Beginner’s Guide to Monaco: Cryptocurrency Visa Cards

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Monaco is an incredibly useful take on online banking, allowing users to hold multiple fiat and cryptocurrencies in an account that is always free and providing access to VISA payment cards which you can use to spend your currencies at any retailer that accepts these debit cards. The bank always conducts exchanges at the real rate, so you do not lose money when converting various currencies.

In addition, Monaco has it’s own Cryptocurrency token named MCO which you can earn just by using one of their cards at a rate of 2% cashback on all transactions.

Monaco Website

In this guide we will take a look at this new company which is aiming to bridge the gap between cryptocurrencies and real-world usage.

How Does Monaco Save Users Money?

Right from the start, creating a Monaco account is completely free, saving you on the monthly fees and minimum balance requirements typically found at other banks. Anyone who does transactions in multiple currencies will save on each transaction involving an exchange rate. Instead of adjusting the exchange rate to work in its favor, Monaco offers the real exchange rate. Considering the average high street bank will upcharge between 5 and 8 percent on transactions with exchanges, this can add up to significant savings. This is why Monaco appeals to those with multiple currencies and crypto assets.

To further help users save money, Monaco offers as much as 2 percent cashback in the form of their MCO cryptocurrency on all purchases. This will add up quickly, particularly if you use Monaco for larger transactions.

Whom Does Monaco Appeal to?

While anyone could benefit from using Monaco, it is specifically designed to appeal to a few groups of people. One of the largest of these is those who travel frequently and don’t like seeing extra fees that make their trips more expensive. Since there are no fees, the Monaco card always acts like local currency, delivering the best interbank exchange rates no matter where in the world you are or where you are from.

Those who buy, earn, or spend cryptocurrency will also appreciate the advantages of Monaco. After all, Monaco always offers the best rates for conversions and purchases. The cashback function also means that every time you spend with Monaco, you get cashback, something that cannot be said of other cryptocurrency wallets and banks.

Monaco can also be incredibly useful for sending and receiving money at interbank rates without any fees. Both sending and receiving occur instantaneously, and there is no fee, such as those associated with popular money-sending options.

What Can You Do with Monaco?

Once you open a Monaco account, you can perform transactions just like you would with any other card or bank. Hold, spend, or exchange a long list of currencies in a single account, including the most popular cryptocurrencies, such as Ether and Bitcoin. Use Monaco to manage your funds and top up your account with Bitcoin, Ether, a bank transfer, or a debit or credit card. Convert your money and send it, or just make purchases anywhere using your card. There are more than 40 million locations around the world where you can pay with Monaco.

Via the application for your Android or iOS device, you can also receive instant notifications on spending, so you don’t have to worry about fraud. You will find useful tools, such as a weekly or monthly budget to manage. You can even add notes to purchases to help you remember what they were for.

What Are MCO Tokens?

MCO tokens are the Monaco tokens, and you will earn them every time you use your Monaco card. Each transaction can let you earn as much as 2 percent MCO cashback. You can find MCO on at least seven exchanges, a figure that is growing. There, you can easily swap it for your cryptocurrency of choice, and it is particularly easy to exchange it for Ethereum and Bitcoin. MCO tokens are based on Ethereum, the global decentralized verification network known for its extreme security.

Monaco Tokens

Comparing Monaco Cards

There are several types of cards available through Monaco. The most basic is Midnight Blue, which does not require any purchase of MCO. Even without investing in Monaco via the purchase of MCO, you get all the basic features. You also receive zero annual and monthly fees, and free shipping of the card. There is a $200 limit for free ATM withdrawals and an interbank exchange rate limit of $2,000. This card is plastic.

The Ruby Steel card is a limited edition and metal. It requires a minimum purchase of 50 MCO, but it increases the interbank exchange rate limit to $4,000 for free, charging 0.5 percent after. It also increases the limit for free ATM withdrawals to $400, charging 2 percent after. This card also adds $500,000 of travel insurance coverage and 1 percent cashback on every purchase.

Monaco Cards

The Precious Metal card is another limited-edition Monaco card made from metal. It requires the purchase of at least 500 MCO but increases cashback to 1.5 percent. The interbank exchange rate limit increases to $10,000 for free. In addition, you can withdraw up to $800 from ATMs for free (with the previously mentioned rates after).

The Obsidian Black card, also metal, is another limited edition. There is no limit on interbank exchange rates, and the free ATM withdraw limit increases to $1,000. Cashback also increases to 2 percent. This card is very limited, with just 999 cards available in total, and it requires 50,000 MCO at a minimum.

How Does Monaco Remain Secure?

Monaco includes some of the most important security features you expect from online banking systems. It only takes a tap to block or unblock your Monaco card. You can also turn contact-less payments and ATM use on or off instantly.

What Is Next for Monaco?

In the future, Monaco plans on sending cards to more users for review and use and a mass rollout in Europe to about 30 countries. It will then announce two new products that will significantly impact user growth. The plan for rolling out Monaco begins in Asia, before spreading to Europe and then North America. It will be done in stages. Those who are interested are strongly encouraged to reserve their cards early, as the team anticipates a demand greater than capacity initially.


For those who prefer to hold multiple currencies or frequently conduct transactions in a range of currencies, both fiat and crypto, Monaco will be a very useful tool. Because it is a VISA card, it should be accepted worldwide with ease. This provides simplicity for users without any fees and makes traveling less stressful, at least from a financial perspective.

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Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact

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