If this post title sounds familiar, this is a follow-up post to :

C-ries : Free Spotify From Crypto.com (003)

To be clear about my stand that I mentioned previously, the other (non-Ruby Steel) tiers weren’t the most attractive me – I still believe that to be true, if I was investing with cold hard cash. Ruby Steel (stake 50 MCO tokens) remains the most value-for-money tier as an investor and THE compelling choice.

So, why did I upgrade to the next tier i.e Royal Indigo? Turns out that I did good on other crypto holdings, and decided to sell high and (hopefully) buy low. Converting some capital gains into regular payouts sounds like a nice idea to me.

What does the Royal Indigo tier has to offer? Let’s look at 3 reasons.

1) Free Netflix Subscription Worth US$12.99

Similar to how Spotify works, holders get complimentary Netflix Standard subscription in the form of max. monthly reimbursements up to US$12.99 which would more than cover a Singaporean Netflix Standard subscription at S$13.98 so .. what I could do is to actually subscribe to Netflix Premium at $16.98/month instead for ultra-high definition and 4 concurrent screens.

The same rule applies – we have to charge the Netflix subscription to the MCO pre-paid debit card.

This is not a partnership with Netflix by Crypto.com and it would be more precise to see it as a one-sided reward by Crypto.com. Basically, when Crypto.com detects a payment made to Netflix, it immediately credit the card holder with up US$12.99 equivalent in MCO tokens.

Crypto.com can choose to end this benefit at any time.
It is important to highlight that that reimbursements are given in the form of fractional MCO tokens at the prevailing price. 

2) Get 3% ‘cash-back’ on Everything

Let’s re-visit the different tiers.

In order to get 3% no-frills, unlimited cash-back, 500 tokens needs to be staked. Yep, applicable for all transactions. To make things easier, top-up using VISA debit cards now incur zero fees.

It is important to highlight that that cash-back are given in the form fractional MCO tokens at the prevailing price.

I prefer to withdraw my cash-back/rebate/reimbursement tokens every month by using them to top up my MCO Visa cardl Sort of like taking money off the table, you know?

3) Free Lounge Access

Great to have this on standby, but this point doesn’t benefit me much since I’m mainly flying business class by redeeming KrisFlyer miles. In addition, there are also plenty of credit cards like DBS Altitude and Citi PremierMiles that offer lounge access.

Dividend Play : Regular Payouts

One thing I’d like to mention is that you should probably look at this post by MileLion before getting started. Seriously, don’t get the MCO card if you’re not going to make the effort to learn about crypto in general. Although the article makes a lot sense, well .. I’m not like most people. If you’re still reading, awesome!

Let’s consider my net amount spent for a total of 500 MCO tokens in roder to stake for my Royal Indigo card. Card upgrade fee is currently waived until 31-Dec-2019.

Including my initial stash of 50 MCO tokens when I first got my Ruby Steel card, I spent a total of US$1,331.48 or US$2.66 per token. (vs current price of $4.18 on 07-Dec-2019)

Based on my household usage pattern, I’ll expect to receive the following every month –

Spotify : US$9.99
Netflix : US$12.99
Crypto Earn 6% : US$10.00 (based on $4 price on 500 MCOs)
Total : US$32.98 per month

Given the risks incurred in crypto, I’m pretty happy with the following thus far –

Cost Yield : 29.74%
Current P&L : 57.14%


Based on a quick glance at the benefits, it may look like a lot of cash outlay that may seem unsustainable. A key point to note is the token model – remember that benefits such as free Spotify and Netflix are given out the form of MCO tokens, and not cash.

Obviously, the price would crash if everyone were to cash out at the same time. This is somewhat mitigated by the staking mechanism and the benefits that one will enjoy only if they stake. As their cards continue to be shipped globally, the demand for tokens will continue to be maintained. Pretty smart.

The updated roadmap is extensive but I’ll take everything in crypto with a huge pinch of salt.

I see some positive signs such as their focus on shipping products and features. Especially glad to see their singular focus on security plus the fact that they don’t shy away when people point out their shortcomings.

Funding the Crypto.com Card (plus free US$50 credit)

If you’re interested after reading what I wrote, then the next question you would have is .. exactly how easy/difficult it is to fund the card in order to use it.

Version #1 (I wrote in Sep-2019) :
Jumping through a few easy hoops is necessary –

  1. Buy crypto with fiat currency at a crypto exchange (e.g. buy ETH with SGD at Coinhako)
  2. Send ETH (or other applicable tokens) to Crypto.com address via wallet app
  3. Exchange ETH (or other applicable tokens) for SGD to top up into card

Version #2 :
What .. hoop?

  1. Funding the MCO VISA card in Singapore can now be done using a VISA debit card (free). Mastercard is a no-go at this point. Credit card incurs 1% fee.

Fulfilment of KYC (know-your-customer) / AML (anti-money laundering) requirements is part and parcel of the crypto landscape in Singapore. If you want a Crypto.com account, you have to get verified and authenticated.

Not forgetting that Crypto.com is a centralized entity and subjected to the usual risk of closure/bankruptcy (reminder for self and all) – which is why I keep at most few hundred bucks in it. Personal experience – I once transferred ETH but Crypto.com was suffering from degraded operation status, which meant transfers were delayed. Things like these can, and will, happen.

If you’re still undeterred by now, currently an user of Spotify/Netflix and think that the potential returns is sick, you’d be very happy to know that Crypto.com has a referral program to get US$50.

Follow the 3 simple steps from the official website –

  1. Download Crypto.com app and tap on “Invited? Add Referral Code” above “Sign Up” button
  2. Enter my referral code : uld5vzincy and complete KYC verification
  3. Stake 50 MCO tokens (Ruby Steel) or 500 MCO tokens (Royal Indigo/Jade Green)

Again, feel free to read the official referral_program for details. I know (and very much appreciate) that quite a few of you have read my earlier post, made used of my Coinbase Earn referral link (even when you didn’t have to) and earned US$50 worth of crypto.

With this follow-up post, another free US$50 (in MCO tokens) are up for grabs. Unfortunately, there is no free-pass this time. A referral code is necessary and I don’t have a generic sign-up option for you that still gets you the US$50. At least I have put myself to the test as a guinea pig!

This time round, it is a little more troublesome than the Coinbase Earn opportunity, and I would tag it with an ‘intermediate’ rating in terms of hassle and difficulty. If you see value in this card like I do, then I know what your next action would be. Especially if you already own crypto assets!

Crypto C-ries Recap

You mean there are really so many good deals to take advantage of due to the emergence of blockchain technology?

#001 : Creating A MetaMask Wallet
#002 : Free Crypto From Coinbase
#003 : Free Spotify From Crypto.com
#004 : Securing Private Key – Keep it Simple, Safe