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

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nextgen622
@nextgen622
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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.

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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