In this post, we’ll take a detailed look at the MCO Visa, its benefits and risks, and crucially, why it’s not for everyone. For me, however, that’s too big a risk to jump in. Fees are irrecoverably lost money. Not because the MCO Visa is a bad product, but because it’s being marketed to the wrong people.. 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. Aaron founded The Milelion with the intention of helping people travel better for less and impressing chiobu. But that’s the point- if you’re like me (and I’d hazard that most of the general public is). It’s more like a time deposit which pays your interest on top of the benefits you are receiving. Cardholders cannot load cryptocurrency onto their Crypto.com Visa Card.All cryptocurrency will be converted to US Dollars and the US Dollars can be loaded onto the Crypto.com Visa Card for use in purchase and ATM withdrawals. Disclaimer: BY USING THIS CARD YOU AGREE TO THE TERMS AND CONDITIONS OF THE CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. Each tier (except Midnight Blue) comes with a metal card and requires you to “stake” a certain amount of MCO for at least 6 months. LoungeKey™ Airport Lounge Access + 1 guest ****. Well, now you can. Where’s the warning that your staked amount might be worth a lot less after the lockup period? Just get a cryptocurrency debit card and buy also non-virtual goods (coffee, beer, clothes, etc.) It would be a much smarter option to buy MCO now that it has been decreasing in value for quite some time increasing the chances of your money increasing in value.. 100% rebate on Spotify and Netflix subscriptions, a 10% rebate on Expedia and Airbnb, 2.5% cashback on all foreign currency transactions, Announcing The Milelion’s Monthly Miles Meetup for October 2019, First Class on Singapore Airlines to get swankier: new champagne, amenity kits and caviar service coming, OCBC offering 1.7% CardUp fee; make payments and buy miles from 1.04 cents, Great deal: Get S$300 cashback with a new HSBC Revolution Card, Milelion Exclusive: 80,000 MR points & $150 Love Dining credit with the AMEX Platinum Credit Card, Limited time: Earn up to SS$490 cashback with the OCBC 365 Card (including insurance premiums), 2021 Edition: How to pay IRAS income tax with your credit card (and earn miles). Visit here for more details.. MCO Visa Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to licence from Visa. Unfortunately, that’s exactly what’s happening in these posts. All MCO Visa cardholders enjoy a certain amount of no-fee foreign currency transactions and ATM withdrawals each month. I hope this article appears at the top of every MCO Visa search on Google. I do, however, have issues with how the MCO Visa is being marketed. Continue staking to enjoy extra CRO rewards. At this point of writing, it seems to only be available in most parts of US, Singapore and some parts of EU. The MCO Visa Card is the new name for the Monaco card. Yes and no- the annual fee must be paid each year, whereas you could technically redeem your stake after 6 months and still enjoy the lounge benefits indefinitely. Thanks for highlighting the issues, I was considering this for the free Spotify. As of 19 March 2021 09:00:00 UTC, new Card Staking Rates in Fiat will apply should the cardholder (1) upgrade their card tier or (2) unstake and restake their CRO Card Stake at a later date. You can take it out after 6 months and still keep your card, lounge access and cashback. The Crypto.com Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank © 2014. Cardholders who stake CRO for a card based on the new fiat-based rates will receive the exact amount of CRO back when they unstake. The card currently supports the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Litecoin (LTC), Binance Coin (BNB), MCO Token, CRO Token, Crypto.com’s native blockchain. I have no issues with the MCO Visa per se. Reserve yours now: bit.ly/3g4Y85d We're giving away $100K in #BTC on Twitter. I see it as a way for those already into crypto to spend it more easily while enjoying some rebates and travel benefits. Transactions made under certain merchant categories or channels are excluded from the CRO Rewards programme. 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. Now my feelings on cashback have been well-documented, but I will say this: even if you swing that way, there’s no need to get an MCO Visa just for its cashback rates. Crypto.com has already seen thousands of reservations for the MCO Visa card from users across the EU and the Crypto.com app has reached top 50 in the Finance category in the UK, France, Italy and Spain Crypto.com’s broad European card launch comes after successful card launches in the UK and the United States. As you can see, the cost of entry ranges from negligible to very steep. Cardholders can enjoy up to 8% back on spending, perfect interbank exchange rates, and generous purchase rebates for Spotify, Netflix, Amazon Prime, Airbnb, and … After the 6 month period ends, you can unlock your MCO stake and sell it, although by doing so you’ll lose certain benefits such as enhanced cashback and travel rebates (see below). Yes it does benefit if you have a proper guidance and if you read more. 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. Now I facing issue on withdrawer of my deposit. To end off, I do think your analysis was very objective and extensive, so kudos to you for that. The MCO Visa Card is a perfect replacement for many credit cards and debit cards. The Travel Intern highlights the unlimited free airport lounge access that comes with the MCO Visa. with your crypto assets. 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. Pour les citoyens de France et de l’UE: dépôts et retraits gratuits en euros avec virement SEPA. 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. 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. With the Crypto.com Visa Card spend anywhere with no fees. The MCO Visa Card can be used at over 50 million locations worldwide that accept Visa. AND you get the 2% cashback and you get to take back whatever the MCO is worth if you… Read more », yup! What is the MCO Visa card? Other cards on the markets charge you excessive amounts of fees for similar services. Crypto is scam, stay away and don’t get burned! If you need to go beyond that, the Premium version of Revolut still outperforms the next highest tier of MCO Visa. So unless you’re a seasoned trader, do yourself a favor and steer clear of the MCO Visa. 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). Over the past few months, Crypto.com has been doing a paid media (i.e sponsored posts) push for the MCO Visa. It all boils down to what you believe the value of MCO will be in 6 months. Have been able to pay for all my contactless payments. MCO Visa monthly no-fee ATM withdrawals and transactions. This not only goes for crypto but for other things as well. There is so much to unpack here. 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. MCO Visa Cashback rates- with and without stake. The Travel Intern mentions how MCO Visa cardholders enjoy global card acceptance, plus fee-free ATM withdrawals and spending. Follow, Like and Retweet for a chance to win $200. 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. i started looking at MCO Visa card when I found that it actually provide cashback for insurance and e-wallet top up which are excluded for most other credit cards. Read T&Cs for full details. Let’s assume you went with the Royal Indigo/Jade Green card, the cheapest version with this benefit. Cardholders must complete the registration online via, (for Obsidian, Frosted Rose Gold & Icy White) or. The MCO Visa is a crypto-backed prepaid card offered by Crypto.com, a Hong Kong based startup formally known as Monaco. Etat de ma demande de Carte Visa Crypto.com. Tweet link: twitter.com/cryptocom/status/1262676872854269953. Since 2017, the cryptocurrency company has launched two native tokens – Monaco (MCO) and Crypto.com coin (CRO), both of which are rank highly on CoinMarketCap based on market capitalisation. What this means for you: What you apply for a Card, we will ask for your name, address, date of birth, social security number or country identification number, and other information that will allow us to identify you. Make the MCO Visa Card your go-to travel card with our enhanced rewards and benefits! NOTICE TO POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE. Thank you for your analysis. However, they come with a major caveat: exposure to cryptocurrency. That’s worse than traditional cashback cards like the SCB Unlimited (1.5%), AMEX True Cashback (1.5%) and Maybank FC Barcelona Card (1.6%). 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 addition, it does not require to pay for annual fee if I just simply hold a free card and enjoy 1% cashback. Again, are you willing to risk that? Let me preface this by saying I’m no cypto expert. Second, it’s flat out irresponsible to suggest that this is in any way a suitable investment for beginners. Moreover, I am getting 6% interest from the ‘EARN’ feature every 7 days (50 MCO staked). 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. each month (MCO: US$2,000). Based on this reviewer’s experience of using the card in France, it’s been exactly the same as using a debit card. First of all, it’s completely absurd to make the point that because 1 MCO costs much less than 1 Bitcoin, it’s easier to start investing in MCO. That’s not a decision to be taken lightly, hence my belief that this card should only be considered by seasoned crypto users. Here’s $50USD to get started by using the referral code *removed*, Personal view: Stake 500MCO to enjoy the 3% rebate for all spend, then direct transfer the money (for spending) to MCO card wallet (no need to convert to MCO currency to take the risk for the money you going to spend) from SG debit card with zero charge. I've used the MCO Visa Card of CryptoDotCom for the last 7 days and I have to say it works pretty well. 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. After I have invested 3 month term of CEO. Visit getmco.com/sg to find out more. However, I do think there is an opportunity for the average user, whereas your title suggest otherwise, hence I wanted to cover that aspect. Procédure. In this video, I will show you how to activate and start using your Crypto.com visa debit card. I did use it for trading, also for savings and for staking. If you have no idea what MCO is (and arguably, even if you do), you’re basically gambling. I was considering applying for a metal card, but the risk is not low. Would I risk a quarter of a million dollars for a 10% rebate on Airbnb? Comme il s’agit d’une carte Visa, vous pouvez utiliser votre carte Monaco comme n’importe quelle autre carte. I mean, it’s just the cost of a plate of chicken rice! https://cryptoast.fr/carte-visa-mco-maintenant-disponible-etats-unis After 6months,… Read more », think you got a few things wrong though the 500 MCO doesnt go to fees. Ensuite, choisissez votre niveau de carte désiré et Stakez l’équivalent de CRO correspondant. Visit Coinbase. Offers may only apply to new-to-bank customers. Wouldn’t it be nice if you could convert your crypto assets into everyday purchases and buy goods with bitcoin and other altcoins? Maximum Reimbursement amounts: Spotify: US$9.99 equiv (monthly subscription fees), Netflix: US$12.99 equiv. Etat de ma demande de Carte Visa Crypto.com. 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. 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. If you’re not well-versed in the credit card market, the perks offered by the MCO Visa may sound enticing. As the table below shows, the free version of the Revolut outperforms the free version of the MCO Visa, with S$350 of fee-free ATM withdrawals (MCO: US$200) and fee-free transactions of up to S$9,000. Anyone can guide me how can I get back my deposit ? Where’s the warning that past returns may not be indicative of future results? I think it’s a well-conceptualized product, and can appreciate how it bridges the gap between virtual and fiat currencies. Take this one by The Travel Intern for example. MCO is now being swapped to CRO. Ruby Steel MCO Visa Card: 50 MCO Stake. Actually, I am more willing to invest my money to them rather than putting it on my local bank which only gains low interest per month. Another home run, Aaron.. and yes, you are smarter than the average bear, Duh.. . Bitcoin can be bought in fractions as small as 0.00000001 (known as one “Satoshi“, named after the creator), which means that if you have ten cents in your pocket, you can buy some bitcoin. There is no underlying asset here, there is no intrinsic value. Compare staking and non-staking benefits. Is it still valid today? Once you step up to the next tier of MCO Visa, your cashback rate goes to 2%. What is the MCO Visa Card? Now up to 5% card cashback, free Spotify, Netflix and 10% rebate on Expedia and Airbnb.

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