the Curve Card will automatically try a defined backup card (I have set mine up to be a Barclaycard Credit card)
  • The ability to ‘go back in time’ 90 days and switch payments from one card to another, up to £5,000
  • Advanced spend tracking
  • Only 1 PIN to remember

Watch my review of Curve:

How to Apply (and get $25 + £5)

Order a Crypto.com Card

  • Sign up to Crypto.com with referral code qu80wtyk0i This can be used up to 10 days after you sign up. You’ll get $25 if you stake 2,500 CRO
  • Download the app
  • Select the card you want
  • Add some money onto the Crypto.com card (required for it to be verified by Curve)

Order a Curve Card

How to Load Money onto the Card

Option 1) Bank Transfer

You can transfer money from your bank into a fiat wallet within Crypto.com.

Crypto.com don’t charge for this, but some banks do charge for transferring money, if so; Revolut is a good option for transferring money with zero/minimal fees.

Option 2) Credit Card Deposit

This is the option I use.

Note that I live in the UK and there are no fees for depositing to Crypto.com via debit card, fees of up to 3% are applicable for some countries, see the official guide for information.

To get maximum rewards, I transfer money in this order :

I then replenish by credit card from my bank via Direct Debit (always pay it off in full).

If I pay money from my UK credit card directly to Crypto.com, my credit card company (Barclaycard) charge me a small fee. When sending money to Revolut, I don’t get charged, so the whole process is free.

Here’s my review of Revolut:

Get a Revolut card for free.

Option 3) Buy a Cryptocurrency

Buy a Cryptocurrency (such as Bitcoin) from within the Crypto.com app, then convert and transfer it to the currency associated with your card.

Note, you might need to declare all cryptocurrencies buy/sells to your government and they might be taxable. Here are the government instructions for UK residents.

Option 4) Transfer Cryptocurrency

Transfer BTC from another exchange (such as Coinbase) to Crypto.com, then convert and transfer it to the currency associated with your card.

How to View and Manage Cashback

Cashback is given as CRO. To view it in the Crypto.com app, navigate to:

  • Accounts
  • Wallet
  • CRO

From here, you can:

  • View your cashback history
  • View the historic value of CRO
  • Buy, sell and transfer CRO (withdraw to a fiat currency or cryptocurrency)

Also, if you go to the Earn section of the app, you can stake your CRO for a defined interest percentage, currently up to 18% p.a. if you are are currently staking 10,000 CRO or more. You can also get 20% p.a. if you use the Crypto.com Exchange — this isn’t available within the app yet, you have to use a web browser.

To convert CRO to fiat:

In the app, navigate to:

  • Accounts
  • Fiat wallet
  • Sell Crypto
  • Select the fiat wallet (e.g. AUD, CAD, Euro, GBP, USD)

Upgrading Your Card

You can upgrade your card at any time. When doing so, you have the following options.

Option 1: Upgrade and get a new card

As soon as you upgrade, your current card gets disabled so you can’t use it. The workaround for this is to use a Curve card and spend on another debit/credit card. When you get the new MCO card, you can then use the Curve ‘Go back in time’ feature to move purchases from the card you used onto the new MCO card.

Depending on where you live, you might need to pay 50 GBP/EUR/other fee to upgrade. In the UK we do, in USA you don’t. Note, I personally have no objection to paying the £50, as I want to support Crypto.com and you make it back quickly.

Option 1a) Upgrade, then downgrade

If you upgrade and then downgrade, you get to keep the higher tier card and the Airport Lounge Pass feature.

Option 2: Upgrade without getting a new card

You won’t get a new card, but you can continue to use your current card. Also, you will get all the benefits of higher tier, apart from Airport Lounge Pass, as this requires you to physically present your card.

You can request the higher tier card at any time (you will have to pay the 50 GBP/EUR/other fee if you live in an applicable country)

Cashback Restrictions

There are some purchase types that are not applicable for cashback (see the full list with MCC merchant codes). These include items including payments for currencies, insurance, utilities and self-service fuel dispensers.

You can use the VISA supplier locator to see which MCC code retailers use.

How I Spend Money with the CRO Debit Card

My process is:

  1. Spend with my Curve card (via website, contactless, phone, etc.)
  2. Payment gets taken from my CRO card
  3. I receive cashback as CRO
  4. I invest the cashback into the Crypto.com Supercharger feature (these usually earn about 10% APR)

If the purchase doesn’t result in cashback (step 3), I use the Curve ‘go back in time’ feature to move the purchase from my CRO card, onto my credit card to get reward points on there (currently a Hilton Barclaycard).

Final Thoughts

I must say, the cards look and feel really nice. They are metal, heavy, nice texture and the logo (which is a tiger) looks cool. The front of the card intentionally doesn’t have a card number on the front, so you can share it on social media.

Unboxing the Ruby Steel MCO Visa Card from Crypto.com
Unboxing the Jade Green MCO Visa Card from Crypto.com

Having said that, my card will be staying at home! I’ll be using my phone/watch make contactless payments of up to £45, or my physical Curve card for higher payments.

Want More?

Owner of https://www.selfcrypto.com/, SAP BASIS consultant since 1999. Interested in technology, cryptocurrency, adrenaline sports, cars, health, fitness

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