Crypto debit cards latest?

Yes just saw that: https://blog.crypto.com/important-announcement-mco-swap/

But indeed in good crypto.com fashion it is over complex and hard to understand. The new CRO requirements for the card are higher (in euro value), so I am not sure what will happen for people who have the required MCOs to get the card but for which they won’t correspond to enough CROs.

Yeah I'm in that boat, I've 50MCO staked for a Ruby card that's issued but not shipped. I just converted the 50MCO and it says CRO staked now in the visa card tab so I'm sound. It's now a 5000CRO stake for Ruby from now on

So if you got in with 50 CRO, you got in early and do not need to stake 5k CRO?
Great.

Also, see above post about price manipulation.

After doing some reading, *my understanding* is that:
- anyone who had staked MCOs and converts them to CROs will keep their card benefits for as long as they don’t unstake (I.e. even though their staked CRO amount is lower than what the websites says is required, they don’t need to buy more to keep the benefits *as long as they don’t remove the staking*).
- Crypto.com have a formula which sets the conversion rate of MCO to CRO in the app to 10% higher than what it was yesterday and are giving a 20% conversion “bonus”. So MCO just jumped 30% and is now effectively pegged to CRO based on the formula and the bonus as CDC are guaranteeing they will convert at this rate (until the beginning of September).
- In November MCO will stop being supported by them. It will still exist on the Ethereum blockchain but will presumably become worthless.

Stormington wrote: »

Q: if I share a refer link to someone and they buy in before November, do they need to buy and stake 50 MCO for ruby, or 5k CRO?

Only CDC can give a definite answer I guess, but as far as I can tell they will need the 5000 CRO staking (I don’t think it’s even possible to buy MCOs in the App anymore, i think they are deliberately making very clear that they want to kill MCO ASAP and there is no point in holding onto it). Not sure in which token the referral bonus would be paid though ...

PS: btw the rumours you mentioned a few days ago about them manipulating the price of MCO downwards are about to gather more public attention in light of this change!

PS: btw the rumours you mentioned a few days ago about them manipulating the price of MCO downwards are about to gather more public attention in light of this change!

No rumours on my side. Just observing what was in the price (charts).

MCO doesn't seem to be available to buy anymore in the app

That answers that.

Can you transfer in MCO from outside ?

Because it goes down doesn’t mean there is manipulation though

Every market is manipulate to some degree.
If you can find me one that isn't, I'll sell everything and pour money into it.

The price structure in the charts suggested there was manipulation. This latest info appears to confirm it.
I am happy that I did not buy MCO at ICO and that I applied for a card when I did.

el diablo wrote: »

Large increase in value of my MCO holdings so I guess it's a good time to convert to CRO. But is it true that MCO is now pegged to CRO?

It effectively is, because CDC are guaranteeing a minimum conversion rate, and there is no reason for it to go higher than that rate (as it is clear they will kill it in a few months).

Details here: https://blog.crypto.com/important-announcement-mco-swap/

Gooey Looey wrote: »

If it's not staked you can transfer it out to Binance then exchange it, you'd get more for it than this fixed deal to CRO + 20%

It's currently staked and locked in.

el diablo wrote: »

It's currently staked and locked in.

Same boat here. Will keep staking with my discounted buy-in of 1500 CRO approx.

Early buyers of MCO will be very angry though. For others, lots of rage around the move, but watch it subside as the CRO price magically starts to drop over time making a buy-in cheaper (C.com have > 80% of the supply).

Approx $200 for Red and $2k for Green are entry levels they'll aim for long term for their debit cards I suspect.

And actually ... the CEO just announced at an AMA that the CRO card staking requirements will be on fifth of what was originally announced (meaning the EUR cost is slightly lower than it was with MCO).

Edit: new staking amounts now on the website.

banie01 wrote: »

If the staking requirements stay at current MCO equivalent as you have mentioned...
Thats the Mrs moving away from coinbase at last!
She never liked binance, and kraken always left her nervous :P

Especially since CRO is now dropping; in euro terms the cards haven’t been that cheap in a while :-)

I think they messed-up though and not sure what’s coming next. If CRO keeps dropping they’ll likely have to increase the the amounts again but it would be awful PR.

Stormington wrote: »

Card arrived.
It's gorgeous though Irish websites do not like it.
Adding it to Curve gets rid of that problem.
Two cashback amounts went through immediately.
I am happy so far.

Which websites if you don’t mind saying?

For the most part I didn’t have any problem. Only my Vodafone online topup refused to work last month (after working fine before).

Bob24 wrote: »

Which websites if you don’t mind saying?

For the most part I didn’t have any problem. Only my Vodafone online topup refused to work last month (after working fine before).

Phone bill was one.

Anyone got the swipe card? Does it work with Google pay? The rewards are now pretty close to the Crypto.com card

The Blue card is halfway between Jade and Ruby on crypto.com.
It's very appealing, but I want to see how/if they offer staking and something like earn.

Plus, crypto.com will need to reply. 2% cashback and rebates for Amazon Prime + Netflix + Spotify for 300 spx is really good. You need several thousand euro in cro staked to get amazon prime for example.

Anyone have a referral link for swipe card?

banie01 wrote: »

Gomo payment from my crypto.com card didn't process today.
Card number was returned as invalid and trying to pay manually generated a contact issuer message with codes 61, 338.

Not a huge issue and one I'd guess is related to Gomo and country coding but I'll update when I find out.

Use Curve to get around it.

Stormington wrote: »

The Blue card is halfway between Jade and Ruby on crypto.com.
It's very appealing, but I want to see how/if they offer staking and something like earn.

Plus, crypto.com will need to reply. 2% cashback and rebates for Amazon Prime + Netflix + Spotify for 300 spx is really good. You need several thousand euro in cro staked to get amazon prime for example.

Anyone have a referral link for swipe card?

Am I missing something here? I only see "Saffron" and a "Slate Metal" cards on swipe's website: https://www.swipe.io/cards

Edit: ah OK, I just saw they announced new offers today which are not yet on the website. Looks much improved indeed.

Gooey Looey wrote: »

Do you know if crypto.com or curve have any plans of working with Google pay? I've been using Revolut for ages and have a crypto card already shipped and plan to move most of my day to day transactions from Revolut to CDC for cash back

CDC already supports Apple/Google Pay in the US and have said a few times that they are working on it for Europe, but they never gave any timeline.

I fear this might be on hold until they move away from Wirecard though.

Gooey Looey wrote: »

Anyone know if I can get the CDC 10% cashback in Lidl using the card with curve? Or do I need to use the card itself. I was thinking about adding the card to curve for the missus and holding onto the CDC card for myself

Fwiw, I used the card with curve to pay a bill and got the cashback. It looks like Lidl may work alright.

Lex Luthor wrote: »

Think jimnii has one

I'll drop him a pm tmrw if I don't hear from him 1st

Yep that 10% deal is pretty sweet, wouldn’t mind if they were to extend it.

Btw it is suppose to be for food but since they can’t tell the difference at M&S it works with anything else they are selling.

Crypto.com are moving away from Wirecard in November. This is good, but what I am a bit surprised with is that they went with another intermediary whereas Visa and MasterCard now seem to be encouraging crypto companies to be their own issuers.

crypto.com wrote:

Dear Valued Customer,

We would like to inform you that Payrnet Limited will be the new issuer of the MCO Visa Card UK & EU card program, replacing Wirecard Card Solutions Limited.

The switchover will be completed by 17 Nov 2020. Your MCO Visa Card will remain fully operational during the switchover. There’s no action required.

Thank you for your patience and continued support for Crypto.com

With Kind Regards,
The Crypto.com Team