Crypto.com is not like any cryptocurrency exchange you have come across before. It is much more than just an exchange. One of their major products is cryptocurrency debit card known as Monaco VISA card. This card is at the same level as other VISA cards you get from traditional banks to disburse your fiat currencies online and offline.
The importance of Debit Cards in Cryptocurrency world
Before the arrival of Cryptocurrency Debit Cards, spending digital assets required a lot of effort. Currencies needed to be converted across different channels and this attracted additional fees. There was a limit to what you could do directly with your digital assets.
The objective of Cryptocurrency to compete with fiat and take over the world economy is halfway achieved by the inception of Crypto Debit Cards. With these cards, we can now deposit, withdraw and spend digital currencies at stores, restaurants and other places where debit cards are accepted. This has become a channel through which Cryptocurrency can be enjoyed to its maximum potential.
Crypto.com Debit Cards
Their Crypto Debit Card project has commenced even before Monaco got the highly-priced domain. Crypto.com is one of the high-ranking keyword-based domain names in the crypto sector. Monaco Cards bring a completely new experience for Crypto enthusiasts across the globe. These are universally acceptable cards that go way beyond just spending digital assets at stores and malls. They go to the extent of having personalized subscriptions with world known media websites for music and movies.
There are 6 kinds of Monaco card. Each of these 6 has its own unique features and benefits. They are named with respect to their colors: Obsidian Black, Icy White, Royal Indigo, Jade Green, Ruby Steel and Midnight Blue. Only 5 of these cards will be discussed here.
Before we look into these cards, let us discuss some general notes that are applicable to all MCO cards.
General facts about all Monaco Debit Cards
- Unlike many other crypto cards that require a certain amount of money to acquire, all Monaco cards are free but each has a lockup amount in MCO token.
- You cannot load other cryptocurrencies apart from MCO token on the cards. Loading other cryptocurrencies requires conversions into USD.
- All Monaco cards accept direct loading of USD.
Obsidian Black Card
This is the highest among the 6 cards. It is made of metal with a magnificent body. In order to acquire an Obsidian Black card, you need to possess up to 50,000 units of MCO token in your wallet. You can withdraw up to $1,000 from ATM monthly free of fees. ATM withdrawals afterward attract 2% of the transaction value. There is no limit to how much you can transact on interbank exchanges and this attracts no additional fee whatsoever.
What is more, the Obsidian card is tied to powerful applications like Spotify, Netflix, Expedia and Airbnb. This relationship brings 100% monthly subscription on both Spotify and Netflix and 10% on Expedia and Airbnb. As well, you get 5% Cashback on your spending.
Icy White Card
The Icy White card is only second to Obsidian Black in the level of features and benefits. With 5,000 MCO token in your wallet, you have the required MCO Lockup and can access this card. Feeless withdrawals on ATM as much as $1,000 monthly and the subsequent ones attract 2% of the value. You can as well transact up to $20,000 on interbank exchange with zero fees while the subsequent withdrawals will incur 0.5% of the transaction value.
The Icy White card’s relationship with Spotify, Netflix and Expedia bring 100%, 100% and 10% monthly subscription respectively. What is more, spending your digital assets with this card brings 4% Cashback.
Royal Indigo Card
The MCO Lockup for Royal Indigo is 500 units of MCO token. You can withdraw up to $800 on ATM monthly with zero fees. The subsequent withdrawals will incur 2% of the value. On interbank exchange, you can transact up to $10,000 monthly. Any subsequent transaction will attract 0.5% of the value.
The Royal Indigo offers 100% monthly subscription on both Spotify and Netflix. As well, you get 3% Cashback as you spend your digital assets with this card.
Jade Green Card
Lock up to 50 MCO token in your wallet and you get to access the Jade Green Monaco card. This card allows you to make up to $400 ATM withdrawal with zero fees monthly. The subsequent ones attract 2% of the value. Free of fees interbank transactions is limited to $4,000 monthly while the ones that are done afterward incur 0.5%. The Jade Green card offers 100% monthly subscription on Spotify and brings 3% Cashback on your spending.
Ruby Steel Card
The Ruby Steel card requires no MCO lockup in your wallet. It is completely free. You can withdraw as much as $200 on ATM and $2,000 using interbank exchange monthly with zero fees. The subsequent transactions incur 2% on ATM and 0.5% on interbank exchange. As well, you get 1% Cashback on your spending.
You can easily spend your digital assets anywhere, transfer money between home and abroad accounts and withdraw at ATM points using Crypto.com VISA cards. Enjoying the services of these cards comes cheap but that is not all. They bring some kind of rewards, Cashback as you spend Cryptocurrencies with them. Learn more about MCO VISA cards here.
For More Reading
- Crypto.com: A Well Equipped Platform For Cryptocurrency Trading And Spending
- Monaco - Crypto.com
- About Crypto.com
- Monaco VISA Cards
DISCLAIMER
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.