Crypto.com's Ruby Steel prepaid Visa card has drawn significant attention in the crypto community. We put the card through real-world testing to evaluate its features, from mandatory MCO staking to daily usage. Here's our comprehensive review.
Getting Started: MCO Purchase and 6-Month Staking
Unlike most crypto prepaid cards, Crypto.com requires users to purchase and stake at least 50 MCO tokens (worth approximately $225 at the time of testing) for a minimum of six months before receiving the Ruby Steel card. Higher-tier cards — such as the Obsidian Black card — demand up to 50,000 MCO locked. During the staking period, tokens cannot be traded but continue to generate cashback rewards.
The application process begins in the Crypto.com App, where you complete a KYC verification by uploading a photo ID, Social Security number, and residential address. A third-party identity system typically validates the information within five minutes. Once approved, the card ships within seven business days. The app also integrates an exchange supporting over 55 cryptocurrencies.
Card Experience: Solid Metal Build and Contactless Payments
The Ruby Steel card is made of metal with a contactless security chip, offering a premium feel compared to standard plastic cards. We tested it at multiple physical retailers using both tap-to-pay and chip insertion — no transaction failures occurred. After each purchase, the app sends a push notification showing the MCO cashback earned.
Topping up the card is intuitive: the app supports BTC, ETH, XRP, LTC, EOS, PAX, XLM, and TUSD, converting them to USD at real-time exchange rates. This eliminates crypto volatility during spending. However, a notable drawback is that direct BCH top-ups are not supported; users must first sell BCH for a supported asset like BTC. This adds an extra step compared to BitPay's card.
Cashback and Perks: 2% in MCO, Higher Tiers Offer More
The Ruby Steel tier delivers 2% cashback on all purchases, paid in MCO tokens. Our small transactions yielded anywhere from a few cents to a couple of dollars in rewards. Higher-tier cards (e.g., Obsidian Black) offer up to 5% cashback and rebates on services like Netflix and Spotify.
However, staking risk is significant: MCO's price volatility can affect the real value of rewards, and the six-month lock-up period locks users out of selling their tokens. Newcomers should thoroughly understand the staking mechanism before committing.
Verdict: Best for Long-Term Crypto Holders
The Crypto.com prepaid card offers a solid overall experience, with a premium metal card and instant cashback notifications. But the staking requirement and limited direct top-up options may deter casual users. Currently available in Europe, the UK, Singapore, and via SEPA transfers, it's a worthwhile tool if you already hold MCO and are comfortable with long-term staking. For greater flexibility, alternatives like BitPay or Coinbase prepaid cards may be preferable.
What's your experience with Crypto.com prepaid cards? Share your thoughts in the comments below.