The MCO Visa is a cryptocurrency debit card issued by Crypto.com that has become a highly popular product in the financial market. It stands out as one of the most accessible metal cards available, especially for users in regions like Taiwan, offering high rewards and multiple benefits without hefty annual fees.
Among its key advantages are cashback rewards, complimentary Spotify and Netflix subscriptions, free airport lounge access, and no foreign transaction fees. Higher-tier cards even offer attractive annual interest rates on staked deposits, making it a compelling option for crypto enthusiasts and frequent travelers alike.
After much anticipation, I decided to apply for and received the MCO Visa Indigo card. Here’s my detailed review and experience.
First Look: Unboxing the MCO Visa Card
The MCO Visa card is visually striking—a sleek indigo-colored metal card with a brushed finish. Although the color is applied rather than inherent to the metal, the texture feels premium and durable. I’m curious to see how well the finish holds up over time.
MCO Visa vs. American Express Platinum
Both cards are metal, but they cater to different audiences. The MCO Visa has a modern, youthful aesthetic, while the Amex Platinum leans toward a classic, professional look. In terms of weight, both come in at around 19 grams, giving them a substantial feel compared to standard plastic cards.
How to Apply for the MCO Visa Card
To get started, you’ll need to open a Crypto.com account. The application process is straightforward, but it involves purchasing and “staking” MCO tokens for 180 days. Staking means locking your tokens for half a year—similar to a fixed deposit—during which you can’t sell them. This requirement implies that you must be comfortable with committing your funds for at least six months.
When buying MCO tokens, treat it like investing in stocks or funds: aim to purchase at a relative low or a price you’re comfortable with, since market fluctuations during the staking period are beyond your control.
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Key Features of the MCO Visa Card
The Indigo tier (which shares benefits with the Jade Green tier) requires staking 500 MCO. In return, you get:
- 3% cashback in MCO on general spending
- 100% reimbursement for Spotify and Netflix subscriptions
- Unlimited access to Lounge Key airport lounges worldwide
- 6% annual interest on staked MCO
The lowest tier, Ruby Steel, requires staking only 50 MCO and offers:
- 2% cashback on spending
- Spotify reimbursement (but no Netflix)
- No lounge access or staking rewards
Higher-tier cards are available for those willing to stake more, but they come with greater financial exposure.
What Happens After the 180-Day Staking Period?
Once the staking period ends, you can choose to restake your MCO to maintain benefits or sell them. If you sell, your rewards drop significantly:
- Indigo/Jade Green cardholders see cashback reduced to 1.5%
- Spotify/Netflix reimbursements are discontinued
- The 6% staking reward ends
- Lounge access remains intact
Ruby Steel cardholders experience a cashback reduction to 1% and lose all other perks.
However, all cards retain no-fee foreign ATM withdrawals, making them useful as international travel cards even without staking.
You also have the option to downgrade your stake—for example, moving from 500 MCO to 50 MCO—to maintain partial benefits like lounge access while reducing locked funds.
Step-by-Step Application Walkthrough
- Sign up using a referral link or download the Crypto.com app.
- Enter the referral code during registration (if applicable).
- Verify your email and phone number via confirmation codes.
- Provide your full name (matching your passport) and verify your identity using an ID, driver’s license, or passport.
- Set a password and choose your display currency (e.g., USD).
- Navigate to the “Card” section and select your desired tier.
- Purchase and stake the required MCO amount.
- Complete address verification by submitting a utility bill or government document.
- Track your application status until the card is shipped.
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My Application Timeline
- June 4: Account opened and verified
- June 9: MCO purchased and staked; card application submitted
- June 9: Address verified; application under review
- June 10: Card issued
- June 11: Card shipped via DHL
- June 15: Card received
Frequently Asked Questions
What is staking?
Staking involves locking your cryptocurrency in a wallet for a fixed period to support network operations and earn rewards. In this case, it’s required to access card benefits.
Can I use the card without staking?
Yes, but rewards and perks are significantly reduced. The card remains functional for spending and withdrawals.
Is the MCO Visa card available worldwide?
The card is available in many regions, but availability depends on local regulations. Check Crypto.com’s website for supported countries.
How are the cashback rewards paid?
Rewards are distributed in MCO tokens, which can be held, traded, or converted to other cryptocurrencies or fiat.
What happens if the value of MCO changes during staking?
Your rewards and stake value fluctuate with the market. This is a risk you accept when staking cryptocurrencies.
Are there any hidden fees?
No annual or issuance fees apply, but standard crypto transaction fees may occur during trading or conversion.
Final Thoughts
The MCO Visa card offers attractive benefits and a premium metal design, but it’s essential to remember that it’s rooted in cryptocurrency—a volatile asset class. Your returns and benefits can be affected by market trends, exchange rates, and other factors. Always do your research, assess your risk tolerance, and invest responsibly.
Rewards and perks are enticing, but they shouldn’t lead to uninformed financial decisions. With careful planning, the MCO Visa can be a valuable addition to your wallet.