Monaco (MCO) Debit Card Review

The Monaco Card is one of the more interesting cryptocurrency cards available today. Branded by Visa and accepted anywhere that traditional Visa cards are accepted, this card offers holders of cryptocurrency an easy way to access their funds and spend digital tokens with online and offline retailers. The card also allows individuals to withdraw fiat currency from ATMs that bear the Visa logo. At the present time, the card is only available in Asia.

About Monaco -

Monaco is unique among the other cryptocurrency cards that are available to those who own digital tokens. For starters, the card is actually linked to a Monaco bank account which gives users access to both cryptocurrency and fiat. Creating an account is free, unlike some other crypto debit cards, and it’s easy to load and use the account.

Another feature that makes the card unique is that Monaco also has its own digital token. The cryptocurrency is called MCO, and holders of the card can earn free tokens just by using their card to make purchases or cash withdrawals. 2% cashback in the form of MCO is given to users for all qualifying purchases.

Exchanges between fiat and cryptocurrency are conducted in real time. This means that holders of the Monaco debit card are less likely to lose money in the process of an exchange. The primary goal of this company is to help individuals bridge the gap between using cryptocurrency and using fiat. It has taken measures to simplify that process, and the company’s model could serve as an inspiration for other cryptocurrency debit card companies in the future.

Monaco seems to be backed by a team of respected individuals who shepherd the company with integrity. While the company is still fairly new, the current reviews online are mostly positive. The card appeals most to those cryptocurrency owners who do a lot of travel. The absence of fees means that individuals can use their currency in more locations without incurring additional costs. Active investors and buyers of digital currency will also find the card to be very useful.

Monaco is led by CEO Kris Marszalek.  Marszalek is a serial entrepreneur based in Southeast Asia. He was previously a CEO at Ensogo, and he has taken companies from nothing to over $1 million in revenue. Marszalek is joined in the endeavor by Rafael Melo and Gary Or, two individuals who have experience in the financial and technology sectors.

The debit cards for Monaco are being issued by Gemalto, an international company with a strong history in Visa-backed debit cards. Jumio handles ID verification for the company. All of the players in  this endeavor have a solid reputation in the industry.  

Services offered by Monaco (

The primary service of Monaco is a bank account that is free to open and use. To open a bank account one must simply register and submit to identity verification. The next step is to transfer cryptocurrencies to the account so that they may be accessed with the debit card.

At the present time, only those who live in Asia are allowed to open an account and receive a card. Monaco has established a waiting list for individuals in Europe, and the EU is the next continent which is expected to be integrated with Monaco. The company has stated it also plans to offer cards to residents of the United States once account provision to Europe has been established. 

Once the bank account has been opened, a debit card is provided which allows individuals to access their funds at ATMs and make purchases at retailers. Those who choose to invest in the MCO token have the option of receiving a limited edition card, but it should be noted that the limited edition cards have a higher fee structure for ATM withdrawals. 

The cash back feature of 2% is something that few cryptocurrency debit cards are offering. Instead of cash, those who use the Monaco debit card receive MCO tokens. This could be lucrative for holders of the card if MCO increases in value. At any rate, the cash back offer is a way for individuals to add to their portfolio of digital tokens by simply using their debit card.

Loading a Monaco Bitcoin Debit Card

The method of loading cryptocurrency or fiat to the Monaco debit card is actually carried out through the Monaco Wallet app. The app is available for Android and iOS devices. The app functions similar to any other cryptocurrency wallet.

Essentially, owners of the debit card use the Monaco app to buy and sell digital tokens. The holdings in the wallet form the balance that is available on the debit card. At the present time there are four cryptocurrencies supported by the app:

Binance Coin<
Seven fiat currencies are supported:


The company has said that it expects to introduce more cryptocurrencies and fiat currencies into its platform as time goes by.

Monaco Fees and Limits

One of the most attractive features of the Monaco debit card and bank account is that it has no fees for opening and use. There are no monthly fees or minimum balances to maintain. This makes the card a great choice for those who are paid in cryptocurrency and do not always maintain a high balance in the account.

ATM withdrawals made with the card are free up to a $200 lifetime limit. After this, a nominal fee is charged by Monaco for withdrawals. There are, however, the standard fees charged by ATM owners. These can range from $2.50 to $4.95 or more. There is also an interbank exchange limit of $2,000 for the account.

There are no processing fees for loading money to the account and card. The company’s model is to encourage use of the card by not charging fees. It then receives a portion of the merchant’s credit card fees that are based on a percentage of each transaction.

Monaco Service and Support

It takes some looking to find contact information for Monaco, but these points of contact are valid as of the time this article was written:

Address: Bahnhofstrasse 21 6300 Zug Switzerland
Email: [email protected]

Monaco maintains a strong social media presence with accounts at the following addresses:

Those who visit the official website of Monaco will find that the company is undergoing a re-branding of sorts.  The website functions mainly as a portal which provides access to the project’s mobile app. Users can also find links to a white paper which explains the project in more detail.

Our View of Monaco (MCO)

This cryptocurrency debit card has the potential to define what debit cards are in the future. We love the fact that it is linked to a bank account, supports multiple currencies, and offers no fees. If any card has the potential to make cryptocurrency useful as an everyday means of exchange, it’s Monaco.

With that being said, it’s unfortunate that the card is only available in Asia at the moment. We’re certain this is going to change, of course, but how long that might take is anyone’s guess.

Monaco Pros

No fees
Multiple fiat and digital currencies supported
Linked to a functional bank account

Monaco Cons

Only available in Asia at this time (July 2018)
Support can be hard to reach

As of July 2018: Rollout is planned in Asia first, then Europe, followed by the US.