Thought I would give a bit of a run down on crypto.com and the MCO Debit card which is what allows you to get the 10% cashback at these merchants, plus 2-5% anywhere else:
The MCO Debit card is a debit card that requires a small crypto stake (the more you stake the better your perks). At current prices, the Ruby Red metal card requires a $300 AUD stake minus a $50 USD referral bonus which you can get below from OzBargain. After that you should receive the debit card and can top it up directly from your forex fee free debit card and spend it on your dope new metal card to get 2% cashback on all purchases as well as 10% on select merchants like Woolies/Aldi/UberEats and so on. You can even get 15% with Woolies discounts via Shopback/Cashrewards - I've loaded up on hundreds of dollars of those recently.
You can also use it as a Crytpo Wallet and Earn interest on your cryptos or stablecoins (tethered to normal currencies like USD, AUD), rates are 6-10%.
There are different Card Tiers - I feel Indigo/Jade (500MCO) is the sweet spot for value since you get free Spotify, Netflix, unlimited lounge passes for when flying is back, 3% cashback, and bonus interest rates. If you're more of a beginner then the Ruby is great for free Spotify and 2% cashback - i started off here but quickly realised I wanted to upgrade ($50 fee to upgrade though…)
- Flat cashback 3% with Indigo/Jade (1%-5% with other colours) on all card spending.
- Rebate for monthly family Aus Spotify and Netflix (prime/others with other colours).
- 10% cashback with Woolworths/Aldi for 3 months, CAPPED AT $50 USD equivalent per month, afterwards reverting to standard 1-5% cashback.
- 5% STACKS WITH GIFT CARDS - use ShopBack/Cashrewards for an extra 5% off.
- For full list of others (UberEats/McDonalds/Costco etc) 10% Cashback see here(help.crypto.com)
- No fee to top up the debit card (with normal SGD/AUD currency)
- 3.5% credit/debit card fee wavied for crypto purchases for 3 months. Top ups never incur a fee from a debit card.
- No forex fees when using the card
- $50 USD equivalent referral bonus signup. Get code below.
- Shiny metal card…
- need to learn a bit about crypto
- need to "stake'at least A$250 in MCO (depending on tier) for 6 months. This involves buying their coin and keeping it with them for 6 months. Obviously the value might fluctuate, but ideally would go up as more people demand MCO.
"crypto is a scam, these guys are a scam"
It's really not, they're almost a billion dollar company run by an expert management team that has had multiple successful exits. For $250 I think it's worth checking out, if their service has any kind of uptake, which given their offering seems to me extremely likely that money is going be worth considerably more. If it doesn't even with the Spotify, referral bonus and 10% cashback it will pay for itself.
You can read more about it across the web. I've personally found this channel quite useful and this video chats about why he believes crypto.com is not a scam and its price will skyrocket https://www.youtube.com/watch?v=i3wav90fjec
Thanks to the previous submission of this deal here - I reworked and updated a lot of the material there :)