My experience with the crypto.com crypto debit card so far

in steemlleo •  8 months ago  (edited)

Three days ago I wrote about finally receiving my MCO crypto debit card. Over the past few days I've been playing around with using the card and topping it up. I tried topping the card up with both crypto and fiat, and here's what I've discovered.

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The usability of the crypto.com app is fantastic. Everything is extremely integrated. For the portion of my crypto that I want to keep away long term and earn interest on it, I have placed it into Crypto Earn, and for the small amount left, I can use to top up my MCO debit card directly. But as the price of Bitcoin is a bit low at the moment, I've decided to top my card up with another debit/credit card. I tried topping up with both a Visa debit card linked to my bank account, as well as using a City Bank credit card.

The only downside I've found with the top up process is that I first needed to top up in SGD and then convert it to AUD, as the card is a Singapore issued card. So by using the debit card, I found the conversion fees added up to a bit over 1%. However, to my surprise, using the City Bank credit card, I transferred $200 SGD to the app and then converted it to AUD, and the conversion cost to transfer to AUD and back again in topping up the card only amounted to $0.02! That's right, just 2 cents! I did it again with 2 other amounts and both times, the fees were less than $0.20.

Edit: since my post yesterday, they added a 1% fee for credit card top ups. So the total fee is now going to be a bit more than top up using a debit card.

So with confidence that I can top up my card with minimal cost, I started using the MCO debit card with my purchases, and each time the purchase went through flawlessly, and I received my 3% cashback in MCO instantaneously. It provides a great user experience. I'm definitely going to be using the card as my default card from now on.

You can sign up for Crypto.com and you will receive $50 when you stake 50 MCO. You can also order your crypto.com card from the app.



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